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Vancouver, B.C.-based startup Opal raised a $1.5 million pre-seed round led by Seattle venture firm Founders’ Co-op and Exit North Ventures. Axios first reported the funding.
Founded last year, Opal automates back-office tasks for ad agencies. Its software handles contracts, e-signatures, accounts receivable, and ad spending. The company also offers credit cards to be used for specific merchants or use cases.
The startup is led by Alex Steele, who previously founded media buying agency Easy Agency.
Other investors include Ian Crosby, who previously co-founded and led bookkeeping service Bench.
