The company’s co-founders Mike Stern and Damian McCabe, saw a growing demand for “connected experiences” across multiple platforms and devices. To that end, in 2014, they launched Connected Lab, a company that specializes in building software for connected devices such as homes, connected cars and wearables.
“We exist to design and build great connected experiences for ambitious brands on these new connected platforms,” said Ally Contardi, Director, Finance & Operations at Connected Lab.
The company’s customers include some of the largest in the consumer electronics industry, as well as financial services companies and media conglomerates.
Stern, who is CEO, helped run the sales operations for Xtreme Labs and McCabe was one of the lead product managers. Both had valuable experience in software development and also in selling digital products. The company grew quickly to more than 400 employees in just five years. They’re hoping for similar growth with Connected Lab.
“We’re already over 50 employees in just over a year and we’re targeted to be at over 100 by the end of 2016,” Contardi said. “And we’ve recently signed a few really large deals with strategic brands in the U.S.”
From the get-go, Connected Lab has been an international company and today roughly 80 per cent of its customers come from the U.S., the other 20 per cent are Canadian.
The company has used Export Development Canada to mitigate some of its risk when it comes to international Accounts Receivables.
“It provides reassurance to us that we can continue to work with some ambitious start-ups without having to worry about them defaulting on payments,” Contardi said. “It’s one stress off our plate. It takes away some of that administrative burden so we can just focus on building great software.”