Toronto-based tech community engagement organization TechTO has acquired Toronto-based network Peerscale as it looks to broaden its programming to later-stage entrepreneurs.
TechTO’s recently minted CEO Marie Chevrier Schwartz declined to disclose the value of the deal, which closed last week, but told BetaKit the acquisition includes Peerscale’s team, members, and programming. The brand will continue to operate under the TechTO umbrella, led by Lori D’Agostino, who spearheaded Peerscale prior to the deal.
“In the roughest of times and in the best of times, my peer network is who I went to.”
Marie Chevrier Schwartz, TechTO
Peerscale was founded in 2004. Initially known as AceTech Ontario, the organization offers a peer-to-peer network exclusively for tech CEOs, COOs and CTOs. Members are matched based on factors including company stage to participate in monthly roundtable discussions held at restaurants in the Toronto area to share challenges, problem solve, and get strategic advice.
TechTO, which was founded 10 years later, holds events in tech events in Toronto, Vancouver, and Montréal. Claiming a membership of over 60,000, in addition to offering a newsletter, a Slack community, podcasts, and other resources.
Schwartz said while TechTO’s events regularly engage late-stage entrepreneurs and executives from companies like Shopify, Wealthsimple, and Lightspeed, among others, the organization’s audience has mostly consisted of younger, early-stage entrepreneurs to date.
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“Oftentimes, the later-stage companies will be on our stage and ultimately inspiring the community, but perhaps not sitting in the seats at the events,” Schwartz told BetaKit in an interview.
Peerscale members make up a unique niche within the tech industry. TechTO claimed members’ companies averaged revenues of around $30 million. Since 2011, 45 member CEOs have sold their businesses, many of which were bootstrapped, according to Peerscale’s website. The organization’s network consists of over 100 members from companies like ACTO, Humi, LumiQ, and Manifest Climate.
“We see Peerscale as the graduating class of the TechTO ecosystem,” Schwartz said, adding that many members have taken non-traditional paths to growth, which adds to their value and experience.
In a statement, Leah Carr, board chair of Peerscale, said she expects the deal to provide more valuable programming to Peerscale’s members while expanding the program’s reach.
“For two decades, Peerscale has been a vital support network for CEOs, COOs, and CTOs, helping make this journey less isolating. I’ve witnessed Peerscale members come together to save businesses in tough times, negotiate stronger term sheets, and support each other through major deals—it’s truly inspiring,” Carr added.
Originally founded in Toronto, TechTO has recently focused on expanding its reach by hosting events in Vancouver and Montréal. Celebrating its 10th birthday this year, Schwartz is advocating for a shift in the pronunciation of its name to “Tech-to,” in order to better reflect the organization’s newly national scope.
Peerscale’s peer roundtables remain active exclusively in Toronto, though Schwartz shared plans to make them accessible to “as many people as possible.”
Schwartz took on the role of TechTO CEO in September, but her connection to the organization goes back to 2018 when she co-hosted the organization’s retail-focused events. She joined just months after her decade-long tenure as CEO and co-founder of the digital product sampling startup Sampler ended, following the company’s bankruptcy in June.
Schwartz has been candid about her experience with Sampler, recently reflecting on the lessons learned from failure during a tell-all fireside chat with BetaKit editor-in-chief Douglas Soltys at SAAS NORTH last week. Drawing from her journey, she told BetaKit this week she’s developed a deep compassion for those taking on “the extreme sport of building technology companies.”
“Entrepreneurship is such an amazing opportunity, not just for people, but also for the economy, but it’s also extremely taxing, and any level of support that we can give to these amazing founders is something I felt really passionate about,” she added.
After Sampler’s end became public, Schwartz said TechTO’s co-founders Jason Goldlist and Alex Norman reached out to her. “They asked me to come in as CEO. I did not expect that, but it was actually perfectly timed,” she added.
Now at the helm, Schwartz is focused on making TechTO’s community events feel cohesive. “A lot of the initiatives that are going on in our ecosystem feel disjointed,” she said, noting she wants to find ways to “support builders in a way that’s more directly connected to the big issues.”
Another big part of her vision is around supporting entrepreneurs through initiatives like Peerscale.
“We fundamentally believe that peer communities are so important,” she added. “In the roughest of times and in the best of times, my peer network is who I went to, and I think that bringing that magic and making it more accessible broadly across our communities is going to be really, really powerful.”
Feature image courtesy Marie Chevrier Schwartz via LinkedIn.