Vancouver-based technology company Jostle this morning announced that it has secured $3.1 million in equity investment from private investors to accelerate the market entry of its software.
Jostle – which uses a cloud-based platform to help companies create an employee culture and increase teamwork through the use of intranets and “enterprise social platforms” like Yammer and Jive – said the financing was raised from sources other than venture capital firms or banks.
“The success of this investment round was due to the targeting of qualified investors who understood risk,” said Espresso Capital managing partner Gary Yurkovich.
“Surprisingly, conventional ‘angel’ investors are also missing from this large financing round,” he added. “It foreshadows the growing importance of crowd-sourced funding – to create something truly innovative and directly target individuals that will resonate with the unique value it provides.”
The company said it has raised $4.6 million to date.
