Battery Ventures, a San Francisco, CA-based technology-focused funding agency, acquired TrueContext, fka ProntoForms, an Ottawa, Canada-based in field-services, workflow-automation firm.
The quantity of the deal was not disclosed. Chelsea Stoner, a Battery basic accomplice, and Principal Dillon Joyce, joined TrueContext’s board.
With the funding, the corporate will speed up additional development and improve concentrate on clients. Along with the deal, TrueContext was formally delisted from the TSX Enterprise Trade after Battery acquired all the issued and excellent widespread shares of the corporate at a worth of C$1.07 per share, valuing TrueContext at roughly C$150M.
Based in 2001 by Alvaro Pombo, CEO and founder, TrueContext supplies a cell software program platform to assist field-service employees do their jobs effectively. The software program permits distant employees and technicians to gather and entry information within the area, together with notes, footage and geolocation information—after which share the data with different firm programs, together with ERP and CRM software program, in addition to regulatory our bodies. Use instances for the software program embody asset inspection; set up; restore; upkeep; and compliance with environmental, well being and security laws.
The answer is utilized by over 1,500 enterprise organizations globally throughout numerous industries, in high-complexity environments, equivalent to medical, oil and gasoline, and industrial tools, the place productiveness, security, and compliance are vital to stay aggressive.
FinSMEs
20/05/2024
