The51 Portfolio Company, Fictionary, Secures $1.8M CAD in Seed Round
Fictionary secures a $1.8 M CAD Seed Round of financing to accelerate growth of creator economy platform.
Fictionary, a Canadian tech company, is revolutionizing the way writers and editors collaborate to create bestsellers.
November 29, 2022, Inverary, Ontario — Fictionary announced today the closing of their Seed round co-led by StandUp Ventures and BDC’s Thrive Venture Fund. The round also included participation from The51 and several angel investors.
Kristina Stanley, CEO of Fictionary shares, “we’re on a mission to change the way books are edited and help all writers become world-class storytellers. This capital enables Fictionary to grow our writer/editor community and enhance the AI capabilities of our SaaS-based story editing platform.”
Fictionary’s StoryTeller enables writers to visualize their Story Arc through an automatic analysis of several key story elements and see how their story compares on a number of measures to the fundamentals often present in the best stories. StoryCoach allows editors to provide better, deeper, story edits in half the time, increasing both quality and profitability of the editors services. Fictionary’s tools are being used by writers and editors from over 48 countries around the world.
Kristina, a bestselling fiction author herself, came up with the idea for Fictionary while sailing in the Caribbean and undergoing the complicated and difficult process of story editing her own novels.
Fictionary’s rapidly growing user base of customers is supported by a vibrant digital community of writers and editors managed by the Company. While writing and editing are typically thought of as lonely professions, the Fictionary community has changed that perception. Offering a place for writers and editors to connect, attend live training by a network of professional editors, and solicit feedback from peers the Fictionary community is rich with activity and opportunities for connection.
Fictionary’s technology has also caught the attention of the prestigious literary agency, Writers House, who are partnering with the Company to hold the “Fictionary Book of the Year Award”, for the best unpublished novel edited on the Fictionary platform.
With investment from well-known Canadian venture capital funds, Fictionary plans to substantially scale users of their product, further develop its platform, continue to invest in community growth, and provide more learning opportunities to help all writers become world-class storytellers.
“StandUp is excited to partner with Kristina and Mathew as they change the way books are written and edited,” says Lucas Perlman, Investor at StandUp Ventures and Fictionary Board Member. “The love for the product Fictionary users articulate so regularly is rare, and indicative of the power and impact the tool brings to its customers. The self-publishing world has exploded, and we believe Fictionary is poised to become a de-facto part of the story writing toolkit for writers and editors around the globe.”
‘’Fictionary’s SaaS-based, AI-powered platform is bringing some important and overdue workflow innovation for the writing and editing community, ‘’ adds Michelle Scarborough, Managing Partner, Thrive Venture Fund at BDC Capital. ‘’We’re thrilled to support this company in the creator economy space and believe this investment will push forward its ambitious product roadmap and accelerate its expansion into new market segments.’’
“Fictionary is a company well positioned to capitalize on the growing creator economy,” says The51 Co-founder and Chief Growth Officer, Shelley Kuipers. “With its scalable AI engine, Fictionary is innovating the writing and editing industries and democratizing the publishing process to output powerful stories. The51 is excited to invest given Fictionary’s strong indicators of product-market fit and highly qualified and passionate founders.”
Contact
For media inquiries, please contact:
Name: Kristina Stanley
Title: CEO
Email: helpful.editor@fictionary.co