PerformanceTech startup Impro closes $2.25M seed round
The startup will use the funds for marketing and R&D.
PerformanceTech startup Impro announced that it’s raised CAD $2.25 million in seed funding. The round was co-led by Panache Ventures, Good New Ventures, and EEI.
The product: Impro's app helps executives and employees with integrated coaching and mentoring. People use the app daily for five minutes, and then executives can optimize their company’s overall performance by leveraging the organization-wide insights provided by the Impro platform.
The plan: Impro says it will invest the new capital into research and development across its platform, AI and methodology development, as well as expand its footprint of corporate clients that already extends across North America and Europe.
The extras: In addition to the actual funding raised, Impro is set to benefit from the advice of a network of angel investors that participated in the round, including Dr. Sheldon Elman, chairman at Esplanade Ventures; Stuart M. Elman, managing partner at Persistence Capital Partners; Blayke Hale, managing partner at BC Growth Equity; Irfhan Rawji, managing partner at Relay Ventures; Ryan Benn, CEO at Alive Publishing Group; and François-Pierre Chevalier, past co-president at Bio-K+ International.
There were additional B.C.-based investors and advisors that contributed, including RecapHealth Ventures’ Rich Osborn; Victoria’s Rasool Rayani, a venture partner at Inovia Capital; and Klue CEO Jason Smith.
The progress: Impro was officially launched in January of 2020. Earlier this year when Vancouver Tech Journal spoke to Impro founder Josh Blair, the startup had already brought in USD $500,000 with clients like property management firm Mynd and Adobe. At the time, Blair said he was on the hunt for funding, and now, despite a choppy global economic climate, his plan has come to fruition.
“The successful and full closing of our seed round, in a challenging fundraising environment, is a testament to the commercial traction that our Impro team has achieved to date as well as our compelling vision for the future,” Blair said in a statement.