Craig Adams (CT4)
Software vendor CT4 has finished a $12.5 million funding round to pursue its expansion strategy both in Australia and internationally.
CT4 CEO Craig Adams said the company — which was formerly known as Canopy Tools Group — is planning to move into the aged care and health sectors and claimed the completed funding round comes at a time where demand for software products that control and protect data was at a record high.
“The successful funding round is validation that the investment community shares our vision of making data use simple and helping businesses embrace the possibilities of technology by using their data creatively and intentionally,” he said.
CT4's current solutions include its data collection and control tool Canopy, private cloud service Stratus and automated Microsoft 365 data backup solution Cirrus.
The funding round was led by Australian investment and wealth management firm Shaw and Partners.
Currently, CT4 has a presence in Australia, New Zealand, Southeast Asia, the UK and the US.
The vendor’s successful funding round comes months after it acquired private cloud solutions provider NewBase Computer Services in October.
That acquisition also focused on CT4’s expansion efforts, with the company saying at the time that it was hoping to gain new customers and continue boosting its expansion across Asia Pacific and globally via the acquisition.
