Halifax SaaS Company Closes $1.45M in Non-Dilutive Series A Funding Round

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The raise was led by established NS-native banking executive to fuel the start-up’s growth

HALIFAX – October 5th, 2017 – LifeRaft, a leading open source intelligence provider for the corporate security industry, is pleased to announce the addition of former Group Head and Chief Executive Officer of Global Banking & Markets at The Bank of Nova Scotia, Mike Durland, as a major investor and strategic advisor to the company.

Durland, originally from Middleton, NS, will be joining the team and participating in both Board and Advisory roles within the company. The funding will be used to expand sales and marketing by adding new resources, and to further drive product development to retain and add to the list of major commercial customers around the world.

“This is a strategic round that will allow us to significantly advance our growth and development plans,” says John Gallinaugh, CEO of LifeRaft. “Leading this round is Mike Durland, a sophisticated investor, who sees the value in our solution and clearly recognizes the potential of Liferaft. Mike is a welcomed addition to our team."

Founded in 2014, LifeRaft’s technology platform identifies potential threats to people and company assets by gathering actionable intelligence from open source channels such as social media, the deep web, and other digital sources, filtering it so only the most critical information is identified.

“As technology advances, we need to be continually analyzing how it impacts our security operations,” says Mike Durland, CEO of Melancthon Capital. “LifeRaft’s software offering is truly revolutionizing the way critical information is identified and turned into actionable intelligence. I’m very much looking forward to being a part of the major growth ahead.”

LifeRaft was recently named one of the Top Up & Coming 25 ICT companies in Canada by Branham Group Inc. The Canadian Trade Commissioners Office also chose LifeRaft to partake in the Canadian Technology Accelerator program, based out of New York City. The Company is actively recruiting for various departments and participated as an exhibitor at the Halifax Career Fair last week in search of local talent.

Melissa Cooper
Communications Manager, LifeRaft
902.266.6352
Melissa@liferaftinc.com

 

About Mike Durland
Mike Durland is the former Group Head and CEO, Global Banking and Markets for Scotiabank. He retired from Scotiabank in 2016 to pursue a variety of business, philanthropic and academic interests. Today, Durland is the CEO of Melancthon Capital, a member of the Business Strategy Committee for the Global Risk Institute, the Chair of the Board of Directors of DeepLearni.ng, a founding principal in Cabot Links, a member of the Board of Directors of TruLeaf Sustainable Agriculture, a member of the advisory board of Riipen Networks Inc, a member of the Board of Directors of the Dalhousie Medical Research Foundation, a member of the Advisory Board of the Smith School of Business at Queen’s University, a member of the Advisory Board of the Center for Social Impact at Queen’s University and the Master of Management Analytics Program at Queen’s University.

Durland holds a B Comm degree from St. Mary’s University, a PhD in Finance and Operations Research from Queen’s University and an honorary Doctorate from St. Mary’s University.

About LifeRaft
www.liferaftinc.com

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