IGLOO raises $4 Million from RBC

by Rob Lewis | Business

Waterloo's IGLOO announced today that they've closed a US $4 million equity financing round from RBC Venture Partners. IGLOO's software as a service (SaaS) model provides a suite of Web 2.0 and Facebook-like services for firms, allowing their employees to improve in-house communications and share information. The financing will enable IGLOO to extend and commercialize its suite of collaborative social networking tools. The Globe and Mail picked up the news quickly thanks to a Research in Motion connection.

Dozens of technology startups ache to make a name for themselves in the social networking game, but only one has Research In Motion Ltd. co-chief executive officer Jim Balsillie on its board. For Igloo Inc., a Waterloo, Ont.-based company that develops corporate social networking software, Mr. Balsillie's involvement is the difference between obscurity and instant credibility.

Ironically, Balsillie's attempts to land a much larger Igloo (Mellon Arena) and it's flightless inhabitants in 2006 was a popular topic for Canadian media as well.

Igloo Software
Kitchener-Waterloo, Ontario, Canada

Igloo is an intranet you'll actually like. We all struggle with productivity. We are constantly pressured to accomplish more, and to do it quicker. There is no one definitive way to accomplish that, and we have all devised our own little method to make things work. At Igloo, we think your way is the best way, we just want to support you, and make your way better. Our focus is on becoming that... more

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Rob Lewis

Rob Lewis

Rob is the President of Techvibes Media 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 be... more

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