JOLT portfolio surpasses $10M in financing

TORONTO, Nov. 17, 2014 – JOLT, a leading Canadian technology accelerator, announced today its latest capital metrics. Since its launch in 2012, the JOLT Fund has invested in 23 companies, including the six ventures in its current cohort. These companies have raised a total of $10.5 million with nearly half of the 17 JOLT graduates attracting outside funding and securing an average of $1.1 million in seed capital per company.

Angel investors have contributed the bulk—63%—of the more than $10 million of capital, followed by early-stage VC funds such as the Youth Investment Accelerator Fund, which have contributed 16% of the total. JOLT companies that have earned notable success through these capital sources include Taplytics, Turnstyle, PUSH, Nudge Rewards and Singspiel. The remaining capital raised has come from grant and loan programs.

“The numbers reflect the funding landscape in Canada with more angels filling the gaps at the seed stage,” said Kerri Golden, General Partner, JOLT Fund. “While follow-on funding is a key short-term metric, the other business-building milestones achieved by these companies are consistent with results seen in other North American accelerators in the Global Accelerator Network. We look forward to continued success from our JOLT founders as they scale their businesses and look towards their Series A rounds.”

To date, the JOLT Fund has invested a total of $910,000 across its portfolio with a leverage of just over 10X its investment. Seventeen of the 23 companies remain active, with one acquisition and five that are inactive.

“The upward momentum of our portfolio companies is a testament to the hard work, drive and focus of the phenomenal founders we’ve backed,” said Sue McGill, Executive Director, JOLT. “It typically takes five years to build a successful company, and that timeline is getting longer. Even though our startups are still in the early stages of their growth we continue to be impressed by their progress.”

Further breakdown of the metrics can be found here: How JOLT Startups Are Accelerating

About MaRS
MaRS Discovery District (@MaRSDD) in Toronto is one of the world’s largest urban innovation hubs. MaRS cultivates high-impact ventures and equips innovators to drive economic and societal prosperity. MaRS provides expert advice and market research, and makes connections to talent, customers and capital. MaRS startup clients have created 6,500 jobs and, in the last three years alone, they have raised $1 billion in capital and generated $500 million in revenue.

About JOLT
JOLT (@JoltCo) is a Toronto-based micro seed fund and technology accelerator dedicated to building high-growth Canadian companies. JOLT offers these selected companies working space at MaRS Discovery District, 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.

For more information, please contact:
Lara Torvi
Manager, Media & Community
MaRS Discovery District