Canada's Stradigi AI closes $40.3m in Series A funding round

Canada’s Stradigi AI closes $40.3m in Series A funding round

Written by Ruby Hinchliffe
14th November 2019

Canadian artificial intelligence platform Stradigi AI has closed CAD 53 million ($40.3 million) in Series A funding in a bid to expand further into the North American market and develop its AI platform called ‘Kepler’.

Stradigi AI’s chief scientific officer (CSO) Carolina Bessega

The 2005-founded company with a 123-person team according to its LinkedIn page says “until now, no single partner has offered a multidimensional approach to meet your unique AI needs”.

It explains its platform as “a software-meets-service (Saas) model” which provides guidance in tandem with customisable AI solutions to drive companies’ revenues.

The investment round was led by Investissement Québec (IQ), a firm which helps boost Québec’s economic development, and the Fonds de solidarité FTQ (the Fonds), a small and medium-sized business (SMB) investor also in the Québec region.

Together these two leading investors contributed CAD 26.4 million – nearly half of the overall funding total.

Other participating investors include Holdun Family Office, Segovia Capital, Canadian marketing company Cossette, and Stradigi AI’s co-founders: Basil Bouraropoulos and Curtis Gavura.

With the announcement of its recent partnership with KPMG, the company is confident this new momentum will also allow it to create 50 new jobs largely in Québec.

Targeting predominantly business analysts and data scientists, the Kepler platform is described as “the most multifaceted and comprehensive AI solutions provider on the market” by its creator.

“Having spent the last few years building its leading platform, Kepler, Stradigi AI is very well-positioned to develop its North American foothold to meet growing customer demand,” says VP for investments at the Fonds, Emil Savov.

“To ensure the future of the AI sector in Québec, this expertise must be further aligned with commercial and strategic goals, which is one of the reasons the Fonds is investing in Stradigi AI.”