On October 28, 2020, Canvass Analytics announced the completion of its US$6.5 million Series A financing round. The round was led by Yamaha Motor Ventures and included Real Ventures, the Business Development Bank of Canada, Export Development Canada and Viaduct Ventures. The funding will be used to grow the company globally by expanding its go to market efforts, accelerating product development and supporting the company’s customer base. The funding will also be used to grow the company’s team and reach new customers.
Canvass Analytics is a Toronto based software firm specializing in using AI industrial advanced analytics to transform operations teams on a global scale. Canvass’ no-code platform uses the benefits of AI powered data analysis to simplify the process of building, training and scaling applied industrial AI in daily operations.
Osler, Hoskin & Harcourt LLP advised Canvass Analytics with a team consisting of Chad Bayne, Michael Grantmyre, Kosta Starostin and Scott Lin (Emerging and High Growth Companies).