Neuralitic Systems raised $20 million in venture capital
MONTREAL— Canada’s export credit agency, Export Development Canada (EDC) is financing a Quebec company’s expansion in the global mobile and wireless market.
Neuralitic Systems develops mobile data intelligence solutions for mobile network operators. The company’s headquarters and R&D centre are in Montreal, but it also has operations in the US, Asia Pacific, Europe, Middle East and Africa.
EDC is providing Neuralitic Systems with a $3-million equity investment.
It’s part of a total $8 million in financing that the company has received from investors Vertex, BlackBerry Partners, Business Development Bank of Canada and Go Capital.
Audry Larocque, co-founder of Neuralitic Systems, says the funding will be used to speed the deployment of the company’s Seven Flow MDI platform with mobile operators around the world.
SevenFlow provides mobile operators with an analysis of network, application and data usage patterns. It also links information about subscribers, devices, and usage and present actionable metrics in an interface.
Neuralitic Systems was also recently selected by the Deloitte Technology Fast 50 awards program in the “companies-to-watch” category.
EDC’s Equity Program is geared to small- and mid-sized companies that want to go global and “next generation” exporters—technology companies that were born global by virtue of their product, but need to develop to grow.