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Pretzil lands angel funding

Pretzil staff members celebrating after hitting 900,000 users (Photo supplied)

Published on April 12, 2012; Published on April 11, 2012
Courtney Symons

Ottawa startup Pretzil closed a second round of angel financing for an undisclosed sum in March, after receiving $300,000 during its first round in October 2010 when the company launched.

The funds came from a group of about 10 unidentified investors, and will be used to hire three new staff members - an Android developer, a BlackBerry developer and a database administrator. The new employees will add to Pretzil's existing staff of five.

Co-founder Kyle McInnes said that the company is open to additional funding, but also hopes to build a company that can be self-sustained.

Pretzil - one of OBJ's Startups to Watch in 2011 - develops a platform that allows users to find apps suitable for them using social media and location information, as well as metrics about the user's app habits. The software recommends apps by determining things such as what apps friends have downloaded, and what people nearby are using.

The company, which Mr. McInnes said is approaching 1.5 million users, will launch a new product later this month condensing the entire Pretzil platform into an iOS app. About 50 beta testers are using the product right now, Mr. McInnes said.

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