Influitive Raises Funds and Makes Acquisition

Toronto and San Francisco-based customer advocate management specialist Influitive has raised an additional $8.2m in a Series B extension round. The firm has also acquired community building app developer Ironark Software for an undisclosed sum.

Influitive's AdvocateHub community platform allows marketers to drive endorsements from their customers, followers and 'evangelists' from social media reviews, customer referrals, case studies and references. In return customers earn points that can be used for a variety of perks and privileges. The firm's latest funding round has been led by new investors Leaders Fund and Export Development Canada, returning investors including Georgian Partners, Relay Ventures, BDC Capital IT Venture Fund and OurCrowd, and several angel investors. This brings the total Series B round investment to more than $38m and the total amount raised by the company since it was founded in 2010, to approximately $50m.

In addition, Influitive has acquired Ironark Software, the company behind mobile app Hub, a home and family organizer, and Workbase, a business task and schedule manager. As part of the deal, Ironark's founders and lead developer will join Influitive's product division to help extend its advocate communities to mobile.

Mark Organ (pictured), CEO and founder of Influitive, comments: 'This additional investment strengthens an already deep bench of investors backing us. In addition, the acquisition of Ironark brings strong talent who align with our focus on community building and exceptional mobile experiences for our customers'.

Web sites: www.influitive.com and www.hubapp.com .

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