ontario-ai-developer-201804
Project Description:
Amount Funded: $100,000
Amount Funded: $100K - $250K
Industry: AI Development
Province: Ontario
Type of Facility: SR&ED Financing
Days to Fund: 19
Use of Funds: When this company found the right product-market fit, the demand for its solution skyrocketed. There was a need to open a new office in Toronto, ramp up R&D and hire business development people. After bootstrapping for a few more months, its revenue significantly increased to the point that the company hit its break-even level. This new financial reality gave its CEO the comfort that the business could raise additional equity or continue to bootstrap without needing to raise equity.
Company Background: This company provides insights that help businesses and governments better understand their audiences – a perfect blend of AI + survey work.
