Already working with some of the world’s leading advertisers, Halifax-based InNetwork has been selected to participate in the Canadian Digital Media Network’s Outbound Soft-Landing Program.
The influence marketing company – which helps brands and advertisers find key influencers to help spread their message -- said earlier this month that it was the only Atlantic Canadian participant among the 27 startups selected for the program.
By participating in the program, InNetwork will receive as much as $4,000 to cover the costs of travel to key international markets – in InNetwork’s case, New York, Los Angeles and San Francisco. CEO Chris Keevil said in an interview that he already visited the key communities of New York and San Francisco in December.
“New York is really the centre of the Ad-Tech space, and it also has the headquarters of the VC community that’s active in that space,” he said.
The company began last year and received seed funding of almost $500,000 last year -- $250,000 from Innovacorp and $240,000 from a group of angels led by Gerry Pond, the chair of East Valley Ventures, who is now the Chair of InNetwork’s Board as well.
With office in Halifax and Toronto, the company assembles a network of influencers, who are people such as bloggers, editors or experts with tremendous reach and influence within an identifiable group.
InNetwork vets and approves influencers to ensure that they are bona fide opinion leaders. It beta-tested the product with about six Canadian customers last year and has been working with about a dozen paying customers.
The clientele include some of the world’s leading brands and advertisers, including Colgate-Palmolive and the PR firms FleishmanHillard, Hill and Knowlton and Visa Canada. They also include some Canadian outfits such the Central Counties Tourism Board in Ontario.
Though many of the customers are still in “pilot mode”, Keevil said the company is pleased with its high percentage of testers that become paying clients.
The seven-member team is preparing to launch a new feature on its site in May – a product roadmap that will allow clients to manage their own in-house list of influencers on the InNetwork platform.
Keevil said the company is not now raising funds, though it has met with venture capital firms, and is continuing discussions with some in New York. The company aims to raise investment in the spring or fall and has a target of $1 million to $2 million.
The other co-founder of InNetwork is Craig Rennick, a former executive with startups FloNetwork and Fortiva.