Vooban receives support from strategic investor CDPQ to fuel growth
September 20, 2023
By Manufacturing AUTOMATION
Quebec-based artificial intelligence services specialist Vooban welcomes CDPQ as its strategic investor. This is the company’s first external investment since it was founded 12 years ago.
Vooban shares in a press statement that this investment will support its growth, while, at the same time, underpinning its expansion plans, particularly in Ontario and the United States, both organically and through acquisitions.
“We are extremely enthusiastic about partnering with CDPQ in this next phase of our growth,” said Kevin Moore, company president and founder. “This strategic investment will enable us not only to continue providing first-class AI services to our customers but also to extend our reach into new markets.”
In June, Scale AI reportedly named Vooban as the Artificial Intelligence Service Company of the Year. The company shares that over the past few years, its revenues have grown by 50 percent per year, a pace that is set to continue.
In addition to its expertise in AI, Vooban has teams focused on programming, design, enterprise architecture, the Internet of Things (IoT) and cloud computing in order to support its clients in their digital transformation and deliver sizable efficiency gains, the company shares.
“Vooban has spent years deploying AI solutions in companies in Québec and across Canada. With CDPQ as our partner, we are convinced that we can make AI even more accessible to businesses and continue to position Vooban as a world leader in this field,” said Hugues Foltz, company vice-president and partner.
Headquartered in Québec City, it currently has 135 employees. It plans to support this expansion by growing its workforce by 30 percent over the coming months.
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