4TH ANGELS INVESTMENT IN AXES NETWORK
4th Angels investment in AXES Network, which completes a new round of over $2M
Quebec City, September 2nd, 2015 – Anges Québec is pleased to announce the participation of several of its members in the 4th round of financing of AXES Network, a Quebec company that has made its mark by developing a fully automated data collection and management system for casinos. In this round, which totals just over $2 M, the angels have invested $876 K and the Anges Québec Capital fund $750 K. AXES was also able to count on le Fonds FSIT and Fier Succès, including Gestion Allard et Dubé, to reach its goal.
AXES is a global supplier of Cloud technology in information management, management solutions and specialized applications for the casino industry. AXES products, solutions and applications aim to improve security and integrity in data collection and management, while offering tools to enhance operational and organizational efficiency. The company serves governments, casinos, OEM and route operators in over 20 countries.
Earle G. Hall, President and CEO of AXES Network, said: "This round of financing comes at a strategic time in our growth plan. Our very strong sales pipeline requires an injection of cash to sustain this growth. We are very grateful for the confidence that members of Anges Québec, Anges Québec Capital, the FSIT fund and Fier Succès in our business plan and our potential as a leader for our market segment."
Guy Gervais and André Dufour, the two angels who led this investment file at Anges Québec, confirmed: “We have confidence in AXES Network’s strong management team and in the business model that was presented to us. The company is experiencing accelerated growth and we are pleased to be able to support this new phase in its international roll-out."
About André Dufour
André Dufour is a chartered professional accountant with over 35 years of experience. He has spent the last 15 years in the infrastructure development market. André Dufour has actively participated in all aspects of the sector: development (including relations with the community and interveners), delivery, asset management, financing, equity investments, construction, operation and maintenance. The approximate value of projects carried out according to the P3 model has varied from $120 M to over $1.5 B.
About Guy Gervais
Guy Gervais has been president of Vulcain inc., a company specializing in environmental technological solutions. Under his management, the company was propelled to the top toxic and explosive gas detection companies and has stood out several times for its leadership, its technological innovation and its growth on the export markets. For over 25 years, Guy Gervais has been recognized as a top tier player in the innovative technologies industry.
About Anges Québec
Anges Québec is a network of over 165 private investors that identifies, finances and coaches innovative enterprises in a wide range of sectors and in all regions of Québec. So far, Anges Québec members have invested and reinvested in over 70 promising businesses in the seed and startup phases.
About the Anges Québec Capital Fund
Anges Québec Capital is an investment fund created to provide financial support to members of the Anges Québec network. The fund is mainly sponsored by Investissement Québec. the Caisse de dépôt et placement du Québec and the Fonds de solidarité FTQ, to support financial angels who invest in innovative seed or start-up companies in Quebec. The joint effort by the angels and sponsors has resulted in over $125 million being made available to entrepreneurs, allowing them to benefit from more substantial financial leverage in order to considerably increase the development of their business.
For more information on the Anges Québec network, visit www.angesquebec.com. Receive news about Anges Québec and its activities by joining our group on LinkedIn.com.
Earle G. Hall
President & CEO