Boston, MA USA - January 13, 2023: Canvas GFX, Inc, the leading provider of interactive digital work instructions software to manufacturing ecosystems today announced that it has closed a $9m Series A-1 funding round led by eCoast Angels and Mendoza Ventures.
Driving Growth
The raise positions Canvas GFX to drive rapid growth for its interactive digital work instructions solution, Canvas Envision. Existing customers of Envision include Aerospace & Defense disruptor and autonomous vehicle manufacturer Anduril, automated logistics provider Zipline, and rail manufacturer Amsted Rail.
Envision provides a single, easy to use solution that enables customers to build end-to-end interactive and multimedia digital instructional experiences, blending 2D illustration, 3D model animations, audio and video content, and interactive 3D models. Customers can choose between hosted and self-hosted (private cloud or on-premises) deployments, with integration into existing platforms including PLM, Learning Management, Document Management, and MES.
Manufacturing Industry Expertise
This latest investment round also provides an opportunity to bring additional manufacturing industry expertise to the Canvas GFX Board of Directors. The new Board will be chaired by Peter Schroer, who founded cloud PLM provider Aras and led the firm to a significant growth investment by GI Partners in 2021.
“I am thrilled to have closed this investment round, particularly at a time when many start-ups are finding it a challenge to raise,” said Patricia Hume, CEO, Canvas GFX. “I would like to thank our previous board, who assisted us greatly in our progress to date, and were gracious in their recognition of our need to bolster the board’s sector expertise. I would also like to extend my thanks and welcome to our new investors and board members. We have built great traction for Canvas Envision, and we are now poised to accelerate penetration into our target markets.”
Market Demand
Incoming Chairman of the Board, Peter Schroer, said: “Canvas Envision delivers a unique set of capabilities for which there is clear market demand. For many manufacturing companies, critical documentation such as work instructions, MRO manuals, and training materials are created and delivered in ways that are inefficient, outdated, and detrimental to the wider company performance. I am delighted to be joining the Canvas journey and I look forward to helping the company achieve its clear potential.”
About Canvas GFX
Canvas GFX provides solutions for creating and consuming visual, multimedia, and interactive content used to train and instruct manufacturing production workers, product users, and MRO teams. Canvas Envision delivers unrivalled visualization and illustration functionality that enhances the efficiency and effectiveness of existing documentation workflows while powering the transition to fully interactive instructional and training experiences which drive measurable top- and bottom-line impact.
