– CANADA, NB – RtTech Software is pleased to announce it has closed a $3 million Series A financing led by McRock Capital, a venture capital firm focused on the Industrial Internet of Things. New Brunswick Innovation Foundation (NBIF), an existing investor, also participated in the financing.
“This funding could not have come at a better time as we look to capitalize on the exploding Industrial Internet markets. We are adding features to our flagship industrial software apps that will leverage cloud-based technology and will make our products more widely accessible and affordable to our clients,” said Pablo Asiron, CEO of RtTech Software. “We are very excited to welcome McRock Capital as a new investor in our company and we sincerely appreciate the continued support of NBIF.”
As part of this financing, Scott MacDonald and Whitney Rockley, the co-founders of McRock, have both joined RtTech’s Board of Directors. “The McRock founders have a tremendous amount of experience in growing technology companies and adding them to our Board will give us more guidance and leadership in this critical aspect of our business,” added Mr. Asiron.
RtTech Software develops and markets software apps that provide Operational Intelligence for industrial facilities. RtTech offers two main solutions – RtDuet, a real-time software app designed to improve asset availability and utilization in industrial facilities like manufacturing and power generation, and RtEMIS, an energy management information system designed to help industrial facilities reduce energy consumption.
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