The Atlantic Canada Opportunities Agency, which is part of the Atlantic Growth Strategy established by the Government of Canada and the four Atlantic provinces, invested $498,150 into Moncton-based Qimple.
The conditionally repayable contribution is being provided through ACOAâs Business Development Program (BDP), which provides small and medium-sized businesses with access to capital in the form of interest-free repayable assistance. The company is using the funding for business development and marketing.
âInnovation is critical to Atlantic Canadaâs economic success,” said Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA. “Thatâs why the Government of Canada is committed to encouraging innovation that will increase the productivity, growth and competitiveness of businesses. We are proud to support local small- and medium-size businesses, such as Qimple, as they expand, secure larger markets, and in doing so, strengthen the economy both locally and nationally.â
Qimple’s platform allows companies to distribute job postings to multiple job boards, screen incoming applicants with its applicant tracking system with resume parsing technology, and collaborate with their hiring team to make hires from one place. In June, Qimple raised $1.1 million in seed funding from the New Brunswick Innovation Foundation after an initial investment of $500,000 from 500 Startups.
âWe are absolutely thrilled to have ACOAâs support,” said Yves Boudreau, co-founder and CEO of Qimple. “The funding is allowing us to significantly increase our business development and marketing activities, so we can continue to grow and be a successful Atlantic Canadian company.”