University of Toronto Grads raise $1 Million for BackType

Today, San Francisco-based marketing intelligence company, BackType, announced that it has closed a seed funding round of just over $1 million, led by a group of Silicon Valley investors, including lead investor True Ventures as well as Manu Kumar’s K9 Ventures, Freestyle Capital, Chris Sacca’s Lowercase Capital, and Dave McClure’s 500 Startups.

The financing builds on the $300K in seed funding BackType raised in January 2009 from True Ventures.

Techvibes readers will recognize BackType as we've been covering them since University of Toronto grads Christopher Golda and Mike Montano pledged their 2008 summer to startup incubator Y Combinator and in three months fleshed out the app.

According to TechCrunch, Golda said that BackType will be using this new round of seed funding to grow the team and launch its new paid analytics product which will debut later this year.