The federal government has made a repayable contribution of up to $440,000 to Barrie, Ontario web presence analytics platform developer gShift Labs Inc., whose software helps businesses create, publish, track and report on digital content.
With this FedDev Ontario support, gShift is also able to leverage up to $1.2 million from existing investors, including GrowthWorks Capital, Brightspark Ventures and the company’s co-founders.
FedDev Ontario is disbursing the funds through the Investing in Business Innovation initiative.
“With this financial support from FedDev Ontario, gShift is able to continue to engineer its world-class digital marketing platform and further execute on its go-to marketing strategy,” said gShift co-founder & CEO Krista LaRiviere. “The Barrie-based team will expand to include developers, sales and marketing specialists and customer service representatives to meet customer demand around the globe.”
Founded in 2009, gShift’s Web Presence Analytics platform now provides intelligence for over 10,000 brands in 22 countries.
Aside from maintaining 19 current jobs, gShift expects to hire 21 new employees.
“The digital media industry is defined by innovation and creativity,” said Minister of Innovation, Science and Economic Development and Minister responsible for the Federal Economic Development Agency for Southern Ontario Navdeep Bains. “Companies like gShift are rethinking how we use technology to manage and improve our lives and our businesses. Through support from FedDev Ontario, the Government of Canada is helping to support small- and medium-sized businesses increase sales, expand into global markets, and fulfill their potential.”
gShift previously received $500,000 from FedDev Ontario’s Investing in Business Innovation fund in 2011, to help the company develop its Web Presence Optimizer.
gShift has also been selected to participate in the Canadian Technology Accelerator (CTA) program, run through the Canadian Consulate General in New York City starting on March 1.