Ready to Rock: McRock Fund III Launches Industrial Software Fund with Strong First Close

Our latest Fund secures top tier institutional investors to focus on the growth of the Industrial Software sector

We’ve been diving deep into the world of Digital Industrial since McRock first opened its doors more than a decade ago. And guess what? Our expertise is paying off, and wow, does it ever feel good!

At the 11th annual McRock Digital Industrial Symposium today, our co-founders Whitney Rockley and Scott MacDonald announced the first closing of McRock Fund III with US $81 million in commitments. Fund III will focus on industrial software.

McRock Fund III investors include longtime partners Export Development Canada, BDC Capital, Alberta Enterprise Corporation, Fonds de solidarité FTQ and Aspen Technology, Inc., plus newcomers Venture Ontario, Bell Ventures and CIBC Innovation Banking.

We’re far from done

Digital Industrial technologies help operations run better, faster, cheaper, safer and greener. Add AI into the mix, and the Digital Industrial Revolution is picking up speed so fast it can feel like we’re going to run out of runway!

We’ve been paying attention to industrial software for quite a while, and that part of our portfolio has already been rocking and rolling. From former portfolio companies mnubo (acquired by AspenTech in 2019), Decisive Farming (Telus, 2019), ThoughtTrace (Thomson Reuters, 2022) and Poka (IFS, 2023) to active companies like Landing AI, Samdesk and our newest investment, Prevu3D.

“The next frontier in software is industrial,” notes Whitney. “The sector, supercharged by rapid AI advancements, is a highly promising area of growth. AI-enabled software’s ability to boost productivity and efficiency in industrial and smart city applications is seriously exciting.”

“We’ve always been clear that digital industrial solutions play an essential role in a sustainable future,” says Scott. “Our investors clearly agree, and we appreciate their confidence at this pivotal moment for McRock Capital and the incredible entrepreneurs we back.”

Now…let’s get McRock’n!