The Download: Canvas raises $4M from investors

Reston-based Canvas, a distributor of mobile applications for businesses, has added $4 million from investors to its coffers, executives planned to announce today.

Canvas functions similar to the Apple App Store. Third parties upload business-related applications, such as receipt generators and customer surveys, that companies then download. Firms can also build their own applications.

Founder James Quigley said the money would help the company to continue adding customers around the globe and partner with additional appmakers.

The latest investment marks the third round of financing for Canvas, which has taken in $8 million to date from such investors as Osage Venture Partners, which led the most recent round, and Motorola Solutions Venture Capital.

Canvas employs 25 people, Quigley said, with a goal of doubling that by year’s end. The firm opened an office in Sydney at the end of last year and plans to add a second international outpost, likely in London.

The company has also created a Web portal for users to store digital receipts and other documents from service providers, such as plumbers or repairmen, who use Canvas.

TrackMaven secures $1.25M from investors

District-based TrackMaven, a software upstart that helps companies monitor their competitors’ marketing efforts, is launching with $1.25 million from investors, the firm said last week.

Companies often market to customers through a mix of traditional and online channels. TrackMaven pulls all of those marketing efforts onto one platform, then assesses their effectiveness based on such metrics as “likes” on Facebook, shares on Twitter or impressions on the Web.

Founder Allen Gannett said the software helps to streamline a process that can often be difficult and time consuming when done manually.

Gannett experienced that challenge first hand, he said, as the former chief marketing officer at EmployInsight, an employee recruitment and engagement company.

“We’re not reinventing the wheel,” Gannet said. “We’ve just created a software to make the process better, faster, more reliable.”

Located in Dupont Circle, TrackMaven counts eight employees. Its initial customers include Martha Stewart Living and the NBA, among others.

The company has attracted $1.25 million from a slate of investors, including AOL Ventures. Others include EmployInsight chief executive Sean Glass, former Condaptive chief executive Hemang Gadhia and former Shutterstock president Adam Riggs.

Steven Overly covers the business of technology, biotechnology and venture capital in the Washington region for The Washington Post and its weekly Capital Business publication. In that capacity, he has written about start-up struggles, investment trends and major drug discoveries.
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Reston-based Canvas, a distributor of mobile applications for businesses, has added $4 million from investors to its coffers, executives planned to announce today.

Canvas functions similar to the Apple App Store. Third parties upload business-related applications, such as receipt generators and customer surveys, that companies then download. Firms can also build their own applications.

Founder James Quigley said the money would help the company to continue adding customers around the globe and partner with additional appmakers.

The latest investment marks the third round of financing for Canvas, which has taken in $8 million to date from such investors as Osage Venture Partners, which led the most recent round, and Motorola Solutions Venture Capital.

Canvas employs 25 people, Quigley said, with a goal of doubling that by year’s end. The firm opened an office in Sydney at the end of last year and plans to add a second international outpost, likely in London.

The company has also created a Web portal for users to store digital receipts and other documents from service providers, such as plumbers or repairmen, who use Canvas.

TrackMaven secures $1.25M from investors

District-based TrackMaven, a software upstart that helps companies monitor their competitors’ marketing efforts, is launching with $1.25 million from investors, the firm said last week.

Companies often market to customers through a mix of traditional and online channels. TrackMaven pulls all of those marketing efforts onto one platform, then assesses their effectiveness based on such metrics as “likes” on Facebook, shares on Twitter or impressions on the Web.

Founder Allen Gannett said the software helps to streamline a process that can often be difficult and time consuming when done manually.

Gannett experienced that challenge first hand, he said, as the former chief marketing officer at EmployInsight, an employee recruitment and engagement company.

“We’re not reinventing the wheel,” Gannet said. “We’ve just created a software to make the process better, faster, more reliable.”

Located in Dupont Circle, TrackMaven counts eight employees. Its initial customers include Martha Stewart Living and the NBA, among others.

The company has attracted $1.25 million from a slate of investors, including AOL Ventures. Others include EmployInsight chief executive Sean Glass, former Condaptive chief executive Hemang Gadhia and former Shutterstock president Adam Riggs.

Steven Overly covers the business of technology, biotechnology and venture capital in the Washington region for The Washington Post and its weekly Capital Business publication. In that capacity, he has written about start-up struggles, investment trends and major drug discoveries.
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