british-columbia-cloud-services-provider-201804
Project Description:
Amount Funded: $500,000
Amount Funded: $500K - $1M
Industry: Software Development
Province: British Columbia
Type of Facility: SR&ED Financing
Days to Fund: 17
Use of Funds: The company needed to hire more people in business development and engineering. Because its solution appeals to multiple industries, the market potential is enormous, but so is the cost of scaling the revenue. The SR&ED financing bridge loan it received from Venbridge was provided with multiple draws and helped the company manage cash flow while hiring more people.
Company Background: This software development company delivers enterprise-grade cloud spaces. While traditionally a cloud migration can take almost 24 months, today these guys can deliver an environment in less than 24 hours.
