Toronto-based startup Rubikloud nets over $1 mln in seed funding


Rubikloud Technologies Inc has closed over $1 million in seed-stage financing. The investors were Hong Kong-based Horizons Ventures, Canadian venture capital fund MaRS Investment Accelerator Fund, managed by Toronto-based innovation hub MaRS Discovery District, and private angel investors. The company says the capital will be used for scaling the engineering team. Based in Toronto, Rubikloud is a provider of big data solutions.

PRESS RELEASE

Toronto, Ontario – November 18, 2013 – Rubikloud Technologies Inc. (@Rubikloud) announced today that it has raised over $1 million in a seed-financing round led by international investor, Horizons Ventures (technology investment arm of Li Ka Shing), MaRS Investment Accelerator Fund (IAF), and private angel investors. The investment will be used primarily for scaling the engineering team.

Founded by Kerry Liu, Daniel Theirl, and Frank Thomas in early 2013, Rubikloud is building the next generation big data platform. With Rubikloud, data no longer needs to sit in silos within an organization. Current technologies to process large volumes and velocities of data rely on slow batch processing techniques that require too much infrastructure and take way too long to process. With Rubikloud, companies can stream and process this data in real-time. What took hours to days now takes seconds to minutes.

“No buzz words here. Everyone is claiming to be a big data company, but we ACTUALLY are, said Kerry Liu, CEO of Rubikloud Technologies. “There is too much noise in the industry but once you cut through it, there is tremendous value for the end customer. We spoke to 30+ different companies before writing a single line of code. Our products will simplify the big data landscape and provide immediate business value for online businesses. Right now we’re focused on scaling the team and delivering the best possible product to our early customers.”

“We’re excited to be part of the private beta of Rubikloud,” said Krishnan Srinivasan, CTO of Flight Network. We know the big data and analytics market well and are impressed with Rubikloud’s roadmap and vision towards an ROI driven analytics engine.”

With half a dozen enterprise customers in private beta, the team is planning to publicly launch its product in the New Year. Rubikloud is hiring brilliant and creative engineers who want to solve difficult problems. If you’re an engineer who likes fun problems and wants a guaranteed interview, then decipher this xjedmhoyduflzplwoevherhftiy. Do you have what it takes?

About Rubikloud Technologies Inc.
Rubikloud (@Rubikloud) is a Toronto-based start-up with a passion for simplifying big data and adding true business value through its products. Gone are the days of using a different analytics system for each source of data. Rubikloud’s proprietary end-to-end platform will allow businesses to connect multiple sources of data in real-time and allow users from across the organization to immediately gain ROI from the data. Additional information can be found at http://www.rubikloud.com.

About Horizons Ventures
Based in Hong Kong, Horizons Ventures manages the Internet and technology investments of Mr. Li Ka-shing globally, including investments in companies such as Skype, Facebook, Spotify, Siri, Summly, and Waze.  To learn more, visit
http://www.horizonsventures.com.

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.

Photo courtesy of Shutterstock

Find new deal opportunities, super-charge your fundraising efforts and track top managers with VCJ. Get your FREE trial! Or subscribe now!