Connectus Global closes venture funding round from Texas based CSL Ventures
Canadian based Connectus Global (Connectus), a leader in real-time location tracking, worker safety, productivity and process automation solutions for energy, industrial and mining sectors closed its Seed Round of financing led by Houston, Texas based CSL Ventures, the venture capital arm of energy services private equity firm CSL Capital Management.
Identifying growing industry needs for workforce safety assurance and improved efficiency, the company intends to use the capital to support the rapid market expansion of its suite of digitized workforce management product offerings.
Connectus is leveraging digital technologies for improved safety and productivity in the work place, and is enabling the industry by providing a range of products such as advanced Ultra-Wideband real-time location tracking systems, document digitization and electronic permitting for identity, access and certification of data, and business continuity solutions for facilitating safer operations and a streamlined return to work.
The company's systems automate manually-intensive facility oversight and data administration processes, and reduce operating costs and risks, especially in hazardous environments such as refineries, petrochemical plants, mines, manufacturing facilities. With a focus on industrial data security and shareability requirements, Connectus is also partnering on a project to employ blockchain networks and applications as the foundational infrastructure for its systems.
Mike Anderson, the CEO of Connectus noted: "In the current global environment, enhanced digital connectivity is the key to a stronger industrial recovery. Our digital workforce management tools were created to solve major industry safety challenges that were high priorities before the pandemic and are even more critical to the economic stability in the current environment. The future of industry is connected and we provide holistic solutions that vertically integrate access to essential worker data from site operations and the IT division up to corporate management. CSL Ventures' deep domain knowledge and broad industry network is what initially attracted us towards them. Throughout our interactions, it was obvious that they have a very hands-on approach towards investing and in supporting their portfolio companies and we are truly excited to embark upon this journey with them."
"Connectus is an exciting company founded by a team with strong field-level experience, subject-matter expertise and deep understanding of customer pain points," said Abhinav Jain, Vice President at CSL Ventures and a new member of the Connectus board. He added, "We were impressed by the strong distribution channel that Connectus has built and the customer traction that it has achieved in a short time, and we are delighted to support the team in their mission to become the preferred supplier of digitized workforce management and business continuity solutions."