Toronto E-Commerce Startup Hubba to Raise $45 Million in 2016

According to an article in the Wall Street Journal today, Toronto’s Hubba is on track to raise $45 million in new venture capital financing as it looks to expand the use of its consumer product-information platform beyond North America to the U.K.

The report quotes Hubba founder and Chief Executive Ben Zifkin who said Hubba expects its $45 million deal to close by the end of March.

Hubba’s platform offers marketing and other information on a vast array of products—everything from Dove brand soap to Budweiser beer.

Clients including Wal-Mart and Target use the site to ensure the product information they provide to their customers is complete and accurate. Hubba’s technology also distributes companies’ product information to Amazon.com and other online shopping sites.

Hubba was a finalist for Techvibes’ Best New Canadian Startup award in 2012 and has since lined up more than 10,000 companies, mostly U.S.-based, to list their products on its site.

Hubba secured $11 million in capital for its Series A round of financing in October 2015.

The Series A was led by Real Ventures alongside strong participation from existing investors such as Brightspark Ventures and notable angels including 2015 Angel of Year award finalists Allen and Eva Lau of Two Small Fish Ventures.