Kirk Falconer | PE Hub – VS (Ca)
St. John’s, Newfoundland and Labrador-based energy technology company radient360 has raised a $3.3 million seed-stage financing. The round was backed by Canadian venture capital firm Build Ventures and Canadian private equity firm Killick Capital. Launched in 2011, radient360 provides a cloud platform that digitalizes work processes and creates data analytics for asset-intensive industries, such as oil and gas. The company, led by CEO Steve Taylor, is currently working with oil and gas operators and pursuing the first global deployment of its technology. It will use the funds raise to grow sales and product development teams and open a Calgary office.
Photo: Steve Taylor, CEO of radient360.
radient360 Inks $3.3 Million in Seed Funding From Build Ventures and Killick Capital
ST. JOHN’S, NF—Energy sector technology company radient360 today announced it has received a combined $3.3 million in seed funding from Build Ventures and Killick Capital Inc. The funding will be used to expand sales and product development teams and to open a new office in Calgary, Alberta.
St. John’s, Newfoundland and Labrador-based radient360 provides a cloud-based work execution platform that digitalizes work processes and creates powerful data analytics in support of asset-intensive industries such as oil and gas exploration and development.
“As a young company, we have made great progress to reach this point in our development. With this round of funding and the support of the bright minds at Build Ventures and Killick Capital, we expect to continue that success as we expand our operations,” said Steve Taylor, CEO of radient360.
The company has operational implementation within oil and gas operators and is presently pursuing the first international deployment of its technology.
“radient360 is a company on the move. Its proven products and strong track record of performance have earned it a loyal following. We look forward to working with them on the next steps in their growth trajectory,” said Patrick Keefe, a partner with East Coast venture capital firm Build Ventures.
St. John’s, Newfoundland and Labrador-based Killick Capital agrees with Keefe’s outlook. “radient360 has built a strong foundation in Newfoundland and Labrador’s oil and gas sector. Now they can take that insight and expertise into new markets around the world. We see great things ahead for radient360,” said Mark Dobbin, president and founder of Killick Capital.
About Build Ventures
Based in Atlantic Canada, Build Ventures manages a $65 million venture capital fund that provides early stage capital to technology companies. The focus is on companies in information technology, clean technology, life sciences and other high-growth sectors. Find out more at buildventures.ca
About Killick Capital
Killick Capital Inc. is a private equity investment firm headquartered in St. John’s, Newfoundland and Labrador. It invests primarily in venture businesses, aerospace business and Newfoundland & Labrador businesses. Find out more at killickcapital.com
For further information:
VP Innovation and Strategy, radiant360
(709) 325 7278.