• Canvass Updates

Canvass Secures US$6.5M Series A led by Yamaha Motor Ventures

This article was originally posted on Private Capital Journal

CPE News (10/28/2020) – Canvass Analytics Inc. has recently raised US $6.5 million in Series A funding led by Yamaha Motor Ventures and Laboratory Silicon Valley, Inc. (Yamaha Motor Ventures) with participation from existing investors Real Ventures, BDC Capital, EDC, and Viaduct Ventures.

Gradient Ventures, Google’s AI-focused venture capital fund, which led a US $5 million seed financing, did not participate in the financing.

Canvass Analytics investors also include Lindsay Goldberg backed Bedrock Industries, the largest shareholder of Stelco Holdings Inc. (TSX: STLC)

The closing of Series A brings total investment in Canvass to date to US $13 million.

Canvass Analytics intends to use funding to aggressively expand go-to-market efforts, accelerate product development, and support its growing customer base of large global enterprises in North America, Europe, and Asia Pacific markets.

Founded by CEO Humera Malik in 2016, Toronto based Canvass Analytics is a leading provider of AI industrial software. Its patent-pending technology enables intelligent industrial operations by putting AI directly in the hands of plant operators, empowering them with data-driven insights to improve production processes and optimize assets.