# Top Hat funding: rounds and investors > Top Hat has raised $151M across 8 rounds since 2010. Investors include Inovia Capital, Felicis and Emergence. Every round with its source. Source: https://millionrounds.com/company/top-hat (Millionrounds; every figure on the page links to its filing or article) Canada · [Funded startup](https://millionrounds.com/companies) # 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. Edtech Proptech Valuation: $500M, Oct 2024 Funding summary Updated 26 Oct 2026 **$151M** raised across 8 rounds since 2010, from 8 sources **$1.5M** Venture **$1.6M** Seed **$7.9M** Series A **$1.1M** Venture **$11M** Series B **$23M** Series C **$7.5M** Round **$98M** Round - **Latest round:** Round, $98M Apr 2019 - **Step-up i:** 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. 2010 2012 2014 2016 2018 **$1.5M** Venture **$1.6M** Seed **$7.9M** Series A **$1.1M** Venture **$11M** Series B **$23M** Series C **$7.5M** Round **$98M** Round - **First round:** Venture, $1.5M - **Biggest round:** $98M - **Usual gap between rounds:** 16 months ## The rounds - **Apr 2019** Round **$98M** No investor was named in the report. Reported by Tophat - **Jun 2017** Round **$7.5M** *1 new* [Leaders Fund](https://millionrounds.com/fund/leaders-fund) Reported by FinSMEs - **Feb 2017** Series C **$23M** *5 new* *2 returning* [Union Square Ventures](https://millionrounds.com/fund/union-square-ventures) [Inovia Capital](https://millionrounds.com/fund/inovia-capital) [Georgian](https://millionrounds.com/fund/georgian) [Emergence](https://millionrounds.com/fund/emergence) [Version One](https://millionrounds.com/fund/version-one-2) [Golden](https://millionrounds.com/fund/golden) SoftTech Reported by FinSMEs - **May 2014** Series B **$11M** *2 new* *5 returning* [Felicis](https://millionrounds.com/fund/felicis-ventures) [Inovia Capital](https://millionrounds.com/fund/inovia-capital) [Uncork Capital](https://millionrounds.com/fund/uncork-capital) [Emergence](https://millionrounds.com/fund/emergence-capital-partners) [Georgian](https://millionrounds.com/fund/georgian) [Version One Ventures](https://millionrounds.com/fund/version-one) [Golden Venture Partners](https://millionrounds.com/fund/golden-venture-partners) From a historical funding record - **Jan 2013** Venture **$1.1M** *1 new* [Felicis](https://millionrounds.com/fund/felicis-ventures) Reported by techcrunch.com - **Jul 2012** Series A **$7.9M** *5 new* [Inovia Capital](https://millionrounds.com/fund/inovia-capital) [Softtech VC](https://millionrounds.com/fund/softtech-vc) [Emergence](https://millionrounds.com/fund/emergence-capital-partners) [Version One Ventures](https://millionrounds.com/fund/version-one) [Golden Venture Partners](https://millionrounds.com/fund/golden-venture-partners) Reported by techcrunch.com - **Jul 2011** Seed **$1.6M** *1 new* [MaRS Investment Accelerator Fund](https://millionrounds.com/fund/mars-investment-accelerator-fund) From a historical funding record - **Jan 2010** Venture **$1.5M** No investor was named in the report. Reported by sec.gov SEC filing: $1.5M sold, first sale Oct 2009 ## Founders and team From Top Hat's own website: 7 on the team. - **Maggie Leen** Chief Executive Officer - **Bradley Cohen** Chief Academic Officer - **Hong Bui** Chief Product Officer - **Larry Indovina** Chief Operating Officer - **Les Cullen** Chief Financial Officer - **Bill Okun** Executive Chairman - **Donna Battista** Team ## 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. **Venture** 2010 **Seed** 2011 **Series A** 2012 **Venture** 2013 **Series B** 2014 **Series C** 2017 **Round** 2017 **Round** 2019 [Inovia Capital](https://millionrounds.com/fund/inovia-capital) [Felicis](https://millionrounds.com/fund/felicis-ventures) [Emergence](https://millionrounds.com/fund/emergence-capital-partners) [Georgian](https://millionrounds.com/fund/georgian) [Version One Ventures](https://millionrounds.com/fund/version-one) [Golden Venture Partners](https://millionrounds.com/fund/golden-venture-partners) [Union Square Ventures](https://millionrounds.com/fund/union-square-ventures) [Uncork Capital](https://millionrounds.com/fund/uncork-capital) [Softtech VC](https://millionrounds.com/fund/softtech-vc) [MaRS Investment Accelerator Fund](https://millionrounds.com/fund/mars-investment-accelerator-fund) ## Everyone who backed them [Inovia Capital](https://millionrounds.com/fund/inovia-capital) VC firm **3** rounds [Felicis](https://millionrounds.com/fund/felicis-ventures) VC firm **2** rounds [Emergence](https://millionrounds.com/fund/emergence-capital-partners) VC firm **2** rounds [Georgian](https://millionrounds.com/fund/georgian) VC firm **2** rounds [Version One Ventures](https://millionrounds.com/fund/version-one) VC firm **2** rounds [Golden Venture Partners](https://millionrounds.com/fund/golden-venture-partners) VC firm **2** rounds [Union Square Ventures](https://millionrounds.com/fund/union-square-ventures) VC firm **1** round [Uncork Capital](https://millionrounds.com/fund/uncork-capital) VC firm **1** round [Softtech VC](https://millionrounds.com/fund/softtech-vc) VC firm **1** round [MaRS Investment Accelerator Fund](https://millionrounds.com/fund/mars-investment-accelerator-fund) VC firm **1** round [Emergence](https://millionrounds.com/fund/emergence) Growth equity **1** round [Version One](https://millionrounds.com/fund/version-one-2) VC firm **1** round [Leaders Fund](https://millionrounds.com/fund/leaders-fund) VC firm **1** round [Golden](https://millionrounds.com/fund/golden) Hedge fund **1** round SoftTech no record of our own yet **1** round Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=top-hat). ## 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 Partners](https://millionrounds.com/fund/recurring-capital-partners) Private credit Per its own site [Ripple Capital](https://millionrounds.com/fund/ripple-capital) Family office Per 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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