First Ascent Ventures

First Ascent Ventures, established in 2015, is a Toronto-based venture capital firm with additional offices in Montreal and San Francisco. The company specializes in investing in Series A and B rounds, focusing on emerging Canadian technology companies developing disruptive, enterprise B2B software applications. These applications leverage cutting-edge technologies such as AI, machine learning, big data, cloud, and mobility. First Ascent typically invests CAD5 million to CAD10 million per company, often taking a Board seat, and aims to support outstanding entrepreneurs seeking both financial backing and operational expertise for growth and successful exits.

Richard Black

Co-Founder and Managing Partner

28 past transactions

Darwin CX

Venture Round in 2025
Darwin CX is a software-as-a-service platform focused on enhancing customer acquisition and retention. The company specializes in customer intelligence management and leverages artificial intelligence to optimize these processes. Darwin CX's applications are tailored for businesses operating under a subscription model, aiming to replace outdated technologies with advanced tools for marketing, commerce, and data management. This enables clients to orchestrate superior customer experiences, ultimately driving growth and loyalty.

Thentia Cloud

Series B in 2024
Thentia Cloud is a leading company that specializes in providing regulatory, compliance, and governance database services. The company leverages proprietary technology to assist regulatory bodies in efficiently meeting their obligations. Thentia serves a diverse range of clients across Canada and the United States, offering cutting-edge software solutions and industry-leading expertise in regulatory standards. Their product suite includes a secure, user-friendly platform for regulators and a cloud-based compliance solution designed for private businesses, boards of directors, committees, executive teams, and stakeholders. This enables both public and private entities to maintain high standards of regulatory excellence in a timely and professional manner.

Osano

Series B in 2023
Osano is a provider of a cloud-based data privacy compliance suite designed to assist businesses in adhering to various privacy regulations, including GDPR and CCPA. The company's platform analyzes thousands of online privacy policies, offering insights that enable organizations to understand and navigate the complexities of data privacy laws across different jurisdictions. Through its software, Osano empowers clients to make informed decisions regarding their data interactions and sharing practices with websites and service providers, ultimately enhancing their compliance efforts and promoting responsible data management.

Shinydocs

Venture Round in 2023
Shinydocs specializes in automating the management of unstructured data, content, and files within organizations. By providing solutions that facilitate the identification and utilization of this growing volume of information, Shinydocs enhances understanding and control over enterprise data. The company's software aims to reduce the risks associated with unmanaged sensitive information while simultaneously improving business efficiency. Shinydocs' approach is designed to operate seamlessly in the background, ensuring that there is no disruption to end users or the need for extensive change management. This enables organizations to make informed decisions and implement collaborative tools that maximize their operational effectiveness.

Darwin CX

Venture Round in 2022
Darwin CX is a software-as-a-service platform focused on enhancing customer acquisition and retention. The company specializes in customer intelligence management and leverages artificial intelligence to optimize these processes. Darwin CX's applications are tailored for businesses operating under a subscription model, aiming to replace outdated technologies with advanced tools for marketing, commerce, and data management. This enables clients to orchestrate superior customer experiences, ultimately driving growth and loyalty.

Andgo

Series A in 2022
Andgo Systems is a developer of workflow automation software focused on enhancing scheduling efficiency for organizations with high-volume scheduling needs. The company specializes in filling unplanned vacant shifts through automated and configurable workflows that streamline complex scheduling processes. By collaborating closely with clients, Andgo Systems tailors its solutions to align with existing organizational processes and integrates seamlessly with current scheduling systems. Their technology facilitates effective communication regarding immediate and planned absences, ensuring that the appropriate personnel are assigned to the right shifts, ultimately improving productivity and operational effectiveness.

Potloc

Series B in 2022
Potloc Inc. is a Montreal-based company that operates an online consumer insights platform, which was founded in 2014. The platform specializes in providing businesses with market insights through various survey methodologies, including web panels, phone surveys, and geo-targeted surveys utilizing social networks. This innovative approach allows Potloc to gather authentic consumer feedback and data on purchasing habits, helping companies predict customer retention and acquisition. Trusted by numerous leading brands and organizations, Potloc's platform enables retailers and businesses to effectively connect with their target audiences globally. With offices in Toronto, Paris, and Geneva, Potloc has established itself as a key player in the market research industry, delivering high-quality data insights that meet the specific needs of its clients.

LinkSquares

Series C in 2022
LinkSquares, Inc. is a software company founded in 2015 and headquartered in Boston, Massachusetts. It specializes in AI-powered contract management and analytics, providing a platform that aids in contract discovery, reporting, and analysis for in-house legal and finance teams. The platform features capabilities such as full-text search, metadata extraction, automatic classification, custom reporting, and secure contract storage. By leveraging machine learning, LinkSquares enables organizations to streamline their contract management processes, significantly reducing the time and costs associated with manual contract handling. The company's tools are designed to assist clients in identifying key data and liabilities within contracts, supporting internal reviews, legal audits, and due diligence efforts.

Sama

Series B in 2021
Sama is a data annotation company that specializes in providing image, video, and sensor data validation for machine learning applications. Founded in 2008 and headquartered in San Francisco, California, the company operates additional locations in New York, Brazil, Canada, the Netherlands, Kenya, Uganda, and Singapore. Sama's platform supports various industries, including transportation, retail, healthcare, manufacturing, and agriculture, by delivering high-quality training data that enhances the development of accurate machine learning models. The company's offerings include automated annotation techniques such as bounding boxes, semantic segmentation, and video object training, which streamline the data preparation process. By partnering with leading organizations, Sama aims to advance AI capabilities while creating opportunities for low-income individuals through the digital economy.

LinkSquares

Series B in 2021
LinkSquares, Inc. is a software company founded in 2015 and headquartered in Boston, Massachusetts. It specializes in AI-powered contract management and analytics, providing a platform that aids in contract discovery, reporting, and analysis for in-house legal and finance teams. The platform features capabilities such as full-text search, metadata extraction, automatic classification, custom reporting, and secure contract storage. By leveraging machine learning, LinkSquares enables organizations to streamline their contract management processes, significantly reducing the time and costs associated with manual contract handling. The company's tools are designed to assist clients in identifying key data and liabilities within contracts, supporting internal reviews, legal audits, and due diligence efforts.

Dialogue Health Technologies

Series B in 2020
Dialogue Health Technologies operates a comprehensive virtual care platform that provides employee wellness and health solutions for Canadian employers. Founded in 2016 and based in Montreal, the company offers a variety of services aimed at enhancing employee engagement and health. Its platform allows employees to interact with healthcare professionals, including nurses and doctors, for support in physical and mental health. Additionally, the platform facilitates care navigation, medication delivery, and referrals to specialists. By empowering employees to take charge of their health, Dialogue Health Technologies helps businesses create a healthier workforce, leading to increased productivity and overall employee satisfaction.

ThinkData Works

Series A in 2020
ThinkData Works specializes in unlocking the value of data to drive business growth. The company addresses challenges posed by varied data sources, inconsistent formats, and evolving compliance requirements. Their unified cloud platform offers seamless connections to any data source, robust metadata management, and secure tools for delivering data both within and outside an organization. This platform is designed to handle complexities in data variety, reducing overhead and fostering innovation. ThinkData Works enables developers, civil society organizations, and businesses to leverage standardized public data from government sources, focusing on areas such as transportation, education, and healthcare.

LinkSquares

Series A in 2020
LinkSquares, Inc. is a software company founded in 2015 and headquartered in Boston, Massachusetts. It specializes in AI-powered contract management and analytics, providing a platform that aids in contract discovery, reporting, and analysis for in-house legal and finance teams. The platform features capabilities such as full-text search, metadata extraction, automatic classification, custom reporting, and secure contract storage. By leveraging machine learning, LinkSquares enables organizations to streamline their contract management processes, significantly reducing the time and costs associated with manual contract handling. The company's tools are designed to assist clients in identifying key data and liabilities within contracts, supporting internal reviews, legal audits, and due diligence efforts.

Sensibill

Series B in 2019
Sensibill Inc., established in Toronto, Canada in 2012, operates a cloud-based application that helps users manage and track their spending via receipts. The company's AI-powered platform enables end-users to easily monitor their financial habits while providing financial institutions with personalized insights to assist customers in building healthier finances. Sensibill has reached over 60 million users across North America and the U.K., transforming SKU-level data into actionable insights for both consumers and institutions.

Dialogue Health Technologies

Series B in 2019
Dialogue Health Technologies operates a comprehensive virtual care platform that provides employee wellness and health solutions for Canadian employers. Founded in 2016 and based in Montreal, the company offers a variety of services aimed at enhancing employee engagement and health. Its platform allows employees to interact with healthcare professionals, including nurses and doctors, for support in physical and mental health. Additionally, the platform facilitates care navigation, medication delivery, and referrals to specialists. By empowering employees to take charge of their health, Dialogue Health Technologies helps businesses create a healthier workforce, leading to increased productivity and overall employee satisfaction.

Q4

Series C in 2018
Q4 Inc. is a cloud-based platform that specializes in providing investor relations (IR) and capital market solutions to public companies globally. Founded in 2005 and headquartered in Toronto, Canada, with additional offices in New York, Chicago, and Copenhagen, Q4 offers a comprehensive suite of tools designed to enhance communication and engagement between organizations and their investors. Their flagship product, Q4 Desktop, serves as an all-in-one IR solution that equips clients with the necessary insights and information for effective decision-making. The company designs and develops corporate websites, provides audio and video webcasting services, and delivers analytics and reporting tools that track trading activities and investor behavior. Q4 aims to improve the effectiveness of investor relations through innovative website solutions and a strong focus on storytelling, making it a trusted partner for over 2,200 prominent brands. Their services are delivered primarily on a subscription basis, utilizing a software-as-a-service model to support the diverse needs of their clients in the capital markets.

Upchain

Series A in 2018
Upchain is a provider of cloud-based product lifecycle management (PLM) and product data management (PDM) solutions, established in 2015. The company aims to transform PLM by making it accessible to all users across the supply chain, rather than just large multinational corporations. Upchain's software facilitates collaboration within decentralized product value chains, offering features such as item management, version control, change management, bills of materials management, file compliance, and integration with computer-aided design tools. By focusing on creating an interconnected supply chain, Upchain seeks to simplify complex processes, enabling manufacturers to enhance revenue, reduce costs, and improve product quality.

Rubikloud

Series B in 2018
Rubikloud Technologies Inc., established in 2013 and headquartered in Toronto, Canada, specializes in developing and operating cloud-based enterprise data platforms powered by artificial intelligence (AI). The company caters to global retailers and consumer packaged goods (CPG) industries, offering solutions such as Retail AI for promotion effectiveness, forecasting, and optimization, and CPG AI for demand forecasting and trade promotion optimization. Rubikloud's flagship products include RubiCore, a big data platform for processing disparate data sources, RubiView for automated market and business intelligence reports, and RubiOne for personalized campaign management. The company operates globally with sales offices in the USA, the UK, and Hong Kong, serving multi-billion dollar clients. As of 2020, Rubikloud operates as a subsidiary of Kinaxis Inc.

Sportlogiq

Series A in 2017
SportLogiq Inc. is a Montreal-based company that specializes in developing an artificial intelligence-driven sports analytics software platform. Founded in 2014, SportLogiq utilizes computer vision technology to analyze player movement and actions during games by leveraging standard broadcast feeds. This innovative platform provides teams with valuable insights to enhance their strategic planning and execution while enabling broadcasters to engage viewers more effectively. Additionally, the analytics generated by SportLogiq support media professionals in storytelling and data-driven reporting, thereby enriching the overall understanding of the game for teams, analysts, and fans alike.

Assent Compliance

Series B in 2017
Assent Compliance Inc. is a Canadian-based software company founded in 2005 that specializes in compliance management and data solutions for manufacturers. The company offers a comprehensive suite of products designed to help businesses navigate complex regulatory environments, focusing on areas such as product compliance, trade compliance, and environmental sustainability. Its core offerings include Global Product Regulatory Software, Environmental Compliance Software, and Inspection Software, which facilitate the management of compliance portfolios and streamline supplier communications. Additionally, Assent provides regulatory compliance consulting and data collection services, assisting organizations in meeting local and international regulatory standards. By leveraging technology that enhances visibility within supply chains, Assent enables companies to deliver responsible products to market while addressing the demands of evolving regulations.

Astronomer

Seed Round in 2017
Astronomer, Inc. is a company based in Cincinnati, Ohio, that specializes in developing a managed platform for data orchestration, primarily utilizing Apache Airflow. Established in 2014, Astronomer offers a comprehensive suite of products and services through its platform, known as Astro. This platform is designed to streamline the process of building, running, and monitoring data pipelines-as-code, catering to the needs of data engineers, scientists, and analysts. By providing tools for deploying, managing, and scaling data workflows, Astronomer enhances the availability of trusted data for organizations, making it easier for data teams to conduct business analytics effectively. As a commercial developer of Airflow, Astronomer plays a significant role in the data orchestration landscape, serving hundreds of thousands of teams globally.

Sensibill

Series A in 2017
Sensibill Inc., established in Toronto, Canada in 2012, operates a cloud-based application that helps users manage and track their spending via receipts. The company's AI-powered platform enables end-users to easily monitor their financial habits while providing financial institutions with personalized insights to assist customers in building healthier finances. Sensibill has reached over 60 million users across North America and the U.K., transforming SKU-level data into actionable insights for both consumers and institutions.

DailyPay

Series A in 2016
DailyPay is a worktech company based in New York City that specializes in providing earned wage access solutions. Through its award-winning technology platform, DailyPay helps top employers enhance their relationships with employees by offering a voluntary benefit that allows workers to access their earnings on demand. This service aims to motivate employees to work harder and stay longer with their employers while supporting their financial well-being outside of the workplace. The company's digital wallet system enables employees to send their money directly to any bank account or use it to purchase goods and services, thereby promoting financial wellness across various sectors.

Q4

Series B in 2016
Q4 Inc. is a cloud-based platform that specializes in providing investor relations (IR) and capital market solutions to public companies globally. Founded in 2005 and headquartered in Toronto, Canada, with additional offices in New York, Chicago, and Copenhagen, Q4 offers a comprehensive suite of tools designed to enhance communication and engagement between organizations and their investors. Their flagship product, Q4 Desktop, serves as an all-in-one IR solution that equips clients with the necessary insights and information for effective decision-making. The company designs and develops corporate websites, provides audio and video webcasting services, and delivers analytics and reporting tools that track trading activities and investor behavior. Q4 aims to improve the effectiveness of investor relations through innovative website solutions and a strong focus on storytelling, making it a trusted partner for over 2,200 prominent brands. Their services are delivered primarily on a subscription basis, utilizing a software-as-a-service model to support the diverse needs of their clients in the capital markets.

Assent Compliance

Series A in 2016
Assent Compliance Inc. is a Canadian-based software company founded in 2005 that specializes in compliance management and data solutions for manufacturers. The company offers a comprehensive suite of products designed to help businesses navigate complex regulatory environments, focusing on areas such as product compliance, trade compliance, and environmental sustainability. Its core offerings include Global Product Regulatory Software, Environmental Compliance Software, and Inspection Software, which facilitate the management of compliance portfolios and streamline supplier communications. Additionally, Assent provides regulatory compliance consulting and data collection services, assisting organizations in meeting local and international regulatory standards. By leveraging technology that enhances visibility within supply chains, Assent enables companies to deliver responsible products to market while addressing the demands of evolving regulations.

Rock Content

Series A in 2016
Founded in 2013, Rock Content is a provider of content marketing services that assists over 2,000 brands, marketers, and agencies in enhancing their content experiences. The company offers innovative solutions that leverage artificial intelligence tools to improve brand positioning and support account-based marketing programs. In addition to content creation, Rock Content provides managed services that ensure comprehensive program and campaign coverage, complete with real-time dashboards and reporting capabilities. Its mission is to create growth opportunities for both its clients and its talent community, positioning itself as a key player in the content marketing industry.

ThinkData Works

Series A in 2016
ThinkData Works specializes in unlocking the value of data to drive business growth. The company addresses challenges posed by varied data sources, inconsistent formats, and evolving compliance requirements. Their unified cloud platform offers seamless connections to any data source, robust metadata management, and secure tools for delivering data both within and outside an organization. This platform is designed to handle complexities in data variety, reducing overhead and fostering innovation. ThinkData Works enables developers, civil society organizations, and businesses to leverage standardized public data from government sources, focusing on areas such as transportation, education, and healthcare.

ScribbleLive

Series D in 2015
ScribbleLive is a content cloud provider headquartered in Toronto, Ontario, that specializes in helping companies manage their content lifecycle. Founded in 2008, the company offers a comprehensive platform designed to empower businesses to create premium content at scale. ScribbleLive's services include content strategy, creative services, implementation, integration, and IT support, enabling clients to effectively engage with their audiences. The platform features capabilities for liveblogging, real-time journalism, and on-the-fly storytelling, allowing organizations to leverage data and creativity for impactful content creation. Through its managed services, ScribbleLive provides program and campaign coverage, complete with dashboards and program reporting, ensuring clients can achieve predictable results in their content efforts.
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