Dealfind, a consumer daily deal site has announced the company has secured $31 million in investment funds from three leading venture capital investors. Insight Venture Partners (New York), Georgian Partners (Toronto), and the Ontario Venture Capital Fund “OVCF” (Toronto) invested in the one -year old startup which now makes it the only Canadian “Groupon-like” site to receive significant investment. The company plans to use the funds to grow its infrastructure and advance its aggressive plan to expand across Canada and the United States in 2011.
“Securing such significant financing after only one year in business is a testament to the current success of Dealfind, as well as our future expected growth,” said Gary Lipovetsky, President, Dealfind. “From day one, we have been committed to providing consumers with premium online group-buying services and these funds will allow us to continue achieving that goal.”
The company was founded by Gary Lipovetsky and Michael Tulman, as a division of MenuPalace.com, an online restaurant directory which was founded in 1999.