A company launched by four Waterloo Engineering classmates in a living room “with old computers and no salaries” has secured $20 million in funding for product innovations and to accelerate growth.
Based in Toronto, Nulogy was founded by friends Jason Tham, Sean Kirby, Kevin Wong and Jason Yuen (all BASc ’02, systems design engineering) to provide supply chain software and support.
More than 100 companies in over 20 countries now use its cloud-based supply chain platform and solutions. Clients include suppliers and consumer goods brands and manufacturers that work with them.
The new backing came from Export Development Canada, a financial Crown corporation that helps Canadian businesses, and a Canadian bank.
“As a provider of multi-enterprise solutions, the larger the number of users of our network, the greater the value for all users – so we’re excited about the value this brings to our community of customers,” Jason Tham, the CEO of Nulogy, said in a media release.
The founders were recognized by Waterloo Engineering with a Team Alumni Achievement Medal in 2017.