Maxa, a Montreal, Canada-based Snowflake Native App for business systems and ERP insights automation, secured CAD 28.7 million ($21M) in Series A funding.
Investors
The round was co-led by Framework Venture Partners and BDC Capital’s Industrial Innovation Venture Fund, with participation from existing investors AQC Capital and Graphite Ventures, as well as new investors Snowflake Ventures, Amiral Ventures, and NAventures.
Established in 2018, Framework is a world-class venture capital partnership that backs purpose-driven startups. Framework’s dynamic approach to investment empowers exceptional founders and their teams on the path to becoming the next generation of world-class technologies. Headquartered in Toronto, Canada, with a presence in Montreal, QC, and Austin, Texas.
BDC Capital is the investment arm of BDC, Canada’s business development bank. BDC Capital offers business capital, from seed investments to growth equity, as well as ownership transition solutions, supporting Canadian entrepreneurs who have the ambition to stand out on the world stage. The company was founded in 2006 and is based in Montreal, Quebec.
Maxa Use of Funds
The company will use the funding to fuel its product, go-to-market, and customer self-serve capabilities.
About Maxa
Founded in 2019 by Alexis Steinman and Raphael Steinman, Maxa specializes in providing a data automation and analytics platform tailored for enterprise resource planning (ERP) systems. By unifying multiple ERP and business data systems into a single, accurate, and pre-computed source of insights, Maxa ensures that both human and AI-driven business conversations are enriched with timely and accurate data insights with full auditability.
Funding Details
Company: Maxa AI Inc.
Raised: $21.0M
Round: Series A
Funding Month: May 2024
Lead Investors: Framework Venture Partners, BDC Capital
Additional Investors: AQC Capital, Graphite Ventures, Snowflake Ventures, Amiral Ventures, NAventures
Company Website: https://www.maxa.ai/
Software Category: Financial and ERP Insights
Source: https://www.maxa.ai/series-a/