logo
Log in using TwitterLog in using Facebook Forgot login?Register
News & Features Envista raises $4.1 million from a group of seven investors but aims for $7.6m

Envista raises $4.1 million from a group of seven investors but aims for $7.6m

Written by Entrepreneur Country on Wednesday, 01 December 2010 23:11
Rate this item
(0 votes)

Envista Corporation, a world leading provider of map-based coordination for smarter, safer streets, has announced it has secured $4.1M from seven investors toward a $7.6 million equity-based funding round. The company's initial investors included New England-based Borealis Ventures (Hanover, NH), Egan-Managed Capital (Boston, MA), and Point Judith Capital (Providence, RI). Envista will leverage the capital to fund business expansion and product development to meet global demands to manage new and existing infrastructure assets in towns and cities worldwide.

In the third quarter, Envista's customer growth rate increased by 30% over last FYQ3. In the same period, Envista's Smarter Streets web solutions reached a new milestone, now hosting information on more than 100,000 projects underway in the U.S. and Canada. Among the many new customers added this fiscal quarter, Envista is pleased to now be working with the cities of Norfolk, Va. and Portsmouth, Va., as well as the District of Columbia Water and Sewer Authority, Hampton Roads (Va.) Sanitary District, Pepco Holdings, Inc., City of Providence, and Shaw Communications. Among the customers renewing their subscriptions to Envista web solutions are the cities of Baltimore, Md., Lowell, Mass., Providence, R.I., Sacramento, Calif., and Washington, D.C., as well as the Providence (R.I.) Water Supply Board, Trigen-Baltimore Energy Corp., and Washington (D.C.) Gas.

"With this new round of funding, Envista is well positioned to expand business initiatives both domestically and abroad, while continuing to aggressively innovate customer-driven solutions that reduce project delivery time, save money, enhance the safety of streets and roadways, and minimize environmental impact." states Mark Prestipino, Envista CEO.

In July 2010, Envista introduced Smarter Streets, a suite of web modules that geo-locate on a dynamic map all activities occurring in the public right of way. The entities responsible for these activities can then manage and coordinate their respective projects, incidents and events to improve the performance and safety of streets and roadways. Envista's innovative web-run software also links planned or unplanned events to traffic management, and allows subscribers to access and share detailed information, including contact information, project and event schedules, conflicts, opportunities and more, all through a standard web browser.

Last modified on Friday, 14 January 2011 17:51
Entrepreneur Country

Entrepreneur Country

Have you enjoyed this or other articles on Entrepreneur Country? Please feel free to get in touch by emailing us at entrepreneurcountry@ariadnecapital.com or clicking the link below. On twitter or linkedIn? Follow us through our @encountry or our LinkedIn page

Website: www.entrepreneurcountry.com/community/profile/messages?task=new&recip=1481

Add comment


Security code
Refresh

Latest Comments

Community Coffee Lounge

Welcome to the Entrepreneur Country Coffee Lounge.

coffee_lounge

With a host of viral videos, games, cartoons and puzzles, its your time to relax.

entrepreneurcountry magazine

May                                                April
Click to view the full digital publication online                   Click to view the full digital publication online

Click here to view the latest issue of Entrepreneur Country Magazine with Charlie Mullins, Paddy Ashdown, Julie Meyer & more.

Related Media

Facebook/Twitter

Entrepreneur Country Polls

Did this budget help British Businesses or paper over the cracks?
 
 
Total votes: 8
Category: Better Business