Adfinitum, the St. John’s-based advertising data bank, has learned that it is one of six companies invited to participate in the Canadian Technology Accelerator, or CTA, program in New York this summer.
The CTA is a three-month program organized by the Canadian Consulate in New York that will help six Canadian tech startups learn from the digital industries that have clustered in the largest U.S. city. The program offers communal office space for all the qualifying entrepreneurs, introductions to potential mentors and investors, and support from the Trade Commissioner Service.
Adfinitum CEO Ed Clarke said the company would be there for the May 30 inauguration and was looking forward to the program. The company has recently hired business development manager Carol Morrison, who’s based in New York, and she will be able to attend the sessions throughout the summer. (The company has also taken on a representative in London in the past few months.)
Above all, Adfinitum hopes to use the program to increase its links to investors as it is now working on its next round of funding.
“We’re looking for $1 million and we might we well strike while the iron’s hot,” said Clarke.
The company in December closed a round of funding worth at least $750,000 led by GrowthWorks Atlantic and including a team of local and international angel investors. In its previous funding, the Newfoundland and Labrador Angel Network placed an undisclosed amount in the company in November 2007, and two years later a group of Japanese clients invested in Adfinitum.
AdFinitum has a database of 13 million advertisements from about 60 countries. It sells advertisers access to its databank so they can learn how their competitors are advertising around the world and use that information to plan their own ad campaigns. It is on the verge of adding new clients in Israel, Canada, Belgium, Russia and Pakistan.