IGLOO Raises Capital to Deliver Web 2.0 Collaborative Platform Built for Corporations

May 09, 2008

IGLOO Inc., an emerging provider of corporate social networking solutions, announced the closure of a $US 4 million equity financing round from RBC Venture Partners. The financing enables IGLOO to extend and commercialize its suite of collaborative social networking tools to corporations and other organizations in the rapidly accelerating enterprise social networking space. Founded in 2003, IGLOO’s social networking platform helps hundreds of organizations globally reduce email burden, remove distances across branch offices and inspire teams with new productivity and collaboration tools. The platform was initially developed to support an online international network of researchers, practitioners and educators working on global issues. IGLOO Inc., is based in the Waterloo region, Canada’s Technology Triangle, and became a for-profit entity in March 2008. As part of the RBC Venture Partners investment, Kevin Talbot has joined Jim Balsillie on the IGLOO board.