Canada’s tech scene is quietly expanding, and its burgeoning companies are giving venture capital investors enough reason to throw some money at them.
No doubt, Canada has had a strong tech culture for some time. Just look at Waterloo. But there’s a wave of promising new companies that now offer a wider range of services, from mobile apps to electronic publishing platforms.
Scribble Technologies is the latest company to secure some venture capital money through a $4-million Series A financing round, led by Summerhill Venture Partners and including Rogers Ventures. For those who don’t know the company, it’s best known for ScribbleLive, which is a blogging platform that allows you publish continuous updates. As an example of how it used, check out the Globe’s live-blog of Jack Layton’s funeral.
ScribbleLive is used by some pretty big names in the media world, including Thomson Reuters and the Associated Press.
The financing comes on the heels of investments in companies like Wattpad, which recently secured $3.5-million in a round led by Union Square Ventures, the New York-based venture capital firm behind such breakout stars as Twitter and Zynga.