Alteon.io Announces Canadian Expansion, Bullish on Toronto’s Tech and Creative Sectors

Toronto, ON – May 11, 2023 – Alteon.io, a comprehensive cloud-based platform that streamlines creative workflows for content creators of all backgrounds, is expanding into Toronto, Canada. The U.S.-based startup is looking to hire front-end and back-end engineers, project managers and QA specialists to build out their comprehensive, future-proof collaborative platform, now used around the world by thousands of freelancers, contractors, production companies and in-house brands. They will be hosting a recruitment mixer at Pauper’s Pub in downtown Toronto on the evening of May 18.
 
The announcement comes shortly after Alteon won 2023 Product of the Year and TV Tech Best of Show awards at the annual National Association of Broadcasters (NAB) conference in Las Vegas, the largest annual event in the domestic media and broadcast industry. Before that, buoyed by Alteon’s Q1 surge in the media landscape, Alteon’s parent company, Third Summit, received $2.75 million of their $4.5-million seed funding from investment group Florida Innovation Capital.
 
Alteon’s leadership is choosing Toronto to establish its first formal presence outside of the United States, despite waves of layoffs hitting the Canadian tech sector. In 2023 to date, more than 6,600 Canadian employees have been let go by 108 companies, including homegrown giants such as Shopify, Wealthsimple, Ritual, FreshBooks, Unbounce and Hootsuite, which are now returning to leaner staffing models after artificially ballooning during the pandemic. Shielded by a business model designed to weather economic storms, Alteon sees this tech sector crater as a bullish opportunity to attract world-class talent, allowing employees to primarily work from home with regular in-person gatherings.
 
“We examined multiple cities and agreed Toronto is the best option given the area’s strong support of business development, the high quality of workers and the city’s status as a cultural capital,” said Matt Cimaglia, co-founder and CEO of Alteon. “As we continue to scale up our product with an aggressive roadmap, we look forward to establishing and in the near future expanding Alteon in Canada.”
 
In addition to hiring top tech talent, Alteon will leverage its expansion to make inroads in the cross-border creative community, helping international film and TV productions collaborate more easily and efficiently in the current era of increased remote work.
 
In March 2022, the City of Toronto announced its local production industry broke new records, achieving more than CAD$2.5 billion in direct spending in 2021. Significant recent industry investments have followed: Netflix launched its first Canadian office in Toronto in April 2023, and Pinewood Toronto Studios, a massive studio complex in the Port Lands district, recently began a multi-stage expansion to add 200,000 square feet of filming space. Later this year, construction is set to begin on the Basin Media Hub, a $250-million, 636,000-square-foot film hub for film, TV and digital media.
 
In its expansion, Alteon worked closely with Toronto Global, a team of experienced business advisors assisting global businesses to expand to the Toronto Region. “Toronto is a world-class city for film and TV production, employing over 30,000 people across the Toronto Region. We are so excited to see that community continue to grow rapidly,” said Stephen Lund, CEO of Toronto Global. “Alteon.io understands the trends in this market and we are proud to support them in their mission of democratizing the creative industry through innovation and technology.”
 
Cimaglia, himself a 20-year veteran of the production world, visited Toronto on April 30 as part of the Hot Docs film festival, of which Alteon is an industry partner.
 
About Alteon.io
Alteon.io is democratizing the media industry by creating professional-grade tools that are accessible to all. By empowering content creators of all backgrounds with a fully streamlined workflow that lets them upload, share, collaborate, review and store projects within a single platform, Alteon can cut production time from days to minutes. Alteon is a subsidiary of Third Summit. For more, visit alteon.io.
 
Press Contact:
Megan Linebarger
Publicist, Grithaus Agency
megan@grithaus.agency
 
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