LaunchSpot.io, a Waterloo Region-based software-as-a-service product has been acquired by Hockeystick. LaunchSpot.io is used by startup ecosystems to automate and simplify how startup ecosystems connect companies with mentors, track their progress and report to funders.
Top startup ecosystems across Canada have adopted LaunchSpot’s flexible technology to change the way they communicate with their companies, share ideas, manage growth and analyze key insights.
Hockeystick is Canada’s leading private market data network and with this strategic acquisition of LaunchSpot it will accelerate the development of Hockeystick’s product offering for innovation organizations — accelerators, incubators and innovation hubs.
“This acquisition is a great win for innovation organizations. I am confident that LaunchSpot will thrive in its next phase with Hockeystick,” said Rob Darling, LaunchSpot’s Founder and CEO. “By leveraging Hockeystick’s market leadership, expertise and partnership with the Lazaridis Institute, LaunchSpot’s technology will be quickly utilized by more innovation organizations across Canada and around the world.”
“With the acquisition of LaunchSpot, Hockeystick will now offer a suite of operations and data tools for innovation organizations,” said Raymond Luk, Hockeystick’s Founder and CEO. “LaunchSpot is a proven product with a similar customer base and we look forward to expanding its reach and scale through our network.”
Hockeystick will continue to offer the product as a stand-alone service and will take over its development and maintenance. The company will also be added to Hockeystick’s backend infrastructure.
Thanks to Hockeystick’s partnership with the Lazaridis Institute, Canadian accelerators will now have the option to use LaunchSpot free of charge.
“This acquisition by Hockeystick builds on the exciting partnership we announced in April of this year — to create a national data platform for private companies,” said Kim Morouney, Managing Director of the Lazaridis Institute at Wilfrid Laurier University. “We’re pleased that the added functionality announced today will further increase the value of the platform to accelerators and incubators across the country.”
LaunchSpot is a platform that helps startup ecosystems connect companies with mentors, track company progress and report to funders. LaunchSpot was funded by Communitech Hyperdrive accelerator for early stage startups in 2013.
Hockeystick is a financial market data network that provides deep insight into private companies. Hockeystick’s network connects a firm’s financial data directly to the venture capital, private equity and innovation ecosystems. Fund managers and analysts use Hockeystick to accurately track, compare and predict company performance. More than 12,000 private companies and top Canadian funders belong to the Hockeystick network. www.hockeystick.co
About the Lazaridis Institute
The Lazaridis Institute is focused on a specific national challenge – the need for more globally competitive technology companies in Canada. The Institute helps Canadian technology companies reach their next level of growth through world-class support in the Scale-Up Program, through front-line training in the Tech Sales Apprenticeship initiative, and through a global network of business and technology experts who provide mentorship, connections, and valuable experience.
Laura Curk, Marketing Manager
Communitech is a partner of Startup HERE Toronto. This article originally appeared on their site.