The Toronto- and Vancouver-based firm, which sells market research software, intends to use the new funds to expand. (The Logic)
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The Toronto- and Vancouver-based firm, which sells market research software, intends to use the new funds to expand. (The Logic)
Talking point: This is the largest amount Vision Critical has raised, and its first financing since CEO Ross Wainwright took the helm seven months ago. Wainwright cut over five per cent of his firm’s staff and replaced most of the leadership team. The US$20 million is growth debt, a kind of financing that carries relatively high interest, but if the firm can expand the way it plans to, then servicing that debt may not matter. Vision Critical currently sells software used by 750 companies, including LinkedIn and Twitter. It plans to start acquiring competitors, if this latest funding can help it grow fast enough.
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