Influitive, a Toronto-based company that has built a software platform for customer advocate marketing, made two acquisitions in March. At the beginning of the month, the company announced that it was acquiring Ironark Software, a company that developed apps for home organizing and business task management. Less than three weeks later, Influitive announced that it is acquiring Triggerfox, which has built a mobile platform for relationship management. The financial details of both transactions were not disclosed. Both of the acquired companies are also based in Toronto.
Influitive is one of Toronto’s hottest new tech companies. It was founded by Mark Organ, who previously founded the marketing automation software company Eloqua, which was sold to Oracle for over $870 million in late 2012. The company has raised close to $50 million in growth capital from an array of Canadian and US venture capital funds.
After raising an $8.2 million Series B round at the end of February, Mr. Organ indicated that some of this capital would be deployed as acquisitions, and in March he made good on that promise. It was encouraging to see that Influitive targeted other Toronto-based companies rather than seeking out software and talent further afield.