Toronto-based has filed for bankruptcy, BetaKit has learned. The digital product sampling startup filed an assignment of bankruptcy on June 27 and held its first meeting of creditors on July 22, according to documents BetaKit obtained from Canada’s Office of the Superintendent of Bankruptcy. At the date of filing, Sampler had total liabilities of $12.
9 million and total assets of more than $300,000. A representative of the Ontario Superior Court of Justice told BetaKit that no additional documents have yet been filed with the court. The company told BetaKit last year that its revenues exceeded $10 million CAD annually, with Sampler set to break even in 2023.
Sampler CEO and founder Marie Chevrier declined BetaKit’s request for comment on the current state of the company and the circumstances that led to the filing. BetaKit has sent multiple requests for all relevant documents to the insolvency trustee handling the proceedings, Steven Goldberg of Rosen Goldberg, Inc. Sampler matches packaged goods companies with consumers who receive packages of free samples by mail.
The online platform allowed Sampler to collect targeted marketing data on products consumers used. In February , the company raised a $3-million Series A led by BDC’s Women in Tech fund, Shipfusion, and an undisclosed strategic investor, Factory LLC and Standup Ventures also participated in the round, along with follow-on funding from Freycinet Ventures and MaRS IAF. A few months later, CIBC $1 million in de.