Toronto security startup studio Peloton Innovations has raised $3 million in a seed-stage financing. The round was led by Elevate Toronto CEO Razor Suleman, Globalive Capital and TD Ameritrade CEO Tim Hockey. Peloton is focused on creating B2B and B2C products and services used in the protection industry. The funds raised will support the company’s spin out of a first security startup in early 2018. Launched last year, Peloton is majority owned by Craig Campbell, founder and CEO of Resilience Capital. Peloton’s other backers include Klass Capital and Purpose Investments CEO Som Seif.
Toronto-based startup studio Peloton Innovations raises $3 million seed round
TORONTO – Peloton Innovations, the world’s only startup studio focused solely on the security industry, has raised $3 million in seed funding. The investment group was led by Elevate Toronto CEO Razor Suleman, Anthony Lacavera’s Globalive Capital, and TD Ameritrade CEO Tim Hockey. The investment will be used to provide a financial runway as Peloton gets ready to launch its first company.
“This is an important step in the development of our startup studio,” says Peloton Innovations co-founder Mark Wires. “This initial investment, along with the experience of our investors, provides us with a solid base as we prepare to spin out our first company in early 2018.”
Peloton is developing products to disrupt the $50 billion a year physical security industry. Co-founder Craig Campbell has worked in the space for two decades, creating industry leader Total Security Management in 1999.
“The security industry has been slow to adopt new technologies,” says Craig Campbell. “It’s a huge market that has failed to adapt, and there’s a big opportunity for new products that leverage technology to create efficiencies in the physical protection space.”
Some of the investors involved in Peloton’s initial funding round include:
– Razor Suleman, CEO of Elevate Toronto
– Som Seif, CEO of Purpose Investment
– Jordan Banks, Managing Director of Facebook Canada
– Tim Hockey, CEO of TD Ameritrade
– Sean O’Leary, CEO of SafeTech Security
– Anthony Lacavera, Globalive Capital
– Darcy Kernaghan, CEO of Securiguard
– Klass Capital
Peloton’s mission is to turn ideas into products, and products into companies. Products are developed in-house, and once they prove to be commercially viable, they will be spun out into standalone companies. Peloton is always looking for talented co-founders with product ideas that will attract new customers.
About Peloton Innovations
Peloton Innovations is the world’s only startup studio focused solely on the security industry. Peloton uses its deep industry experience and leading technical skills to create disruptive B2B and B2C products and services. Peloton’s mission is to turn ideas in to products, and products in to companies. Launched in 2016, Peloton is headquartered in Toronto. For further details, visit pelotoninnovations.com.
Nick de Pass
Kaiser Lachance Communications
Photo courtesy of Peloton Innovations