Statflo Announces New Funding to Drive Company's Growth Rate

By StartUp City | Thursday, November 12, 2020

Statflo was recently announced as part of the exclusive MaRS Momentum project, a multi-sector program designed to support high-growth Canadian technology companies on their way to reaching $100 million in revenue in the next five years.

FREMONT, CA: Statflo, the leading one-to-one business text messaging platform that empowers brands to engage, retain, and grow their customer base, announced new funding to propel the company’s high growth rate further.

The funding was supported by Statflo’s premier shareholders, including Round 13 Capital, Elsewhere Partners, Generation Ventures, Globalive and MaRS IAF, and the BDC Capital Bridge Financing Program, a matching program designed to support Canadian start-ups proactively sustain growth throughout COVID-19. In parallel, Statflo also secured debt financing from one of Canada’s leading tier-one financial institutions with support from the Export Development Bank of Canada (EDC).

Statflo has enjoyed tremendous success serving thousands of frontline personnel within the largest telecom operators and their most significant authorized dealers in North America. During the height of the pandemic, the company recorded the signing and onboarding of several marquee customers. This new funding now places Statflo in a powerful position to execute its aggressive expansion plan into new markets.

Peter Macnee, the CEO, commented, “We’re so proud of our amazing team that continues to over-achieve with superior results. And it’s a great honor to be recognized as part of MaRS’ select group of high growth companies. Our success with funding is yet another validation of our leading position in the business messaging market. Statflo’s ability to deliver fully compliant, personalized customer engagement products for our customers continues to drive demand in new market segments across Canada and the United States.”

Statflo’s growth and market expansion, supplemented by the latest round of funding, has further cemented its position as a leading player in the business text messaging market for large enterprises with a mission to provide secure, compliant, and reliable messaging solutions to leading brands.

“It’s no secret that COVID-19 has been challenging for many businesses but Statflo has demonstrated its resilience and ability to source means for continued growth throughout these turbulent times,” stated Craig Strong, General Partner at Round 13 Capital.

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