Intrepid Growth Partners, the fund launched by former CPP Investments CEO Mark Machin, led the deal with a $52.8-million investment in the AI-based software startup. Insight Partners and Y Combinator also invested, each making their third investment in CoLab. (The Logic, The Globe and Mail)
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Intrepid Growth Partners, the fund launched by former CPP Investments CEO Mark Machin, led the deal with a $52.8-million investment in the AI-based software startup. Insight Partners and Y Combinator also invested, each making their third investment in CoLab. (The Logic, The Globe and Mail)
Talking point: Founded in 2017 by Adam Keating and Jeremy Andrews, CoLab builds tools that help engineering teams review and collaborate on product designs. It’s one of several promising startups to emerge from the St. John’s tech scene in recent years, on the heels of Nasdaq’s $3.6-billion acquisition of local cybersecurity firm Verafin. The investment follows a US$21-million Series B round that Intrepid announced in May 2024. It plans to use the financing to develop new AI tools that speed up engineering design cycles.
Editor’s note: This briefing has been updated to reflect that the round amount is in USD.
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