Three Canadian startups have announced fresh funding rounds to fuel their growth. Here’s the latest on who raised how much, from whom, and what they’ll be putting the new funds toward.
AI startup Morphio raises $1 million
Toronto-based AI digital marketing startup Morphio has closed a $1 million seed funding round. Morphio will use the funding to help with customer acquisition of United States-based marketing agencies and in-house teams, as well as enhance its AI platform.
Morphio’s platform integrates marketing analytics from Google, Facebook, Microsoft, and LinkedIn to help digital marketers and entrepreneurs assign and automatically track financial results. The platform also helps measure and monitor key performance indicators (KPIs), as well as flag anomalies and unusual behaviour. Its AI predicts digital performance and recommends optimizations on how budgets can be better distributed between advertising platforms.
“If digital marketing teams are willing to learn about AI and explore new workflows, we expect to save our customers millions, maybe billions of marketing dollars while providing security and peace of mind that their marketing investments are being effectively managed,” said Morphio CEO Eric Vardon.
Legal tech startup Rally receives $750,000
Newfoundland-based legal technology startup Rally has received $750,000 in funding from Venture Newfoundland and Labrador LP, Killick Capital, Concrete Ventures, and Good News Ventures.
Rally CEO Scott Stevenson said the funding would help the startup expand sales efforts across Canada and the US, as well as double the size of its team and build new features for its platform.
Rally is headquartered in St. John’s, Newfoundland, with a second office in Toronto. It supplies automation and collaboration software to business lawyers and their clients, with the goal of making legal documents understandable to computers and enable businesses to comprehend their legal information.
BreatheSuite closes $550,000 round
St. John’s-based healthtech startup BreatheSuite has raised $550,000 in funding led by Venture NL, a fund by Pelorus Venture Capital for Newfoundland and Labrador.
The $250,000 funding from Venture NL, while the other half of the fund came from angel investors. According to BreatheSuite CEO Brett Vokey, the funding would be used to grow its team and create pilots with big-name clinical partners.
Founded in 2018, BreatheSuite uses software and add-on hardware to show the correct improper use of inhalers, with a goal of improving treatment for people who suffer from asthma and chronic obstructive pulmonary disease. It is currently developing an inhaler add-on that allows patients to use inhalers properly without separate training devices.
“By using a digital health intervention, we aim to close that gap by teaching proper inhaler technique and adherence,” said BreatheSuite CEO and founder Brett Vokey. “Our mission is to empower chronic disease patients to manage their own diseases more effectively.”
Image courtesy BreatheSuite Twitter