Chaordix recently secured CAD $1.5 Million in Series A venture capital financing which will allow the company to expand into new markets, as well as invest in its next generation of products. The venture capital financing was led by Yaletown venture Partners and features the participation of the Business Development Bank of Canada (BDC).
"This funding recognizes our consistent track record, the strength and dedication of our team, as well as the growth opportunity of our unique crowdsourcing-driven business model," stated Shelly Kuipers, Chaordix Founder and CEO, & Crowd Leader.
"With this financing, we're well positioned to extend the reach of our managed services offering beyond our existing client base in Europe, North America, and Southeast Asia," she added.
The crowdsourced market intelligence company, is also expecting to use these funds to increase their services capacity in order to further support their clients list, which includes names such as IBM, American Airlines and FutureBrand.
"The Chaordix technology has enabled their Fortune 500 customers to gain business insight, drive product innovation, and build brand loyalty," said Brad Johns, Partner with Yaletown Venture Partners.
For the venture capital company, Chaordix is in a strong position to address the needs of a market using their social networking and analytics technology.
According to BDC's Manager Brenda Slauko, "partnering with Yaletown Venture Partners allows us to support the enhancement of Chaordix Crowd Intelligence products and positions the company for future growth."