Scribble Raises $12 Million Series C Led by Waterloo
Scribble Technologies today announced the closing of its Series C round of funding.
The $12 million investment was led by WIN (Waterloo Innovation Network) Fund, which invests in growth stage digital media and mobility companies, and brings Scribble’s total funding to over $20 million.
In addition to WIN, all of Scribble’s existing investors participated in the funding round, including Georgian Partners, Export Development Canada, Summerhill Venture Partners and Rogers Venture Partners.
“Scribble continues to lead a fundamental shift in the way marketers and publishers engage with their customers using content and content software, with over 500 enterprise customers including some of the world’s biggest brands” said Vincent Mifsud, CEO of Scribble.
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“We are a fast growing, cash-flow positive business and we see tremendous opportunity in the market. We welcomed this round of funding as it allows us to further accelerate our growth, providing resources to open new international offices and make strategic acquisitions.”
According to today’s announcement, Scribble continues to expand at a rapid pace, with revenues increasing at a compound annual rate in excess of 100% and engagement powered by Scribble rising to over four billion minutes per month.
