West Partners has closed an investment in NoteVault, a San Diego-based provider of voice-to-text-based mobile reporting solutions for the engineering and construction industry.
Terms of the investment have not been disclosed.
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.
"We are very excited to be partnering with NoteVault," says Dennis O'Brien, president of West Partners. "We believe the firm has the best solution to allow construction companies to more efficiently manage their daily reports. In addition, CEO Peter Lasensky and the rest of the NoteVault management team are the type of partners we look for at West Partners."
Users can also use a laptop or other traditional computer device to type daily notes into the NoteVault system. Notes can include photos and videos. Each individual note is encrypted and stored for 10 years.
The investment will fund the company's growth plan.
"Our vision is to enhance construction firms' ability to increase productivity and reduce liability by mitigating risk," says Peter Lasensky, CEO of NoteVault. "West Partners' investment will enable us to accelerate product development and continue to offer the most innovative solutions to this market. We're excited to be partners with West and look forward to the success we'll realise together."
