Better Software Co. lands another $1M investment round

The Better Software Company just raised another $1 million. And, to be honest, no one is surprised anymore.

This latest round brings the Ottawa startup to nearly $5 million in funding in the past 12 months.

If pure dollars don’t excite you, Better Software was also just accepted into the Lazaridis 10, the first cohort of the Waterloo-based Lazardis Scale Up program.

Better Software chief operating officer Laurie Davis says the recent successes reaffirm the company’s path to growth.

“This new investment combined with acceptance into the Lazaridis program is validation of our accelerating trajectory into the small business management solution space,” he said in a statement.

The L-Spark grad focuses on the small and medium enterprise market, providing a SaaS solution for the daily grind of running a business, from email marketing to inventory and spreadsheets.

Since the release of its BPro and BPro Platform in March and September of this year respectively, and alongside the addition of its Android and iOS apps, the company says it has onboarded thousands of users and tripled its revenues.

“This software was created by someone who knows and understands the pain points of small business, and it was built to solve them,” said CEO Steve Cody in a statement. Cody knows those pain points as a serial entrepreneur who has been starting and running companies since he was 15 years old.

What do you do after raising a few million in a year? To give you some idea, after raising $1.6 million in April, Cody told the Ottawa Business Journal that the team was putting money towards developing a new health and predictive analytics tool called Sherlock designed to level the playing field for small business owners.