Scribble Technologies Gets $8 Million In Funding From Georgian Partners and EDC

By: Talha Bhatti  |   June 21st, 2013   |   Business, News, O Canada, TQ Profiles

Toronto based Scribble Technologies, the developer of market leading real-time engagement management solutions, has announced they have secured $8 million in new funding from a group led by Georgian Partners and EDC. The Canadian technology startup is planning to use the new found cash to help expand their global presence while also focusing on growing their business in the enterprise market. According to an email sent to Talk Queen from the Scribbles offices, “The funds will fuel expansion in the B2B enterprise marketing with global brands, accelerating growth in Scribble’s content store, ScribbleMarket, and drive large-scale expansion in the United States.”

 

In a news release relating to the results of the funding round, Scribble Technologies revealed that Georgian Partners lead the funding group which included the export credit agency, Export Development Canada, Summerhill Venture Partners and Rogers Venture Partners. Scribble told TQ that the funding was “another great example of how Canada is fostering the startup community, and showcases its confidence in the future of content marketing.” Investors were attracted to the Canadian startup because of its use of cutting edge technology. The companies platforms are built using “Applied Analytics and Big Data to deliver actionable insights that can optimize and amplify online engagement.”

 

Scribbles major focus at the moment is its two flagship services: ScribbleLive and ScribbleMarket. The company states that, “ScribbleLive is the leading provider of real-time engagement management solutions that allows brands and media companies to deliver timely, relevant and rich engaging content.” The Canadians firm has found some real traction for the platform with major clients like Canadian Press, CBC, Rogers, Samsung and ESPN that utilize ScribbleLive to engage with their customers. ScribbleMarket is a new service and “is a content syndication solution that enables the creation and distribution of real-time rich content from authoritative brands and media companies.” Both these platforms will see added features along with rapid expansion thanks to the new injection of funds from investors.

 

 

Current company CEO, Michael De Monte, co-founded Scribble in 2008 and has guided its growth over the years. In a press release he seemed pleased with the new funding and said that, “Scribble powers some of the most important media companies in the world by enabling them to create, publish and amplify content in real-time. Collaborating with Georgian Partners allows us to bring our expertise to global enterprise brands that want to be on the cutting edge of engagement management by offering rich content delivered in real-time.”
 

Speaking of the new deal, Simon Chong, Managing Director and Co-Founder of Georgian Partners stated that, “We have a shared vision with Scribble of how real-time content will drive engagement for businesses going forward, especially corporate and enterprise brands. Scribble is an industry leader in real-time engagement management. Their analytics-backed approach offers an ideal solution for trail-blazing enterprises that want to accelerate their content and rich media strategies.”

 

EDC’s Senior Investment Manager, Andrew Pinkerton, also shared his thoughts and said, “Scribble’s industry-leading platform showcases the kind of innovation and customer focus that drives international growth, in a key export-focused industry. Helping strong Canadian companies in Canada’s tech sector develop from startups to fully commercial exporters is an important focus for EDC, and we see great potential for Scribble to make meaningful contributions to the industry.”