BLUERUSH closed a non-brokered private placement this week, raising $1.3 million in capital. Participating in the funding were Round 13 Capital Founders Fund, which was responsible for $750,000 of the financing, and newly appointed director Steve Taylor, who subscribed for $250,000.
“This financing will allow us to ramp up our sales and R&D efforts as we continue on our path toward a recurring revenue model,” BLUERUSH President and CEO Larry Lubin said. “The investors in the private placement are highly strategic and bring decades of experience in high growth technology companies. They will be a valuable asset to us going forward.”
BLUERUSH President and CEO Larry Lubin demonstrating INDIVIDEO at FinovateFall 2017.
In a blog post at the BLUERUSH website, the company noted that the funding will also boost its digital platform strategy, providing momentum for the company’s sales enablement platform DIGITALREACH and its personalized video/rich media content platform, INDIVIDEO. Rielle Ullberg, Digital Marketing and Sales Coordinator for BLUERUSH wrote, “the demand for personalized digital experiences continues to increase; specifically within the realm of financial services.” Ullberg noted that the company’s client list includes “some of the biggest and most progressive banks, brokers, and insurance companies in North America.”
Founded in 2003 and headquartered in Toronto, Ontario, Canada, BLUERUSH demonstrated its “advice engine” INDIVIDEO at FinovateFall 2017. The company, which also has offices in Montreal, Quebec and in Herndon, Virginia, leverages AI and big data visualization to create more engaging customer experiences for clients in financial services, healthcare, and media. From strategy development and lead generation to video marketing and interactive tools and training, BLUERUSH helps brands develop customized strategies to grow their businesses.
In financial services, BLUERUSH’s technology simplifies information and enables professionals to communicate it in a more compelling way. This makes it easier for consumers to make better decisions and helps advisors build trust with their clients. “It’s not just business,” Lubin said from the Finovate stage in September, emphasizing the importance of “advice” in the self-serve oriented, fintech experience. “It’s personal. And financial matters are really personal.”
BLUERUSH trades on the TSVX under the ticker symbol “BTV,” and has a market capitalization of $5 million (6 million CAD).