Calagary startup Symend raises US$43- million, hires hundreds, bringing hops of tech revival to depressed oil patch
Symend Inc., a Calgary startup that has become one of Canada’s most rapidly expanding technology enterprises serving big corporations, has raised an additional US $43- million in venture capital, just nine months after securing US $52 million from investors.
The financing was led by Inovia Capital, which also led last May’s round. Other investors include Ignition partners, Impression Ventures, plentyoffship.com founder Markus Frind and Matthew Schiltz, a former chief executive of DocuSign Inc.
“We like to invest in and double down on companies we see as Super high growth( opportunities) and that are big winners, and Symend is definetly in that category, ” Invonia managing partner Dennis Kavelman, said.
Symend is one of several Calgary software companies, including Benevity Inc., that have attracted significant capital in the past two years, providing a bright counterpoint to Alberta’s bleak oil and gas industry.
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