Telecom software startup Gaiia secures $40-million USD Series B round

Québec City-based telecom software startup Gaiia has raised a $40-million USD ($54.8-million CAD) Series B round as it hopes to invest an “ungodly” amount in its product, research and development, and 90-person team. Gaiia has raised nearly $90 million CAD from backers including Y Combinator, GTMfund, and Workleap CEO Simon De Baene. The all-equity, all-primary minority investment was led by US private equity firm JMI Equity—which has backed Canadian tech companies such as Clio and PointClickCar