Canadian venture capital firms Round 13 and Garage Capital as well as Intel’s venture arm also contributed to the all-equity, all-primary round. Kitchener, Ont.-based RouteThis’s software uses mobile phones to identify and troubleshoot Wi-Fi network issues. (The Logic)
Talking point: Internet-service providers (ISPs) and IoT-device manufacturers in North America, Western Europe and Australia and New Zealand have integrated the firm’s technology into their customer apps. “The internet has swallowed how we watch TV and listen to music; it’s become, you know, how we turn on our lights,” RouteThis CEO Jason Moore told The Logic. “With the pandemic, it’s also become many people’s livelihoods.” That’s created a significant market Moore said the company plans to chase with the new funding. RouteThis aims to double its 70-person team this year, hiring engineers, sales and marketing staff. It’s also launching new software for telecom technicians setting up Wi-Fi networks. Inovia partner Steven Woods, who joined in July 2021 from Google Canada, was already an early investor and board member of RouteThis; the deal is the first publicly disclosed investment for the VC fund he’s led.