The round was led by new investor Framework Venture Partners, with participation from existing investor the Canadian Business Growth Fund, and $5 million in growth capital from Silicon Valley Bank. Kingston, Ont.-based MaxSold plans to use the funding for hiring as well as its ongoing expansion in the U.S., particularly in Boston, Atlanta and Philadelphia. (The Logic)
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The round was led by new investor Framework Venture Partners, with participation from existing investor the Canadian Business Growth Fund, and $5 million in growth capital from Silicon Valley Bank. Kingston, Ont.-based MaxSold plans to use the funding for hiring as well as its ongoing expansion in the U.S., particularly in Boston, Atlanta and Philadelphia. (The Logic)
Talking point: The company ventured into e-commerce about a decade ago and became a leader in the U.S. among online auctioneers for estate and moving sales. “The ongoing support of investors validates our mission—to make the process of selling a large volume of items approachable, quick and fun, and enables us to continue our commitment to customers all over North America,” said Sushee Perumal, CEO of MaxSold, in a release. It received a follow-on equity investment from the Canadian Business Growth Fund in February.
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