Deck Secures $12 Million Series A Funding Round
In a significant boost to its mission, Deck, a Montreal-based startup, has announced the closure of a $12 million Series A funding round, led by Infinity Ventures. This news comes just nine months after securing seed funding, bringing the company’s total funding to $16.5 million since its inception in January 2024. The company aims to revolutionize how users interact with their online data, often comparing its service to Plaid, a pioneer in user-permissioned bank data access.
Company Mission and Value Proposition
Deck is paving the way for user-permissioned data infrastructure on the internet. It allows users to connect their online accounts, transforming that information into structured, usable data. This process occurs with full user consent and aims to tackle the issue of data being locked behind usernames and complex portals.
Founding and Vision
The startup was founded by Frederick Lavoie, Yves-Gabriel Leboeuf, and Bruno Lambert in June 2024. The trio previously collaborated on Flinks, which the National Bank of Canada acquired in 2021. Their experience in fintech paved the way for Deck, especially after discovering how fragmented and inaccessible data was outside the financial sector.
Deck operates under the principle that users have a wealth of valuable data locked in platforms without existing APIs. CEO Yves-Gabriel Leboeuf stated, “Just like Plaid gave developers an easy way to access bank data, Deck does the same for platforms without APIs, such as utility portals and e-commerce systems.”
Technological Approach
Deck’s infrastructure uses AI agents to navigate and extract website data as a human would, but more efficiently. Once a connection is established, reusable scripts maintain live connections without further AI intervention. This technology aims to simplify the process for developers who need access to user data without extensive manual effort.
Rapid Growth and Clientele
The platform has experienced rapid growth, with the number of developers utilizing Deck steadily increasing. In February alone, connections made through Deck’s platform rose by over 120%. Deck charges clients based on successful API calls, ensuring they only pay when the data functions correctly.
Currently, Deck collaborates with utility companies and over 100,000 utility providers across North America, Europe, and Asia. Its clients include EnergyCAP, Quadient, and Greenly. Moreover, the company is expanding into non-utility sectors with clients like Notes.fm and Evive Smoothies, believing that its technology addresses any industry with “trapped” data.
Future Plans
Deck plans to launch a data vertical creator soon, enabling developers to quickly initiate any data verticals across various industries. With 30 employees, Deck is poised to continue transforming the user-permissioned data sector, much like open banking reshaped financial data.
Infinity Ventures’ co-founder and managing partner, Jeremy Jonker, has joined Deck’s board following the Series A financing. Jonker commented, “Deck is transforming user-permissioned data, delivering speed, reliability, and adaptability across sectors.”
Additional participation in the funding round came from Intact Ventures, Better Tomorrow Ventures, Golden, and Luge Capital. As Deck continues to grow and innovate, the company remains committed to advancing secure, user-permissioned data access across industries.
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