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The Better Software Company raises another USD1.35m

The Better Software Company, a recent graduate from the L-SPARK Accelerator program, has secured an additional USD1.35 million in funding led by ff Venture Capital, with participation by Mistral Venture Partners and additional local angel investors.

This closes the firm’s seed funding round and brings the total amount raised to USD2.1 million.
 
The Better Software Company has created a unified and simple new business management software application for 10’s of thousands of small and medium sized businesses (SMB’s) operating in numerous micro vertical industries, including party rentals, window washing, auto detailing, etc. Since joining L-SPARK in January 2015, revenues have grown more than 15x, with a consistent rate of 35 per cent month over month growth.
 
“With the additional financing, we are really excited to get to work and create even better business software tools for our customers,” says Steve Cody, Founder and CEO of The Better Software Company.
 
The SMB landscape equates to a USD21 billion total addressable market opportunity for The Better Software Company, and their innovative new software gives them a clear first-mover advantage. Early investors recognized their unique solution and target market, as well as their ability to scale fast, as key indicators for future success. While unusual for a Canadian company to attract the attention from investors south of the border at such an early stage, ff Venture Capital was keen to get on board.
 
“ff Venture Capital is proud to be an investor in The Better Software Company. The passion that Steve Cody and his team have for making small businesses more efficient has impressed us from the first time we met. As investors in early-stage companies, we understand the need for this solution, and are pleased to help the company continue its success,” says Alex Katz, Partner/CFO, ff Venture Capital.
 
The Executive leadership team in the company is now growing as well. Laurie Davis, active angel investor and founder of the Capital Angel Network, was paired with Steve Cody to serve as a mentor for the young company upon entering the L-SPARK Accelerator program. Mr. Davis now serves as the company’s Chief Operating Officer. Rob White, former VP of Mergers and Acquisitions for IBM, is now heading channel development, with the objective of growing partnerships and channels to market aggressively. The company will leverage this combined new leadership experience to guide it to the next level of growth.
 
“The Better Software Company is led by a serial entrepreneur whose dedication exemplifies the quality and passion entrepreneurs possess in Ottawa. I have no doubt, under the leadership of Steve Cody and his Executive team, that this company will achieve tremendous growth,” says Leo Lax, L-SPARK Managing Director.

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