Investment – Tutela Technologies Closes Financing Round
Alacrity Global is proud to announce that Tutela Technologies, an Alacrity Canada portfolio company, recently raised a pre-Series A investment round. The round was lead by the Vancouver Founders Fund with Wesley Clover joining to complete the round. This is the first time that the Vancouver Founders Fund and Wesley Clover have invested together.
Owen Matthews, Chair of the Alacrity Foundation, “I am very proud of Tutela. We are all confident we are going to see more great things from Tutela.”
Making Better Mobile Networks
Tutela collects and analyses anonymous performance and usage data from millions of mobile devices around the globe everyday. With this unique data Tutela is able to deliver actionable insights to the worlds largest mobile and telecom providers. Based on their unique approach, their dataset provides the highest resolution map of wireless network quality available today.
Hunter McDonald, CEO of Tutela and a Alacrity Canada graduate, believes this round of financing will “Greatly accelerate the growth of Tutela. This funding is going to allow us to keep adding new, innovative value to our platform and accelerate our global market expansion.”
A Bright Future Ahead
Wesley Clover and the Vancouver Founders Fund represent many years of investment and operating experience. This experience makes this investment a testament to the eco-system Alacrity Canada has helped to establish. The industry knowledge these two groups bring to the table will be of great value to Tutela and the eco-system as a whole.
The Vancouver Founder Fund was created by the co-founders of Recon Instruments, Dan Eisenhardt and Fraser Hall. Following the sale of Recon (for $175M) and understanding the lack of a capital market for early stage startups in Canada, Dan and Fraser formed VFF. Now they set out leading or co-leading seed rounds of $500K – $1M in companies primarily in Western Canada.
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