Chaordix Secures Series A Financing

Chaordix has secured Series A financing, led by Yaletown Venture Partners and with participation by the Business Development Bank of Canada. Headquartered in Calgary, Canada, Chaordix crowdsourcing programs help global organizations gain market research, brand loyalty and innovation.

PRESS RELEASE

Chaordix(R) Inc., the global standard in crowdsourced market intelligence, today announced it has secured Series A venture capital financing, led by Yaletown Venture Partners and with participation by the Business Development Bank of Canada (BDC).

Headquartered in Calgary, Canada, the new funding will permit Chaordix to expand its global business and market development, further invest in its next generation Crowd Intelligence(TM) products, and strengthen its expert services capacity to support a growing roster of clients representing some of the world’s most innovative brands and organizations.

“This funding recognizes our consistent track record, the strength and dedication of our team, as well as the growth opportunity of our unique crowdsourcing-driven business model,” said Chaordix Founder & CEO Shelley Kuipers. “With this financing, we’re well positioned to extend the reach of our managed services offering beyond our existing client base in Europe, North America, and Southeast Asia.”

“We believe Chaordix is in a strong position to capitalize on the rapidly growing social enterprise software sector, using social networking and analytics technology to address the market intelligence needs of enterprise users,” said Brad Johns, Partner with Yaletown Venture Partners. “The Chaordix technology has enabled their Fortune 500 customers to gain business insight, drive product innovation, and build brand loyalty.”

“Chaordix’s impressive management team has extensive experience in enterprise software and services, as well as innovative market research processes,” said Brenda Slauko, Manager, Subordinate Financing at BDC. “Partnering with Yaletown Venture Partners allows us to support the enhancement of Chaordix Crowd Intelligence(TM) products and positions the company for future growth.”

About Chaordix

Chaordix(R) is the global standard in crowdsourced market intelligence. Chaordix uses the power of crowdsourcing to help the world’s leading companies and organizations gain actionable insight and competitive advantage. Our Crowd Intelligence(TM) community solutions are helping clients such as P&G, IBM, FutureBrand, and American Airlines leverage our unique crowdsourcing techniques and technology to drive market research, brand loyalty and innovation. Visit www.chaordix.com to find out more.

About Yaletown Venture Partners

Yaletown Venture Partners is headquartered in Vancouver, Canada with offices in Calgary and Seattle. Yaletown is backed by leading institutional investors and by a network of successful technology entrepreneurs, executives, and angel investors. Yaletown leverages an extensive on-the-ground network to seek out the most promising early stage Cleantech and IT companies. Founded in 2002, Yaletown is led by a team that brings together an extensive network of industry relationships and more than 120 years collective experience building and financing technology companies.

About BDC

Canada’s business development bank, BDC, puts entrepreneurs first. With almost 1,900 employees and more than 100 business centres across the country, BDC offers financing, subordinate financing, venture capital and consulting services to 29,000 small and medium-sized companies. Their success is vital to Canada’s economic prosperity.

Contacts:
Chaordix Inc.
Sharon McIntyre
CMO
+1 (403) 819-4393
press@chaordix.com

Yaletown Venture Partners
Tracey Morrison
Media Relations
+1 (604) 862-6098
info@yaletown.com

BDC
Maria Constantinescu
Public Relations
+1 (514) 496-7146
maria.constantinescu@bdc.ca

SOURCE: Chaordix Inc.