$45 Million Investment In Innovmetric To Support Digital Transformation Growth
InnovMetric is starting a new chapter in its history. The multinational company, which is celebrating its 30th anniversary in business this year, welcomes its very first financial partner. The Fonds de solidarité FTQ is joining the company with a $45 million dollar investment to support its long-term growth perspective becoming shareholders of the company specializing in 3D measurement software.
InnovMetric specializes in the design of 3D measurement software at the heart of verifying the compliance of manufactured parts, allowing perfect assembly as well as a significant reduction in rejected parts and product time-to-market. Whether it is for cars, household appliances, or smartphones, InnovMetric’s PolyWorks solutions are essential for many everyday objects.
Having built a reputation for excellence with each of the world’s 100 largest manufacturers, the Québec City-based company has established an unwavering presence in 18 countries and has more than 650 employees and 23,000 clients.
Firmly rooted in Québec City, InnovMetric has found a strong ally to begin the next stage of its development. The Fonds de solidarité FTQ is the largest development capital investment network in the province of Québec. Its mission, which aims to contribute to socio-economic growth for the benefit of workers and businesses, is perfectly aligned with the values that drive Marc Soucy, President and co-founder of InnovMetric.
“We are very proud to promote Québec expertise to our 23,000 clients in more than 100 countries. We rely a lot on the people who work with us and it is important for me to ensure the sustainability of the company and its quality jobs here in Québec.” commented Marc Soucy, President and co-founder of InnovMetric.
“This announcement with the Fonds de solidarité FTQ network allows us to join forces with a strong financial partner that will support us in our next phase of growth. This growth will be driven by our digital transformation solutions for 3D measurement processes, which enable our clients to make better product lifecycle decisions, foster greater collaboration, and ultimately, increase profitability,” said Marc Soucy, President and co-founder of InnovMetric.
“Québec City is now a world leader in software thanks to the expertise in 3D measurements developed by InnovMetric over the past 30 years. We are proud to support the growth of this company, which counts the world’s largest manufacturers among its clients. The culture of innovation that is promoted by Marc Soucy and the entire InnovMetric team shines around the world,” added Saloua Benkhouya, Vice-President, Private Equity and Impact Investing at the Fonds de solidarité FTQ.
With net assets of $18.9 billion as of November 30, 2023, the Fonds supports more than 3,700 companies through venture and development capital investments.
For more information: www.innovmetric.com
