TORONTO — Platform Group Limited “Platform”, a capital markets financial technology company, announced the closing of a $1.5 million seed financing round. The round was led by MaRS Investment Accelerator Fund (IAF), co-led by Blindspot Inc. and included other strategic and professional investors.
The new funds will accelerate Platform’s ability to scale the engineering, product, research and support teams for its foundational product, Irwin, an investor relations software product designed to empower public companies to intelligently target, monitor and interact with global investors.
“As the sell-side continues to evolve, companies of all sizes are finding it more difficult to access capital markets than ever before. Our goal is to build solutions that help our clients adapt to this new market structure and make more meaningful, targeted outreach to potential investors directly and proactively,” says David Whyte, CEO and Co-Founder at Platform. “The current method of connecting capital seekers and allocators is opaque, antiquated, and manual. We are on a mission to bring transparency and efficiency to the process.”
“Our view is that capital market participants, from investor relations to investment banking to private equity, have not yet benefited from many of the technologies and innovations that have been used to accelerate other data- and sales-driven industries,” says Mark Fasken, COO and Co-Founder at Platform. “As Irwin’s data, network and infrastructure continues to grow, we see a clear path to providing a winning solution for the entire ecosystem.”
Since its inception in 2017, Platform has focused on partnering with small and mid-cap companies, which represent an underserved segment of the market that is experiencing immense pressure as the investment industry evolves. With a growing set of unique and proprietary data sets, Irwin is able to provide its customers with insights to seamlessly organize their investor relations function so that management teams can focus on what they do best – building and growing their business.
“Platform exhibits all of the qualities that we look for in early-stage companies, including a scalable product and founders with the grit and domain expertise to execute on their growth plans. They have a huge opportunity in front of them and it’s one that we understand well,” says Craig Leonard, Investment Director at MaRS IAF. “It’s crucial that in the face of structural and regulatory change in financial markets, companies more actively and effectively engage with investors by leveraging data and analytics.”
About Platform Group
Platform Group is a leading provider of capital markets-focused financial technology with a mission to seamlessly connect the world’s capital seekers and allocators to make them more productive, innovative and successful. To learn more about Platform Group and Irwin visit www.getirwin.com.
About MaRS IAF
The MaRS Investment Accelerator Fund (IAF) helps build and strengthen Ontario-based businesses in the cleantech, ICT, and life sciences & healthcare sectors. Funded by the Province of Ontario, the IAF program is managed by MaRS and delivered through the Ontario Network of Entrepreneurs. For more information and to apply, please visit marsiaf.com.
About Blindspot Inc
Blindspot is comprised of a seasoned team of investors and entrepreneurs. Each is committed to supporting and developing meaningful innovation in technology with applications to wealth management in North America. Together with founders, entrepreneurs and financial services executives, Blindspot combines new capabilities with expertise, capital and contacts to develop and propel new products, platforms and partnerships, faster and further to meet the new tests of customer experience in the spotlight of the digital age. To learn more about Blindspot visit blindspotinc.ca.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190606005722/en/
David Whyte | firstname.lastname@example.org
Mark Fasken | email@example.com