VEERUM raises $7.4 million in growth capital to expand its global presence

On February 3, 2021, VEERUM announced a $7.4 million Series A funding round led by BDC's Industrial Innovation Venture Fund and Builders VC. 

VEERUM is a software-as-a-service (SaaS) provider in the industrial asset visualization space, providing a secure cloud-based web solution that enables data transparency across the entire asset lifecycle. This new funding enables VEERUM to expand into new global markets. VEERUM's clients are accelerating the transition to digital asset ownership to effectively build and maintain the world's critical infrastructure.

BDC Capital is the investment arm of BDC, the bank for Canadian entrepreneurs. BDC invests in companies and entrepreneurs who are accelerating the transformation of core Canadian industries that form the backbone of the national economy, including agriculture and food technologies, resource extraction technologies and advanced manufacturing.

Gowling WLG advised BDC Capital with respect to this investment with a team that included Derek Keay and Jason Mullins.