Ottawa’s Versature, which offers hosted telephone systems for small and medium-sized businesses, has secured a new round of financing worth $675,000.
The company, which employs 16 locally and counts online retail software giant Shopify amongst its clients, said the new money will help it to better market its products and possibly conduct an acquisition to help the firm expand.
“We believe this highly fragmented industry is ripe for consolidation and Versature intends to be a leader in this space,” said Paul Emond, the company’s chief executive officer.
The money will also help the company to expand its staff levels. Emond said Versature will be looking to hire at least five more people in the coming weeks.
The company said the latest round of financing was led by a local angel investor who doesn’t want to be named. Versature is privately held. Emond owns 80 per cent of the firm.
