What is QRA?
Founded in 2012, QRA is dedicated to ensuring the reliability and safety of developed systems. The company offers two primary products, developed with support from entities like the Atlantic Canada Opportunities Agency (ACOA). QRA's focus on continuous technology and product development, particularly for its QVscribe offering, has been instrumental in expanding its market share and establishing its thought leadership across various industries. This strategic approach has reportedly doubled the company's annual profits for the past three years.
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 Innovacorp, Newfund, and BDC
Key Investors in QRA
Atlantic Canada Opportunities Agency
The Atlantic Canada Opportunities Agency works to create opportunities for economic growth in Atlantic Canada. The organization is headquartered in New Brunswick, Canada.
Innovacorp
Innovacorp is Nova Scotia's primary venture capital organization, supporting early-stage technology companies with investment and business acceleration services.
Newfund
Newfund Capital is an early-stage venture capital firm based in Silicon Valley and Paris, dedicated to investing in exceptional entrepreneurs. The firm focuses on helping startups grow by providing opportunities for scaling, networking, and success while prioritizing investments that benefit both people and the planet.
What's next for QRA?
The recent major strategic investment signifies a pivotal moment for QRA, likely enabling accelerated product development, market expansion, and enhanced sales and marketing efforts. With a history of securing significant financing, including grants and venture capital, QRA is well-positioned to further solidify its market presence and continue its trajectory of profitable growth in the critical systems assurance sector.
See full QRA company page
