A B.C. tech startup that aims to be a “remote control for your business” has locked up investors as it pursues major growth over the next year.
Vancouver-based Control announced June 9 it’s landed $1.5 million in seed funding in a financing round led by Vanedge Capital and BDC Capital.
“We started with a mobile-first strategy, so I believe there’s a huge opportunity to produce business-relevant analytics and metrics in a native mobile format,” CEO and founder Kathryn Loewen told Business in Vancouver.
“With the platform play — and this is what we’re going to be using the capital injection for — we’re going to be building out even broader tools.”
Control’s mobile app allows merchants to monitor payments in real time and respond to suspicious activity such as fraud and chargebacks.
Loewen said the expanded platform would provide clients with deeper businesses analytics.
The app was originally developed for Android before Control bought out its iOS competitor and made its tools available to Apple (NASDAQ:AAPL) users.
In addition to the expanded platform, Loewen said the seed funding would go toward expanding its business development and marketing presence.
Control recently added its first business development director to its roster of 10 full-time employees and Loewen said she’s looking to add more “good talent” to the office.
“We’ve got a pretty aggressive road map that we’re rolling out over the next year,” she said, adding the goal is to have 100% revenue growth year-over-year and boost its userbase by 30% each month.
“We’re kind of like a remote control for your business. So if you’re skiing at Whistler, on the golf course, trying to catch a flight, you’re going to have in your hands the key metrics and key tools you need to make quick decisions.”
