Userful gets $10 million for technology that centralizes brands’ visual network
NASA, Nestlé, among over a thousand companies using Userful’s visual networking platform.
Calgary-based visual networking platform provider Userful has raised C$10 million in an all-equity investment round including new and old investors.
Userful claims that over a thousand businesses in over 100 countries have used its platform.
The financing, which closed in March, saw participation from BDC Capital’s Industrial, Clean and Energy (ICE) Venture Capital Fund and Yaletown Partners. Birchcliff Partners, Accelerate Fund and other Userful Series A investors have re-engaged. Userful did not disclose all of the investors who participated in the round.
In operation since 2015, the Userful platform makes it easy to centrally manage a company’s visual network. Its technology works directly on smart displays with no hardware required or adapters for any existing display. Userful has since expanded its Calgary headquarters to open offices in San Ramon, CA and Sao Paulo, Brazil.
A Userful spokesperson told BetaKit that its headquarters are in Silicon Valley, but the company has a large presence in downtown Calgary, where it occupies one floor of the First Tower building. Its research and development activities, as well as a large part of its commercial activities, are located in Calgary.
The Userful platform allows users to deploy video walls, digital signs and kiosks for uses such as critical control rooms, digital displays, corporate communications, informational dashboard walls, interactive kiosks, immersive customer experience centers, etc.
Userful claims that over a thousand businesses in over 100 countries have used its platform. Its clientele includes Hilton Hotels & Resorts, the National Aeronautics and Space Administration, Ford Motor Company, Suffolk Construction, Nestlé and Deloitte.
Userful recently recruited four new strategic advisors. Joining the Userful’s advisory board.
Lewis and Moshirpour join Userful’s Chief Technology Officer Reza Razavi and AV industry veteran Board Member John LeMoncheck on the company’s Technology Strategy Committee.
Matt Sachse, Managing Partner at AQ Technology Partners, Joins as Strategic Advisors to Userful CEO John Marshall; and Neil Frizzell, managing partner at Chrysalis Capital Advisors Inc., and co-founder and partner at Birchcliff Partners LP.
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The recent $10 million funding follows Userful’s $3 million seed round in 2019 led by Accelerate Fund II, managed by Yaletown Partners. With total funding of approximately $13.9 million, Userful also received $950,000 from the Canadian government through the Western Innovation Initiative in 2018.
Featured image from Userful