Canvas GFX Secures Financing Led by Wisdom LLP

BOSTON, July 23, 2019 /PRNewswire/ -- Canvas GFX, a leading provider of graphics, illustration, and publishing software, today announces that the Company has secured funding from Wisdom LLP, a California-based consulting and venture capital firm.   The transaction, led by Wisdom LLP, is intended to raise $1M in the form of a note convertible to the Company's Series A financing, planned for later this year.  As part of this financing, Gary Griffiths, Wisdom LLP co-founder and managing director, will join the Canvas GFX board of directors. www.canvasgfx.com

Mr. Griffiths brings over 40 years of experience in the high-tech industry. Prior to founding Wisdom, he was CEO of iPass, where he led a successful exit through acquisition in February 2019. Griffiths has co-founded and led numerous Silicon Valley-based startups, and has held senior executive management positions in established technology companies, including president of Webex prior to the successful acquisition by Cisco.   He has been an active and successful angel investor in early stage companies, including Zoom, Janrain, Rackable, DataFox, and several others. A US Navy submarine veteran, Gary started his high tech career in IBM where he spent 16 years in executive management positions.   He has served on a number of public and private company boards, and currently advises private equity firms Parthenon Capital and Day View Capital.

"We're excited to partner with Wisdom LLP," said Bryce Tingle, chairman of the board, "and to have Gary join the board.  With the leadership of Patricia Hume as CEO, the experience Gary brings, and the funding to fuel our growth, we are confident that the Company can expand product offerings and accelerate revenue."

"The Canvas GFX team has done a remarkable job building a brand and recognition across a broad swath of blue chip enterprises," added Canvas CEO Patricia Hume.  "We're fortunate to have Gary's 'wisdom' on the team, and look forward to putting this new funding to work in building new product offerings while adding sales expertise."

"Canvas GFX is one of the most interesting and unique opportunities I've seen over my long career," said Griffiths.  "Rarely does one get the opportunity to invest in a company that is early stage, yet has a solid, customer-hardened product, stable revenue, and an enviable list of satisfied enterprise customers. I consider myself fortunate to play a role."

In addition to Mr. Griffiths' appointment to the board of directors, Canvas GFX also names Mark diTargiani as their new VP of Sales.  Mark is a top-level sales executive, speaker, and coach for over 20 years who successfully delivered consistent and robust top and bottom line results.  As a sales director at TriNet, Mark helped the company go public in 2014.  He spent the last few years running his own firm, helping startups build sales processes and salespeople while scaling revenue. 

"I am excited to join the team at Canvas. We have a unique opportunity to further serve our amazing customers as they build the material world.  Our strategy positions us into a growth trajectory that I am delighted to lead. I've always wanted to work with Patricia Hume and Gary Griffiths, and Canvas has a superstar core of engineers building our products."

About Canvas GFX
Canvas software is used by people to simplify documentation and the sharing of complex objects and systems. Many of the world's largest companies in the aerospace, defense and manufacturing industry use Canvas' all in one graphical design and technical illustration software as an integral part of their documentation workflow. 

About Wisdom LLP
Wisdom LLP provides both venture capital and consulting services to help companies achieve both their short and long term business objectives.  With a vast network of consultants across all business disciplines, Wisdom is uniquely positioned to work side by side with companies leveraging years of knowledge, experience and compassion to drive results.

Contact:

Patricia R Hume
[email protected] 
617 314 1783
www.canvasgfx.com

SOURCE Canvas GFX

Related Links

http://www.canvasgfx.com