February 9, 2023 - LONDON ON - FOR IMMEDIATE RELEASE
Factory Bucket secures investment from 519 Growth Fund to accelerate growth of Cohesiv, a revolutionary no-code software tool for the manufacturing industry.
Factory Bucket Inc. and the 519 Growth Fund are thrilled to announce a $200,000 investment deal that will allow Factory Bucket to accelerate the already impressive growth of their latest product, Cohesiv (cohesivapp.com). This latest investment brings the total funds raised to $1.3M for Factory Bucket, which launched Cohesiv in late 2022.
Since their start in 2016, Factory Bucket has helped their clients save tens of millions of dollars by eliminating inefficiencies and visualizing production data. Until now, they’ve done so using traditional software development processes and engineers, delivering solutions in months and years. With Cohesiv, anyone with a working knowledge of spreadsheets and a good understanding of the problem at hand can build enterprise ready software solutions in weeks and days.
“For years, manufacturers have been handcuffed by awful software their employees cope with,” said David Uram, Factory Bucket’s CEO. “Vendors offload much of the configuration and implementation to high priced consulting firms — until now. With Cohesiv’s no-code technology, we can fill the gaps left by legacy ERP software in areas such as production, maintenance, and supply chain management. We can do it for a fraction of the cost and time investment compared to these traditional options.” On the topic of the inspiration for Cohesiv: “It struck me as ridiculous talking to subject matter experts and job shop managers who’ve spent small fortunes in software implementations over the years, yet they’re still managing their shop floor with a whiteboard or single spreadsheet. It’s our mission to improve and revolutionize production managers’ and front line production staff’s experience.”
“We started 519 to help promising companies in our region cross the entrepreneurial chasm and realize sustainable growth,” said Brian Foster, a General Partner at the 519 Growth Fund. “In addition to growing a great company right here in London, Factory Bucket’s Cohesiv technology stands to help our Southwestern Ontario manufacturing sector in a similar manner. Just look at the impact they’ve made already in a few short years,” Foster offered in referring to the local companies already singing Factory Bucket’s praises.
About Factory Bucket:
Factory Bucket is a London, Ontario based software development firm focused on delivering the Cohesiv app solution to customers in the manufacturing, warehousing, and logistics industries. Factory Bucket offers products and services designed to accelerate digital transformation for organizations of all sizes, aligned with the “Industry 4.0” movement.
For more information, contact:
David Uram, david.uram@factorybucket.com
John Galbraith, john.galbraith@factorybucket.com
About 519 Growth Fund:
519 Growth Fund invests in early-stage, growth-focused companies that are technology-enabled with demonstrated recurring revenue, market acceptance, and a defensible market position. 519 seeks to provide early seed investment using a hands-on approach to reduce risk through our experience, network, and long-term vision.
For more information, contact:
Brian Foster, brian.foster@519growthfund.com
