IDEABOOST Cohort 5 Startup MadLipz Closes First Round of Financing

IDEABOOST Cohort 5 Startup MadLipz Closes First Round of Financing

Toronto (August 15, 2018) – The Canadian Film Centre (CFC) and CFC Media Lab are pleased to announce that MadLipz, a startup from IDEABOOST Accelerator Cohort 5 in 2016, has closed its first round of financing, secured from a small group of New York City-based angel investors and the CFC.

MadLipz is a social platform where users create instant voiceovers, share them with the world, and interact with their fans. In February, MadLipz launched its social platform on Android and iOS, propelling its performance. Over the past year, MadLipz skyrocketed to its place as the #1 entertainment app in 62 countries (iOS) and 21 countries (Android), and to the Top 10 entertainment app in 108 countries (iOS) and 53 countries (Android). In terms of metrics to date, MadLipz boasts 27M Lifetime Users, 320K DAUs and 4.5M MAUs. The company is presently executing on an ambitious monetization strategy.

IDEABOOST is a Toronto-based business accelerator and startup community for companies that are building the next generation of technology-based media and entertainment products, services, and brands. An initiative of the Canadian Film Centre’s Media Lab, in partnership with Corus Entertainment, IDEABOOST provides high–potential Canadian startups with seed investment, mentorship, and access to its network.

Social Media:
Canadian Film Centre: @cfccreates.com | facebook.com/cfccreates| cfccreates
CFC Media Lab: @cfcmedialab | facebook.com/cfcmedialab | cfcmedialab

About CFC The Canadian Film Centre (CFC), celebrating 30 years, is a charitable cultural organization that supports, develops and accelerates the content, careers and companies of Canadian creative and entrepreneurial talent in the screen-based and digital industries. Its uniquely designed programs and initiatives span film, television, screen acting, screen composing and songwriting, and innovative work in the digital media and entertainment technology industries, all of which continue to push boundaries and generate world-class content, products and companies for the global marketplace. cfccreates.com

About CFC Media Lab
The Canadian Film Centre’s Media Lab (CFC Media Lab) is an internationally acclaimed digital media think tank and award-winning production facility. It provides a unique research, training and production environment for digital media content developers and practitioners, as well as acceleration programs and services for digital entertainment start-ups and related SMEs. Program participants have emerged as leaders in the world of digital media, producing groundbreaking projects and innovative, sustainable companies for the digital and virtual age. CFC Media Lab is funded in part by a contribution of up to $4.76 million through the Federal Economic Development Agency for Southern Ontario. cfccreates.com/programs/media-lab and ideaboost.ca/

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For media inquiries, please contact:

Margaret DeRosia
Communications Specialist / Digital Writer and Editor, CFC
416.445.1446, X463
mderosia@cfccreates.com

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