We’re excited to announce today that Quovo’s total funding is now $20 million, following the closing of our Series B round extension. Our investors for the Series B extension include Portag3 Ventures, a leading Canadian-based venture capital firm exclusively sponsored by Power Financial Corporation, IGM Financial Inc. and Great West-Lifeco Inc, and Salesforce Ventures, the corporate investment group of the global CRM leader. The combined investment will support Quovo’s continued expansion in the US and Canada.
“Salesforce Ventures and Portag3 Ventures are well-established in their spaces: Salesforce pioneered the software as a service model and they’ll be an excellent resource for Quovo as we continue to expand. Portag3 is a leading investor in Canadian fintech and their strong connections have already helped us to cultivate relationships quickly in the Canadian market,” said Lowell Putnam, CEO of Quovo. “Salesforce and Portag3 bring an immense amount of strategic value to Quovo and everyone at the company is excited to have their support.”
Capital from Salesforce Ventures provides additional support for Quovo’s growth plans, including executing an extensive hiring plan, relocating its headquarters to a larger space, and continuing to develop the capabilities of its technology. The investment from Portag3 Ventures is enabling Quovo to build out a presence in the Canadian market, including the expansion of its institutional coverage and data model to include Canadian firms and financial account types.
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