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Canada-Based Companies Raise Funds

Posted: Oct. 16th, 2012  |  By Michael Pearse

Keek.com and Luxury Retreats, from Toronto and Montreal respectively, each raised millions of dollars to continue, promote and grow their businesses. If your business was backed by $5 million dollars, what would you do with the money?

In many ways two sizable funding rounds for Canadian startups announced this week could be a study in contrasts.

Montreal-based Luxury Retreats, which offers personalized high-end vacations through its online portal, picked up $5-million in backing in a round led by iNovia Capital and announced Monday.

Chief executive Joe Poulin founded the company in 1999 when he was 17 — with about $100 from his bedroom, he said — and has built it into a business with about 120 employees and a projected $100-million in revenue this year.

Read More on business.financialpost.com

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