Vancouver's Lat49 announced today that they have closed a $1.5 Million Series A financing led by PenderFund Capital Management with participation from existing investors including Discovery Capital.
We’ve been very impressed with the rapid adoption of Lat49’s solution by major clients,” says John McEwen, CEO of Discovery Capital. “Contextual advertising - advertising that is driven by location awareness, is the cornerstone of most web and almost all mobile consumer interactions. And Lat49 has emerged as the strong leader in contextual advertising.”
Lat49 provides a major step forward for monetizing the LBS [Location-Based Services] industry,” says David Barr, Chief Investment Officer at Pender and Fund Manager of Pender Growth Fund. “Having experienced the trends in location aware and SaaS [Software as a Service] offerings first-hand, Lat49 has nailed the ability to leverage location for the delivery of highly relevant advertising to Internet users.”
David Roberts, Entrepreneur in Residence at Pender, will join Keith Ippel and John McEwen on the Lat49 Board of Directors.
Established in 1986, Discovery Capital is one of Canada's most experienced technology venture capital firms. Discovery Capital has enhanced value... [more]
Lat49 was developed by Vancouver-based IDELIX Software Inc., a company that specializes in technologies for visualizing, presenting, and... [more]
PenderFund Capital Management is a value-based, forward thinking fund manager with expertise in identifying investment opportunities in undervalued... [more]
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 blogging on...[more]
