MacLeod says the company is excited to launch another fundraising campaign to fuel its expansion. (File photo)

Rossland tech firm raises $4 million in financing

Thoughtexchange has raised $4 million in financing from Vancouver investment firm Yaletown Partners

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Rossland’s Thoughtexchange has raised $4 million in financing from Vancouver investment firm Yaletown Partners and existing angel investors.

Started in 2009 by Jim Firstbrook seeking to create “crowd-wisdom” software, Thoughtexchange has evolved into a two-way experience platform used by millions of people across many industries.

The product allows leaders to ask open-ended questions while AI ensures everyone’s responses are considered and rated by other participants.

Proprietary real-time analysis tools empower leaders to take action based on understanding common ground and key areas of disagreement.

“We are growing by more than 100 per cent 2020,” said CEO Dave MacLeod in a media release. “The two-way experience market is heating up and with our current funding, momentum and growing list of passionate advocates we are now excited to raise a significant Series B to fuel our expansion.”

“We are thrilled to invest in Thoughtexchange and look forward to supporting them as they continue to grow into a globally successful Canadian tech company,” said Salil Munjal, managing partner at Yaletown Partners.

Jayme Smithers joined the company as vice-president of revenue in 2018.

“We’re living in a connection economy where people decide where to work, what to buy and what organizations to support based on how connected they feel,” he said.

“I decided to join this Thoughtexchange rocketship as soon as I experienced the power of using it with my own sales organization in Netsuite. The new paradigm of leadership is to courageously connect people to one another, without bias, so everyone can learn what really matters. Surveys, focus groups and townhalls are failing to make that connection. That’s why we think we’re on to something really big here with Thoughtexchange.”

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