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Online collaboration technology provider Octopz has just secured a $376M national retail venture capital fund investment from GrowthWorks Canadian Fund and Wallace Studios, who has previously invested in Octopz.com. The company which first launched at Web 2.0 Expo 2007 in San Francisco has receive some good buzz from other industry technology-based publications. Octopz was founded in Toronto by CEO Barry Fogarty and Paul Nykamp, CTO and provides an online platform for users to professionals to work together on various documents such as Microsoft Word documents and PowerPoint presentations, images, videos, audio, and Flash files. The tool also offers users the ability to mark up content and even view each other through Webcams, with their faces appearing on the screen

“In the short time since its launch, Octopz has had a high level of traction in the marketplace, winning prestigious awards from technology experts and enthusiastic praise from its customers,” said Tim Lee, Vice President, Investments with GrowthWorks. “We are proud of our investment in Octopz as we believe this company has the potential to become a leader in this market.”

The Octopz solutions is targeted at creative professionals in both SMB and Enterprise markets and currently being used by advertising agencies such as Cundari, also based in Toronto, Canada.

Categories: Deal Flow, For The Books