Vancouver’s Tribe Property Technologies is raising $18 million via a marketed offering with Round13 Growth Fund leading the financing with $10 million of their own funds.
Round13 Growth Fund is part of the Round13 Capital family of funds and invests in growth companies where there is an opportunity for technology enablement. Key to the fund’s mandate is helping bridge the late-stage growth funding gap in Canada between traditional venture capital and public market investors.
Tribe simplifies condominium complex and residential community living through the delivery of tech-enabled community management products and services.
“We are delighted to partner with Tribe’s exceptional management team and help realize on Tribe’s vision to digitize the property management industry,” said Sanjiv Samant, Managing Partner of Round13 Capital.
“We are excited to support the acceleration of Tribe’s robust product roadmap of property management technology tools as well as the Company’s plan to bring its products to new markets via M&A.”
Tribe began trading on the TSX Venture Exchange last year.
“We are pleased to be adding Round13 as a strategic shareholder. To receive the support of one of Canada’s leading value-added growth funds provides clear validation of our business model. After a very successful 2021, Tribe delivered on significant growth objectives, completing and integrating four acquisitions, creating a national footprint, all while achieving substantive revenue growth,” said Joseph Nakhla, CEO of Tribe.
“This financing allows Tribe to pursue further M&A opportunities and continue to build on its national footprint, all while advancing the deployment of our new products and services to the growing condo and rental markets.”
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