ScribbleLive closes acquisition bridge financing

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By Ted Liu

Scribble Technologies Inc. (ScribbleLive) has closed a bridge round of financing, raising $4.6 million in convertible debentures, in connection with its recent acquisition of i-on interactive, inc., an interactive content platform provider with offices in Boca Raton, Florida and Cambridge, Massachusetts.

The acquisition was primarily funded with share issuance. The new bridge financing could be largely used to fund working capital of i-on interative and ScribbleLive.

8 unnamed investors (6 Ontario, 1 Quebec, and I USA) participated in the bridge financing.

ScribbleLive investors include OenText Enterprise Apps Fund (OTEAF), Georgian Partners, Rogers Venture Partners, Summerhill Venture Partners, EDC, Waterloo Innovation Fund (Winfund), Blue Cloud Ventures, Emerillon Capital.

Osler, Hoskin & Harcourt LLP acts as legal counsel to ScribbleLive.

ScribbleLive has previously raised over $55 million with its $35 million Series D closed in September 2015.