Distil Interactive Secures $2.2 Million in A Financing

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<p><strong>Ottawa, Ontario &mdash; June 18 </strong><br />Distil Interactive, a developer of new-media platforms, has received $2.2 million in Series A funding from the GrowthWorks Canadian Fund. </p><p>This investment, made in addition to a previous $700,000 investment from the GrowthWorks Commercialization Fund, will be used to support Distil&rsquo;s ongoing product development. <br /><br />&ldquo;Distil Interactive represents the leading edge of a new wave of innovative Ottawa-based technology companies,&rdquo; said Tim Lee, GrowthWorks Capital senior vice president of investments. &ldquo;We have been impressed with Distil&rsquo;s approach as a new-media company addressing the needs of the training and assessment industry, as well as its ability to gain market traction so quickly. This investment is representative of our level of confidence in Distil&rsquo;s potential and innovation.&rdquo;<br /><br />This financing will allow Distil to continue its research and development on automated assessment technologies for personnel certification. </p><p>It also will support the finalization and release of its authoring tool that will provide a platform for certification experts to create their own content.<br /><br />&ldquo;Distil is dedicated to leveraging our expertise in the new-media industry to develop a technology that will change how training and assessment is conducted across all industries,&rdquo; said Jonathan Adair, Distil COO. &ldquo;It&rsquo;s not every day that new media companies secure the interest of venture capitalists. We are excited to be working with GrowthWorks and are thrilled about its continued belief in our business model as a digital games-based learning company.&rdquo;<br /><br />Distil lays claim to some impressive customer wins such as the Canadian Standards Association (CSA) and the National Quality Institute (NQI), which have placed Distil&rsquo;s games with large enterprises, including Sun Life Financial, Canada Post, CIBC and Abbot. </p><p>Recently, the company was honored as a finalist for the Most Promising New Company at the Canadian New Media Awards and the Ottawa Centre for Research and Innovation&rsquo;s Most Promising Start-Up Award.&nbsp; </p>

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