Reston, VA (PRWEB) July 25, 2011
Canvas, which provides a mobile business application service that makes it easy to find, customize and publish business apps for mobile devices, today announced it has closed the first $1.2 million in a $1.75 million Series B funding round. The round was led by an investment from Motorola Solutions Venture Capital, the strategic investment arm of Motorola Solutions, Inc. (NYSE:MSI), which offers an industry-leading portfolio of mobile computing devices.
Ninety-five percent of an estimated 400 million mobile workers still rely on paper forms to conduct business. Canvas’ mobile application platform enables businesses to find, create, deploy and share mobile business applications that significantly reduce the need for paper forms and surveys, paper consumption and redundant data entry. Canvas’ cloud-based solution allows businesses of any size to quickly and cost-effectively shift from paper-intensive processes to data collection apps on smartphones, tablets, bar code scanning devices and other mobile devices.
Canvas enables mobile professionals to collect information using their mobile devices, analyze that data on the Canvas web site, and share information across their business community. In addition, Canvas has developed the first mobile business app store of its kind allowing business users to find mobile applications that work on a wide variety of mobile devices, with every application being customizable by Canvas users. The Canvas mobile app store now has more than 750 apps across numerous verticals, including transportation & logistics, healthcare, retail & wholesale distribution, government, education, hospitality and manufacturing.
“Canvas is well positioned at the epicenter of several shifts underway in the mobile business application market, including an increasingly mobile workforce and growing adoption of smartphones, tablets and enterprise digital assistant devices,” said Reese Schroeder, managing director, Motorola Solutions Venture Capital. “With a proven management team, differentiated product offering and a scalable go-to-market strategy we are confident Canvas will continue to gain rapid traction in a ‘mobile apps for business’ market just beginning to take off.”
Motorola Solutions Venture Capital (formerly Motorola Ventures), through a diversified portfolio, is focused on “new-idea” companies and opportunities that complement Motorola Solutions’ business strategy. It invests at all stages in developing companies to accelerate access to new technologies, new markets and new talents.
“The dramatic growth in adoption of mobile devices by consumers is now impacting the business user, causing organizations to rethink the old way of collecting data and interacting with employees, partners and customers. Canvas is enabling this shift by delivering a scalable business application service and partnering with organizations on the front line of change, including wireless carriers, content providers, smartphone/mobile device providers, and others in the mobile ecosystem,” said James Quigley, CEO and co-founder, Canvas, Inc. “The investment from Motorola Solutions Venture Capital and our Series B funders will allow Canvas to accelerate our already significant growth, continue to scale innovation, and empower more organizations to benefit from the shift to mobile business applications.”
About Canvas, Inc.
Founded in 2008, Reston, Virginia-based Canvas Inc. provides a mobile business application platform that makes it easy and affordable for businesses to find, customize and publish data collection apps for mobile devices. The firm’s mobile apps for businesses significantly reduce the need for paper forms and surveys, paper consumption and redundant data entry. Canvas’ cloud-based solution and business app store allow businesses of any size to quickly and cost-effectively shift from paper-intensive processes to data collection apps on smartphones, tablets, bar code scanning devices and other mobile devices. For additional information on Canvas, visit http://www.gocanvas.com.