FedDev Ontario has announced a repayable contribution of $500,000 to Hamilton-based software company Weever Apps, which it believes will aid the company in the commercialization of its newly launched Process Manager software, a management tool designed to replace paper documents in tracking FDA compliance.
Announced this morning by Minister of Innovation, Science, and Economic Development (ISED), Navdeep Bains, the contribution is of the Government of Canada’s Economic Strategy Table on Digital Industries, which is aimed at helping build up high-growth firms in Canada.
“The Government of Canada is committed to supporting Canada’s scalable ICT firms, like Weever Apps, in the development and commercialization of their innovative technology to compete in new markets,” said Bains in a press release. “Today’s investment is another example of how we can foster homegrown innovations.”
FedDev says it believes this contribution will also help create five new full-time jobs.
This investment into Weever Apps is also being supplemented by contributions of $500,000 from MaRS Investment Accelerator Fund (IAF) and $500,000 from GreenSky Capital Inc.
“Weever Apps will be using the $1.5 million in additional investments from FedDev Ontario, GreenSky Capital and MaRS IAF to launch and build out our sales team for Process Manager, our latest compliance workflow automation software product,” said Steve McBride, the chief executive officer of Weever Apps. “This cloud-based software includes innovative functionality, including audit trails and data integrity measures, which not only makes it a perfect solution for food and drug product quality, but it is also compliant with the Canadian Food Inspection Agency, U.S. Food and Drug Administration and European Medicines Agency.”
Weever Apps was founded in 2011 and has been known for its work in business productivity software, and is used by clients such as Unilever, Kellogg’s, Georgia-Pacific LLC, and Xerox Corp.