Freshly funded Drop Technologies acquires Canopy Labs
Drop Technologies has acquired Canopy Labs, a Toronto-based customer-focused predictive analytics software provider. No financial terms were disclosed. Derrick Fung, CEO of Drop, a Toronto-based mobile rewards program, said the acquisition of Canopy Labs' machine learning technology will help his company build "a best-in-class product for both consumers and our merchant partners." Earlier this year, Drop raised a US$21 million Series A financing led by New Enterprise Associates. Founded in 2012 by CEO Wojciech Gryc and CTO Jorge Escobedo, Canopy Labs secured financing from BDC Capital, Valar Ventures and other investors.
15 November 2018•4 mins read
