Blog

The Latest from Build Ventures

Affinio Makes the Pitch at Microsoft’s Seattle Demo Day

By: 6th June 2016 Portfolio No Comments

On Thursday, June 2, Affinio – one of our portfolio companies – presented at the Microsoft Accelerator’s Machine Learning Demo Day in Seattle, Washington. It was the culmination of a pretty exciting four months for the company. Back in February Affinio was selected to join the third Microsoft Seattle Accelerator, winning out against hundreds of companies applying from over 50 countries. In discussing this cohort’s special focus on cognitive technologies, Microsoft cited a Deloitte study that found over $1 Billion in venture capital has been invested in machine learning and data science in the last two years alone. During their time…

Read More

Predictive Forecasting Company Fiddlehead Technology Picks Up $1.8 Million In Seed Funding Led By Build Ventures

By: 28th April 2016 Press Release No Comments

Fiddlehead Technology, an innovator in predictive forecasting for the food and beverage industry, today announced it received $1.8 million in seed funding led by Build Ventures. The New Brunswick Innovation Foundation also invested in the company’s seed round. Fiddlehead’s flagship product, Forecast Guardian™, helps food and beverage companies improve forecasting performance. It provides recommendations on how to maintain more accurate forecasts with less effort. The cloud-based solution integrates with existing ERP or forecasting software, and can be set up in as little as two weeks. “Forecasting has often been more art than science. But with our prescriptive analytics we can…

Read More

False Assumption: The Reason Why It’s Not Always Cheaper To Launch a Startup in Atlantic Canada

By: 18th November 2015 Strategy No Comments

  One of our unquestioned assumptions when we closed the Build Ventures’ fund in 2013 was that launching a startup in Atlantic Canada was cheaper than doing it in other parts of Canada or the United States. Our location, at least in this respect, was thought to be a competitive advantage. There are certainly challenges to building a company here given the early stage of our ecosystem, but we thought we had the core ingredients: lots of smart entrepreneurial people and an environment which allowed those people to get more done with less.  The key cost driver at the early…

Read More

Affinio Sees $4 Million Series A Round

By: 3rd November 2015 Portfolio, Press Release No Comments

At Build Ventures we are excited to see the continued progress of Affinio, a marketplace intelligence company based in Halifax, Nova Scotia. Build Ventures was an early investor in Affinio and today we are part of the company’s Series A round. Here is the press release announcing the news: Innovative Content Tech Continues Hot Streak with $4m Investment in Affinio Deep-learning based social-affinity startup will focus on global growth and continued R&D HALIFAX, Nova Scotia, November 2, 2015 – Affinio, a fast-growing marketing intelligence platform, today announced a Series A investment of $4 Million, led by venture fund Whitecap Venture…

Read More

The State of #StartupEast: A Wave is Forming

By: 21st October 2015 Strategy No Comments

The September event calendar for our Atlantic Canadian Tech community was jammed packed as usual. A few weeks ago the new team at Propel ICT held their Demo Day in Moncton featuring 12 companies on stage from the 33 companies that went through the Launch and Build programs. A few days later Volta held their second Startup Empire conference in Halifax. Both events were electric. Demo Day showed that Gerry Pond’s vision of a truly Atlantic Canada-wide startup community is becoming a reality, with strong representation from throughout the region. Propel ICT delivers its program through Planet Hatch in Fredericton,…

Read More

Raising What You Need

By: 15th September 2015 Strategy No Comments

Most startups on the East Coast and around the world view raising capital as a top priority. And with good reason, you can only boot-strap your startup so far. Cash is almost always the fuel for growth. But it is important to be strategic in your efforts to raise capital. Too little capital, or even too much, can create serious problems that will reduce your odds of success. The startup community here on the East Coast is still in its early days. The same can be said for our approach to raising capital. (Disclaimer – this post is meant for startups…

Read More

Build Welcomes New Brunswick’s AirVM to Portfolio

By: 2nd September 2015 Portfolio No Comments

Rob and I are happy to welcome AirVM to the Build portfolio. We recently took part in the company’s $8 Million Series A round, which was led by RHO Canada Ventures, ourselves, as well as previous investor Wesley Clover. AirVM was founded in Saint John, New Brunswick by Josh Vautour and Jamie Pitt as an Infrastructure as a Service (IaaS) provider, hosting virtual machines for enterprise clients. Josh and Jamie became intimately aware of the pain points IaaS vendors had in running their businesses and transitioned to a product company with the launch of  AirSembly in 2013. Jamie heads up the R&D…

Read More

Understanding Traction In The Quest for Funding

By: 25th August 2015 Strategy 1 Comment

“We like what you’re doing, come back and see us when you have traction.” Every startup founder in search of seed, late seed or Series A funding has been on the receiving end of this statement from a venture investor. In fact, most have likely heard it more than once. It’s easy feedback for the potential investor to give because (they hope) it preserves the option to invest in future rounds. Yet it’s frustrating for founders who are left wondering what traction really means. The answers are typically vague. Sometimes an investor will suggest a few common benchmarks:  $100K MRR…

Read More

Get On A Plane

By: 15th July 2015 Strategy No Comments

Atlantic Canada is wonderful place to launch a startup. It has a supportive and collaborative startup community, great accelerators and strong universities. But it doesn’t have a lot of customers, partners, or investors when compared to other more mature ecosystems. You can start a successful business here, but you will never reach scale within the region. That’s just a simple fact. The reality is that you must get on a plane and travel to larger places if you want to build your business. Our little region has a population of less than 2.5 million people. Individually each province is about…

Read More

The Six Things We Look For When Investing

By: 2nd July 2015 Strategy 1 Comment

Finding capital is one of the biggest challenges facing startups, in Atlantic Canada or around the world. Most traditional lenders are leery of investing in unproven startups, and friends and family support will only take you so far. At Build Ventures, our focus is on identifying and investing in Atlantic Canadian startups with clear potential. Still, not every startup is right for every venture capital firm. Here are the six big things we look for when considering an investment: People First and foremost, we are looking for outstanding founders. We want to see people with unique technology or a novel…

Read More