Canada's Groupon? Canadian Daily Deal site raises $31 Million

Posted by Rob Lewis on 2011-05-17 3:57:00 PM

Yesterday Canadian daily deal site Dealfind announced that it raised $31 million from New York-based Insight Venture Partners, Toronto-based Georgian Partners and the Ontario Venture Capital Fund.

Terms of the financing were not release however the press release stated that the investors have a minority interest in the company. Dealfind will use the funds to finance its growing infrastructure and aggressive North American expansion plans which include 100 cities in 2011.

Dealfind was founded in May 2010 by Gary Lipovetsky and Michael Tulman and was launched as a division of MenuPalace.com, an online restaurant directory which was founded in 1999.

Company:
Dealfind
Website:
http://www.dealfind.com
Location:
Toronto, Ontario, Canada

Dealfind is a branch of MenuPalace.com which started in 1999. Since May, 2010 this online group buying website has sold over 750,000 vouchers, and has saved consumers over $112,000,000. The 72nd most visited site in Canada, the company is also listed as the 626th most visited site in the United States* and the 2,734th most visited site in the world*. Dealfind employs 130 staff and can credit its growing success to... more

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Rob Lewis

Rob Lewis

Rob is the President of Techvibes Media Inc. and Editor-in-Chief of Techvibes.com.  His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University. When not running Canada's leading technology media property, Rob can... more

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