Foko’s seed round just got a lot bigger.
Foko, a Techvibes 20 company, raised $450,000 in seed funding a couple of months ago, but this week added an additional $2 million from BDC Capital and Real Ventures. The additional capital follows a strong quarter for the startup.
“We are very pleased with the success Foko has achieved in the current quarter,” said Marc Gingras, CEO of Foko. “Foko has users in 10% of the Fortune 100 and more than 500 enterprise customers. Engagement on Foko is nearly three times the industry average for enterprise services.
The Ottawa-based startup, which developed a photo sharing and messaging service for the enterprise, also secured funds from several individual investors, including Sarah Imbac, the former COO of LinkedIn, Paul Tsaparis, the former CEO of HP Canada, and Sebastian Marineau, a vice president at Apple.
“We have secured $2.5 million in seed funding from social, technology and venture industry veterans,” noted Gingras. “We will use the funds to continue to improve our service and increase awareness of Foko.”
Foko, which has been referred to as an “Instagram for the enterprise,” was accelerated at MaRS.