Shift closes a $1M seed round and positions itself for accelerated growth.
Today, we’re thrilled to announce that Shift, a company from the Redbrick portfolio, has officially closed a $1M seed round. The round was led by Calgary-based, seed-stage venture capital fund, Panache Ventures and brought together a small group of key advisors who collectively committed $500,000. The remaining $500,000 was committed, through debt financing, by Redbrick. The newly secured funding paves the way for future growth for the scaleup and sets the stage for an exciting new chapter.
“This investment round is a winning endorsement of everything we’ve achieved—and kicks off an even more exciting road ahead as we capitalize on our incredible momentum. With 10x revenue growth in 2018, an additional 4x growth so far in 2019, not to mention doubling our team size, the last 18 months have been very rewarding. We have huge goals for Shift, and we’re having a ton of fun along the way,” said Nadia Tatlow, newly appointed CEO of Shift.
With the agreement signed, sealed, and delivered, Shift will be joining a portfolio of some of the most innovative seed-stage companies on the market. Backed by a team of expert advisors and supported by the new capital injection, Shift will be building on its feature set, expanding the team, and gearing up for more growth next year.
“From its humble beginnings as a passion project to an incorporated, venture-backed company, we’re thrilled to be a part of everything Shift has accomplished so far,” said Tobyn Sowden, CEO of Redbrick. “We feel privileged to have supported Shift on its growth journey, and are pleased to cement our confidence in the company with our most recent investment. I have no doubt that great things are in-store for Shift.”
We’re excited to watch as Shift continues to delight customers far and wide with the workstation that reimagines how we work, saving endless time and bringing focus to our workflow.