Integrate.ai raises $39 million CAD Series A

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Toronto-based integrate.ai announced today that it has raised a $39 million CAD Series A round.

The round was led by Portag3 Ventures, with existing investors Georgian Partners and Real Ventures. The round puts integrate’s total value at over $130 million CAD ($100 million USD).

To date, integrate has raised over $50 million CAD. “We have seen a proliferation of AI startups, but integrate.ai is unique in its ability to consistently demonstrate measurable revenue lift quickly through a commercialized software platform designed for enterprise needs,” said Paul Desmarais III, executive chairman of Portag3 Ventures and a senior vice president of Power Corporation and Power Financial. “In addition, integrate.ai’s proprietary, privacy-preserving signals exchange is exactly what businesses will need going forward to deliver better experiences that consumers can trust in ways that significantly increase business results.”

integrate.ai plans to use the funding to expand its operations and client base in the United States.
 

Targeted to enterprises, integrate.ai’s technology integrates into customers’ systems of engagement, and helps them learn how to focus business resources and budget where they will have the greatest impact. Its current customers include TELUS and Corus Entertainment. The company is also working in the field of ethical AI, and brought on Vector Institute co-founder Richard Zemel as an advisor to help in this area.

“This is not something that lies only in the hands of the data scientists,” Kathryn Hume, VP of product and strategy at integrate, said at the time. “It’s rather the data scientists that are building models need to do a statistical analysis to see if there might be biases, and have discussions with business leaders whose job it is to think critically about what ethics means for their company.”

integrate.ai plans to use the funding to expand its operations and client base in the United States, which COO Jason Silver said would help it speed up development of the platform.

“Expanding the integrate.ai team and extending our reach into the US, and other markets will enable us to speed up development of our AI platform, which integrates with existing enterprise tech stacks, and address the tremendous interest in our Trusted Signals Exchange,” said Silver. “We offer a compelling career path for top AI and business talent and a commitment to turning cutting-edge research into enterprise applications with a direct impact on our customers’ businesses.”

Photo via Unsplash.

Jessica Galang

Jessica Galang

Jessica Galang is BetaKit's News Editor. Follow her on Twitter @jessicagalangg or send her pitches to jessica.galang@betakit.com.