{"id":11521,"date":"2019-10-09T19:07:41","date_gmt":"2019-10-09T19:07:41","guid":{"rendered":"https:\/\/swallowimmigration.ca\/en\/?p=11521"},"modified":"2021-10-06T09:49:33","modified_gmt":"2021-10-06T09:49:33","slug":"new-brunswick-startups","status":"publish","type":"post","link":"https:\/\/swallowimmigration.ca\/en\/new-brunswick-startups\/","title":{"rendered":"New Brunswick Startups"},"content":{"rendered":"\n

New Brunswick Startups Have Most\nSuccessful Year Since 2011<\/p>\n\n\n\n

Sep 30, 2019<\/p>\n\n\n\n

by Cherise Letson<\/a><\/p>\n\n\n\n

Startups in Atlantic Canada attracted a record $166.6 million in private capital in 2018, while increasing their revenues strongly and adding about 1,000 employees, according to a new report from Entrevestor, a publication that provides news and data on East Coast startups<\/a>.<\/strong><\/h4>\n\n\n\n

In New Brunswick, the report found the province\u2019s startup community had its most successful year since 2011 when Radian6 and Q1 Labs announced they were exiting with a reported value of more than $1 billion. The report found that in 2018, $84.7 million funds were raised by startups in the province. Startups employed 1,479.5 people, which was up by 21 percent from the year prior. New Brunswick startups also saw revenue growth of 154 percent in 2019.<\/p>\n\n\n\n

\u201cI think what was significant about Sonrai is\nit ticked so many boxes for New Brunswick. It was return entrepreneurs, so guys\nwho have already had a massive exit coming back to get \u2018the band back together\u2019\nif you will,\u201d said Moreira. \u201cThat\u2019s easy to overlook but it\u2019s really important\nto get entrepreneurs, once they have success, coming back in and starting new\nbusinesses because they\u2019ve been there and they know what they\u2019re doing.\u201d<\/p>\n\n\n\n

Another reason the funding round was\nsignificant is that it brought in investors from outside the region as well.<\/p>\n\n\n\n

In other notable funding rounds, relationship software company Introhive had raised $15.2 million in equity and debt, and tech company Resson booked a $14 million round, led by the world\u2019s leading tractor maker, Mahindra & Mahindra of India.<\/p>\n\n\n\n

There were also a few notable exits in New\nBrunswick in 2018. Saint John-based EhEye, which developed video recognition\nsoftware for public security, was purchased by Patriot One Technologies of\nToronto for more than $3.2 million in stock in November.<\/p>\n\n\n\n

Meanwhile, Fredericton-based Envio, whose technology assists in the understanding of fluid dynamics, quietly exited, being taken over by San Francisco electronic cigarette company Juul. The buyer, which has 800 employees and US$1.1 billion of annual revenue, planned to maintain and grow the Fredericton R&D team.<\/p>\n\n\n\n

For more information follow the link below: <\/p>\n\n\n\n

https:\/\/huddle.today\/new-brunswick-startups-have-most-successful-year-since-2011<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

In New Brunswick, the report found the province\u2019s startup community had its most successful year since 2011 when Radian6 and Q1 Labs announced they were exiting with a reported value of more than $1 billion. The report found that in 2018, $84.7 million funds were raised by startups in the province. Startups employed 1,479.5 people, which was up by 21 percent from the year prior. New Brunswick startups also saw revenue growth of 154 percent in 2019.<\/p>\n","protected":false},"author":1,"featured_media":11830,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[84,87,80],"tags":[175,174,151],"class_list":["post-11521","post","type-post","status-publish","format-standard","hentry","category-canada","category-new-brunswick","category-news","tag-investors","tag-startups","tag-technology"],"yoast_head":"\nSwallow Immigration Consultancy Inc | New Brunswick Startups<\/title>\n<meta name=\"description\" content=\"Startups in Atlantic Canada attracted a record $166.6 million in private capital in 2018, while increasing their revenues strongly\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/swallowimmigration.ca\/en\/new-brunswick-startups\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Brunswick Startups Swallow Immigration Consultancy Inc Canada |\" \/>\n<meta property=\"og:description\" content=\"In New Brunswick, the report found the province\u2019s startup community had its most successful year since 2011 when Radian6 and Q1 Labs announced they were exiting with a reported value of more than $1 billion. 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