Inscape Software Raises Series B

Inscape Software (f.k.a. HR Alloy), a Montreal-based provider of on-demand employee assessment solutions, has raised C$7 million in Series B funding. Solidarity Fund QFL led the round, and was joined by return backers Rho Canada Ventures, Rho Investment Partners Canada and Garage Technology Ventures Canada.

 

PRESS RELEASE

Inscape Software (formerly HR Alloy), a leading provider of on-demand integrated assessment solutions, announced today that it has previously this summer secured $7 million in series B funding led by Solidarity Fund QFL (the “Fund”), an important labor-sponsored investment fund dedicated to investing in the economic development of Quebec. Series A investors Rho Canada Ventures, L.P., Rho Investment Partners Canada, L.P. (“Rho“) and Garage Technology Ventures Canada L.P. (“Garage”) also participated. Fund's participation is now held by one of its wholly-owned specialized investment funds.  

Inscape Software will use the funding to continue the development of its innovative software-as-a-service (SaaS) platform that helps organizations author and deploy selection, employee development and succession assessment solutions. The company's clients include corporations, human capital management consulting firms, and leading psychometric test publishers.

“We're delighted to have the Fund, Rho, Garage and their network supporting us,” said Inscape Software CEO Fran