IGLOO raises $4 Million from RBC

Posted by Rob Lewis

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.

Company:
IGLOO Software
Website:
http://www.igloosoftware.com
Location:
Kitchener-Waterloo, Ontario, Canada

IGLOO develops social software that builds online communities for business. A powerful suite of content management, collaboration and knowledge sharing tools, within one secure social networking platform, that gives an employee more control over the way they work. IGLOO’s online business communities drive groups, teams and organizations of any size internally to improve collaboration, knowledge sharing and... 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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