VerticalScope Holdings announced an approximately $6.1 million strategic investment in AltaML, a Canadian applied artificial intelligence company.
VerticalScope is a technology company that operates a cloud-based digital platform for online enthusiast communities. The company said applied AI is an important part of its next phase of growth.
The investment takes the form of an 18-month, interest-bearing, secured promissory note issued by AltaML to VerticalScope. AltaML also issued a five-year warrant exercisable by VerticalScope for preferred shares of AltaML, providing VerticalScope with equity participation in the company as additional consideration.
The investment builds on VerticalScope’s existing relationship with AltaML. VerticalScope previously engaged AltaML as an enterprise client to deploy applied AI across its platform and operations.
AltaML was founded in 2018 and is headquartered in Edmonton, Alberta. The company delivers production-grade agentic workflows, large-language-model integrations, and automation solutions for government and enterprise clients.
AltaML serves sectors including energy, legal, technology, financial services, public sector, construction, and commercial markets. Its model uses forward-deployed engineering, embedding technical AI specialists directly with client teams.
AltaML is also the developer of AltaForge, a proprietary agentic-AI platform purpose-built for enterprise deployment. The platform is designed to support agentic workflows, LLM integrations, and automation outcomes at scale.
AltaML intends to use the proceeds from VerticalScope’s investment to refinance existing convertible notes. The company also plans to use the capital for working capital and continued investment in its AltaForge platform and go-to-market activities.
The transaction includes a related-party element. Cory Janssen, CEO of AltaML, is a member of VerticalScope’s Board of Directors.
VerticalScope said Janssen declared a conflict of interest and did not participate in the Board’s review or approval of the investment. Under Multilateral Instrument 61-101, the transaction is considered a related party transaction, though VerticalScope was exempt from requirements to obtain a formal valuation or minority shareholder approval.
Founded in 1999 and headquartered in Toronto, VerticalScope operates a portfolio of more than 1,200 online communities. The company said its platform reaches approximately 90 million monthly active users across high consumer spending categories.
KEY QUOTES:
“Applied AI is an important part of how we are building VerticalScope for its next phase of growth. We have worked with AltaML as an enterprise client, and this investment deepens that relationship as we apply AI across our communities and operations.”
Chris Goodridge, CEO of VerticalScope
“We are pleased to welcome VerticalScope as an investor. This financing supports continued investment in our AltaForge platform and our enterprise and government growth.”
Cory Janssen, Co-Founder and CEO of AltaML
