Thoughtexchange closes Series B at C$34m, HarbourVest invests

Vancouver, British Columbia-based Thoughtexchange, an advanced platform for scaling conversations, has wrapped up its Series B financing at C$34 million. HarbourVest Partners joined the round’s prior investors, which include Information Venture Partners, Yaletown Partners and Voyager Capital.

PRESS RELEASE

VANCOUVER, BC – November 10, 2020 – Thoughtexchange, the most advanced platform for scaling conversations, today announced adding Boston’s HarbourVest Partners to its list of investors which completes a Series B equity financing now totaling $34M.

“2020 has accelerated a permanent change to the way organizations operate,” said Dave MacLeod, co-founder & CEO, Thoughtexchange. “Voices need to be heard, in an inclusive and unbiased way, if leaders want to uncover the issues that are getting in the way of growth and success.”

Senia Rapisarda, Managing Director, HarbourVest Partners said, “Today’s dynamic business environment requires effective communication between leaders and their stakeholders. With changes to how people work, including operating remotely, the ability to quickly and effectively tap opinions and insights of teams will allow leaders to make more informed decisions. Thoughtexchange is well-positioned to help organizations achieve this objective.”

Consistently recognized as one of Canada’s fastest-growing companies, Thoughtexchange has recently passed 100 corporate customers which include many Fortune 500 brands like Allstate Insurance, McDonalds and American Airlines. Usage increased dramatically as leaders responded to the pandemic crisis and prioritized diversity and inclusion initiatives in their organizations. Millions of people have now engaged in candid crowd conversations using Thoughtexchange software.

“Having HarbourVest participate directly in this round is validation of the trajectory Thoughtexchange is on and how significant its future potential is viewed,” said Rob Antoniades, co-founder & General Partner at Information Venture Partners. “As well as bringing capital support, the HarbourVest team has global reach and experience backing growth companies like Thoughtexchange. We’re immensely excited to have them join our group of core investors.”

About Thoughtexchange

Thoughtexchange’s voice platform enables leaders to easily scale mission-critical conversations to include hundreds and even thousands of people. Participants are invited to share candid thoughts and then rate others’ thoughts without knowing who shared them, eliminating an enormous list of biases such as ethnicity, gender, rank, etc. Involving everyone in sharing their thoughts about decisions that affect them uncovers critical insights while building a culture of inclusion and trust. Patented data analysis and AI provides deep insights and surfaces actionable intelligence to help leaders make better-informed decisions. Thoughtexchange has employees in remote offices across Canada and now has a growing team in the USA.
For more information, please visit www.thoughtexchange.com

About Information Venture Partners

Information Venture Partners is a Toronto-based team of experienced venture capital investors focused on backing the next generation of leaders in B2B FinTech and Enterprise SaaS. Current investments include BigID, Coconut Software, Flybits, Knowtions, LendingFront, PostBeyond, Procurify, Q4, Sensibill, Jirav, Thoughtexchange, Verafin, and Cinchy.

For more information, please visit http://www.informationvp.com