Alberta venture capital firm awards startup with $600,000 investment
CALGARY, Alberta, Feb. 23, 2015 /CNW/ -- Calgary-based startup Leankor is celebrating securing its first round of funding from a renowned Alberta venture capital firm.
AVAC Ltd. and the Accelerate Fund, along with a syndicate of angel investors, have announced it is awarding Leankor's enterprise-ready visual operational management system a total of $600,000 in its first round of financing.
"We found a very professional team in place at Leankor, and their solution, including its integration with Salesforce, is solving a major problem inherent within most companies. Early traction has been excellent," says Jacques LaPointe, Senior Investment Manager at AVAC Ltd.
The Accelerate Fund, managed by AVAC, is an early-stage, angel co-investment fund that invests in promising Alberta technology companies. The fund aims to allow emerging tech firms secure additional financing for their current angel round and tap into a broader network of industry support.
"The new networks and connections now accessible to Leankor are just as valuable as the financing itself," said Leankor CEO Emilio Bernabei. "The support from the investment team at Accelerate Fund has been exceptional. This capital will enable us to expedite new feature launches while engaging new clients."
This substantial first round of financing comes on the heels of Leankor's recent first-place win at the Energy New Venture Competition. On Jan. 26, the startup bested 13 competitors in a Dragon's Den-style pitching event. Leankor walked away with top marks from the judges, as well as a $50,000 first prize comprised of $25,000 cash and $25,000 worth of in-kind services.
Leankor is a go-to operational management tool to help teams collaborate and visualize work and workflow. Powered by the Salesforce Customer Success Platform, the system uses visual collaboration tools to distil workflow management into three simple steps, cutting the time and costs typically required to set up such systems. Modern features, such as Salesforce Chatter and full Salesforce integration, help managers across industries keep workflows lean and cut back on endless email churn and pointless meetings.
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