TitanFile, a secure file-sharing startup based at the Communitech Hub in Waterloo Region, has secured $1.1 million in investment to help take its new product to market.
The company, which has an office in Halifax, announced Thursday that it raised the round from early-stage venture firm Innovacorp and the First Angel Network Association, both based in Nova Scotia, along with other investors.
The funding announcement coincided with the kickoff of Communitech’s Techtoberfest event, an annual three-day gathering for startups in Waterloo Region, home to more than 450 early-stage companies and 1,000 technology firms.
TitanFile’s software enables users to group their contacts into real-time communication channels into which they can drag and drop files, creating a secure environment for document sharing and collaboration.
“We have seen magnificent traction within our pilot deployments,” said Milan Vrekic, co-founder and CEO of TitanFile, which counts Atlantic Canada’s two largest law firms among its growing list of clients. “We are very excited about releasing the product to the general public.”
Tony Abou-Assaleh, the company’s CTO and a former Googler, said TitanFile’s solution allows users to communicate with clients and colleagues “without worrying about privacy and security, while avoiding the complexity of traditional enterprise solutions.”
The funding announcement builds on recent momentum TitanFile has gained through a series of awards, including a spot on the Branham300’s Top 25 Canadian ICT Up and Comers; second place in the National Alpha Innovation competition; and a finalist’s position in the Manning Innovation Award.
Last year, TitanFile won a Canada-U.S. Innovation Award as well as a Cloudy Award in the category of People’s Choice: Best Cloud Newcomer, presented at SXSW in Austin, TX.
