in Canada, Montreal, News, Quebec, Startups, Venture Capital

Beyond the Rack raises $12million

MontrealStartup is reporting that their portfolio company, Beyond the Rack, has secured a new round of financing with BDC Venture Capital and Highland Capital Partners.

I have been watching Beyond the Rack since Montreal Startup’s initial investment, but I had no idea they were getting so much traction. The company is just under two years old and is led by Yona Shtern, who was an employee at My Virtual Model, one of the bubble-era startups that swept through Montreal. More recently Yona was the Chief Marketing Officer at Ice.com.

The Montreal Startup team recently secured the first commitments for Founder Fuel, which will be a larger sister-fund to Montreal Startup. Their early stage investment in Beyond the Rack will hopefully make it easier to secure the remaining commitments for the new fund, and this puts the team squarely in the top-tier of early and seed stage investors in Canada along with Extreme Ventures and Scott Pelton at Growthworks.

This also represents one of the most significant follow-on rounds for a Canadian micro-fund. The fact that BDC Venture Capital was able to participate and keep some of that action in-country is nice.

  1. Holy crap!

    I love the work that Yona was doing with Pinny at Ice.com. This is a huge deal. Stokes, Cournoyer, Hill, MacLeod and the entire Montreal Startup/Founder Fuel team has been doing a lot of great ground work starting 2 years ago.

    This is great!

  2. Holy crap!nnI love the work that Yona was doing with Pinny at Ice.com. This is a huge deal. Stokes, Cournoyer, Hill, MacLeod and the entire Montreal Startup/Founder Fuel team has been doing a lot of great ground work starting 2 years ago. nnThis is great!

  3. Holy crap!

    I love the work that Yona was doing with Pinny at Ice.com. This is a huge deal. Stokes, Cournoyer, Hill, MacLeod and the entire Montreal Startup/Founder Fuel team has been doing a lot of great ground work starting 2 years ago.

    This is great!

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