Fresnel Software Announces Closing of Private Placement in Series A

by Kay Aloha Villamor in August 17th, 2021

Fresnel Software Corporation, a world leader in the design and development of Vitruvi™, is pleased to announce that it has successfully closed its oversubscribed Series A private placement with both U.S. and Canadian strategic investors whose backgrounds include general contracting, utility asset ownership, and B2B SaaS.

The net proceeds raised from the financing will be used to continue development and expansion of the capabilities of the Virtuvi™ Platform.

Company: Fresnel Software Corporation

Raised:

Round: Series A

Funding Month: August 2021

Lead Investors: U.S. and Canadian strategic investors 

Additional Investors:

Company Website: http://www.fresnel.cc

Software Category: cloud-based, GIS-enabled, project management platform

About the Company: Fresnel Software is a high-growth Canadian-based B2B SaaS company with a global workforce supporting utility construction customers around the world. Development of the Vitruvi platform began in 2016, when the team at Fresnel Software, along with their strategic investor, set out to create an enterprise-grade, end-to-end, GIS-based, construction management platform, built on best-in-class, open-access technologies allowing construction and asset owner teams to fully integrated all aspects of cost, quality, and schedule on a single platform with the ability to collaborate across the entire value chain, including asset owners, general contractors, subcontractors, and even third-party stakeholders.

Source: https://www.prnewswire.com/news-releases/fresnel-software-announces-closing-of-private-placement-301355546.html

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