Flybits secures $6.5M Series B led by Information Venture Partners

Flybits, Inc., a context-as-a-service company, has raised $6.5 million in Series B funding led by Information Venture Partners (IVP) with participation of new investor Portag3 Ventures LP and existing investors Robert Bosch Venture Capital and Trellis Capital.

Robert Antoniades and David Unsworth, co-dounders and General Partners at Information Venture Partners, will join Flybits’ board of directors.

Toronto based Flybits makes it easy for enterprises to harness the complexities of context so that they can become their customers’ lifestyle concierge – giving them what they need, when and where they need it.

Flybits has raised a total of $14 million in funding since launching in 2013.

“This funding will allow us to ramp up our sales efforts in the United States and Europe, reinforce our existing global presence and expand our product and engineering teams to strengthen Flybits’ unique machine learning capabilities,” said Dr. Hossein Rahnama, Founder and CEO of Flybits. “Our product focus now is simplifying how our customers leverage their data ecosystem and drive customer engagement.”

“We are excited by the prospects for Flybits,” said Antoniades. “Financial institutions, and other enterprises, today are sitting on troves of customer data siloed throughout their organizations. Flybits has identified a unique opportunity to give them the ability to make sense of these disparate sources of information and leverage machine intelligence to engage customers in an innovative and unique fashion.”

photo credit: Flybits

Ted Liu

Ted Liu, M.Sc. (Mining, Queen's), MBA (Finance, Toronto), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.