If you’re a big brand going through a digital transformation (which is 99% of big brands right now) open innovation challenges are a great way to do two things: solve business problems and develop an incredible pipeline of talent. Agorize is a new marketplace that is connecting students, developers, and startups with those big brands. Hopefully Agorize is providing their employer customers with a way to harness that pipeline of talent.
Agorize, online platform for hackathons and open innovation challenges, has raised $20 million CAD, which the company said will be used to expand its Canadian presence. This round of funding brings the startup’s total raise to $25 million since it was founded in 2011.“Hackathons are used to find solutions to the wide variety of challenges that organizations may face.”The four investors are Creadev, Sofiouest, Iris Capital, and Capnamic Ventures, all European organizations. Agorize said the fundraising round will allow it to strengthen its platform and community through R&D investment and a mass recruitment campaign for its global network of innovators.