Toronto, ON (CA), January 2023 - Cognota, a software company focused on developing the LearnOps® category and powering operations for learning and development (L&D) teams with its technology, has received a repayable investment of CA$1.9 million from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) through the Government of Canada's Jobs and Growth Fund.
The announcement was made by the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario, at an event focused on economic growth and job creation in the greater Toronto area.
"This funding will enable Cognota to scale its learning operation technology platform and expand its intellectual property portfolio while creating more jobs for Canadians," said Ryan Austin, CEO at Cognota. The funding is expected to create 16 new jobs in Ontario.
Cognota's first-of-kind LearnOps® software enables corporate learning and development teams to work more efficiently and effectively while gaining data and insights within their learning operations. During times of economic uncertainty, when learning and development teams everywhere will be expected to do more with less, Cognota's technology enables customers to manage L&D strategy, training requests, projects, and resources, as well as measure learning impact from one system, 70% faster, and at half the typical cost of using disparate platforms.
Tassi commented, "Supporting Canadian innovators as they modernize and develop new processes, technologies, and products to improve the way Canadians live and do business is critical. Today's over CA$14-million investment from the Government of Canada for eight GTA businesses highlights our commitment to creating jobs, investing in clean technologies, and growing the economy.”
"The greater Toronto area is one of the largest contributors to Canada's overall economy largely due to our competitive and cutting-edge businesses, like the eight companies receiving funding. With investments in the tech, manufacturing, and construction sectors, this announcement will not only support over 230 jobs, but will also position our local economy for long-term, future success," explained Han Dong, Member of Parliament for Don Valley North.
To date, Cognota has established partnership agreements with major companies such as IBM, Telus, Relias Health, InfoPro Learning, Complete Learning Solutions, and others to help power learning operations across the enterprise.
"The funding from FedDev Ontario will enable Cognota to fuel growth opportunities with larger clients and resellers across Canadian and US markets to scale revenue and grow its business," said Austin. "We're extremely grateful for the contributions made by the federal government."