Vancouver-based Jostle today secured $3.1 million in equity investment. The Series A round did not come from venture capital firms or banks; the Canadian startup says the funds came exclusively from private investors, including many non-angels.
“All our investors are private individuals that believe in what we are doing. Most are strong business leaders that recognize the power of teamwork, culture and clarity,” explained CEO Brad Palmer. “Our People Engagement platform presents an entirely new approach, appealing to leaders with operational experience, who immediately see the huge potential to our simple approach to fostering teamwork and connecting employees.”
Jostle’s cloud-based platform helps organizations empower their employees and drive their culture through conventional intranets and enterprise social platforms like Yammer and Jive. The startup has raised $4.6 million to date.
"The success of this investment round was due to the targeting of qualified investors who understood risk,” noted Gary Yurkovich, Managing Partner of Espresso Capital.
Yurkovich and Palmer are part of a panel titled “Not The Usual Suspects: A Look At Conventional and Non-conventional Angel Investment” at the Vancouver Enterprise Forum meeting on January 20.