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Yaletown Partners Announces Participation in Latest Financing by Portfolio Company ThoughtWire
Thursday, August 27, 2020Company Profile | Follow Company
Vancouver, BC, August 27, 2020--(T-Net)--Yaletown Partners announced that it has participated in ThoughtWire's recent $11.5 million financing. Other investors included BDC Capital, Canadian Business Growth Fund, Greensoil PropTech Ventures and EDC.
ThoughtWire will use this latest financing to further its mission of creating smarter built environments and to pursue international growth initiatives.
ThoughtWire has been a Yaletown portfolio company since 2018, when Yaletown led the company's $20-million Series A financing.
ThoughtWire's cutting edge technology has been widely recognized by analysts from prominent independent research and consulting firms, including Gartner and Verdantix.
Powered by Digital Twins, ThoughtWire's applications orchestrate data from people, process, IoT devices and the physical built environment to deliver smarter, safer and more efficient hospitals, commercial buildings and cities. ThoughtWire unlocks the value of data generated from built environments by leveraging artificial intelligence to predict behaviours, usages and trends, allowing actions to be taken autonomously.
"Digital Twin Technology is a key component to the rapid changes brought by the digitization of traditional industry, transformations driven by IIoT and AI, and supporting companies to build for climate resilient growth.
ThoughtWire has been changing how we think about intelligent automation and process optimization to interconnect and orchestrate people, data and things in real time. We are proud to call them our partners and excited about the company's very bright future." said Salil Munjal, Managing Partner, Yaletown Partners.
About ThoughtWire
ThoughtWire is on a mission to bring the built environment to life. By orchestrating data from people, process, and the physical built environment ThoughtWire delivers smarter, safer and more efficient hospitals, commercial buildings, and cities. Our software applications put people first, whether for clinicians, patients, office workers, or first responders, ThoughtWire puts people in control.
Powered by Digital Twins, ThoughtWire's applications for smart hospitals, smart buildings, and smart cities unlock the value of data generated from built environments by combining it with context from people, processes and IoT devices. Since 2009, ThoughtWire has been changing how we think about interconnectivity of smart spaces, beginning with its Ambiantâ„¢ platform, developed to interconnect and orchestrate people, data, and things in real-time.
About Yaletown Partners
Yaletown Partners is dedicated to closing the emerging-growth stage investment gap faced by technology companies in Canada. We invest in technology companies that enhance industry and enterprise productivity and sustainability, to help accelerate their growth, shorten exit timeframes and achieve strong exit premiums. With offices in Vancouver, Calgary, Montréal, and a growing presence in Toronto, Yaletown is led by a national team that contributes almost 100 years of technology-industry experience and a network of extensive industry relationships.
We look to invest between $2 million and $5 million initially, with capital reserved for follow-on financings for a total of $7.5 - $15 million. While we often partner with other funds in later financing, we prefer to lead or co-lead our initial investments in portfolio companies. Our culture is one of deep individual commitment, shared objectives and passionate entrepreneurship - much like the teams we back.
When Yaletown invests in a company, every member of our investment team is a material investor alongside the institutional and individual investors in our funds. One partner is dedicated to each portfolio company, while all Yaletown partners contributes unique skills and perspective to every investment behind the scenes. If your emerging-growth company feels like a fit, or you are a like-minded investor, we invite you to ask around about us and connect - www.yaletown.com.
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