CONTROL SECURES $1.5M IN SEED FUNDING
Funds earmarked for talent acquisition and product development
VANCOUVER, BC (June 9, 2015) – Control, a management and analytics platform for online payments, has successfully closed an oversubscribed seed round of $1.5 million, led by Vanedge Capital and BDC Capital Inc.
“Vanedge is interested in the mobile payment analytics space and after much due diligence we believe Control has the most robust offering on the market today,” said Amy Rae, principal of Vanedge Capital. “We’re excited to see them grow their customer base with this injection of funds.”
Control empowers online business owners to monitor, measure, and manage their online payments from
one dashboard, and offers the only payments analytics available on both iOS and Android. The company has acquired its biggest competitor, quadrupled its workforce, and was named among the coolest female-founded startups by Product Hunt.
“Having seen significant and sustained growth since day one, we are now expanding our product to encompass the multiple, relevant form factors our customers are asking for,” said Kathryn Loewen, CEO and Founder. “Businesses want access to relevant information within specific contexts. Control allows you to keep your finger on the pulse of your business and be in control of the most critical functions, from any location and any device.”
Some of the updates in the works include real time notification on payment activity via Apple Watch, snapshot summaries and more operational tools via Control’s iOs and Android apps, advanced analytics and customer management via iPad and web.
The company has drawn comparisons with another Vancouver success story, often being referred to as the “Hootsuite of online payments” (Hootsuite CEO Ryan Holmes is an investor and advisor). To date, Control has helped 20,000 businesses across the world and has forged a strategic partnership with Stripe.
The funding marks a transformative period for Control as it welcomes to its Board of Directors Rae (Vanedge), Laurie Wallace (Recon Instruments) and Tony VanBrackle (angel investor). The company has also appointed Ian Walker as COO. Walker lead engagement and growth initiatives with Invoke Media, Perch, and Hootsuite Media Inc. Control has designated Ryan Creamore as Director of Business Development, who brings a strong network-driven sales track record for notable companies including iATS Payments and Rogers.