Vancouver-based Safetec Compliance Systems Inc. has secured another round of investment, raising 76 percent more than targeted from angel investors, the company said Tuesday.
After targeting $1.25 million, the company, which sells Web-based software that helps businesses record and track data on the chemicals they use, raised $2.2 million.
“We are happy to add to Safetec’s community of investors,” said Jim Frohlich, the company’s president and chief investment officer, in a news release. “With this capital infusion and Safetec’s continuing delivery of new technologies and services, we expect to return to our historical pattern of growing sales in excess of 50 percent per year.”
