iloverewards.com Is Rewarded

5/12/09

Toronto-based iloverewards.com, which runs an online product catalog that offers corporate employees rewards as performance incentives, has closed a Series B venture funding round led by GrandBanks Capital of Newton Center, MA. There are conflicting reports about the amount of the round: a press release from iloverewards.com put it at $6.9 million, while a GrandBanks e-mail newsletter circulated this morning put it at $5.7 million. Existing investors JLA Ventures and Laurence Capital joined the round. Investing in Canadian technology startups is something of a specialty for GrandBanks—this is the firm’s fifth such investment and its sixth transaction in Canada overall.

Wade Roush is Chief Correspondent and Editor At Large at Xconomy. You can subscribe to his Google Group or e-mail him at wroush@xconomy.com. Follow @

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  • http://wellingtonfund.com Craig Netterfield

    Difference is the CAD/USD exchange rate.