12 November 2019:
Stradigi AI has raised US$40.3 million in Series A round of funding. The funding round was led by The Fonds de solidarité FTQ (the Fonds) and Investissement Québec (IQ).
Holdun Family Office, Segovia Capital Ltd., Cossette Inc., and Stradigi AI’s co-founders Basil Bouraropoulos and Curtis Gavura also participated in the funding round.
The company will use the fresh capital to fuel expansion across North America, building it’s go-to-market strategies, with a core focus on the United States.
The company will bolster its existing team with 50 newly created positions in research, software, sales and marketing, it said in a statement.
Canaccord Genuity acted as the financial advisor for the financing.
Basil Bouraropoulos, CEO and Co-Founder , Stradigi AI, said, “Investissement Québec and the Fonds de solidarité FTQ, in addition to all the other amazing investors that contributed to this financing, are great partners for Stradigi AI.”
Basil Bouraropoulos, added, “As two of the most respected institutional funds in Canada with diverse portfolios and deep experience with preparing companies for international growth, IQ and the Fonds will bring tremendous value as we execute our strategy to become one of the top three leading platforms in North America.”
Guy LeBlanc, CEO, Investissement Québec, said, “Investissement Québec is proud to support Stradigi AI’s success and the development of their platform Kepler that can help businesses to cross the chasm from research to production of AI for some time.”
Guy LeBlanc, added, “We are committed to investing in Quebec’s thriving AI ecosystem, which is why we feel it is so important to help home-grown success stories like Stradigi AI to expand both here and beyond our borders.”
Emil Savov, Vice-President for Investments, Venture Capital, at the Fonds de solidarité FTQ, said, “We are very pleased to support Stradigi AI as the Company continues to execute on its ambitious expansion strategy. Having spent the last few years building its leading platform, Kepler, Stradigi AI is very well-positioned to develop its North American foothold to meet growing customer demand.”
Emil Savov, added, “To ensure the future of the AI sector in Québec, this expertise must be further aligned with commercial and strategic goals, which is one of the reasons the Fonds is investing in Stradigi AI.”
Louis Duchesne, President, Quebec and East, at Cossette, said, “Our involvement in this crucial step in Stradigi AI’s development is a natural evolution of our partnership. We know that the Kepler AI platform meets a real need for businesses looking to further personalize their brand experience by increasing the relevance of their messaging. And, we are committed to supporting its North American launch.”
Stradigi AI is a Montreal-based Artificial Intelligence provider committed to transforming business through smart, easy-to-implement AI solutions.
(Image – Stradigi AI)