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.
Inkblot Therapy raises $1 million seed round
Toronto-based Inkblot Therapy, which uses proprietary matching algorithms to connect clients with mental health counsellors, has raised a $1 million seed funding round.
Inkblot’s platform matches a company’s employees to qualified mental health counsellors.
The $1 million investment was led by Amplify Capital (formerly MaRS Catalyst Fund), with participation from Good & Well Inc., Active Impact Investments, and other angel investors.
Inkblot has developed an online platform that uses an algorithm to match a company’s employees to qualified mental health counsellors, based on their specific needs and preferences. Inkblot aims to reduce what it calls the barriers created by a shortage of mental health therapists in major cities.
Inkblot plans to use the funding to accelerate sales, further develop its platform and channel-distribution strategies, and continue to expand across the United States.
“The additional capital we’ve received, and the caliber of investors we have attracted on this round will be instrumental in supporting our continued team and sales growth across a number of customer channels, and most importantly, the tens of thousands of people covered by Inkblot Mental Health Plans today,” said Luke Vigeant, co-founder and CEO of Inkblot.
Inkblot is an alumnus of the 2019 Techstars Toronto Accelerator program.
UrtheCast closes $2 million unsecured convertible debenture
Vancouver-based UrtheCast, which provides products in the geospatial and geo-analytics space, has raised $2 million in funding from SMF Investments Limited.
The financing consists of $2,025,773 in unsecured convertible debenture financing. The company plans to use the funding for its legal and advisory fees related to debt service costs. It also plans to put the funding towards its global change detection and analysis system UrtheDaily Constellation.
Founded in 2004 by Scott Larson, UrtheCast gathers video data from Earth through satellite technology and displays it in almost-real time on its web platform. The platform makes the videos available for the public, developers, educators, media, governments, humanitarian organizations, and environmental protection agencies.
Recently, UrtheCast was selected to receive $2 million CAD from the Canadian Space Agency’s Space Technology Development Program to develop new satellite technologies. In September, the company secured $6.6 million CAD in financing from Vine Rose Limited. UrtheCast also raised $19.6 million through a previously announced bought deal public offering in March 2017.
Screenfluence raises $960,000 CAD
Toronto-based Screenfluence, which helps businesses remotely manage and showcase digital content, has raised $960,000 CAD from a group of eight undisclosed private investors.
Screenfluence has developed a cloud-based digital signage content management software that allows businesses to remotely operate and display content across multiple locations. The company leverages drag and drop technology, easy playlist creation, advanced scheduling, and social media integration to help organizations manage content and marketing material.
Screenfluence noted that it has partnered with Instagram to give users another channel to interact and engage with customers. Users can link their Instagram and Screenfluence accounts to display recent photos on the screens in their networks.
Screenfluence will use the funding to grow its team, enhance research and development, and renovate its office.
Image source Inkblot via Twitter