Five Ontario startups have received funding from the Investment Accelerator Fund, MaRS announced today. The IAF has invested nearly $29 million in more than 60 companies since inception.
Between September 2012 and today, the IAF has invested up to $500,000 in these five Canadian startups.
• Atomic Reach is a content marketing platform that enables brands and bloggers to expand their reach, improve user engagement and drive revenue through community collaboration. The company's mission is to help revolutionize the interaction, exchange and promotion of great content.
• In the Chat is a "customer service in social media" company. In the Chat has developed an end-to-end analytics and servicing platform that leverages search and text mining to help clients identify social media content that is relevant to their brand, categorized for ease of use and delivered for action, either via root-cause problem resolution or through individual customer engagement.
• Jibestream helps people search and retrieve information in public spaces using digital technologies. As innovators blending ease of use with a sophisticated foundation, the company's platform introduces new and revolutionary capabilities while building direct bridges to other technologies.
• Privacy Analytics helps companies in the health, consumer internet and financial industries protect the privacy of personal data used for analysis and research. Its solution offers secondary users of personal information de-identified data suitable for complex analytics, while still meeting legal, privacy and compliance regulations.
• Vana Workforce is a global provider of on-demand human capital software and service solutions designed for the needs of small and medium enterprises. Developed on the industry's leading cloud platform, Force.com, Vana Human Capital Management delivers a human capital management solution for global organizations, including the core human resource system of records, benefits and compensation, workforce collaboration and workforce analytics.
IAF portfolio companies have raised more than $130 million in follow-on capital, according to Barry Gekiere, the program's managing director.
"The IAF continues to seed early-stage companies with dynamic management teams, truly innovative technology and great growth potential, and these five most recent investments are no exception," he says. "Our role is to provide funding to help these companies achieve commercial success and go on to attract additional funding to support their growth."