OTEAF
100 Adelaide Street West, Suite 2900, Toronto, ON, M5H 1S3, Canada
Overview
First Ascent Ventures was founded in 2015 and invests in emerging Canadian technology companies that are building the next generation of disruptive, enterprise B2B software that leverages the cloud, big data, analytics, mobility, AI and machine learning. First Ascent Ventures is looking for outstanding, committed entrepreneurs and management teams who seek not just financial backing, but the experience and expertise of successful financial and operating executives who can create a catalyst for growth and ultimately a successful exit for all stake holders.
- Total investments
- 1
- Lead investments
- 0
- Investments · 12mo
- 0
- Active investors
- 0
Sector focus
- Artificial Intelligence (AI)
- B2B
- Enterprise Software
- Financial Services
- Machine Learning
- Venture Capital
Investment portfolio
- Rubikloud
Participated · Series B · Jan 2018
Rubikloud provides a cloud-native platform and two flagship applications that automate mass promotional planning and loyalty-driven marketing for multi-billion-dollar retailers. The platform automates OLAP data integration with legacy retail applications and data warehouses, enabling instant deployment of AI applications. Those AI applications deliver automated instructions to execution layers such as retailers’ ERP, supply chain systems, marketing automation tools, and in-store experiences. Rubikloud currently works with some of the world’s largest retailers. The company has raised $45M to date and will use the new funding to expand its offices into Europe and Asia. The company is led by CEO Kerry Liu and is headquartered in Toronto, Canada. Rubikloud provides a platform that consolidates, normalizes and analyzes messy retail data across multiple systems and pushes actionable insights directly to retailers. The company began by helping online retailers boost conversion during checkout but expanded to serve omnichannel and brick-and-mortar retailers after recognizing most sales occur offline. Early customers in the fashion, health and beauty verticals generate about $25 billion in sales annually, and Rubikloud aims to increase those sales by identifying and engaging high-value customers. Retailers connect their data stores to Rubikloud’s system so they do not need to build in-house data solutions or hire expensive consultants. To scale, Rubikloud plans to grow headcount from 13 to roughly 25–30 by year-end, increase its data science team and expand further in North America and China. The company has raised external funding to support this expansion, including a recent Series A. Rubikloud offers a unified big-data platform that connects directly to customers' backend infrastructure and siloed analytics systems to analyze origin and performance data and surface conversion and revenue insights. The product installs in about half an hour and includes custom connectors and a dashboard that enables real-time queries (for example, comparing browser performance by geography and resulting conversion rates). The company has been testing its platform in beta with about half a dozen clients and has grown its team from three to seven employees. Rubikloud was founded by Kerry Liu, Daniel Theirl, and Frank Thomas and is based in Toronto. Financially, the company has secured seed funding to support development and commercialization. It expects to publicly launch its product early next year.
Team
No current team members are available.