Montreal-based Longbow Advantage, a consulting and IT services company specializing in supply chain management, has received C$1 million in non-dilutive financing. The funding was provided by BDC Capital’s Growth & Transition Capital division to support Longbow’s global sales growth.
MONTREAL, February 17, 2021 – Montreal-based Longbow Advantage received $1 million in non dilutive financing from BDC Capital’s Growth & Transition Capital division earlier last year, at the onset of the COVID-19 crisis. Founded in 2002, Longbow is a strategic consulting and IT services company specializing in supply chain management. In 2016, it launched Rebus, a software as a service (SaaS) that enables real time analysis of the various elements of a supply chain and automates decision-making to optimize performance. This software represents a vector of strong growth for Longbow for the coming years. A number of international companies are already among its users, including Mars, Polaris, Kraft Heinz and Subaru.
The funds were earmarked primarily for opening offices in Europe and the United Kingdom and strengthening the sales team in the United States to expand the marketing of Rebus outside Canada, as well as for supporting the ongoing development of the software. They were provided by BDC Capital in the form of a flexible cash flow loan with a partial capital moratorium and a patient repayment schedule. This type of financing is designed for growing companies that, like Longbow, generate strong cash flow.
“Expanding Rebus internationally is a key part of our growth strategy, and it’s essential to supporting our customers that have global brands,” says Alex Wakefield, CEO of Longbow Advantage. “With Rebus, our customers now have hyper-scalable access to real-time supply chain data that they have never had before, and we are working with them to expand quickly in other regions. The partnership with BDC Capital has been outstanding, and they are a key enabler to Longbow’s rapid growth.”
This transaction was led by Jean Philippe Poissant, Director, Technology Group, Growth & Transition Capital, BDC Capital. “The combination of consulting services and a software product, both of which are growing rapidly, is one of Longbow Advantage’s major strengths,” says Poissant. “Rebus is a solution with great added value, because it enables businesses to save money in the management of their supply chains. That is why it has already been adopted by several major multinationals.”
About Longbow Advantage
Longbow Advantage is a boutique supply chain consulting firm that provides the highest-quality software deployments in the industry. Rebus Data Services is Longbow’s SaaS distribution data cloud, which provides access to supply chain data in a hyper-scalable, easy to use, and cost-effective manner that allows customers to see all areas of the logistics operations in real time, so they can better manage costs and serve customers.
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.Visit bdc.ca/capital.