Assertion Contradicted AI assessment confidence: 85% certainty 4/5 debate potential 1/5

The Better Software Company initially raised $9.8M in venture capital

Steve Cody · 1712 Investors put in $10m, He Left, Bought Back Company for Pennies on Dollar, How? · Apr 1, 2020 · at 8:15

Steve Cody is the founder of The Better Software Company. He discusses the company's fundraising history and growth trajectory.

0:00 / 0:02exact quote · 2.8s

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“We raised about 9.8 million through VCs.”

quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →

The claim, plainly

The Better Software Company raised about $9.8 million from venture capital investors.

a quote alone can be ambiguous, so this restates it with the references and context of the conversation around it resolved. AI-written; the tape below the player is the source.

Assessment

Steve Cody claimed that The Better Software Company raised about $9.8 million through venture capital investors. However, contemporary press releases, regional reporting (including the Ottawa Business Journal and BetaKit), and venture databases (including Preqin, Fundable, and GetLatka) track cumulative venture capital raised by the company between 2015 and its 2018 asset buyout at approximately $4.8 million to $5.0 million across four rounds. Because the verified total is roughly half of the stated amount—a difference well beyond minor estimation error—the claim is rated false.

November 2015 press releases confirmed a $1.35M seed extension bringing total seed financing to $2.1M CAD.
November 2016 Ottawa Business Journal report documented a $1.0M round bringing total funding raised over the preceding 12 months to nearly $5M.
Public database aggregations and contemporary reporting through April 2020 track total venture funding at approximately $4.8M to $5.0M CAD/USD, with no corroboration for a $9.8M total.

Checked against

[1] venturecapitaljournal.com [2] betakit.com [3] betakit.com [4] obj.ca [5] obj.ca [6] getlatka.com [7] getlatka.com [8] preqin.com

"The Better Software Company" "$9.8" OR "9.8 million" "The Better Software Company" funding OR raised OR "million" site:betakit.com The Better Software Company Steve Cody raised million "The Better Software Company" "Steve Cody" "million" "The Better Software Company" "Mistral" OR "ff Venture" OR "L-SPARK"

assessed as of 2026-09-02

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Mentioned

The Better Software Company Steve Cody

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VCs blocked Steve Cody from firing a leadership team executive

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“Yeah, they, yeah, they took a loss.”

Steve Cody Apr 1, 2020 ▶ 8:59 1712 Investors put in $10m, He Left, Bought Back Company for Pennies on Dollar, How?

Disclosure

The Better Software Company began as an internal operating tool

“And the software we had created was always our competitive advantage, and when we started looking for something in franchising, we couldn't find anything, so we said, well, let's just modify ours so that we can start franchising with it”

Steve Cody Apr 1, 2020 ▶ 3:42 1712 Investors put in $10m, He Left, Bought Back Company for Pennies on Dollar, How?

Disclosure

The Better Software Company charges $100 to $250 per location

“The price will range between a hundred per location to 250 per location, and what we've done is we allow a person to have unlimited users”

Steve Cody Apr 1, 2020 ▶ 5:34 1712 Investors put in $10m, He Left, Bought Back Company for Pennies on Dollar, How?

Assertion Not checkable as stated

The Better Software Company has scaled to 4,000 franchise locations

“We've got about 4000 on there right now.”

Steve Cody Apr 1, 2020 ▶ 7:09 1712 Investors put in $10m, He Left, Bought Back Company for Pennies on Dollar, How?

Assertion Not checkable as stated

The Better Software Company grew sales 55% after founder's buyback

“We've grown sales 55% since we took it back.”

Steve Cody Apr 1, 2020 ▶ 11:09 1712 Investors put in $10m, He Left, Bought Back Company for Pennies on Dollar, How?

The Better Software Company initially raised $9.8M in venture capital

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