Calgary-based Lightstrike, a startup specializing in application dependency management, has raised its first external funding round, a $1.1 million seed round.
Led by Sprout Fund II, the investment was supported by a US-based angel syndicate, including a founding member of Robinhood, Alberta family offices, and Weave VC.
Lightstrike, which operates at the intersection of artificial intelligence and enterprise risk management, helps companies uncover hidden risks within and between their applications. By providing insights into complex dependencies, Lightstrike enables businesses to prevent cascading failures that could otherwise disrupt operations.
“The exponential growth of AI is creating a surge in productivity and data volumes, making critical dependency management more essential than ever,” said Kristina Milke, Partner at Sprout Fund. “Lightstrike’s visualization solution delivers unparalleled clarity, establishing a new market sector in Application Dependency Management.”
Milke, who first collaborated with Lightstrike’s founders through the Alberta Innovates GrowthX Revenue Accelerator, expressed confidence in the company’s future. “We are thrilled to support such an experienced team with a vision to become a global leader in this space,” she added.
Lightstrike’s platform offers enterprises tools to understand, visualize, and prioritize application modernization strategies. Vernon Briggs, Lightstrike’s co-founder and CEO, highlighted the company’s mission to eliminate cascading failure events and provide stakeholders with precise control over their enterprise ecosystems. “We are excited to leverage the Sprout Fund team’s expertise, which extends well beyond financial support,” Briggs noted.
With growing traction among leading enterprises, Lightstrike plans to use the new funding to expand its presence across North America and onboard new large-scale customers.
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