May 8, 2020

Dryrun completes seed round led by Accelerate Fund II

A picture to accompany an article on Edmonton-based company DryRun

Simplifying cash flow with SaaS

Dryrun is a software-as-a-service (SaaS) cash flow management tool that pairs automated and intelligent forecasts with unmatched flexibility to model scenarios. Taking complex cash flows and simplifying them for organizations of all sizes, Dryrun’s software can save companies hours or even days worth of effort to generate critical cash flow forecasting data.

Dryrun gives management an unmatched ability to model multiple cash flow scenarios and adjust as necessary, resulting in a more informed and agile management team who are able to make better decisions.

Alberta Innovates funding and support

With the support of their technology development advisor, Dryrun leveraged Alberta Innovate’s non-dilutive funding to accelerate their growth with a Voucher in 2012 followed by two Commercialization Associate grants; funding which enables Alberta-based companies to bring high-quality talent into their teams by covering a portion of salary.

Dryrun’s first Commercialization Associate assisted with the initial build of a commercialized version of their product, which helped get the product off the ground.

“We’re thrilled to have our Director of Development (Jeremy Burke). He was a leading salesman with Intuit and is a real home run for us,” says Blaine Bertsch, CEO of Dryrun on the impact of the Commercialization Associate program “To bring in people with this level of experience completely transforms the business.”

Support for raising capital

Blaine worked closely with a team of advisors from Sprout Fund (an early investor in Dryrun), the Alberta Innovates Executive Business Advisor (EBA) Program, angel investors, and Arden Tse from Accelerate Fund II to complete the seed round.

Blaine says of the supports he received to complete Dryrun’s most recent round: “Mark Benning and Shaheel Hooda of Sprout Fund made a ton of investor introductions and provided great advice as we moved through the raising process. They were really instrumental in helping us complete this round. The support we received through Jeremy Gilman as part of Alberta Innovates’ EBA program was also essential for us. Putting this round together with a VC lead and Angels was complicated, and Jeremy was very helpful through it all. There was so much to learn, and Jeremy walked us through the structure of the round, how to look at the valuation of the company, different options for structuring the deal and putting together a cap table that makes sense. He made introductions and provided guidance on how to talk to and pitch to investors. You have all of these terms you need to understand, and now you have someone who walks you through all of those terms and helps explain and give insights. I can’t say enough about Jeremy and the Sprout Fund team.”

This new injection of funds will allow Dryrun to further expand its modeling and advanced decision support capabilities to better serve decision-makers and to expand its sales team to support rapid scaling.


Alberta Innovates Executive Business Advisor, Jeremy Gilman

Jeremy is the co-founder of PlaceHolder, an online marketplace enabling companies to monetize their unused office space. Prior to founding Placeholder, Jeremy worked as the Principal of McRock Capital, an IIoT focused venture firm. Prior to McRock, Jeremy worked in a similar capacity at a leading energy-focused private equity firm based in Calgary.

Alberta Innovates Executive Business Advisor Program

The Executive Business Advisor Program supports high potential, high growth firms that are anticipated to generate jobs, exports, and diversification for the Alberta economy. The program accelerates the growth of companies through network development, coaching, and access to capital to help them to scale rapidly.