Nulogy, headquartered near Queen and Bathurst in downtown Toronto, has received up to $954,687 in financing from the federal government through its economic development agency,
FedDev Ontario. The company will use the money to finance global expansion, according to CEO Jason Tham, as it launches its consumer products packaging software PackShop. This summer's federal announcement came just months after
Nulogy received $3 million in private financing from a group led by Klass Capital.
Nulogy was launched in 2002 by a group of Waterloo University graduates to provide software to the consumer packaged goods industry. It has since well established itself through its PackManager software. As Economic Development Minister Gary Goodyear said in his speech at the Nulogy headquarters, "Our contribution to this company will help them research, develop and bring their new PackShop software to market. This innovative software will allow retailers, marketers and manufactures to customize the packaging design of any product. Since 2006, the company has significantly increased revenues and demonstrated the potential for continued rapid growth."
Tham said that the expansion of the company will grow in alignment with its "Living and investing locally, while competing globally" philosophy, saying "Nulogy will use this financing to expand as we secure new customers and enter new markets around the world." The expansion is expected, according to FedDev Ontario, to create 40 full-time jobs.
Writer: Edward Keenan
Source: Nulogy; Gary Toft, Director of Communications, Office of the Honourable Gary Goodyear