On Friday, January 18, 2013 Canadian startup, Jostle Corporation, successfully raised $3.1 million in equity investment in a Series A round. Explaining the good response to the funding round, Managing Partner of Espresso Capital, Gary Yurkovich said that, “The success of this investment round was due to the targeting of qualified investors who understood risk”. The most interesting aspect of the Jostle funding was that equity did not come from banks or capital firms, it came from private investors, which includes several non-angels who had made exclusive contribution.
CEO Brad Palmer explained, “All our investors are private individuals that believe in what we are doing. Most are strong business leaders that recognize the power of teamwork, culture and clarity. Our People Engagement platform presents an entirely new approach, appealing to leaders with operational experience, who immediately see the huge potential to our simple approach to fostering teamwork and connecting employees.”
With this round of funding the Vancouver-based Jostle has thus far gained $4.6 million to date in investment. Now the startup will look to further enhance its cloud based platform with the help of the recently raised cash. Jostle helps organizations empower their work force and push their agenda via conventional enterprise and intranet social platforms such as Jive and Yammer.
Source: TechVibes
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