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Montreal-based software developer Fortem secures angel investments

16 Nov 2012

Montreal-based software developer Fortem has secured an investment of $1.43m from seven members of the Anges Québec group, the Anges Québec Capital fund, and other private investors.

Of the investment raised, the Anges Québec Capital fund contributed C$500,000 with an additional C$525,000 contributed by individual members of Anges Québec including Jean-Guy Gourdeau. The company’s current round of funding remains open to an additional C$2.1m of investment until February 2013.

Fortem provides a 3D software-based security integration platform. Its clients include large enterprise, transit systems, universities, and the defense departments of allied countries.

The financing from Anges Québec and the Anges Québec Capital fund will enable Fortem to increase its international sales operations and continue to develop patented technologies, said said Christian Laforte, president and CEO of Fortem.

“With this round of investment, we will be well positioned to meet demand and become a leader in this market, projected to exceed half a billion dollars by 2015.

“We appreciate the support that Anges Québec has shown us, through their investment as well as through their network of successful entrepreneurs, which amplifies the potential of innovative companies like ours.”

Jean-Guy Gourdeau, the angel investor who led the project for Anges Québec, added, “These are entrepreneurs with a clear vision of what they want to accomplish. They have been able to
develop and push their technology very far, possessing an excellent understanding of the market they are addressing.”

Anges Québec is a network of 110 private investors that identifies, finances and coaches innovative Quebec enterprises with high growth potential.

Earlier this month, AltAssets reported that venture capital activity in Quebec maintained its trajectory in the third quarter with C$112m in investments.

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