New funding, CEO

Distil Interactive Ltd. secures $1.5 million in the opening phase of its second round of venture funding. The Ottawa-based video-game business training products maker says it has secured the preliminary portion of a Series-B round from Distil.jpgGrowthWorks Canadian Fund in the form of a convertible debenture. “We are very pleased to have GrowthWorks Canadian Fund lead the follow-on round which will drive our commercialization efforts in the standards and certification, E-learning and knowledge management markets,” says new CEO Robert Thompson, who succeeds outgoing chief executive Jonathan Adair. Mr. Adair will stay with the company as chief operating officer. Distil previously tapped GrowthWorks for $2.9 million in Series-A funding.

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