Waterloo Tech Highlights for January 2018 

Our goal is to provide you with a monthly primer on significant news events from private Waterloo-based technology companies in 5 minutes or less.

We didn’t send out a newsletter at the end of December so there are a couple older stories here this month but it’s mostly a run-down of who got a big year-end bonus.

Igloo had a busy Q4, closing a C$60M investment from Frontier Capital.  They reported 229% YoY growth for Q4 and a 75% increase in new business for the year.

Nicoya raised $2M from a large network of 11 angels and investors.  They have 19 employees and have doubled revenue every year for 3 years in a row.

KA Imaging raised $300k from local angels and are busy working on their Series A.  They aim for a mid-year FDA submission for their new x-ray technology.

Intellijoint experienced exceptional growth in both procedures (450%+) and revenue (600%+).  They launched a large strategic partnership in Australia.

Axonify grew revenues by 40% in 2017 while adding 40 people and 50 new customers.

Plum exited 2017 with double the ARR and 200% revenue growth.  They’re now up to 21 employees and have expanded into enterprise healthcare with a six-figure pilot with Visiting Nurses Services of New York.

Auvik grew MRR by 160% in 2017 while growing their networks under management by 270%.  They hit 100 employees, more than doubling headcount from the start of the year.

SSIMWAVE started 2017 with nine employees and ended with 41.

Grobo has started shipping.


Chris’ Thoughts

This fall I began a journey to the world of GTD – named after the book, “Getting Things Done” a productivity planning system that’s got quite a cult following.

The stress of forgetting a “to-do” that comes to mind during a conversation means I pay less attention – substantially less than I would have thought before changing my habits.  Just this one change has increased my day’s productivity – probably by 30%. I spend too many cycles thinking about my next task or preparing for my next call instead of focusing on my current one.  While I’m talking with Bob, I’m reminding myself that I need to call Joe and respond to Larry’s query.  Instead, if I commit to get quick notes written in OmniFocus about Joe and Larry then I can focus solely on my conversation with Bob, making the exchange richer and more productive with fewer unnecessary follow-ups or misunderstandings.

The problem with remembering is I underestimate how many mental cycles it consumes when I’m on a different task and how inefficient my brain becomes when I’ve got too many tabs open.  Changing the way I plan and execute my work day has really illustrated the powerful lie of multi-tasking and while I’ve never considered myself ineffective, I’m amazed at how the opportunity to focus without worry about forgetting changes my ability to get through work tasks with much greater speed and quality.

I actually switched phone platforms to get OmniFocus with me everywhere I go and hitch up to the GTD train.  If you’re looking for a system that works in a highly interruption-driven work culture, or you struggle to finish one thing before starting another, I’d highly recommend it.

Waterloo Tech Highlights is a communication initiative run by a group of experienced investors and strategists who would like to receive and share real news about the vibrant Waterloo, Ontario tech community.

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Chris Wormald @cwormald