Canadian Research Tech Firm Potloc Raises CAD$35m

In Canada, research tech firm Potloc has raised CAD$35m in a Series B round comprising new equity funding and debt financing. The investment will be used to accelerate go-to-market strategy in North America and Europe, including recruitment of 120 more staff in Montreal, New York and Paris.

Founded in 2014 and headquartered in Montreal, Potloc also has offices in Toronto; Paris, France; and Geneva, Switzerland. The firm uses the targeting capabilities of social media platforms such as Facebook, Twitter, LinkedIn and Instagram, to survey precisely defined and hard-to-reach audiences, and says its social media sampling technology can be used to reach any niche audience or conduct geo-targeted surveys.

The new financing has been led by Investissement Québec, with participation from First Ascent Ventures and a number of initial investors; and debt financing provided by CIBC Innovation Banking, bringing the total raised in the past eighteen months to CAD$58m. Potloc will also use the funds to continue to develop and add machine learning to its social media sampling technology.

Potloc co-founder and CEO Rodolphe Barrere (pictured), comments: 'Obtaining high-quality first-party data has been an Achilles heel for the research industry because of outdated and flawed methods to survey consumers. Every day, we help our customers make better decisions thanks to our outstanding data quality'.

Web site: www.potloc.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.