Virtual work startup ICwhatUC secures $1.1m in financing

Calgary-based virtual work startup ICwhatUC has secured $1.1 million (C$1.3 million) in financing.

Calgary-based virtual work startup ICwhatUC has secured $1.1 million (C$1.3 million) in financing. The round was led by Tom Williams’ Heron Rock. ICwhatUC’s platform uses artificial intelligence to automate tasks, gives field teams access to predictive analytics taken from customer data, and helps them to fix issues remotely through shared smartphone video.

PRESS RELEASE

August 19, 2021
Calgary-based tech startup, ICwhatUC, has recently secured an additional $1.3M CAD ($1.1M USD) of funding in their spring raise. The round was led by Tom Williams’ venture fund, Heron Rock.

Commercially launched in late 2019, ICwhatUC is a data-powered virtual work platform that uses artificial intelligence to automate tasks, gives field teams access to predictive analytics gathered from their customer data, and enables them to triage and fix issues remotely through shared smartphone video. These data-driven real time interactions save ICwhatUC’s customers time, costs, and make work safer for their experts.

“The field service industry is thoroughly underserved by technology; for decades it has been ignored because the technology wasn’t available or was prohibitively expensive,” says ICwhatUC CEO Guillermo Salazar. “With 3.2 billion augmented reality enabled smartphones in the world, on-demand service expectations, and video emerging as the most effective channel for collaboration and data creation, the time is now to enable a data-driven virtual work experience.”

ICwhatUC serves enterprise companies with distributed work sites, where service is a cost center. North America’s field service industry is estimated to spend $250 billion on truck rolls per year, 50% of which ICwhatUC’s customers have been able to eliminate by remotely completing inspections, assessments, estimates, and repairs.

“Extremely powerful market forces are creating more urgency for ICwhatUC’s customers and prospects to find new ways to serve their customers. These forces include increasing investor pressures on companies to set and achieve ESG goals, as well as fundamental changes in access to labour creating additional pressure that make ICwhatUC’s solution the best response,” says Tom Williams of Heron Rock. “Every industry is only at the beginning of true transformation in the way that they deliver their products and services to customers.”

This funding round will accelerate ICwhatUC’s artificial intelligence and machine learning capabilities, enabling more autonomous work management and issue resolution for field service companies. For go to market, ICwhatUC will be allocating resources to bolster their international and US expansion.

“We were introduced to Tom Williams at Heron Rock, and instantly shared alignment over the size of the market, urgency to solve the problem, and the future of field work,” says Guillermo Salazar. “Tom has already provided invaluable guidance based on his experience, we look forward to working with him as we scale up.”

ICwhatUC is growing its technology, customer success, and sales teams as they gear up for data and AI-focused development sprints this fall, having added leadership in Customer Success and hired their Chief Technology Officer. They have been actively growing their tech team to scale customer growth and product development.

“As an investor, I’m always looking for software-driven approaches that allow businesses to deliver their products and services more efficiently while delivering the level of customer experience that today’s consumer expects in every part of their life,” says Tom Williams. “ICwhatUC perfectly represents the kind of software solution that those companies and their customers can easily agree is better than the status quo. I’m excited to lead this round and play an active role in helping build the ICwhatUC team.”

ICwhatUC enables the world’s field workforce with a real-time data-powered work platform, enabling teams to serve their customers and log their work visually, leveraging AI, ML and video to make their work safer, more accurate and less complex. ICwhatUC serves its customers in Europe, North American and Australia.

ICwhatUC is committed to diversity and inclusion in its workforce, and an ethical and responsible commitment to sustaining our environment, and acknowledges the traditional territories of the people of the Treaty 7 region in Southern Alberta. The City of Calgary is also home to Métis Nation of Alberta, Region III.