Canvas announced it has closed the first $1.2 million in
a $1.75 million Series B funding round. The round was led by an investment from
Motorola Solutions Venture Capital, the strategic investment arm of Motorola
Ninety-five percent of an estimated 400 million mobile
workers still rely on paper forms to conduct business. Canvas’ mobile
application platform enables businesses to find, create, deploy and share
mobile business applications that significantly reduce the need for paper forms
and surveys, paper consumption and redundant data entry.
Canvas’ cloud-based solution allows businesses of any
size to quickly and cost-effectively shift from paper-intensive processes to
data collection apps on smartphones, tablets, bar code scanning devices and
other mobile devices.
Canvas enables mobile professionals to collect
information using their mobile devices, analyze that data on the Canvas web
site, and share information across their business community.
In addition, Canvas has developed the first mobile
business app store of its kind allowing business users to find mobile
applications that work on a wide variety of mobile devices, with every
application being customizable by Canvas users.
The Canvas mobile app store now has
more than 750 apps across numerous verticals, including transportation &
logistics, healthcare, retail & wholesale distribution, government,
education, hospitality and manufacturing.
Canvas is well positioned at the epicenter of several
shifts underway in the mobile business application market, including an
increasingly mobile workforce and growing adoption of smartphones, tablets and
enterprise digital assistant devices,” said Reese Schroeder, managing director,
Motorola Solutions Venture Capital.
With a proven management team, differentiated product
offering and a scalable go-to-market strategy we are confident Canvas will
continue to gain rapid traction in a -mobile apps for business’ market just
beginning to take off,” Schroeder added.
Motorola Solutions Venture Capital through a diversified
portfolio, is focused on new-idea” companies and opportunities that complement
Motorola Solutions’ business strategy. It invests at all stages in developing
companies to accelerate access to new technologies, new markets and new
Canvas is enabling this shift by delivering a scalable
business application service and partnering with organizations on the front
line of change, including wireless carriers, content providers,
smartphone/mobile device providers, and others in the mobile ecosystem,” said
James Quigley, CEO and co-founder, Canvas.
The investment from Motorola Solutions Venture Capital
and Canvas’s Series B funders will allow Canvas to accelerate Canvas’s already
significant growth, continue to scale innovation, and empower more
organizations to benefit from the shift to mobile business applications.
By Telecomlead.com Team