Toronto, Ontario–(February 24, 2015) – McRock iNFund, an Industrial Internet of Things (IIoT) venture capital fund managed by McRock Capital, has led a $3 million Series A financing in Moncton-based RtTech Software. Existing investor New Brunswick Innovation Foundation also participated in the round.
RtTech 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 equipment availability and utilization in industrial facilities like manufacturing and power generation, and RtEMIS, an energy management information system designed to reduce energy consumption.
As part of this financing, Scott MacDonald and Whitney Rockley, the co-founders of McRock, have both joined RtTech’s Board of Directors.
“This funding could not have come at a better time as we look to capitalize on the exploding IIoT 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 global industrial facilities clients”, said Pablo Asiron, CEO of RtTech Software. “The McRock founders have a tremendous amount of experience growing technology companies. We are proud to have attracted an investment partner with such a strong focus on the Industrial Internet”.
In January 2015, McRock announced a strategic investment in its venture capital fund by Cisco Systems and two of Canada’s largest fund-of-funds investors, Teralys Capital and BDC Capital.
About McRock Capital
McRock Capital is a venture capital firm making investments in North American companies offering Industrial Internet of Things software and sensor solutions for the grid automation, digital oilfield, advanced manufacturing and smart city markets. For more information, visit www.mcrockcapital.com. Follow McRock Capital on Twitter @McRockCapital