Eigen Announces New Financing, Management Changes
FREDERICTON–NBIF and Eigen Innovations Inc. announced today some major changes coming to Eigen’s management team and financing.
Eigen has closed a new $1.4 million equity financing round for the company’s expansion, including $250,000 from NBIF’s Venture Capital Fund, $100,000 from BDC Capital and just over $1 million from angel investors.
Changes to the management team means Eigen co-founder and CTO Scott Everett is taking over the position of CEO from Richard Jones.
“To better position ourselves for the convergence happening between manufacturing and the Industrial Internet of Things, we are evolving our leadership structure to scale with the growth we are experiencing within our partner ecosystem and customer base,” says Everett.
Jones, who joined Eigen in October 2013, will remain on the company’s board of directors
“Scott has grown from co-founder and visionary to an executive leader doing a great job shaping the strategic direction of the company, and now is a good time for me to step away and let Eigen continue its upward trajectory,” Jones said.