Weever Apps, a Hamilton, Ontario-based workforce apps developer, has raised $1.625 million in financing.
The deal includes a $500,000 repayable contribution from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), as well as $1.125 million from private investors, among them MaRS Investment Accelerator Fund (IAF) and GreenSky Capital.
Founded in 2011, Weever Apps provides cloud-based software products that help organizations enhance workflow visibility and efficiency.
Led by CEO Steve McBride, Weever Apps will use the funds raised to commercialize Process Manager, a new solution designed for food and drug manufacturers, and reach new markets.
PRESS RELEASE
FedDev Ontario supports transformative business productivity software
$500,000-contribution to help software company commercialize new product, reach new markets and create five full-time skilled jobs
July 8, 2019 – Hamilton, Ontario
Innovation is changing traditional business operations and making processes quicker and more efficient, which is why the Government of Canada is supporting companies that provide transformative improvements to everyday routines.
Today, the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for FedDev Ontario, announced a FedDev Ontario contribution of up to $500,000 for Weever Apps to support commercialization of its newly launched Process Manager software.
Weever Apps is a digital transformation software company that offers a suite of products used by organizations in a range of sectors to build forms, collect data, assign and schedule tasks, manage workflows and track everything in real-time. These cloud-based applications reduce the need for paper, providing users with sustainable and environmentally friendly solutions to help make their organizations more efficient, productive and profitable.
The company recently launched Process Manager, a new solution to help food and drug manufacturers streamline processes in compliance with the U.S. Food and Drug Administration (FDA) and Canadian Food Inspection Agency (CFIA). Essentially, this new product is designed to help clients comply with regulations while saving time, energy and money. Through this project, Weever Apps expects to create five new full-time jobs in Hamilton.
This project aligns with the Government of Canada’s Economic Strategy Table on Digital Industries, which aims to foster digital innovation and excellence in Canada by increasing the number of high-growth firms to anchor Canada’s global leadership in this sector.
Quotes
“The Government of Canada is committed to supporting Canada’s scalable ICT firms, like Weever Apps, in the development and commercialization of their innovative technology to compete in new markets. Today’s investment is another example of how we can foster homegrown innovations.”
-The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for FedDev Ontario
“Weever Apps will be using the $1.5 million in additional investments from FedDev Ontario, GreenSky Capital and MaRS IAF to launch and build out our sales team for Process Manager, our latest compliance workflow automation software product. This cloud-based software includes innovative functionality, including audit trails and data integrity measures, which not only makes it a perfect solution for food and drug product quality, but it is also compliant with the Canadian Food Inspection Agency (CFIA), U.S. Food and Drug Administration (FDA) and European Medicines Agency (EMA).”
-Steve McBride, Chief Executive Officer, Weever Apps
Quick facts
Founded in 2011, Weever Apps has developed a suite of web applications that are used by clients such as Unilever, Kellogg’s, Georgia-Pacific, and Xerox, to manage workflows, view real-time activity, and enhance business operations, including maintenance, safety, quality, training and human resources.
In 2018, Unilever North America contracted Weever Apps to develop its configurable Process Manager software, which the corporation now uses to adhere to FDA requirements and to manage its batch quality records.
In addition to FedDev Ontario’s repayable contribution, Weever Apps will leverage an additional $1,125,000 in other investments, which includes $500,000 from MaRS Investment Accelerator Fund (IAF), and $500,000 from GreenSky Capital Inc.
Weever Apps previously received support through the Southern Ontario Fund for Investing in Innovation (SOFII), a third-party program funded by FedDev Ontario.
Associated links
FedDev Ontario
Weever Apps
Contacts
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fdo.mediarel-relmedias.fdo@canada.ca
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Website: www.FedDevOntario.gc.ca