Joey deVilla, Austin Hill, and I (here & here) have written about one of the best indicators of a strong startup community is the number of repeat entrepreneurs and the number of successful follow on/spinout companies. It’s the “Fairchildren” principle that is one of the many complex factors attributed to the rise of Silicon Valley.
Workbrain agreed to be acquired back in April 2007 for $227M. This was one of the largest software acquisitions in recent history in Toronto, Platespin’s $205M acquisition by Novell being the other. It has been 2 years since the the announcement, and it appears that many of the Workbrain’s ex-founders and senior executives are starting to turn up running the next generation of Toronto startups poised for massive success.
Dayforce is an enterprise solution that enables companes to integrate performance with planning, scheduling and management of their workforce. The company’s management team is a mix of ex-Workbrain leadership (David Ossip, Paul Sandusky, Ozzie Goldschmied, Warren Perlman) and new blood (Bob Brooks &
John Orr[Note: Andrew Giblon comments John Orr was previously the VP Industry/Retails Solutions at Workbrain]). The company is building a world-class enterprise application. Dayforce launched on April 16, 2009, roughly 2 years after the Workbrain acquisition. There’s no data about the funding, but one would guess that David Ossip is able to bootstrap.
Rypple is a bottom up solution to collaborative performance management. It is a collaborative tool that enables employees and managers to request and give near real-time feedback about their performance. The team is also a mix of ex-Workbrain founders (Daniel Debow, David Stein, Tihomir Bajic, David Priemer) and new talent (George Babu, Ryan Dewsbury, Jay Goldman, and others). Rypple is funded by Peter Theil, EdgeStone Capital, Roger Martin, Seymour Schulich, and others. That’s some heavy valley hitters and some of Canada’s most respected busines individuals.
These are 2 very prominent Toronto-based startups that are poised to knock it out of the park (again). And it provides further proof, that one of the best training grounds for young entrepreneurs is to work in successful companies. By the way, both Dayforce and Rypple are hiring.
Are there other Workbrain children?