Thentia, a Toronto, Ontario-based govtech platform built for regulators, by regulators, has closed a $38 million Series B extension.
SaaS Investors
The round was led by existing investors, including First Ascent Ventures, Spring Mountain Capital, BDC Capital, and Espresso Capital.
Founded in 2015 by Richard Black and Tony van Marken, First Ascent Ventures invests in early-stage, emerging, and growth-oriented enterprise software companies in the information technology sector.
Spring Mountain Capital is a New York-based investment management firm with $1.7 billion of assets under management that focuses on alternative asset investing. SMC invests in two sectors of the U.S. economy undergoing the most change and with the highest growth potential: enterprise technology and healthcare companies.
BDC Capital is the investment arm of BDC, Canada's bank for entrepreneurs. With over $6 billion under management, BDC Capital serves as a strategic partner to the country's most innovative firms. It offers businesses a full spectrum of capital, from seed investments to growth equity.
Espresso Capital has been empowering fast-growing technology companies with innovative venture debt solutions since 2009. Espresso is headquartered in Toronto, with offices in San Francisco, Chicago, and London.
Thentia Use of Funds
The company will use the funds to scale operations, drive accelerated growth, invest in artificial intelligence, and enhance
About Thentia
Thentia is a provider of regulatory, compliance, and governance database services intended to deliver a long-term and systematic approach to regulation and governance. Thentia's platform, Thentia Cloud, is an end-to-end SaaS ERP platform designed for regulators, that handles all key department functions including licensing, investigations, enforcement, fitness to practice, quality assurance, the scope of practice, continuing education, board management, data analysis, and more. It digitizes, streamlines, and consolidates regulatory functions in a secure cloud-based environment, providing a comprehensive view of licensee activities.
Funding Details
Company: Thentia Corporation
Raised: $38.0M
Round: Series B Extension
Funding Month: January 2024
Lead Investors: First Ascent Ventures, Spring Mountain Capital, BDC Capital, and Espresso Capital
Additional Investors:
Company Website: https://thentia.com/
Software Category: GovTech Solutions
Source: https://www.prnewswire.com/news-releases/thentia-secures-38m-to-drive-global-expansion-innovation-in-regulatory-technology-and-artificial-intelligence-302045787.html