NowVertical Group, a US-based company specializing in accretive data analytics software and services, is one of the latest new listings on the TSX Venture Exchange, trading under the symbol “NOW”, following its qualifying transaction with Capital Pool Company Good2Go Corp.
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I’m Megan Edwards for Investmentpitch Media
NowVertical Group, a US-based company specializing in accretive data analytics software and services, is one of the latest new listings on the TSX Venture Exchange, trading under the symbol “NOW”, following its qualifying transaction with Capital Pool Company Good2Go Corp.
The company recently closed a brokered private placement, raising gross proceeds of $8,394,000 from the placement of 8,394,000 shares priced at $1.00.
Echelon Wealth Partners acted as lead agent for the offering, with a syndicate that included Canaccord Genuity, Stifel Nicolaus Canada, and Haywood Securities.
The shares are trading at $1.13.
Daren Trousdell, CEO, stated: “Listing on the TSXV is an important milestone for NowVertical as we enter the public market with the goal of enhancing our visibility within the investment community and broadening our investor base to build long-term shareholder value.”
NowVertical was formed in September 2020 to provide data analytics software and services.
In November 2020, the company acquired a 49% interest in Seafront, a leading data analytics service provider to private and public sector clients.
By acquiring a minority interest, with an option to acquire balance of Seafront for US $1.00, Seafront is able to maintain its Veteran-owned Small Business status in the United States.
About the same time, the company acquired Signafire, which is best known for its industry-leading fusion and content analysis technology, which enables companies to fuse, access, and analyze data at an unprecedented speed and scale.
Initially developed for Intelligence Agencies and Special Operations Forces, Signafire’s technology has evolved to help companies in any industry find, identify, and accurately turn data into actionable insights, across nearly any public or private databases.
Sources can range from relational databases to third party APIs to internal files.
The company currently focuses on manufacturing/OEM and servicing government related contracts.
According to International Data Corporation, or IDC, investments in big data software and services spending is increasing at a 13.2% compound annual growth rate from the five-year period starting in 2019 onwards.
By 2022, IDC expects worldwide business analytics revenue will be US$274.3 billion.
Management believes NowVertical is well positioned to capitalize on this large market.
For more information, please visit the company’s website www.NowVertcal.com, contact Daren Trousdell, CEO, at 561-515-9010 or email daren@NowVertical.com.
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I’m Megan Edwards for Investmentpitch Media
