Vancouver startup Jostle announced today that its $350K offering of Preferred Class A equity has been over subscribed by a factor of two, netting the company $745K. Jostle will use these funds to complete its market entry.
Jostle is web-enabled software that elegantly glues organizations together, by clarifying team structures and helping employees engage. Jostle’s software makes it easy to facilitate teams, find expertise, and enables cross-organization teamwork - without the need to first standardize tools and processes.
According to Jostle CEO and co-founder Brad Palmer the company has raised over $1 Million to date from more than 40 individuals that share Jostle's passion for changing enterprise software for good.
As part of today's announcement the company included an interesting quote from a Howard Gwin - a partner at venture capital firm Bridgescale Partners.
”No VCs – no Angels – no worries. Great business models get funded. I love the Jostle value prop and look forward to watching it grow like crazy.”
With Vancouver's angels either waiting for exits or looking at lower risk/later stage opportunities, it's great to see tech startups like Jostle find alternative ways to raise much needed funds.