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§ Private Profile · Toronto, Canada
Online marketing technology company offering search retargeting and programmatic display advertising for internet retailers.
Based in Toronto, Ontario, Canada, Chango was an online marketing technology company that specialized in search retargeting and programmatic advertising. The platform utilized anonymous cookies and a demand-side platform across various ad networks to serve display advertisements based on recent search activity. This approach allowed the firm to secure 75 of the top 500 internet retailers as active clients by the first quarter of 2013. The enterprise raised multiple venture capital rounds, including a $1.4 million Series A and a $12 million financing round backed by institutional investors such as iNovia Capital, Rho Canada, and Metamorphic Ventures. After scaling to 175 employees and achieving 69,800% growth in 2014, the business was acquired by Rubicon Project for $122 million in 2015 before shutting down in 2017. Chango was founded in 2008 by Chris Sukornyk, Mazdak Rezvan, and Dax Hamman.
Chango has raised $32.9M across 7 funding rounds.
Chango has raised $32.9M in total across 7 funding rounds.
Chango has raised $32.9M across 7 funding rounds. Most recently, it raised $2.1M Seed in March 2023.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Mar 14, 2023 | $2.1M Seed | Corporate Startup Studio 321, VIA ID | — | Announced |
| Nov 21, 2012 | $12M Venture Round | — | Extreme Venture Partners, Inovia Capital, Duncan Hill, Metamorphic Ventures, Roger Chabra | Announced |
| Nov 1, 2012 | $12M Series U | — | Golden Gate Ventures, Greycroft, Inovia Capital, Laconia Capital Group, Extreme Venture Partners, Mantella Venture Partners, Metamorphic Ventures, RHO Ventures | Announced |
| Oct 7, 2011 | $980K Debt Financing | FedDev Ontario | — | Announced |
| Jan 1, 2011 | $4M Series B | Roger Chabra | Golden Gate Ventures, Greycroft, Inovia Capital, Laconia Capital Group | Announced |
| Jun 1, 2010 | $1M Series A | Lewis Gersh | Golden Gate Ventures, Greycroft, Inovia Capital, Laconia Capital Group, Geoff Judge | Announced |
| Oct 21, 2009 | $750K Series A | Inovia Capital | Extreme Venture Partners | Announced |
Chango Intelligent Technology (Guangdong) Co., Ltd. is a Chinese technology company specializing in ultrasonic technology and intelligent automation equipment.[1][3] Founded in 1996 (with some sources noting formal establishment in 2003), it develops and manufactures customized solutions like flexible production lines, workstations, special-purpose machines, and ultrasonic systems for welding, cleaning, cutting, and testing, primarily serving the automotive industry but expanding into medical, electronics, textiles, and appliances.[1][3] Its products support major auto brands including Mercedes-Benz, BMW, Tesla, NIO, and BYD, with exports to Germany, USA, and others; the company was recognized as a top 100 enterprise in Dongguan in 2020.[1]
Chango solves challenges in precision manufacturing by integrating automation with ultrasonic tech, enabling flexible, high-efficiency production for complex parts like bumpers and instrument panels.[1][3] It targets OEMs and suppliers such as Faurecia and Yanfeng, delivering growth through global reach, industry-university partnerships, and innovations like 2XYZ/4XYZ flexible machines and robot workstations.[1][5]
(Note: A separate, now-defunct Canadian adtech firm named Chango, acquired in 2015 and closed in 2017, exists but does not match the active technology company profile.[2][4])
Chango Intelligent Technology was established in 1996 in Dongguan, China, as a provider of ultrasonic technology solutions, with some records citing 2003 as a key formalization year.[1][3] Its founders leveraged early expertise in ultrasonics to build systems for welding and automation, evolving from basic applications to full intelligent manufacturing.[3] Pivotal moments include deep involvement in automotive flexible production by the 2010s, launching specialized lines for interiors/exteriors, and expansion into medical ultrasonics.[1]
The company grew through multi-year R&D accumulation, establishing a Shanghai branch, a German subsidiary, and a global service network.[3] In 2020, it earned top 100 status in Dongguan, and by 2022, it partnered with the Advanced Institute of Science and Technology for an intelligent manufacturing R&D center, signing agreements to co-develop flexible lines and workstations.[5] This evolution reflects a shift from core ultrasonic tech to comprehensive automation, sustaining 26+ years of industry leadership.[5]
Chango rides the wave of Industry 4.0 and smart manufacturing, particularly in electric vehicles (EVs) and flexible automation amid global supply chain shifts.[1] Timing aligns with China's push for high-end manufacturing and auto export growth, where ultrasonic tech enables lightweight, precise assembly for EVs like Tesla and NIO—critical as auto production demands adaptability to model variants.[1][3]
Market forces favoring Chango include rising EV adoption, labor shortages driving automation, and post-pandemic localization trends benefiting Dongguan hubs.[3] It influences the ecosystem by exporting to Europe/USA, partnering with global OEMs, and fostering R&D alliances, helping suppliers like Yanfeng scale efficiently while advancing China's tech self-reliance.[1][5]
Chango is poised to expand in EV and medical automation, leveraging its flexible tech for next-gen mobility and health devices amid global electrification trends.[1][3] Expect deeper AI-robotics integration and more international subsidiaries, shaped by sustainability demands and U.S.-China tech dynamics.[5] Its influence may grow as a bridge between Asian manufacturing prowess and Western OEMs, solidifying its role in precision tech evolution—echoing its origins as an ultrasonic pioneer now powering tomorrow's factories.
Chango has raised $32.9M in total across 7 funding rounds.
Chango's investors include Corporate Startup Studio 321, Via-ID, Extreme Venture Partners, Inovia Capital, Duncan Hill, Metamorphic Ventures, Roger Chabra, Golden Gate Ventures, Greycroft, iNovia Capital, Laconia Capital Group, Mantella Venture Partners.