Toronto’s Influitive announced today that the company has raised an additional $8.2 million in a Series B extension.
Today’s announcement brings the total Series B round investment to more than $38 million and the total amount raised by the company since it was founded in 2010 to approximately $50 million.
The additional financing comes from new investors Leaders Fund and Export Development Canada (EDC), returning investors including Georgian Partners, Relay Ventures, BDC Capital IT Venture Fund and OurCrowd, as well as several angel investors.
Influitive also announced the acquisition of startup Ironark Software, the company behind mobile applications Hub, a home and family organizer, and Workbase, a business task and schedule manager. Ironark’s founders and lead developer will join Influitive’s product division.
“This additional investment strengthens an already deep bench of investors backing Influitive” said Mark Organ, CEO and Founder of Influitive. “The acquisition of Ironark brings strong talent to Influitive who align with our focus on community building and exceptional mobile experiences for our customers.”
“The momentum behind Influitive and the advocate marketing category they have created is impressive,” said David Stein, Managing Partner of the Leaders Fund.
“With their strong execution in a growing market with huge potential, we are delighted to help Influitive accelerate past the $20 million annual recurring revenue level that we define for new category leaders. As an evergreen investment fund, we are committed to Influitive’s longterm vision, and believe this financing and acquisition will further enable it.”
Influitive, the advocate marketing experts, is based in Toronto with offices in Boston, Palo Alto and San Francisco.