Two Hat Security raises $1.6 million from iNovia Capital to fight trolls

Community Sift

Kelowna-based Two Hat Security announced the close of a $1.6 million seed round today, led by iNovia Capital. U.S.-based financial services company Comerica has also provided an additional $900,000 of bank funding as part of Two Hat’s new financing.

“Our team is doing something nearly impossible: creating a troll-free internet.”

The company says its community management software, Community Sift, services communities spanning 225 countries worldwide, processing a potential 4 billion messages per day. Community Sift’s stated goal is to limit some of the darker sides to Internet conversation.

“Our team is doing something nearly impossible: creating a troll-free internet,” said Chris Priebe, CEO and founder of Community Sift. “We’ve already been able to achieve great things with our current scale, but we need to do significantly more if we are going to seriously put a dent in cyberbullying and hate speech. With iNovia’s help, we will be the go-to solution to create healthy online communities.”

Two Hat Security says its new funding will be used for sales and product development.

“We are very excited about the opportunity to work closely with iNovia. The level of expertise that they bring to our organization has proven to be a huge asset,” said Karen Olsson, COO at Two Hat. “They genuinely understand what we are trying to achieve, both from a business and global impact perspective.”

Douglas Soltys

Douglas Soltys

Douglas Soltys is the Editor-in-Chief of BetaKit and founder of BetaKit Incorporated. He has worked for a few failed companies and written about many more. He spends too much time on the Internet.