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B.C. tech firm ThoughtExchange lands another $13M

Rossland, B.C., startup has raised $23 million since 2020
Thoughtexchange employs more than 100 workers in Rossland, B.C. | Submitted

A tech startup in Rossland, B.C. that specializes in crowdsourcing ideas has landed another $13 million in equity financing.

ThoughtExchange developed a platform that can crowdsource ideas from groups ranging from 10 to 100,000 people. The company’s clients have included major corporate players such as American Airlines Inc. (Nasdaq:AAL) and McDonald's Corp. (NYSE:MCD).

In 2020, the company landed $10 million in Series B financing. Today, the company announced it had raised another $13 million.

The latest equity raise was led by InBC Investment Corp. Other investors included Venture Partners, Yaletown Partners, Voyager Capital, HarbourVest and First Generation Capital.

“ThoughtExchange is innovating the way we engage as communities and building a company here in B.C. with global reach,” Leah Nguyen, InBC’s chief investment officer, said in a news release.

“Our investment into ThoughtExchange will create more tech jobs in the province and support a local company that is bringing voices together and helping some of the world’s leading organizations solve complex issues.”

-- With files from Tyler Orton

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