Toronto, Ontario–(May 20, 2020) – McRock Fund II LP, the latest Industrial Internet of Things (IIoT)  venture capital fund managed by McRock Capital, announced today that it has led the US$10 million  financing in Texas-based ThoughtTrace, Inc. The round included investments from Chevron Technology  Ventures and existing investor Altira Group. Scott MacDonald, Co-founder & Managing Partner from  McRock has joined ThoughtTrace’s Board of Directors. 

ThoughtTrace’s AI-powered Document Intelligence platform enables organizations to uncover valuable  information buried in contracts and documents in a fraction of the time and cost it would take using  traditional review methods. In addition to massive productivity gains, companies that have harnessed this  power have drastically reduced OPEX, minimized corporate risk, and even discovered new opportunities  worth millions to the bottom line. 

“We are extraordinarily excited to have both McRock and Chevron join the team. McRock brings a great  background in the industrial space, which we see as a great fit. In the case of Chevron, they went from  being a new customer in 2019 to an investor in 2020.,” said Nick Vandivere, ThoughtTrace CEO. “With the  new capital raise, ThoughtTrace will accelerate its investment in creating AI with unparalleled speed and  accuracy, grow strategic partnerships and platform integrations, and add to its existing team of talented  professionals, all of which will bring further value to the growing ThoughtTrace customer-base.”

“As the digital strategy of industrial companies becomes even more important in the current market  climate, being able to use AI software to discover critical information in thousands of unstructured text  documents quickly and cost effectively is transformational,” said Scott MacDonald, Co-founder of McRock  Capital. “ThoughtTrace allows a company to expand the data analytics from a physical asset to the  documentation that governs that asset such as a Power Purchase Agreement for renewable energy”. 

Since the 2017 initial product release serving the domestic energy sector, ThoughtTrace has seen  aggressive growth year-over-year through expanding energy offerings as well as moving into new vertical  markets. Today, the ThoughtTrace technology is trained by subject-matter-experts to serve a wide array  of industries including manufacturing, real estate, technology, legal, telecommunications, oil and gas, and  renewable energy. 

About ThoughtTrace – ThoughtTrace creates the only industry-specific Document Intelligence and  Contract Analytics platform that delivers value on day one with minimal training and setup. Leveraging  AI/ML as a complement to human expertise, the ThoughtTrace platform identifies critical obligations in  contracts exponentially faster and with greater accuracy than traditional methods. The ThoughtTrace  platform reads, organizes, and surfaces data that gives users operational agility, actionable insights, and  decision-making superpowers.  

Visit www.thoughttrace.com or follow on twitter @ThoughtTrace  

About McRock Capital – McRock is the first dedicated Industrial Internet of Things (IIoT) venture capital  fund manager focused on the intersection of sensors and software in large industrial markets and smart  cities. The McRock team has a unique background of building high-growth venture-backed IIoT companies  while also having worked in the power, water, oil and gas industries. McRock is backed by several leading  institutional investors and global corporations including Cisco Systems, Caterpillar, Shell, Mitsubishi and  Électricité de France (EDF). 

Visit www.mcrockcapital.com and follow on Twitter @McRockCapital

Toronto, Ontario–(December 20, 2019) – McRock iNFund LP, an Industrial Internet of Things (IIoT)  venture capital fund managed by McRock Capital, announced today that it has led a US$ 17 million  Series C financing round in Michigan-based SkySpecs, a wind energy asset automation and predictive  analytics provider. Other new investors in the round included Equinor Energy Ventures, and Evergy  Ventures, the non-regulated investment affiliate of Evergy, the parent company of Kansas City Power &  Light Company (KCP&L) and Westar Energy, alongside participation by existing investors including  Statkraft Ventures, UL and Venture Investors.  

SkySpecs has earned a leading position in the North American and European markets, reaching a landmark 30,000 fully autonomous inspections for the largest global wind energy owners. The company  uses AI, machine learning, robotics, and software to optimize operations & maintenance for the wind  energy industry in order to enable better decision making about repairs and proactive planning. The mission is to continue driving change in the renewable energy sector such that technology and  automation enable higher levels of global accessibility. 

“Our mission at SkySpecs has always been to provide the most comprehensive technological solutions  to optimize operations and maintenance in the wind energy industry.” said Danny Ellis, co-founder and  CEO at SkySpecs. “After interacting with McRock through their Industrial IoT Symposium, experiencing  their vast corporate relationships, and sharing a vision for the future of renewable energy, we could not  be more pleased to welcome them as a partner and investor. This investment is a reflection of our  commitment to both our customers and the renewable energy sector. We believe that technological  solutions – AI, machine learning, and robotics – will drive up efficiencies and ultimately make wind energy  ubiquitous. We are proud to be a part of this change” 

“As a leader in the wind energy technology space, the SkySpecs team presented a unique mix of skills  across software analytics and autonomous robotic technology”, said Scott MacDonald, Co-founder and  Managing Partner at McRock Capital. “SkySpecs is pushing the frontier of data driven decision making 

to reinvent the way turbines are kept at peak performance using data imaging and software to  streamline operations and maintenance”. 

As part of this financing, Scott MacDonald, Co-founder of McRock Capital, will join SkySpecs’ Board of  Directors and Siddharth Srivastava, VP at McRock Capital, will join as Board Observer.  

About SkySpecs – SkySpecs automates operations and maintenance of the wind energy assets through  robotics, predictive analytics, and industry expertise to help decrease unplanned downtime and increase  total production potential. The SkySpecs team combines expertise across autonomous robotics, data  science, wind turbine blade expertise, web application development, and global operations to deliver an  industry-leading solution. SkySpecs has offices in Ann Arbor, MI and Amsterdam, Netherlands and  currently operates in 19 countries on 5 continents.  

Visit https://skyspecs.com or follow on twitter @skyspecs 

About McRock Capital – McRock is the first dedicated Industrial Internet of Things (IIoT) venture  capital fund manager focused on the intersection of sensors and software in large industrial markets.  The McRock team has a unique background of building high-growth venture-backed IIoT companies  combined with domain expertise in the power, water, oil and gas industries. McRock is backed by several  leading institutional investors as well as Cisco Systems, Caterpillar, Shell and Électricité de France (EDF). 

Visit www.mcrock capital.com and follow on Twitter @McRockCapital

Toronto, Ontario–(September 9, 2019) – McRock Capital has held an initial closing on its second venture  capital fund, McRock Fund II LP, dedicated to investing in the global trend around the Industrial Internet  of Things (IoT). The new fund has reached over 80% of its targeted $100 million. Investors include Cisco  Investments, Shell and other significant corporate and institutional investors including BDC Capital, Export  Development Canada, Alberta Enterprise Corporation (AEC), and HarbourVest.  

McRock is a thought leader in the Industrial IoT sector and has emerged as one of the most experienced investors financing innovative private companies driving the digital transformation. The new fund will  invest in high-growth companies across Canada, the US, and Europe that are combining next generation  data analytics through artificial intelligence (AI) with the growing data from field devices, machines and 

equipment in industrial and urban environments.  

“We are at the beginning of the digital transformation in every industrial sector and urban environment  around the globe,” said Scott MacDonald, Co-founder and Managing Partner of McRock Capital. “McRock  Fund II provides us with significant investment capital and strategic corporate relationships to help build  the next generation of high-growth tech companies.” 

“Our leadership position continues to be advanced by the caliber of the corporations and institutional  investors we have attracted to McRock and Canada,” said Whitney Rockley, Co-founder and Managing  Partner of McRock Capital. “We also credit our diversity & inclusion initiatives within our own venture  capital firm, and the portfolio of companies we finance, for our strong financial performance.”

“Digitalisation is transforming Shell and we are looking at a range of options to drive future growth in our  marketing businesses,” said Saskia Mureau, Chief Digital Officer, Shell Global Commercial. “In partnership  with McRock Capital, we are seeking out new business models and technologies that have strong  disruptive qualities and that can improve the experience of industrial customers.” 

“In addition to offering a dedicated IoT and digital transformation solutions portfolio, Cisco actively  deploys capital and collaborates with organizations to drive IoT innovation globally. We have been  working closely with McRock since 2014 and are thrilled to continue this strategic relationship,” stated  Amit Chaturvedy, Head of IoT and Enterprise Networking at Cisco Investments.  

“McRock Fund II is building off the success of McRock’s inaugural fund, which is highly differentiated and  supports an emerging cluster of technology strength in Canada,” stated Alison Nankivell, VP of Funds and  Global Scaling at BDC Capital. “We are proud to be a returning institutional investor given their impressive  leadership position not only in their sector but in backing equally diverse and inclusive companies. We  look forward to finding more opportunities to coinvest with the McRock team in diversity focused  Canadian Industrial IoT businesses”. 

“Industrial IoT companies command a global stage, which makes our partnership with McRock a great  opportunity to help Canadian exporters succeed internationally,” said Dan Mancuso, SVP Financing &  Investments at EDC. “McRock is also a leader and champion for diversity and inclusion, which aligns well  with the objectives of EDC’s Women-in-Trade Program. 

“The McRock team has significant Industrial IoT expertise and a track record of building successful high growth companies, specifically in Canada,” said Kristina Williams, CEO of Alberta Enterprise Corporation.  “We see this as a strategic investment for AEC that will facilitate the growth of successful Industrial IoT  companies in the province of Alberta, both to strengthen our foundational industries of agriculture, oil  and gas, and also taking advantage of Alberta’s strength in machine learning and artificial intelligence.”  

“The Industrial IoT sector has great potential for growth as machine learning and AI enter the next phase  of implementation,” said Senia Rapisarda, Managing Director, HarbourVest Partners. “The Fourth  Industrial Revolution is already underway as everyone from corporations to municipalities look to improve  connectivity and efficiency, and McRock’s track record in this space made Fund II an attractive investment  opportunity.” 

About Shell  

Shell is an international energy company with expertise in the exploration, production, refining and  marketing of oil and natural gas, and the manufacturing and marketing of chemicals. For more  information, visit www.shell.com 

About BDC Capital 

BDC Capital is the investment arm of BDC—Canada’s only bank devoted exclusively to entrepreneurs.  With over $3 billion under management, BDC Capital serves as a strategic partner to the country’s most  innovative firms. It offers a full spectrum of risk capital, from seed investments to transition capital,  supporting Canadian entrepreneurs who wish to scale their businesses into global champions. For more  information, visit bdc.ca/capital

About EDC 

Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian  companies of all sizes succeed on the world stage. As international risk experts, we equip Canadian  companies with the tools they need – the trade knowledge, financing solutions, equity, insurance, and  connections – to grow their business with confidence. Underlying all our support is a commitment to  sustainable and responsible business. For more information, visit www.edc.ca 

About Alberta Enterprise Corporation 

Alberta Enterprise Corporation promotes the development of Alberta’s venture capital industry by  investing in venture capital funds that finance early-stage technology companies. Since our inception we  have committed $183 million for investment to 17 VC funds, covering a diverse range of forward-looking  industries including information technology, industrial technology, and life sciences. Our funds and their  partners have invested more than $496 million into Alberta technology companies. For more information,  visit www.alberta-enterprise.ca 

About HarbourVest Partners  

HarbourVest is an independent, global private markets investment specialist with 36 years of experience  and more than $64 billion in assets under management, as of June 30, 2019. The Firm’s powerful global  platform offers clients investment opportunities through primary fund investments, secondary  investments, and direct co-investments in commingled funds or separately managed accounts.  HarbourVest has more than 500 employees, including more than 125 investment professionals across  Asia, Europe, and the Americas. This global team has committed more than $37 billion to newly-formed  funds, completed over $21 billion in secondary purchases, and invested over $11 billion directly in  operating companies. Partnering with HarbourVest, clients have access to customized solutions,  longstanding relationships, actionable insights, and proven results. For more information, visit  www.harbourvest.com  

About McRock Capital 

McRock is an investment firm co-founded by venture capital veterans Scott MacDonald and Whitney  Rockley and invests exclusively in Industrial IoT companies across Canada, the US, and Europe. The  Industrial IoT is about the intersection of sensors and software in large industrial markets. For more  information, visit www.mcrockcapital.com. Follow McRock Capital on Twitter @McRockCapital 

Media: 

Scott MacDonald 

McRock Capital  

647 478 9337 ext 1 

scott@mcrockcapital.com

Toronto, Ontario–(June 10, 2019) – McRock Capital, a leading venture capital fund manager focused  exclusively on the Industrial Internet of Things (IIoT), announced today that McRock iNFund LP has led the  Series B financing in Alberta-based Decisive Farming Corporation. McRock previously led the company’s  Series A financing in 2016. Decisive Farming is dedicated to increasing farmers’ profitability, sustainability,  and technology ease-of-use by providing precision agriculture and data analytics in a single integrated  farm management software platform. Decisive Farming currently has over five million acres representing  1.5 billion in annual production in its platform and is being used on forty different crop types in North  America. Existing investor Export Development Canada (EDC) also participated in the financing. 

“At Decisive Farming, our focus is on providing farmers with precision agriculture and data analytics that  are geared toward increasing farm profitability, environmental sustainability, and ease-of use,” says Remi  Schmaltz, CEO of Decisive Farming. “The partnership with McRock has assisted in the acceleration of our  growth and this new round of financing will enable us to further increase adoption through; strategic  acquisitions, expanding the on-farm sales team and deploying advanced technologies including artificial  intelligence.” 

“The agricultural sector continues to be one of the leading adopters of Industrial IoT solutions,” says Whitney Rockley, Co-founder and Managing Partner of McRock Capital. “Decisive Farming is an Agtech  leader and it’s exciting to see farmers adopting a software platform that uses data analytics to improve  crop yield, crop traceability and ultimately profitability.”  

Whitney Rockley, Co-founder and Managing Partner of McRock Capital serves as Chair of the Board of  Directors.  

About Decisive Farming Corporation – Decisive Farming is a company dedicated to increasing farmers’  profitability, sustainability, and technology ease-of-use by providing a single integrated platform that is 

the farm’s primary operating system. The complete solution covers the three core farm functions; Farm  Management to improve performance, Precision Agronomy to increase yield and Crop Marketing to grow  farmer revenue. Decisive Farming’s platform currently has over five million acres representing 1.5 billion  in annual production and is being used on forty different crop types in North America. The company is  headquartered near Calgary, Alberta and has strategic partnerships with the leading distributors across  the agriculture value chain.  

Visit www.decisivefarming.com and follow on Twitter @DecisiveFarming 

About McRock Capital – McRock is the first dedicated Industrial Internet of Things (IIoT) venture capital  fund focused on the intersection of sensors and software in large industrial markets. The McRock team  has a unique background of building high-growth venture-backed IIoT companies while also having  worked in the power, water, oil and gas industries. McRock is backed by several leading institutional  investors as well as Cisco Systems and Électricité de France (EDF).  

Visit www.mcrockcapital.com and follow on Twitter @McRockCapital.