Newfoundland tech company Celtx continues global growth despite slim odds

When Mark Kennedy started telling people about his new St. John’s-based software-as-a-service company in 2000, they told him he had lost his mind.

Celtx is a cloud-based software that lets production teams digitally collaborate on nearly every step of the preproduction process, and it now has active subscribers in 167 countries. Mr. Kennedy believes Celtx’s growth and recent sale could help other technology companies in Newfoundland and Labrador looking to attract investment.

“There’s a really nice ecosystem that’s being established here in Newfoundland, with some really successful technology companies,” Mr. Kennedy said. This has attracted more capital to the area, in turn facilitating the creation of more startups. Executives began by targeting schools around the globe, as they figured students would be more open-minded to an innovative approach at preproduction. Many schools use Celtx in their media programs, for video projects and assignments, he said. Lots of students also use the software for their own passion projects, he said, writing screenplays and stage plays with a small team.

Ben Kaplan, Backlight’s CEO, met with Mr. Kennedy before Backlight’s investment thesis was developed. Once Backlight decided to focus on optimizing media creation, from ideation through to monetization, Mr. Kaplan realized Celtx could be a key part of his company’s approach.Despite the acquisition, Mr. Kennedy and the current Celtx team are staying in place.

Source: News Formal (newsformal.com)

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