What is QRA?
Founded in 2012, QRA specializes in developing failsafe systems for its clients. The company's core offerings include two key products, developed with support from the Atlantic Canada Opportunities Agency (ACOA). QRA's journey has been marked by consistent technology and product development, particularly for its QVscribe product, which has helped expand its market share and establish its thought leadership across various industries. Over the years, QRA has garnered substantial backing, totaling over $12 million in financing from a mix of strategic partners and government initiatives.
How much funding has QRA raised?
QRA has raised a total of $6M across 2 funding rounds:
Grant
$3M
Other Financing Round
$3M
Grant (2016): $3M with participation from Atlantic Canada Opportunities Agency
Other Financing Round (2021): $3M led by Newfund, BDC, and Innovacorp
Key Investors in QRA
Newfund
Newfund Capital is an early-stage venture capital firm based in Silicon Valley and Paris, dedicated to investing in exceptional entrepreneurs and helping startups grow through scaling and networking opportunities.
BDC
BDC Business Development Bank of Canada provides a wide range of financial and consulting services to small businesses, concentrating on technology and exporting.
Innovacorp
Innovacorp is a venture capital firm that supports early-stage technology companies in Nova Scotia, providing investment and strategic guidance to foster growth and innovation.
What's next for QRA?
With a history of doubling annual profits for the past three years, QRA appears to be in a scaling phase, leveraging its recent strategic investment to further its product development and market penetration. The company's focus on continuous technology advancement, supported by entities like Newfund Capital and BDC, suggests a trajectory aimed at solidifying its market leadership in failsafe system development. Future growth will likely involve expanding the reach of QVscribe and potentially exploring new product lines to address evolving industry needs.
See full QRA company page
