TORONTO – November 1, 2019 – The Logic today announced it has raised $1.8 million (CAD) in seed financing from Postmedia, Relay Ventures and angel investors. The funding will enable The Logic to expand its editorial staff and news bureaus in Canada, invest in sales and marketing, provide further support for its customer success teams and build its operational infrastructure as growth demands.
The Logic’s award-winning subscription news platform provides in-depth information on the innovation economy and on Canada’s transformation into a knowledge-based economy. Its reader-focused journalism sets the agenda on issues such as artificial intelligence, digital currency and smart cities, and on policy approaches to the social, political and economic impact of technology in our lives.
“This financing round reflects the growing interest in our commitment to accurate, independent and agenda-setting journalism that you won’t find anywhere else,” said David Skok, founder and CEO of The Logic. “This investment will support The Logic’s national expansion and distribution efforts, giving more Canadians a chance to debate and discuss some of the critical issues that we face at this important time.”
“We’re excited to be a part of The Logic’s journey and look forward to the new opportunities we can discover through our collaboration,” said Andrew MacLeod, president and CEO of Postmedia.
“The Logic’s early traction with customers has paved a path to continued growth that we’re excited to support,” said Irfhan Rawji, Venture Partner with Relay Ventures.
Headquartered in Toronto, The Logic already has a bureau in Ottawa and recently announced a Quebec expansion with a new bureau in Montreal. Its customers include leading executives, with more than half of all subscribers being in senior executive or equivalent roles.
About The Logic
The Logic Inc. launched in 2018, and has already staked its place at the centre of Canada’s journalism ecosystem. It has the largest team of innovation reporters in the country, its Daily Briefing has become a 4 p.m. ET must-read for decision makers, and its award-winning investigative journalists have exposed everything from Facebook’s discriminatory advertising policies (now reversed), to the price the government was expecting for selling off Canada’s airports, to the controversial deals between Toronto and Google sister company Sidewalk Labs. For more information, visit www.thelogic.co.
About Postmedia Network Inc.
Postmedia Network Inc., a wholly owned subsidiary of Postmedia Network Canada Corp. (TSX:PNC.A, PNC.B), is a Canadian newsmedia company representing more than 140 brands across multiple print, online, and mobile platforms. Award-winning journalists and innovative product development teams bring engaging content to millions of people every week whenever and wherever they want it. This exceptional content, reach and scope offers advertisers and marketers compelling solutions to effectively reach target audiences. For more information, visit www.postmedia.com or www.postmediasolutions.com.
About Relay Ventures
Relay Ventures is an early stage technology venture capital fund. Founded in 2008, Relay has offices in Toronto, San Francisco and Menlo Park and invests throughout North America. For more information please visit: www.relay.vc
For further information, contact Alex Brown of The Logic at [email protected]