TORONTO, Canada – July 19, 2024
Ethica, a Toronto-based software company, announces the successful closing of a significant investment round led by GreenSky Ventures, a leading Toronto-based venture capital firm focused on supporting Canadian tech start-ups. This investment will accelerate the global growth of CloudAccess, Ethica’s innovative Software-Defined Internet Access (SDIA) solution.
The internet services market is undergoing a significant transformation due to the rapid adoption of cloud applications. Businesses and consumers alike demand fast, stable, and resilient internet connections to support real-time applications such as VoIP, video streaming, and POS transactions. In many emerging economies, there is an urgent need for reliable last mile connectivity. Legacy solutions like Software Defined – Wide Area Network (SD-WAN) are frequently cost-prohibitive and complex to manage, creating an opportunity for SDIA to disrupt the industry by delivering cost-efficient, high-quality internet services regardless of the last mile connectivity options.
Ethica is positioned to address this gap by offering a virtually plug-and-play SDIA solution that Internet Service Providers (ISPs) can embed into their core products. By adopting CloudAccess, ISPs will insulate their customers from network disruptions, maintaining connectivity even during network failures. Additionally, CloudAccess can extend the life of existing legacy assets by bonding slower links in regions without high-speed broadband (HSB) access.
“Greensky’s investment reaffirms our vision of delivering enterprise-grade internet connectivity to the masses all around the globe,” said Alan Zimmermann, CEO of Ethica. “With this funding, we will accelerate our global growth strategy and empower ISPs to meet the evolving demands of their customers, no matter where they are.”
“We see a massive market opportunity in the shift towards cloud-based applications and the need for reliable internet connectivity worldwide. Ethica’s CloudAccess is uniquely positioned to lead this change, and we are excited to support their growth,” said Mike List, Managing Director at Greensky.
About Greensky Ventures:
GreenSky Ventures is an award-winning Toronto-based firm that makes investments in early-stage Canadian technology companies through its affiliated venture capital funds, GreenSky Accelerator Funds I – VI. GreenSky principals bring a combination of experience in technology, entrepreneurship, law and finance to high-growth potential companies and dedicated entrepreneurs. Learn more about GreenSky at greensky.vc.
About Ethica:
Ethica is an innovative software company based in Toronto, dedicated to solving critical connectivity challenges. Its flagship product, CloudAccess, provides resilient, session-proof internet access, enabling ISPs to deliver better internet experiences and reduce costs.
For more information about CloudAccess and Ethica’s partnership with Greensky, please visit www.ethica.partners / www.greensky.vc or contact info@ethica.partners
Contact:
Brad Lagasse
Chief Product and Revenue Officer
Ethica Channel Enablement Inc.
+1 416 908 7767
sales@ethica.partners
