Hockeystick acquires LaunchSpot.io to boost product offering for accelerators
Below is the Hockeystick press release from Wednesday November 29, 2017:
TORONTO, November 29th 2017 — Hockeystick, Canada’s leading private market data network, today announced that it has acquired Waterloo-based LaunchSpot, a software product used by accelerators and startup funders. The strategic acquisition of LaunchSpot will help accelerate the development of Hockeystick’s product offering for innovation organizations — accelerators, incubators and innovation hubs.
“With the acquisition of LaunchSpot, Hockeystick will now offer a suite of operations and data tools for innovation organizations,” said Raymond Luk, Hockeystick’s Founder and CEO. “LaunchSpot is a proven product with a similar customer base and we look forward to expanding its reach and scale through our network.”
LaunchSpot was created to simplify and automate how accelerators manage applicants, collect
portfolio data, connect companies with mentors and report to funders.
Hockeystick will continue to offer the product as a stand-alone service and will take over its
development and maintenance. The company will also be added to Hockeystick’s backend
“This acquisition is a great win for innovation organizations. I am confident that LaunchSpot will
thrive in its next phase with Hockeystick,” said Rob Darling, LaunchSpot’s Founder and CEO. “By
leveraging Hockeystick’s market leadership, expertise and partnership with the Lazaridis Institute,
LaunchSpot’s technology will be quickly utilized by more innovation organizations across Canada
and around the world.”
Thanks to Hockeystick’s partnership with the Lazaridis Institute, Canadian accelerators will now
have the option to use LaunchSpot free of charge.
“This acquisition by Hockeystick builds on the exciting partnership we announced in April of this
year — to create a national data platform for Canadian companies,” said Kim Morouney, Managing
Director of the Lazaridis Institute at Wilfrid Laurier University. “We’re pleased that the added
functionality announced today will further increase the value of the platform to accelerators and
incubators across the country.”
This is Hockeystick’s first acquisition and the company is expecting to partner with more products
in the future as it continues to expand its standardized data platform.
Hockeystick is a financial market data network that provides deep insight into private companies.
Hockeystick’s network connects a firm’s financial data directly to the venture capital, private
equity and innovation ecosystems. Fund managers and analysts use Hockeystick to accurately
track, compare and predict company performance. More than 12,000 private companies and top
Canadian funders belong to the Hockeystick network.
LaunchSpot is a software platform that automates and simplifies how startup ecosystems
connect companies with mentors, track their progress and report to funders. Top startup
ecosystems across Canada have adopted LaunchSpot’s flexible technology to change the way they
communicate with their companies, share ideas, manage growth and analyze key insights.
About the Lazaridis Institute
The Lazaridis Institute is focused on a specific national challenge — the need for more globally
competitive technology companies in Canada. The Institute helps Canadian technology companies
reach their next level of growth through world-class support in the Scale-Up Program, through
front-line training in the Tech Sales Apprenticeship initiative, and through a global network of
business and technology experts who provide mentorship, connections, and valuable experience.
Laura Curk, Marketing Manager, Hockeystick