Stradigi AI, a Montreal-based leader in Artificial Intelligence (AI), today announced that it has closed a $53 million Series A funding round that will accelerate penetration of the North American market and support continuous product innovation of their AI platform, Kepler. The Fonds de solidarité FTQ (the Fonds) and Investissement Québec (IQ) led the fundraising, collectively investing $26,4 million.
In addition to the Fonds and IQ, significant financing also originated from Holdun Family Office, Segovia Capital Ltd., Cossette Inc., Stradigi AI’s co-founders Basil Bouraropoulos and Curtis Gavura.
Building on the momentum from the successful launch of Kepler, and recently announced partnership with KPMG, capital will be leveraged to fuel expansion across North America, strengthening Stradigi AI’s go-to-market strategies, with a core focus on the United States. To support this expansion, Stradigi AI will bolster its existing team with 50 newly created positions in research, software, sales and marketing, to be filled largely in Quebec over the next year.
In addition, the company will accelerate the evolution of Kepler, a pioneering AI platform that combines rigorous software engineering with state-of-the-art algorithms, to continuously address the needs of business leaders by expanding its scope to serve business analysts and data scientists. This software augmentation will cement Stradigi AI’s position as the most multifaceted and comprehensive AI solutions provider on the market, effectively driving high-impact business value for leading enterprises.
“Investissement Québec and the Fonds de solidarité FTQ, in addition to all the other amazing investors that contributed to this financing, are great partners for Stradigi AI,” said Basil Bouraropoulos, CEO and Co-Founder of Stradigi AI. “As two of the most respected institutional funds in Canada with diverse portfolios and deep experience with preparing companies for international growth, IQ and the Fonds will bring tremendous value as we execute our strategy to become one of the top three leading platforms in North America.”
“Investissement Québec is proud to support Stradigi AI’s success and the development of their platform Kepler that can help businesses to cross the chasm from research to production of AI for some time.,” noted Guy LeBlanc, CEO, Investissement Québec. He added, “We are committed to investing in Quebec’s thriving AI ecosystem, which is why we feel it is so important to help home-grown success stories like Stradigi AI to expand both here and beyond our borders.”
“We are very pleased to support Stradigi AI as the Company continues to execute on its ambitious expansion strategy,” said Emil Savov, Vice-President for Investments, Venture Capital, at the Fonds de solidarité FTQ. “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. 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.”
“Our involvement in this crucial step in Stradigi AI’s development is a natural evolution of our partnership,” explained Louis Duchesne, President, Quebec and East, at Cossette. “We know that the Kepler AI platform meets a real need for businesses looking to further personalize their brand experience by increasing the relevance of their messaging. And, we are committed to supporting its North American launch.”
Canaccord Genuity acted as the financial advisor for the financing.