Envista Corporation announced it has secured $4.1M from seven investors toward a $7.6 million equity-based funding round. The company’s initial investors included New England-based Borealis Ventures (Hanover, NH), Egan-Managed Capital (Boston, MA), and Point Judith Capital (Providence, RI). Envista will leverage the capital to fund business expansion and product development to meet global demands to manage new and existing infrastructure assets in towns and cities worldwide.
In the third quarter, Envista’s customer growth rate increased by 30% over last FYQ3. In the same period, Envista’s Smarter Streets web solutions reached a new milestone, now hosting information on more than 100,000 projects underway in the U.S. and Canada. Among the many new customers added this fiscal quarter, Envista is pleased to now be working with the cities of Norfolk, Va. and Portsmouth, Va., as well as the District of Columbia Water and Sewer Authority, Hampton Roads (Va.) Sanitary District, Pepco Holdings, Inc., City of Providence, and Shaw Communications. Among the customers renewing their subscriptions to Envista web solutions are the cities of Baltimore, Md., Lowell, Mass., Providence, R.I., Sacramento, Calif., and Washington, D.C., as well as the Providence (R.I.) Water Supply Board, Trigen-Baltimore Energy Corp., and Washington (D.C.) Gas.
