On November 10, 2021, StellarAlgo announced it had completed a $16.5 million Series A financing round led by Carallas Holdings, the investment arm of Carfin, and Orlando Corporation, a major Canadian landlord of industrial and commercial real estate. This round consisted of equity capital, $3.5 million in debt from RBCx and $1 million in secondary funding. The total funding raised, which equals a total of $19 million, will be used by StellarAlgo to invest in product development and expanding its offering to build partnerships. StellarAlgo will also expand its workforce over the next 12 to 18 months, opening headquarters in both the United States and Europe.
StellarAlgo is a Calgary-based data company that specializes in a customer cloud platform for the sports and live audience industry.
Osler, Hoskin & Harcourt LLP advised Carfin with a team consisting of Chad Bayne, Michael Grantmyre, Gary Marshall (Emerging and High Growth Companies) and Lindsay Hofer (Corporate).