Date closed: 4/6/2020
Value: US$50 million
On April 6, 2020, top Canadian venture capital firm Inovia Capital lead an oversubscribed US$50 million Series C round in WorkJam, the leading digital workplace solutions provider for organizations with frontline employees. The new investors also included Fonds de Solidarité FTQ and Claridge. All existing investors also participated in the round including Lerer Hippeau, Blumberg Capital, Harmony Partners and WorkJam's management team.
The latest funding round will allow WorkJam to continue to innovate, expand geographically, seek acquisitions, and invest in its employees — further solidifying its position in the market and advancing its mission to help businesses achieve breakthrough cost-savings and productivity increases while cultivating an engaged and motivated non-desk employee workforce.
BLG represented iNovia Capital Inc. and Fonds de solidarité FTQ with a team led by Patrice Martin that included Patricia Galella, Francis Lussier, Vinay Desai, Catherine C. Beauvais and Valérie Olivier (Corporate), Vanessa Lapointe (Labour & Employment), Max Jarvie (Privacy-Tech).