GreenSky Capital Inc. (â€œGreenSkyâ€™â€˜) is very pleased to announce that the GreenSky Accelerator Fund IV, LP (the â€œFundâ€) has led a CAD$2.25M financing round in Ontopical Inc. The round included investment from GCI Capital and angel investors from the GreenSky Presidentâ€™s Club.
Calgary-based Ontopicalâ€™s SaaS platform aggregates, organizes, and makes searchable both historical and current local government public information. Ontopicalâ€™s customers gain the ability to search meeting agendas, minutes, video recordings, budgets, plans, etc. from 90,000+ municipalities and local government organizations in North America. Custom machine learning models update the information in real time and provide alerts built around specific search terms, geographies and other criteria as set up by the customer. Customers use the Ontopical platform for a number of business development purposes, including obtaining early indications of RFPs (Requests for Proposals) and to identify other business opportunities with municipal and local government which, although potentially lucrative, can be difficult to identify.
â€œEveryone benefits when the needs of our communities are fully transparent to those who can help fulfill them,â€ said Ontopical Founder and CEO Derrick Koenig, â€œHowever, local governments donâ€™t always have time to share these upcoming needs with vendors until an RFP is officially posted. With most proposals coming due within only four weeks from when an RFP is posted, this often does not give businesses enough time to submit accurate proposals, much less put their very best foot forward. Ontopical serves as a platform where private sector companies can stay on top of these upcoming needs.â€
Proceeds of this round will be used to expedite product development and expand sales and marketing initiatives. Said GreenSky Managing Partner, Greg Stewart: â€œOne of the phrases venture firms often use to describe lack of ideal product-market fit is â€˜a solution searching for a problem.â€™ Ontopicalâ€™s platform is the opposite. Ontopical is solving a massive problem and customers rave that this solution is a game changer for their industries. We believe that Derrick and his team are the right people to deliver this solution.â€
Greg Stewart,Managing Partner, GreenSky Capital, firstname.lastname@example.org
Derrick Koenig, CEO, Ontopical, email@example.com
Founded in 2020, Ontopical is a Canadian technology startup that provides market intelligence by capturing thousands of agendas, minutes, and videos from government meetings to allow businesses to get early signals of upcoming RFPs and other commercial opportunities. Ontopical has been part of prestigious Berkley SkyDeck, Creative Destruction Lab and 43 North.
About GreenSky Capital Inc.
GreenSky Capital Inc. is an award-winning Toronto-based firm that makes investments in early-stage Canadian technology companies through its affiliated venture capital funds and through facilitating the GreenSky Presidentâ€™s Club, a FedDev-registered angel group. Our 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 www.greenskycapital.com