Montreal-based Fortem, maker of 3D security systems, has sealed $1.43 million in new financing. The investment came from seven members of the Anges Québec group, the Anges Québec Capital fund, and other private investors. The company is targeting a total of $3.5 million for the round, which remains open until early next year, the company said in a press release.
Montreal-based Fortem, creator of the Omnipresence 3D security system, has announced today that it has secured an investment of $1.43M from seven members of the Anges Québec group, the Anges Québec Capital fund, and other private investors. Of the investment raised, the Anges Québec Capital fund contributed $500,000 with an additional $525,000 contributed by individual members of Anges Québec including Jean-Guy Gourdeau. To maximize its rate of growth, Fortem’s current round of funding remains open to an additional $2.1M of investment until February 2nd, 2013.
Fortem provides a 3D software-based security integration platform, optimized to improve public and private security. Omnipresence 3D enables security managers and police departments to unify disparate security systems and databases into a common 3D interface. Fortem’s clients include large enterprise, transit systems, universities, and the defense departments of allied countries. With Omnipresence 3D, security investigations which may have taken hours or days before are vastly accelerated. In the case of live emergency situations which a security department may face, Omnipresence 3D provides vital tools to increase the responsiveness, enabling the use of valuable security technology even in high-stress situations.
The financing from Anges Québec and the Anges Québec Capital fund will enable Fortem to increase its international sales operations and continue to develop patented technologies. “With this round of investment, we will be well positioned to meet demand and become a leader in this market, projected to exceed half a billion dollars by 2015,” said Christian Laforte, President and CEO of Fortem. “We appreciate the support that Anges Québec has shown us, through their investment as well as through their network of successful entrepreneurs, which amplifies the potential of innovative companies like ours.” Fortem has already filed two patents in fifteen countries for its advanced algorithms, adapted from the video game industry. Before entering the security industry, Fortem developed 3D software for clients including Google and the Canadian Space Agency.
Jean-Guy Gourdeau, the angel investor who led the project for Anges Québec, was convinced by the dynamic team at Fortem. “These are entrepreneurs with a clear vision of what they want to accomplish. They have been able to develop and push their technology very far, possessing an excellent understanding of the market they are addressing.” This opinion was shared as well by François Gilbert, President and Director-General of Anges Québec and Anges Québec Capital . “Our members have invested with confidence in this company, which has developed a product that is technologically complex, yet offers great ease of use and meets a real need in the market by optimising and simplifying security management.”
About Anges Quebec
Anges Québec is a network of 110 private investors that identifies, finances and coaches innovative Quebec enterprises with high growth potential. Anges Québec members invest their capital and expertise in the most promising start-up companies. In this capacity, Anges Québec works closely with Quebec business leaders in the development and growth of technological innovations.