MLA48 leads ConferenceCloud pre-seed round in cooperation with UTEST
TORONTO, CANADA (January 11, 2016) — MLA48, Canada’s first angel investment fund committed to providing a 48-hour turnaround on investment decisions, has announced its third investment in ConferenceCloud, an innovative digital platform that provides a virtual solution for the next generation of hybrid conference events.
Founded in 2014 by siblings Olivia and John-Alan Simmons, Conference Cloud empowers conference organizers to take their content online and sell tickets to virtual attendees around the globe by aggregating interactive content, ticket sales, and virtual networking in one easy-to-use digital location. As a bonus for organizers seeking additional revenue streams through hybrid models, the platform also stores content for after-the-fact streaming. ConferenceCloud is a graduate of the 2015 University of Toronto Early Stage Technology (UTEST) program cohort.
“Olivia and John-Alan are a star co-founding team and we look forward to seeing ConferenceCloud become the next success story in the Toronto start-up ecosystem,” said MLA48 Managing Director, Brandon Corman. “One of MLA48’s goals is to collaborate with university accelerators such as UTEST and give talented young entrepreneurs the financing to really think big.”
“MLA is an exceptional group of distinguished individuals with a vast array of backgrounds to learn from. Our experience with MLA48 throughout the process was supportive, informative, and motivational,” said Olivia Simmons, co-founder and CEO of ConferenceCloud. “They worked hard to understand our business and provided invaluable advice. As an early-stage entrepreneur, you spend a lot of time waiting for decisions and responses. MLA48’s dedication to fast decisions puts them a cut above the rest.”
“Three months after launch, we see demand for ConferenceCloud’s solution taking off,” said Mike Betts, co-director of the UTEST incubator. “We anticipate this financing round will help make 2016 a year of immense growth for ConferenceCloud.”
Established in 2014, MLA48 Fund I Limited Partnership (MLA48) is a limited partnership designed to foster innovation in Ontario by accelerating funding timelines for Ontario’s brightest entrepreneurs while providing diversification for accredited investors. The limited partners are MLA members who want to invest collectively and the general partner is Maple Leaf Angels Capital Corporation, a subsidiary of Maple Leaf Angels
About Maple Leaf Angels
Established in 2007, Maple Leaf Angels (MLA) is a not-for-profit membership organization. Our mandate is to connect accredited investors and the brightest, most passionate entrepreneurs in a streamlined process within the larger entrepreneurial eco-system.
ConferenceCloud is a virtual platform for conference events, founded in 2014 by Olivia Simmons and John-Alan Simmons. Their technology empowers conference organizers to take their content online and sell tickets to virtual attendees around the globe.
The University of Toronto Early-Stage Technology (UTEST) program is a 12-month incubation and acceleration program co-managed by the University of Toronto and MaRS Innovation that allows selected U of T-affiliated early-stage start-up companies to incorporate, access office space, receive mentorship and access $30,000 in funding, with opportunities to access follow-on funding from MaRS Innovation. UTEST was named one of Canada’s most promising start-up accelerators in an online series by BetaKit, a digital publication that covers Canadian technology, and was recognized by BlogTO as one of the city’s Top 10 Accelerators.