Ontopical, a Calgary-based company that provides a data and intelligence platform to help businesses discover and win government work, has raised $3.3 million in seed extension funding. The round was co-led by Rhino Ventures and Graphite Ventures, with participation from Accelerate Fund III and Alberta Innovates. To date, Ontopical has raised over $6 million in funding.
The company will use the funds to further develop its AI-driven intelligence platform, expand its business across North America, and triple its team over the next two years. The majority of roles will be based in Calgary. Ontopical's platform mines millions of unstructured and multi-format public sector data sources to identify and consolidate intelligence to help businesses efficiently apply for new contracts. The platform's customers include some of North America's largest telecom players, major architectural, engineering and construction firms, energy and utilities providers, health services, software, IoT and technology companies. More than half of its customers are in the U.S.
The company is led by Clayton Feick, CEO. Feick is a serial entrepreneur with over 20 years of experience in the technology industry. He is also the co-founder of several successful startups, including Innowave Solutions and Innowave Telecom. Ontopical is well-positioned to capitalize on the growing demand for government contracts. The company's platform is unique in that it provides businesses with a single source of truth for government data. This allows businesses to quickly and easily identify new opportunities and win more contracts.
