Canada · Funded startup

Who invested in Top Hat

8 rounds we have observed, with the 15 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

EdtechProptech

Valuation: $500M, Oct 2024

Funding summaryUpdated 26 Oct 2026

$151Mraised across 8 rounds since 2010, from 8 sources

$1.5MVenture$1.6MSeed$7.9MSeries A$1.1MVenture$11MSeries B$23MSeries C$7.5MRound$98MRound
Latest round
Round, $98MApr 2019
Step-upi
13.1×
Investors
15
See who backed them

The funding story

Each circle is a round, placed by date and sized by amount. The line above is the running total.

20102012201420162018
$1.5MVenture$1.6MSeed$7.9MSeries A$1.1MVenture$11MSeries B$23MSeries C$7.5MRound$98MRound
First round
Venture, $1.5M
Jan 2010
Biggest round
$98M
Round · Apr 2019
Usual gap between rounds
16 months
the median of 7

The rounds

  1. Apr 2019
    Round$98M

    No investor was named in the report.

    Reported by Tophat

  2. Jun 2017
    Round$7.5M1 new

    Reported by FinSMEs

  3. Feb 2017
  4. May 2014
  5. Jan 2013
    Venture$1.1M1 new

    Reported by techcrunch.com

  6. Jul 2012
  7. Jul 2011
    Seed$1.6M1 new

    From a historical funding record

  8. Jan 2010
    Venture$1.5M

    No investor was named in the report.

    Reported by sec.govSEC filing: $1.5M sold, first sale Oct 2009

Founders and team

From Top Hat's own website: 7 on the team.

  • Maggie LeenChief Executive Officer
  • Bradley CohenChief Academic Officer
  • Hong BuiChief Product Officer
  • Larry IndovinaChief Operating Officer
  • Les CullenChief Financial Officer
  • Bill OkunExecutive Chairman
  • Donna BattistaTeam

Who was in which round

The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led.

Everyone who backed them

Inovia CapitalVC firm3rounds
FelicisVC firm2rounds
EmergenceVC firm2rounds
GeorgianVC firm2rounds
Version One VenturesVC firm2rounds
Uncork CapitalVC firm1round
Softtech VCVC firm1round
EmergenceGrowth equity1round
Version OneVC firm1round
Leaders FundVC firm1round
GoldenHedge fund1round
SoftTechno record of our own yet1round

Missing a round, or an investor who was in one? Tell us.

Also claim to have backed them

These 2 firms list Top Hat as a portfolio company on their own websites, but no report of a round names them. They are the firms' own claims, kept apart from the rounds above.

Recurring Capital PartnersPrivate creditPer its own site
Ripple CapitalFamily officePer its own site

Quick answers about Top Hat

Who invested in Top Hat?

Top Hat's investors include Inovia Capital, Felicis, Emergence, Georgian and Version One Ventures, and 10 more on record.

How much has Top Hat raised?

Top Hat has raised $151M across 8 rounds since 2010.

When did Top Hat last raise?

Top Hat's most recent round was an Undisclosed round of $98M in Apr 2019.

What was Top Hat's biggest round?

Its most recent round, $98M in Apr 2019, is also its largest on record.

Who backed Top Hat first?

Top Hat's first round on record, in Jul 2011, was backed by MaRS Investment Accelerator Fund.

What stage is Top Hat at?

Top Hat's latest named round is an Undisclosed round, in Apr 2019.

Where is Top Hat based?

Top Hat is based in Canada.

Companies like Top Hat

In the same sector, and raised in the last eighteen months.

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