Vancouver SaaS startup Produce8 has raised a $6 million funding round to accelerate growth of their workforce analytics application that helps remote and digital-first teams work better together.
Co-founded and backed by Chris Day — the co-founder of IT Glue, Fully Managed and ScalePad — along with Mark Scott, and Joel Abramson both from Fully Managed, Produce8 addresses a lack of visibility within remote and digital-first teams.
Fully Managed was acquired by TELUS earlier this year for $137 million.
“By analyzing the data from interactions with the apps we use, Produce8 can visualize and understand work patterns, providing constructive feedback on how to repair digital work. By minimizing the impact of collaboration distraction and work fragmentation, teams can reduce digital burnout and ultimately manage remote work better,” said Chris Day, Managing Partner at Top Down Ventures.
Produce8 received an initial pre-seed investment from Vancouver accelerator Top Down Ventures in 2020 followed by a seed funding round from a small group of tech investors.
By leveraging a remote-first distributed work model — led by an experienced team of co-founders — Produce8 has assembled a talented team of over 20 staff that drive its continued growth and development.
The company plans to launch into the IT Services market at the start of 2023 with expectations to expand across other industry verticals in quick succession.
“We’ll always stay true to our MSP roots, but our entire team—including our investors—are looking forward to sharing the innovation of this industry with the broader knowledge worker market,” said Joel Abramson, Co-Founder of Produce8, Partner at Top Down Ventures, and CSO at Fully Managed by Telus Business.
“We know the demand for what we’re doing goes beyond MSP businesses directly to their clients. We are also very confident that larger enterprises can benefit greatly.”
Earlier this year, Produce8 exhibited and presented on stage as a beta startup at the Collision tech conference in Toronto.
Leave a Reply