Rossland, B.C.-based startup engagement platform Thoughtexchange announced on Thursday, the closing of an approximate $4 million round of convertible note financing from Yaletown Partners and angel investors. The new funds will be used to fuel the company’s growth rate which has been 100 percent year over year, according to a statement from the company.
“The two-way experience market is heating up, and with our current funding, momentum and growing list of passionate advocates, we are now excited to raise a significant Series B to fuel our expansion,” said Thoughtexchange CEO Dave MacLeod.
Founded in 2009, Thoughtexchange aims to help hundreds of organizations engage millions of people on critical topics. Its two-way experience platform allows educators and business leaders across a variety of industries to lead productive group conversations from between five to 150,000 people.
In these conversations, leaders can ask open-ended questions while AI ensures every member’s responses are considered and rated by other participants. Thoughtexchange also uses data analysis to provide insights to decision leaders and participants so they can make informed decisions and take action.
“We are thrilled to invest in Thoughtexchange and look forward to supporting them as they continue to grow into a globally successful Canadian tech company,” said Salil Munjal, managing partner at Yaletown.
Thoughtexchange won the Innovation Showcase pitch competition at the two-day #BCTechSummit in 2016, and also closed a $7 million round of funding in October 2015.
Image courtesy Thoughtexchange.
This story has been updated to reflect that Thoughtexchange has not closed a Series B rather funding to bridge it to a Series B