Toronto-based PostBeyond Inc has closed a $4 million Series A financing. Canadian venture capital firm Information Venture Partners, which earlier this year raised an initial $72.5 million for its second fund, co-led the round with Export Development Canada. Founded in 2013, PostBeyond has created technology that helps to increase brand recognition by enabling employees to share corporate content on social media. It reported expansion in its global client base as well as growth in 2015 year-over-year sales of over 300 percent. PostBeyond will use the funds raised to enhance customer engagement resources and accelerate the development of its solutions.
PostBeyond Raises $4M to Accelerate Global Expansion of its Employee Advocacy Solution
Company now building on triple digit sales growth worldwide
TORONTO, July 13, 2016 /PRNewswire/ – PostBeyond, a leading employee advocacy solution that helps enterprises increase brand recognition by enabling employees to share corporate content on social media, announced today that it has raised $4 million in Series A funding, led by venture capital firm Information Venture Partners and Export Development Canada.
“With a focus on customer service and expertise, PostBeyond has emerged as the leading partner for global brands such as Molson Coors, Scotiabank, and many others,” said Ivan Tsarynny, CEO and Co-founder, PostBeyond. “In the past three years, we’ve secured major clients across North America, Europe, Asia, and Australia, and have grown 2015 year-over-year sales by over 300%. With this funding, we can accelerate our growth even further.”
PostBeyond plans on using the newly acquired funds to expand customer engagement resources and accelerate the development of innovative solutions.
PostBeyond’s proprietary employee advocacy solution helps organizations securely involve their employees in social media sharing. With PostBeyond, employees can read corporate content on mobile or web, then share it with their personal social networks from a single, common solution. The result is a socially engaged employee who demonstrates brand value to the marketplace through one-to-one relationships at scale.
“We look forward to accelerating our growth in major global markets as we help organizations engage their employees,” said Chad McCaffrey, VP Global Sales, PostBeyond. “Together, we’ll redefine the standard for employee engagement.”
“Through smart growth, PostBeyond has been able to continually attract top-tier enterprise clients who understand the value that employees play in building their brand,” said Robert Antoniades, Co-founder and General Partner, Information Venture Partners. “The platform has emerged as the preferred choice for large enterprises of over 5,000 employees, reporting a significant increase in employees sharing and earned media value.”
“Given how innovative and well-suited their product is to the growing trend of employee engagement, it’s no surprise how quickly and broadly PostBeyond has been able to expand their international business,” said Paul Day, VP Investments, EDC. “We look forward to growing alongside this promising Canadian SME as they attract more customers both domestically and abroad.”
About Information Venture Partners:
Information Venture Partners (IVP) is a Toronto-based venture capital group investing out of its $95M second fund. IVP is focused on fast-growing enterprise fintech and enterprise software companies based in North America. As a Series A and B investor, IVP looks for rapidly growing companies with differentiated technology solutions addressing significant market opportunities. Portfolio companies include Adaptive Insights, Verafin, Igloo Software, eSentire, and Q4.
About Export Development Canada
EDC is Canada’s trade finance agency, providing financing and insurance solutions locally and around the world to help Canadian companies of any size respond to international business opportunities. EDC also has one of Canada’s largest investment programs, which provides venture capital and private equity in support of growing and developing Canadian companies. As a profitable Crown corporation that operates on commercial principles, EDC works together with private and public-sector financial institutions to create greater capacity for Canadian companies to engage in trade and investment.
PostBeyond is a leading employee advocacy solution chosen by global enterprises for their guidance, simplicity, and insight. The solution helps increase brand recognition by enabling employees to share corporate content on social media. Clients such as Starbucks, TIBCO, Select Comfort, Rosetta Stone, and PGA can cultivate socially engaged employees to demonstrate brand value to the marketplace through one-to-one relationships at scale. PostBeyond is based in Toronto, with clients worldwide.
Photo courtesy of PostBeyond Inc