Looks like the word is out, and it's my pleasure to officially announce that Wave has raised $5 million in series A financing, led by Charles River Ventures (CRV), with the participation of OMERS Ventures.
Here in the office, we're all pretty ecstatic about what this means for Wave (and in extension for your small business). In the immediate future, this funding will be used to help support an even faster rate of ongoing application development and improvement. It also means the launch of a highly anticipated and very exciting new complementary application later this year (stay tuned to find out the specifics, this app is worth the wait).
CRV and OMERS will provide more than just capital, they'll provide valuable expertise and insights as Wave continues to grow. Charles River Ventures is dedicated to helping exceptional entrepreneurs turn their ideas into category leaders in high-growth technology and media ventures, and for the past ten years their funds have been ranked among the industries top performers. OMERS Ventures is the new $180 million venture capital arm of the Ontario Municipal Employees Retirement System (OMERS) pension fund, and it focuses on early-stage companies with the intention of remaining on with successful companies as a life-cycle investor.
Speaking of growth, we're already moving quickly down that path, with almost 75,000 small business signups in over 198 countries, all in under one year (by the way, I'd like to extend a warm welcome to our newest country, Greenland). Now, with the strength of CRV and OMERS Ventures behind us, we're more confident than ever that Wave's constant growth, development, and innovation won't be slowing down any time soon.
For full details, download the press release.