tealbook Selected as the First Recipient of Funding from the MaRS Investment Accelerator Fund and StandUp Ventures
"StandUp Ventures is pleased to invest in tealbook," said Michelle McBane, Investment Director of MaRS IAF and StandUp Ventures. "Stephany's deep understanding of the pain points that procurement professionals face, her leadership in sales and marketing, and her ability to recruit experienced team members are all early proof points that tealbook will be a successful high growth venture."
The MaRS IAF helps build and strengthen Ontario-based businesses in the cleantech, ICT, and life sciences & healthcare sectors. Funded by the Province of Ontario, the IAF program is managed by MaRS and delivered through the Ontario Network of Entrepreneurs. In partnering with StandUP Ventures, which is completely dedicated to companies with a female founder, MaRS IAF can help overcome the additional burdens that 'female' founders must overcome when seeking venture capital.
"We're thrilled to be StandUp Venture Fund's first investee," says Stephany Lapierre, Founder and CEO of tealbook. "This investment will allow tealbook to continue developing its AI/machine learning capacity and go-to-market strategy, giving us a crucial competitive advantage as we grow our market share. Aligning ourselves with MaRS IAF and StandUp Ventures will also help us in preparation for our upcoming Series A, which will be used for scaling tealbook."
This funding closed a larger round of seed funding for tealbook which included capital from Epstein and a group of angel investors.
For more information about MaRS IAF, visit http://www.marsiaf.com.
tealbook is the most trusted source of peer driven supplier intelligence and discovery for enterprise. By helping companies instantly access and share trusted supplier intelligence, tealbook significantly reduces the time and effort required for supplier discovery and exponentially increases the scale and productivity of procurement teams. tealbook also helps improve collaboration with internal partners. With tealbook, supplier connections and intelligence are centralized and combined with aggregate endorsements from industry peers and data from Dun & Bradstreet's common language taxonomy. Suppliers can easily self-update profiles with news, blog/web content and social media activity, providing companies with a valuable, first-hand perspective. For trusted intelligence, instant supplier identification, and elevated industry knowledge, tealbook is your solution. For more information, visit www.tealbook.com or Twitter: @tealbook.