Ottawa, Ontario, May 16, 2017 – L-SPARK, the destination for enterprise software (SaaS) and cloud startups, opened applications today for their fourth SaaS scaling Accelerator program. The L-SPARK Accelerator propels market ready SaaS companies to build customer traction and revenue. Their collective goal is to scale Canada’s best in SaaS to 10 x revenue growth.
Over the last three years, L-SPARK has developed a strong network of established relationships with key venture capital firms, angel investors, and the investment community at large. With a network of 10,000 SaaS founders, investors, mentors and partners and a portfolio of 29 SaaS companies, L-SPARK has worked with startups to grow revenues, some of whom have grown from $7k MRR to $100k MRR and raise millions of dollars in investment while in the program.
“With our funding, we closed our $4M round, oversubscribed and it has teed us up to maximize our potential. I am both more relaxed and more excited than I have been in years,” say former Alumni, Chris Perram, CEO, FileFacets.
L-SPARK’s singular focus on growing SaaS companies has generated a new centre of excellence for SaaS in Canada. L-SPARK’s network of mentors, advisors and corporate partners are best of breed in Canada with specific domain expertise in enterprise SaaS. Founders work directly with a supporting group of champion partners such as Microsoft, Amazon, IBM, OpenText, Shopify, Citrix, Mitel and more.
Anthony Mar, co-founder and CEO of Cliniconex was able to solidify his startup’s path to channel partnerships while in the L-SPARK program.
“When a partner is able to sell for you and bring real volume through your company great things happen. We’ve been able to grow our user base by 10% per month and increase our revenues compared to the previous year almost 100%. Because of our partnerships we have fantastic momentum,” says Mar.
Up to ten startups will be selected for the Accelerator program. Entrepreneurs with a commercial product in market and at least 10-30K MRR (Monthly Recurring Revenue) that are disrupting a rapidly growing market should apply.
Applications will remain open until August 11, 2017 via the L-SPARK website http://www.l-spark.com/our-accelerator/about-the-accelerator/accelerator/
ABOUT L-SPARK
The L-SPARK Accelerator is the destination for market ready SaaS and cloud companies to connect with Canada’s SaaS experts. The L-SPARK acceleration model positions companies to propel their revenues to $100k MRR. With a network of established relationships with key venture capital firms, angel investors, and the investment community at large, L-SPARK’s goal is to scale Canada’s best in SaaS to 10 x revenue growth. Visit us at www.l-spark.com, connect with us on linkedin.com/l-spark or follow us on Twitter @LSPARKGlobal.
If you would like more information about this topic, please contact Jamie Keeley at (613) 791-2761 or email jamie@l-spark.com.
