Ottawa-based ProntoForms lands up to $750K in IRAP funding

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A growing Ottawa tech company announced Monday that its research and development efforts are getting a boost from the federal government.

ProntoForms (TSX-V:PFM), which develops mobile forms for companies to collect and analyze field data, said it has struck a deal to receive up to $750,000 from the feds’ industrial research assistance program (IRAP).

Glenn Chenier, the company’s chief product officer, said in a statement that the fresh federal funding will go towards building out its platform for the enterprise market. ProntoForms has found success in recent months targeting these enterprise customers – the company reported recurring revenues of $3.3 million in the second quarter of 2019, up 33 per cent year-over-year.

Chenier noted the IRAP funding will also allow ProntoForms to build out its R&D team over the coming years.