JOLT Alumni Greengage Mobile Raises $1 million

Program highlights announced cohort

TORONTO, Oct. 30, 2013 /CNW/ - JOLT alumni Greengage Mobile today announced the completion of a $1 million funding round from the MaRS Investment Accelerator Fund (IAF), RBC Impact Fund and investors from Waterloo-based Golden Triangle AngelNet (GTAN).

The Toronto-based startup, which graduated from JOLT's summer 2012 program, is a software provider that focuses on enabling and rewarding positive health, green and community behaviours through its mobile platform. The funds will be used to grow the company and enhance the company's mobile app and web-based management platform.

"I am thrilled to congratulate Greengage Mobile on closing their seed financing round which exemplifies the core thesis of JOLT," said Kerri Golden, General Partner, JOLT Fund LP. "Great companies are built by visionary leaders that surround themselves with bold partners and collaborative thinkers that share the same values."

"JOLT was an incredible experience for Greengage Mobile," said Lindsey Goodchild, CEO, Greengage Mobile. "We entered JOLT as a small team with an ambitious vision and left with the resources and training needed to reach our goals. The JOLT team worked side by side with us and pushed us to up our game and move the company forward. The mentorship, connections and access to the MaRS network have been invaluable resources to our team."

JOLT, launched by MaRS Discovery District just over a year ago, focuses on accelerating high-growth web and mobile companies. The program recently announced its Fall 2013 cohort. With the addition of five new companies, JOLT has grown its portfolio of startups to 17 and network of founders to 50.

Here's a recap of the companies that make up JOLT's newest cohort:

Cumulonimbus: Cumulonimbus crowdsources live atmospheric data using sensors in Android devices with pressureNET, an open platform for sensor data collection.

LaunchPad: LaunchPad is a cloud-based mobile development and optimization platform that allows an entire team to make real-time changes to native apps.

Raise Your Flag: Raise Your Flag helps students who aren't going to university or college explore careers that don't require a degree or diploma and create career plans to gain meaningful employment.

Turnstyle Solutions: Turnstyle uses cutting-edge technology to provide businesses an unprecedented understanding of their customer behaviour.

xTouch: xTouch's technology enables virtually every surface to be touch-sensitive by simply placing a mobile device on it.

To learn more about these companies, check out JOLT's website - joltco.ca.

About MaRS
MaRS Discovery District (@MaRSDD) is a mission-driven innovation centre located in Toronto. MaRS works with partners to catalyze, accelerate and amplify innovation. MaRS supports entrepreneurs building Canada's next generation of growth companies. In the last three years, MaRS startup clients have raised over $750 million in capital, earned over $375 million in revenue and hired well over 3,500 workers into knowledge economy jobs.

About MaRS Investment Accelerator Fund
The Investment Accelerator Fund (IAF) (@MaRSIAF) provides seed funding to qualified emerging companies in Ontario. A critical component of the Ontario Network of Entrepreneurs (ONE), the IAF supports the launch and development of innovative companies in Ontario's priority sectors of advanced materials and manufacturing, information technology, cleantech and life sciences. To learn more, visit http://iaf.marsdd.com.

About Greengage Mobile
Greengage Mobile (@greengagemobile) is a web and mobile software platform that is designed to engage and drive adoption of health/wellness, community, and green actions on a large scale by prompting and rewarding positive behavioral changes through mobile. Founded in 2010, Greengage Mobile is headquartered in the heart of Toronto, Canada and is backed by the MaRS IAF, RBC Generator Fund, and GTAN investors. For more information, visit https://www.greengagemobile.com/.

About JOLT
JOLT (@joltco) is a Toronto-based startup accelerator dedicated to building high-growth Canadian web and mobile companies. JOLT offers these selected companies working space in the MaRS Commons, seed financing and mentorship, as well as access to seasoned partners and some of the top angel and venture capital investors in the industry. By combining the expertise of its numerous partners in the creative arts, design and technology sectors with MaRS' business-building experience, JOLT provides the selected companies with business validation, streamlined market entry and a greater opportunity for success.

SOURCE: MaRS Discovery District

Sue McGill
Executive Director, JOLT
[email protected]