Toronto-based Intelocate, developer of an enterprise issue resolution and workflow management system, has secured C$1 million in financing. The round, Intelocate’s third to date, was led by TCap Private Equity, a Canadian growth-stage software investment firm.
TORONTO, Nov. 18, 2020 /CNW/ – Intelocate, a cloud-based platform designed to increase productivity and optimize work performance in multi-location businesses, has successfully raised a further $1M in growth capital. This investment will fuel Intelocate’s global expansion to help businesses in retail, property, security, and telecommunications to optimize workflow processes and drive down costs amid the chaos caused by Covid-19 lockdowns.
“Intelocate offers an easy to use, chat-based issue and task management communication platform. It is specifically designed to optimize centralized issue resolution, task and communication management across multi locations, departments and vendors. For example, due to the pandemic, head office teams who are working remotely from home, are finding it more difficult to manage operations effectively in endless chat feeds and emails. The use of Intelocate’s platform enables teams to work much more efficiently remotely, leads to improved communications between locations, head office, and vendors, and to a greater efficiency in issue resolution. Intelocate drives tremendous cost savings and compliance with new government guidelines and regulations. The new financing will enable us to extend reach to more businesses, hit by lockdowns and those classified as “Essential Businesses”. It will also allow us to introduce new services and to deliver even more exciting updates and features,” said Yulia Vasilyeva, CEO of Intelocate.
The investment round was led by TCap Private Equity, a British Columbia based growth stage investor. This is a third investment round for Intelocate, closing was managed by Chase Irwin and Sean Del Giallo, Dentons Canada. Since 2017 Intelocate has serviced prominent brands such as Tapi Carpets, HMV Retail, Denby Pottery, Mercury Security and Facility Management.
“At TCap, we focus on growth stage software companies and recognize the tremendous potential in Intelocate’s offering”, said Peter Gill, CFO of TCap Private Equity. “Its centralized and simplified approach to managing operations gives companies instant visibility into emerging issues across multiple physical locations. The improved communications between teams and greater efficiency in issue resolution leads to tremendous cost savings. We’ve already started adding Intelocate to operations at our other portfolio companies.”
To learn more about Intelocate, visit https://www.intelocate.com
To learn more about TCap Private Equity, visit https://www.tcapequity.com