Venture capital firm Diagram announced today that PasswordBox co-founders Dan Robichaud and Marc-Antoine Ross are joining the venture launchpad.
The serial entrepreneurs were behind a digital identity management software that was acquired by Intel in 2014. Robichaud is joining Montreal-based Diagram as a managing partner, while Ross will take on the role as chief innovation officer.
“As an entrepreneur who has had four exits, I wish there had been a platform like Diagram to support me as I launched and scaled my businesses,” said Robichaud. “Diagram’s model is one-of-a-kind and is structured to be extremely entrepreneur friendly by giving them the right infrastructure, support, ownership and capital to succeed.”
The pair will be leading new venture creation at Diagram, a firm that supports Canadian-based early stage tech companies in financial services, insurance and healthcare to have a global impact.
“It’s an honour to have Dan and Marc-Antoine joining us at Diagram. Their passion for building great products, combined with their focus on fast, data-driven iteration will be invaluable as we build our next wave of ventures,” said Francois Lafortune, founder and CEO of Diagram.
The Montreal firm also announced they closed an additional $5 million funding round with new investors including Andreessen Horowitz partner Angela Strange, Lightspeed CEO Dax Dasilva, Panache Ventures managing partner Mike Cegelski and Rogers CEO Joe Natale. Their investment brings Diagram’s total committed capital to $30 million.
Diagram said in the release that the firm is doubling down on its unique strategy of concentrated investments, hands-on approach to venture creation, and privileged support from Portag3 Ventures LP and a group of over 50 angel investors.
“The early success of Diagram and its first two companies, Collage and Dialogue, is clear evidence that their team of builders and operators are onto something. I’m confident their unique approach to building companies will result in the creation of the next global leaders based in Canada,” said Paul Desmarais III, executive chairman of Portag3 Ventures LP.
In February, Diagram invested $5 million in Toronto-based Collage, an HR and benefits management platform for businesses.