Fortem secures a $1.43M investment for 3D security system
Montreal-based security firm Fortem has secured an investment of $1.43 million 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 $500,000 with an additional $525,000 contributed by individual members of Anges Québec including Jean-Guy Gourdeau. To maximize its rate of growth, Fortem’s current round of funding remains open to an additional $2.1M of investment until February 2nd, 2013.
Fortem provides a 3D software-based security integration platform, Omnipresence 3D, which enables security managers and police departments to unify disparate security systems and databases into a common 3D interface. Fortem’s clients include large enterprise, transit systems, universities, and the defense departments of allied countries.
The company says that 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.
“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,” said Christian Laforte, President and CEO of Fortem. “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.”
Fortem has filed two patents in 15 countries for its advanced algorithms, adapted from the video game industry. Before entering the security industry, Fortem developed 3D software for clients including Google and the Canadian Space Agency.
Jean-Guy Gourdeau, the angel investor who led the project for Anges Québec, said, “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.”