With its annual recurring revenue hitting $8 million, Halifax-based Proposify has closed a substantial funding round led by Toronto-based Canadian Business Growth Fund, or CBGF.
The parties declined to reveal the size of the round, though CBGF says it normally makes investments of between $3 million and $20 million. It was the first Atlantic Canadian investment by CBGF, a young $545 million fund backed by the largest Canadian banks and insurers.
Innovacorp, the Nova Scotia early-stage venture capital fund, also participated in the round as a returning investor. CBGF Senior Investor Dale