Quebec City, February 28, 2012 â€“ For the first time, members of the Anges QuĂ©bec network and Ontarioâ€™s Maple Leaf Angels are joining forces to invest in a company. Private investors from these two groups are investing $560,000Â in the Canadian company Futurestate IT and its Application Currency Management Cloudâ„˘ platform.
Named by IDC as one of 10 Canadian companies to watch in the field of cloud computing, Futurestate IT developed AppRx, the first cloud-based platform that automates the monitoring and testing of applications
to ensure they are kept current, compatible and compliant
with changes in the IT environment. As Futurestate ITâ€™s CEO Alex Topitsch explained,Â â€śToday, organizations are faced with an escalating backlog of out of date applications that puts them at risk of running unsupported software, being incompatible with new technology platforms and , potentially, application failure. With the end of Windows XP in April 2014, just over 24 months away, there is now even greater risk and urgency. Weâ€™ve developed AppRx to enable organizations to rapidly test applications for new technology platforms, such as Windows 7, and to continue to monitor their applications on an ongoing basis to manage and monitor their application portfolio risk.â€ť
AppRx version 2.0 was launched in January 2012. Funding from Anges QuĂ©bec and Maple Leaf Angels will help Futurestate IT continue to grow and to forge commercial partnerships aimed at quickly marketing its product in the US and Europe. As Anges QuĂ©bec investor Nathalie Marcoux noted, â€śThe Futurestate IT management team has solid experience running a company. Its members clearly know their market, and are extremely dynamic. They are also backed by a stellar board of directors that is well-versed in informationÂ technologies.â€ť
â€śFuturestate IT caught our attention for two reasonsâ€ť, according to Maple Leaf Angels investor Tim Lett. â€śFirst, they are on the cutting-edge of cloud computing.Â That means thereâ€™s no hardware or software to install and customers can be up and using the system in a matter of hours, which is a completely new paradigm in enterprise application management. Second, AppRx automates what are traditionally very manual and error-prone processes, which translates into an extremely compelling business case.â€ť
FranĂ§ois Gilbert, President and General Manager of Anges QuĂ©bec, added, â€śFor Anges QuĂ©bec, this investment marks another milestone in our development. This is the first time that weâ€™ve invested jointly with another member of North Americaâ€™s 350 Angel groups.â€ť
About the Maple Leaf Angels
Funding Ontarioâ€™s most promising new companies, Maple Leaf Angels is an experienced group of private investors looking for great entrepreneurs, great products and great companies to support. By bringing together investment, experience and a large network of contacts, we help companies to become market leaders in their industry.
For more information, go to www.mapleleafangels.com
About Anges QuĂ©bec
Anges QuĂ©bec is a network of 85 private investors that identifies, finances and coaches innovative QuĂ©bec enterprises with high growth potential. Anges QuĂ©bec members invest their capital and expertise in the most promising start-up companies. In this capacity, Anges QuĂ©bec works closely with a number of QuĂ©bec leaders in the development and growth of technological innovations.
For more information, go toÂ www.angesquebec.com
An French version is available online at www.angesquebec.com/en/nouvelles
To keep track of news and activities, join Anges QuĂ©bec on LinkedIn.com.