Since launching in 2012, MaRS’ accelerator program JOLT and its portfolio of startups has surpasses $10.5 million in financing. The announcement was made today via its website and Sue McGill, Executive Director, JOLT, said, “The upward momentum of our portfolio companies is a testament to the hard work, drive and focus of the phenomenal founders we’ve backed. It typically takes five years to build a successful company, and that timeline is getting longer. Even though our startups are still in the early stages of their growth we continue to be impressed by their progress.”
Twenty-three companies has been involved with JOLT and 17 JOLT graduates have attracted outside funding of an average $1.1 million in seed capital per company. Some of the more notable startups to be part of JOLT have been PUSH, Taplytics, Turnstyle, Nudge Rewards and Singspiel.
“The additional capital is critical as it allows our founders to continue to build upon the positive momentum they’ve created so far,” says Kerri Golden, JOLT Fund’s general partner. It also provides the companies with both the confidence and gas in the tank to add talent to their teams and sign on more partners and customers.”
23: Companies accepted into JOLT program.
17: Graduates of the accelerator program, 11 active, 5 inactive and 1 acquired.
6: Active companies in current cohort.
$10.5M: Total funding raised, including JOLT Fund investment.