Hamilton-based Weever Apps has closed a $900,000 equity investment from Green Sky Capital, an exempt market dealer than invests in early-stage companies.
The funding comes from Green Sky Capital’s affiliated venture funds, which include Accelerator Funds I and II, and a syndicate of its President’s Club, a Toronto-based angel group that invests in deals sourced by Green Sky Capital. Green Sky Capital’s past investments include Wave, Limelight, and Pyrowave.
Weever Apps digitizes the paperwork often found on factory floors through its electronic forms, and process and inspection software. Some of its offerings include maintenance manager, which tracks machine safety concerns, and tracking employee work activity.
The company plans to use the funding to complete a business model transition from project-oriented revenue to a SaaS offering. Before this investment, the company secured an undisclosed round of angel funding.
“We are thrilled to have GreenSky Capital be our first institutional partner,” said Steve McBride, CEO of Weever. “Their experience building businesses from a technology and operational perspective will be of substantial value as we scale our company.”
“Steve has done an excellent job identifying a customer pain point and addressing it with simple, effective products–growing through their manufacturing know-how, responsiveness to customers, and referrals,” said Greg Stewart, principal at GreenSky Capital.
Image courtesy Pixabay.
