May 16, 2022
Userful, a visual networking service provider founded in Calgary, has raised $10 million in its latest round of all-equity funding. The Series A round was led by BDC Capital’s Industrial, Clean and Energy Technology Venture Fund and Yaletown Partners, and included participation from Birchcliff Partners and Accelerate Fund, among other investors.
Userful’s platform provides a software-defined solution to centralize the management of a company’s visual network. It allows companies to easily deploy and manage video walls, digital signs, and kiosks for uses such as mission-control rooms, digital advertisements, corporate communication, informative dashboard walls, interactive kiosks and customer support centres.
The platform’s competitive advantage stems from its simplicity and integration across different devices. The platform does not require any hardware to connect to smart displays and only needs a small adapter for regular displays. This eliminates the need to purchase distinct hardware for each type of device, and provides a single platform to centrally manage all of a company’s different devices.
According to Userful, over 1,000 companies in more than 100 countries have used its platform. Among Userful’s customers are the National Aeronautics and Space Administration (NASA), Nestlé, Deloitte, Hilton Hotels & Resorts, Ford Motor Company and Suffolk Construction.
As part of the round, two strategic advisors are joining Userful’s advisory board: Brian Lewis, co-founder and chief architect of Elemental Technologies (acquired by Amazon Web Services), and Mohammad Moshirpour, software engineering teaching chair and program director at the University of Calgary’s Department of Electrical and Software Engineering.
This $10 million Series A round follows Userful’s $3 million seed round in 2019.
By: Eran Rubman