Ottawa-based DISTIL Interactive Ltd. has raised $1.5 million in its second round of venture investment, with more to come.
The maker of video game business training products said it has closed the initial portion of a Series-B venture investment round in the form of a convertible debenture from GrowthWorks Canadian Fund.
"We are very pleased to have GrowthWorks Canadian Fund lead the follow-on round, which will drive our commercialization efforts in the standards and certification, e-learning and knowledge management markets," said incoming CEO Robert Thompson in a statement.
Outgoing DISTIL chief executive Jonathan Adair will remain with the company as chief operating officer, a position that he already holds.
To date, the company has received $2.9 million in Series-A funding from both GrowthWorks Canadian Fund and GrowthWorks Commercialization Fund to support product development.
* To print this page, click on the "Printer Friendly Version" link above. When the new
window opens, right-click with your mouse in the new window and select "Print".
