Follow on investment by top VC boosts company’s growth efforts
Toronto, ON, September 15, 2011: gShift Labs, the creator of a patent-pending Search Engine Optimization (SEO) software system that is giving marketers better control over their organic search campaigns, today announced a $1.1 M investment by GrowthWorks, one of Canada’s leading venture capital managers. With GrowthWorks as lead investor, gShift is eligible and will receive an additional $500,000 in investment from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario).
The announcement was made at the grand opening of gShift’s new offices attended by GrowthWorks and Barrie MP Patrick Brown. This round of financing will help propel the company’s next stage of product development and fuel sales and marketing efforts as the company scales its industry leading software, Web Presence Optimizer™.
“Early stage investment has been critical to the growth of gShift Labs as we grow our team and develop a unique SEO management software product that’s gaining tremendous traction with customers,” says Krista LaRiviere, Founder and CEO, gShift Labs. “This Series A funding will enable us to further tap the wealth of talent in Southern Ontario and lays the groundwork for us to build on our early success in a fast growth sector.”
gShift Labs received numerous startup awards in 2010, including being named one of Canada’s Hottest Innovative Companies at CIX 2010, along with an initial round of $500,000 in seed money from the MaRS Investment Accelerator Fund (IAF) that helps new technology companies being established in Ontario and positions them for further investment by angels and VCs.
“gShift is a great example of what GrowthWorks looks for in early-stage investments,” says Scott Pelton, Vice President at GrowthWorks Capital Ltd. “The team and technology is top notch and we like the market that gShift competes in. We’re happy to join gShift in partnership through this financing and look forward to working with many other similar high-growth businesses.”
Barrie MP Patrick Brown also commented, “Our government is committed to making sure the people, businesses and communities of southern Ontario have the tools they need to succeed,” said MP Brown. “This investment in gShift will help the company grow and create new jobs.”
Over the last 18 years, GrowthWorks has established itself as one of Canada’s leading retail venture capital managers. Through regionally based retail venture capital funds (RVCs), GrowthWorks identifies, analyzes, and structures investments in companies with high growth potential. Particular emphasis is placed on the burgeoning Canadian information technology, life sciences and cleantech sectors. GrowthWorks is currently the largest retail venture capital investor in Canadian “green technology” companies, and one of the largest managers of retail venture capital funds in Canada. GrowthWorks has assets under management of approximately $480 million. Visit growthworks.ca.
About FedDev Ontario
FedDev Ontario was funded as part of Canada’s Economic Action Plan to support economic and community development, innovation, and to diversify the southern Ontario economy. FedDev Ontario helps workers, communities and businesses in southern Ontario position themselves to take advantage of economic opportunities as growth recovers in Canada and around the world. Visit: www.feddevontario.gc.ca
About gShift Labs
gShift Labs provides SEO software for non-SEO professionals by giving marketers control over their organic search campaigns. Companies across North America are getting top organic ranking in search engines using gShift’s Web Presence Optimizer™ (WPO), which simplifies, demystifies and standardizes the way a website gets found on the internet. Organizations of all sizes benefit by reducing the time and resources required to analyze and improve organic search optimization. Winner of numerous technology awards, gShift is considered one of the hottest software innovation companies in Canada. For more information visit: www.gshiftlabs.com
gShift Labs, Senior Marketing Manager