iNovia Capital announced this morning its investment in Calgary-based Tynt Multimedia to complete the closing of a $5 Million financing round that included existing angel investors and the Alberta's AVAC Ltd.
Techvibes reported two weeks ago that Tynt had refocused their resources on a new product called Tracer - a new service that can monitor and track when users copy content from a web site and further attach attribution to the copied copyrighted content. Sounds like the iNovia and AVAC think that Tynt SEO Derek Ball is on to something big.
“Derek has assembled a world class team and they are laser focused on a huge, unaddressed problem with unique and patent pending intellectual property” said Shawn Abbott, Partner with iNovia Capital. “Tynt fits our digital media strategy and also has a high degree of synergy with our existing portfolio.”
“We are thrilled that iNovia has joined AVAC in supporting Tynt,” said Ross Bricker, CEO of AVAC Ltd. “One of the markers of success for companies within AVAC’s portfolio is the securing of subsequent investment from firms like iNovia. We saw Tynt’s potential to be a disruptive force in the global social networking marketplace and we are delighted by the company’s progress to date.”
AVAC has been very active of late with investments in Ph03nix New Media and Psyko Audi Labs through its IVAC investment initiative.
iNovia Capital is one of Canada’s premier managers of seed and early-stage venture capital funds, with operations in both Eastern and Western... [more]
Tynt Multimedia is measuring the way consumers interact with content they find on Websites and is focused on improving engagement and user... [more]
AVAC Ltd. is a private not-for-profit company that invests strategically in promising early-stage commercial businesses focusing on the expansion... [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]
