Local Logic, a Montreal, CA-based company specialized in urban data collection and analysis, closed a $1.15m first funding round.
The round was led by Cycle Capital Management with participation from BDC, 500 Startups Canada and Yellow Pages.
The company intends to use the funds to grow the team and finance the expansion of the technology throughout the North-American market.
Led by Vincent-Charles Hodder, CEO, and Gabriel Damant-Sirois, CPO, Local Logic is a big data company which uses a combination of geospatial and user generated usage data to quantify the qualities of any given location within a city. The technology developed is used to guide the decisions of consumers when looking for real estate or travel accommodations.
The company already counts Centris, Quebec’s largest real estate website, as well as Sotheby’s International Realty Canada among its clients.