Nudge said it will put the money toward growing its data-science team and expanding its growth over the past year, which includes a 200 per cent revenue jump and a 40 per cent headcount increase. Nudge is a tool employers use to communicate with employees, who get points for using the app. This round brings its total funding to over $19 million; it was led by Chicago-based Jump Capital. (The Logic)
Talking point: Nudge is one of the few women-led or -co-founded Canadian tech firms to get eight-figure private funding. Its founding team is two-thirds women, and the majority of its executive team is made up of women. Women-led companies still receive the minority of investments made in the country. In March, my colleague Catherine reported that nearly 90 per cent of Canadian venture capital deals since 2014 went to companies founded exclusively by men. Jump Capital typically invests in U.S. companies (all but one of its other 2019 investments were in America). Several Canadian investors also participated in this round, including Montreal-based Brightspark Ventures, which led the company’s seed round, and the Business Development Bank of Canada.