CBGF invested in Connected, a leading product development services firm headquartered in Toronto, Ontario in June 2021. The company began its operations in 2014, offering end-to-end software product development services including research, design, strategy, and development. Connected continued to invest in its team and services, working with leading product companies, including both NASDAQ 10 and Fortune 50 companies, to help them discover, validate, and develop impactful software-powered products.
Led by Mike Stern, Co-Founder and CEO, and joined by Tammy Chiasson, President, the Connected team had a clear vision for growth.
In April 2022, Connected was acquired by Thoughtworks Holdings, Inc. (NASDAQ: TWKS) a global technology consultancy. CBGF supported Management’s decision to partner with Thoughtworks at this time. Since our initial investment, Connected executed on its growth strategy, rapidly growing revenues by 30% and expanding its team. During our partnership, Connected was able to improve client retention up to 100% year over year and diversify its client base across the US and Canada. Connected management will join Thoughtworks as leaders of the Canadian market.