ThoughtExchange Lands $13.5M Equity Investment

VANCOUVER, British Columbia, Nov. 30, 2023 (GLOBE NEWSWIRE) -- ThoughtExchange, a leading AI engagement and survey platform, announced today that it has secured $13.5M equity financing from InBC Investment Corp. along with existing investors Information Venture Partners, Yaletown Partners, Voyager Capital, HarbourVest and First Generation Capital.

"InBC has an exciting and important mandate and we're very happy to have them as investors in ThoughtExchange," said Dave MacLeod, ThoughtExchange's CEO. "It's great to have strategic investors who understand inclusion and business success are not in opposition and are instead directly correlated. The world's top performing organizations value the voice of the communities they serve."

InBC's investments work in parallel with the province's Stronger BC Economic Plan to accomplish inclusive and clean growth over the long term. They identified ThoughtExchange as meeting their impact objectives to innovate for the future and elevate inclusive communities, as well as the potential for financial returns and benefits to the province.

"ThoughtExchange is innovating the way we engage as communities and building a company here in B.C. with global reach," said Leah Nguyen, Chief Investment Officer of InBC. "Our investment into ThoughExchange will create more tech jobs in the province and support a local company that is bringing voices together and helping some of the world's leading organizations solve complex issues."

ThoughtExchange stands out as an innovator in engagement technology and problem-solving, gaining significant investment in a tough market. Combining deep AI capabilities with proprietary qualitative survey methods, ThoughtExchange bridges the gap between quantitative sentiment and actionable solutions.

Whether engaging 10 or 10,000 people, modern leaders use the award-winning AI-powered SaaS platform to quickly gain critical insights and improve decision-making. Respondents feel comfortable answering questions candidly and deeply, so leaders have timely access to accurate, nuanced data?while they enable employees to feel heard and valued, communities to listen to diverse perspectives, and leaders to build people's voices into their decision-making.

Over the past five years, ThoughtExchange's revenue has surged by 585%, with its customer base more than tripling as organizations prioritize enhancing their decision-making process and encouraging inclusive problem-solving.

About ThoughtExchange

ThoughtExchange is the leading AI-accelerated engagement and survey platform. By combining deep AI capabilities with proprietary qualitative survey methods, our award-winning SaaS platform bridges the gap between quantitative sentiment and actionable solutions. Today, ThoughtExchange's customers span school districts representing thousands of educational leaders and nearly 40 million students across North America, as well as large public and corporate organizations.

Company website: https://thoughtexchange.com/

About InBC

InBC Investment Corp. is a strategic investment fund created by the Province of British Columbia with $500 million to invest in growing companies and venture funds to benefit British Columbia. It has a triple bottom line mandate to invest for financial profit as well as social and environmental impacts. Learn more at www.inbcinvestment.ca

Contact

Alex Chapple
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f4644cb6-9b1d-493d-8b79-37da6bfb3cda