Halifax-based software startup Bright (formerly Cribcut) has secured $1.45 million CAD in seed funding in August from a group of Atlantic Canadian investors.
Bright’s platform includes classes about fitness, meditation, and mindfulness, along with workshops focused on nutrition and self-care.
The investment was led by Tidal Venture Partners, which focuses on pre-seed and seed startups, and manages a fund that is just over $4 million. Bright’s raise also had participation from Concrete Ventures and Innovacorp—the latter of which is being consolidated with Nova Scotia Business Inc. to form Invest Nova Scotia.
David Wilson, a member of Innovacorp’s board of directors, along with Proposify CEO Kyle Racki, joined Bright’s board of directors last year as part of an $850,000 investment into Bright. Wilson was among a number of existing angel investors that participated in the round.
Founded in 2020, Bright offers over 300 expert-led, live and virtual classes to companies through its “wellness at work” web and mobile app platforms. Users receive a daily recommended break in their calendar, driven by a smart recommendation system that factors in the user’s preferences, behaviour, and more.
Bright CEO and co-founder David Howe told Entrevestor that the majority of Bright’s customers are based in the United States (US). Around 60 percent of its customers are in the US and the rest are located in Canada.
Bright’s platform includes classes about fitness, meditation, and mindfulness, along with workshops focused on nutrition and self-care. The company claims to have over 100 customers ranging from 25 to 1,000 employees, including Rakuten Kobo, Totes Isotoner, and Equitable Bank.
Under the name Cribcut, the company initially provided at-office haircuts and beauty services. It pivoted to providing well being and fitness services in 2020. As Cribcut, the company raised $1.06 million in equity funding in 2019.
According to Bright, this latest infusion of capital brings Bright’s total funding to around $2.3 million to date and will help the startup in its goal of having one million employees worldwide taking weekly breaks using its platform by 2025. Entrevestor reported that the startup now has enough runway for about a year and a half, and is planning for another raise after that.
Featured image from Bright’s blog post.
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