NoteVault has received follow-on funding from West Partners. No financial terms were disclosed. Based in San Diego, NoteVault is a provider of voice-to-text-based mobile reporting solutions for the engineering and construction sectors.
CARLSBAD, Calif., Dec. 22, 2014 /PRNewswire/ — West Partners, a San Diego area investment firm, completed a follow-on investment in NoteVault, Inc., a San Diego-based provider of innovative voice-to-text-based mobile reporting solutions for the engineering and construction industry. The investment comes after West Partners made its original investment in NoteVault in February of 2014. Terms of the investment were not disclosed.
“NoteVault is executing on the plan laid out prior to our first investment,” said Art McGill, Vice President of West Partners. “There is an opportunity for Peter Lasensky and his team to accelerate growth beyond our original plan, and this additional capital will enable their progression.”
NoteVault offers construction companies a cloud-based subscription solution that enables users to post real-time notes throughout the day by typing, texting, or speaking into a mobile device, such as a smartphone or tablet.
Users can also use a laptop or other traditional device to type daily notes into the NoteVault system. Notes can include photos and videos, delivering the clearest possible message regarding activity on the ground. Each individual note is encrypted and stored for 10 years.
“This investment will enable NoteVault to continue expanding our sales and marketing efforts, as well as make exciting enhancements to the core NoteVault platform and develop additional features to serve our customers,” noted Peter Lasensky, NoteVault’s CEO. “Our immediate success enabling construction firms’ ability to increase productivity and mitigate risk validates a demand in the market greater than we anticipated.”
About West Partners
West Partners is the San Diego investment arm of the Gary & Mary West Family Office, making investments into privately held companies. The firm seeks to acquire controlling stakes in companies operating in growing markets, with strong management teams. West Partners also invests in commercial real estate. The permanent capital base enables West Partners to be more flexible in its investment approach than traditional private equity. Investments range from $10 million to $100 million.
NoteVault provides innovative voice-to-text-based mobile reporting solutions for the commercial construction industry. NoteVault enables superintendents to quickly and easily report project activity from the field using nothing but their voice and their mobile phone. This information is transcribed and made available through email or a web-based interface. NoteVault saves contractors time and money, while protecting against potential lawsuits. For more information, please visit www.notevault.com.