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Toronto-based Technology Company has generated two million logos and has gained 550,000 active users since launching in November 2016
TORONTO, June 2017 – Artificial Intelligence (AI) powered logo maker Logojoy just closed its first round of investor funding since launching in November 2016. The Toronto-based start-up, which has created a platform to make graphic design and logo creation effortless and accessible globally, raised close to $900,000 in its first round of funding. This first round of funding will accelerate Logojoy’s rapid growth – both of its user base and internal Logojoy team.
“This raise will allow us to sustain both our team’s and our user base’s explosive growth. While we’re profitable, it’s important for us to have some extra money in the bank to help fuel our expansion plans,” says Dawson Whitfield, Founder and CEO of Logojoy. “This money enables us to confidently grow as our revenues grow.”
The funding was provided by a collective group of investors including Corey Hawtin, Dominic Bortolussi (Founder of TWG.io), Mark MacLeod, Nitesh Banta (Founder of B12 Labs), Gautam Gupta (Founder of Naturebox), 500 Startups, Azim Lakhoo, and Alex Norman.
Since launching six months ago, Logojoy has been in the fast lane, generating two million logos for users to date, selling over 11,000 logos (sales from both basic and enterprise customers) and gaining 550,000 active users. The company’s team has grown to 15 members.
With this first round of funding completed, Logojoy is working towards a two-tiered growth strategy – an expansion of the company’s product services and offerings to users and additions to the company’s internal team. The product expansion will consist of brand identity and business card design services, while Whitfield hopes to nearly triple the Logojoy team from 15 to 40 members by the end of 2017.
From this financial boost, Logojoy will continue to grow and continue to do what they love to do for users all around the world – providing a platform that provides effortless design that is delightful, accessible, and affordable for everyone to use.
About Logojoy: Logojoy is an innovative online logo maker founded by Canadian graphic designer Dawson Whitfield. Logojoy is on a mission to bring great design to small businesses at a cost they can get excited about. By using artificial intelligence (AI) and other unique technologies, Logojoy is empowering everyone by partnering with them to bring their vision to life through their created logo. For more information, please visit logojoy.com
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