- Chrysalis is an ecosystem of networked companies that develops SaaS solutions
- The Chrysalis ecosystem is made up of iQmetrix, Ready and Shiftlab
- Westcap has been investing with the founders of Chrysalis since 2007
Westcap’s Golden Opportunities Fund and Westcap MBO II Investment LP have come together to invest in Vancouver-based Chrysalis Software, formerly known as iQmetrix Global.
Chrysalis is an ecosystem of networked companies that develops software-as-a-service (SaaS) solutions.
The Chrysalis ecosystem is made up of: iQmetrix, a provider of software for the telecoms industry. Ready, a connected dining platform for restaurants, stadia and hotels and Shiftlab, a performance-based scheduling platform for retailers.
“We are pleased to be chosen to partner again with this strong and experienced management team that has a proven track record of success in the innovation sector. They continue to generate shareholder value in previous companies and are well-positioned with significant growth potential,” says Jamie Schwitzer, chief investment officer at Westcap. “This investment complements the strategic focus that Westcap has continuing to invest in innovation as a key pillar and high-growth economic sector.”
Westcap has been investing with the founders of Chrysalis since 2007.
“We continue to choose Westcap as our financial partner due to the strategic value they add as a capital partner,” says Christopher Krywulak, founder of Chrysalis. “With this funding, directed at two targeted acquisitions with additional strategic platforms, Chrysalis will be a worldwide technology company operating in over 25 countries.”
Westcap is a Saskatoon, Saskatchewan-based private equity firm. It was founded in 1997 and looks to invest in technology companies. To date, the firm has raised and completed over $1 billion in transactions. Golden Opportunities Fund is the first and longest-standing provincial Retail Venture Capital (RVC) Fund in Saskatchewan.