April 4, 2023 – Ottawa, ON – Invest Ottawa is thrilled to announce its tenth graduate from the IO Accelerator, Trualta. The program, now in its fifth year, is designed to use a phased and milestone-based approach to help entrepreneurs grow and scale on their Venture Path.
Trualta, a personalized, skills-based e-learning platform focused on helping families manage the care for aging loved ones living at home, is the most recent successful graduate from the flagship program.
“It has been such a fabulous experience witnessing Trualta’s growth throughout the IO Accelerator,” said Megan Maltby, Manager, Accelerator Programs and Investor Relations at Invest Ottawa. “We admire CEO and Founder Jonathan Davis’ respectful, thoughtful, and hardworking approach, and the entire team’s willingness to give back and collaborate with other members of the Ottawa startup community.”
Trualta, an e-learning health-tech company, was founded in 2017 and joined the IO Accelerator in 2018. Soon after, Trualta hired its first full-time employee (FTE), who is still at the company today, and now has more than 34 FTEs. Throughout most of their time in the Accelerator Trualta was bootstrapped but the team eventually raised equity funding from a US-based family office in late 2021.
“The IO Accelerator has provided an incredible community as we’ve launched and scaled Trualta, said Jonathan Davis, CEO and Founder. “Whether it’s been connecting with other founders, or getting advice from mentors & advisors, the experience has been invaluable. We’ve connected with so many other startups, funders and investors through the Accelerator, which has enabled us to grow very quickly.”
With the goal of being the market leader in family caregiver education, Trualta is achieving just that by partnering with state and local government, health insurers and health care providers across the U.S. They continue to prove that trained, confident family caregivers can improve health outcomes and reduce the cost of care. Today, Trualta partners with local & state government, health plans and healthcare providers in 32 states.
“The big push this year is expanding our capabilities from educational content to community features like support groups, a chat room and care coaching,” said Davis. “As we enter IO ScaleUp, we’re expanding our sales and marketing footprint to reach a wider segment of the healthcare industry including managed care organizations, health plans, and health systems.”
Trualta officially graduated this evening at the IO Accelerator Graduation Party where community members came together to celebrate all 10 graduates from the program since 2018. In total, these 10 incredible companies have created more than 643 jobs and raised more than $365 million in capital. On top of that, a number of them have been recognized on lists such as The Globe & Mail’s Canada’s Top Growing Companies, the Ottawa Business Journal’s Fastest Growing Companies, Top Places to Work in Ottawa, and some have even made an appearance on CBC’s Dragon’s Den.
“Externally, Trualta is also making a positive difference in the lives of family caregivers and their loved ones – giving caregivers the confidence to deliver quality care at home,” Maltby explained. “In short, the Trualta team makes the Invest Ottawa network, and our world, a better place and we look forward to continue to support the team as they join IO ScaleUp.”
About IO Accelerator
The IO Accelerator is designed to rapidly and systematically accelerate the development and commercial success of high growth technology startups. In a phased and milestone-based approach, founders push themselves over 12 to 18 months to create a scalable and globally competitive technology company. Companies receive 10 hours of advisory services per month from experts in a variety of management fields, guidance and introductions to investors, curated market research, as well as access to the IO Accelerator co-working space and startup community and Bayview Yards operated by Invest Ottawa. The IO Accelerator has seen ten graduates since 2018: Rewind, Knak, Relogix, Rvezy, GoFor, Noibu, Growcer, Fellow, Spiderwort, and Trualta.
About IO ScaleUp
Designed for high-potential product-based technology firms, IO ScaleUp provides advisory services, networks and programming to help overcome three key challenges to rapid growth and market success – customers, revenue and talent. The platform is jointly delivered by Invest Ottawa, Communitech, and MaRs Discovery District to help scale-up firms rapidly scale revenues or teams and increase their potential of becoming $100 million companies.
Trualta’s online learning platform supports families managing care for loved ones at home by offering on-demand, personalized, skills-based training. In partnership with innovative healthcare payers, providers, and government and social service organizations, Trualta improves care at a lower cost. Currently available in 31 states, Trualta’s evidence-based offering is proving that trained, confident family caregivers can improve health outcomes and reduce costs.