SAINT JOHN – A Saint John-headquartered software company has secured $2.9-million funding round with the help of Atlantic Canadian firms.
Gemba Software Solutions’s funding round was led by Build Ventures, the Halifax-based venture capital company, who contributed $2-million. The New Brunswick Innovation (NBIF) put up $600,000 and Innovatia Inc. contributed $300,000.
Gemba’s knowledge management software, known as ProcedureFlow turns complicated, text-heavy information into simple, visual processes that are easy for anyone to follow. This enables organizations to train employees 75 per cent faster, reduce time to employee proficiency, and cut operating costs by 10 per cent or more.
“Gemba has been a part of our portfolio since 2015, and since that time we’ve seen phenomenal growth,” said Ray Fitzpatrick, NBIF’s director of investment, in a release. “Having Build Ventures backing them to lead this investment round is exciting, as it validates our belief that this company could have rapid growth potential.”
Gemba’s CEO Daniella Degrace is an entrepreneur with deep roots in New Brunswick’s startup community. She previously served as Vice-President at two of the province’s best-known and most successful startups Radian6/Salesforce and Q1 Labs/IBM. Since Gemba’s launch in 2012, the company has gone on to secure high-profile customers including the Los Angeles Department of Water & Power, Wyndham Hotel Group, and Medavie Blue Cross.
“Traditionally, employee training can consume an enormous amount of time and money,” said Degrace. “ProcedureFlow allows companies and employees to reduce training time so they can spend more time doing the work that matters. As a bonus, employees will complete tasks more quickly and to a higher quality.”
Gemba will use the funding to help increase sales efforts and continue to grow revenue.
“We’ve seen the impact that ProcedureFlow can have on our clients’ performance,” said DeGrace. “With ProcedureFlow, we’ve helped our clients increase productivity and, importantly, we’ve supported our clients’ growth through visual knowledge transfer, resulting in an enhanced customer experience. This significant investment will help us grow ProcedureFlow and scale up our operations.