Rossland’s Thoughtexchange announced today it has closed a $7 million investment round at a post-investment valuation of over $50 million.
New investors include Marin Investments, Kingswood Capital as well as other notable investors from the Pacific Northwest.
Both previous investors, First Generation Capital and JNKS Investments, participated in this round. This latest investment brings the group insight platform’s total financing to date to $12 million.
“Since launching our company we’ve helped solve big problems in the education and health sectors. Our customers have engaged hundreds of thousands of people across North America in important conversations and this financing will allow us to use what we have learned to bring some exciting new products to the market. We see an enormous opportunity to help groups of all sizes and we’re excited by what people will soon be able to do with our software,” says Dave MacLeod, CEO of Thoughtexchange.
Thoughtexchange’s success demonstrates demand for new ways to lead conversations and interact with groups online. People love the simple process because it ensures everyone contributes, everyone learns, and important ideas emerge.
“This raise will be used to build new products to address the need for improved group discussion and management tools in corporations across North America,” says Amos Michelson, Thoughtexchange’s Chairman and former CEO of CREO.
Today’s financing announcement builds on strong momentum that has allowed the company to triple sales year over year since inception.
“We have quietly become a company to watch in the Canadian technology scene and we are getting ready for big things in the next few years,” says Jim Firstbrook, Thoughtexchange’s President and COO. “Now that we are fully funded to build our new products, continuing to attract the very best talent in this competitive hiring environment is very important to us. We are fortunate to have a product that is both technically interesting to build and personally rewarding to be a part of.”
Thoughtexchange will be expanding its Vancouver office in the coming months and is hiring now.