Recipient: ThoughtWire Corp.
Program: Investing in Business Innovation
Total funding allocated: $955,000
Thinking differently is at the heart of every innovative idea. For Thoughtwire Corp., it was a vision that digital software could work the same way people’s minds do—continually thinking, reacting and monitoring the changing environment. This quickly became the foundation for the Toronto-based software company, and from this concept the question rose: What would it be like if a workplace’s digital infrastructure could communicate directly with its staff?
The solution is Ambiant—a software designed to strategically connect employees with each other and their surroundings through their phones, tablets and other digital devices, providing relevant updates and directives as notifications on their screens. Developed with support from FedDev Ontario’s Investing in Business Innovation initiative, Ambiant is changing the way hospitals operate and, most importantly, has improved patient care in critical situations, such as code blue emergencies. Through Ambiant technology, hospitals can become a thoroughly interconnected world where healthcare teams are—with one glance at their devices—fully aware of the situation occurring around them and ready to respond as required.
“We are able to equip organizations with the tools to leverage the full potential of their people, data and devices through intelligent automation and real-time communications,” says Mike Monteith, Co-Founder and CEO for ThoughtWire Corp.
The specialty software has also become a key part of the building operations field, providing monitoring functions for commercial buildings in order to perform maintenance at optimum times. Due to the effectiveness of Ambiant, demand is continuously increasing and ThoughtWire is thriving on this momentum.
The path from idea to concept was made much easier with the support of Agency funding, which helped increase ThoughtWire’s staff from six to over 50 employees. The support opened new doors as well by helping to attract $6 million in capital investment, all of which, according to Monteith, has prepared the company for future economic growth.
“FedDev Ontario has been instrumental in our success, allowing us to grow from pre-revenue to over $6 million annually as a result of employee growth, building on product-market fit and added capital,” says Monteith. “We are continuing to explore new market opportunities and are so grateful for this opportunity to thrive and grow.”
Since its beginning in 2009 as an emerging start-up tech company, ThoughtWire has definitely found its stride, garnering worldwide recognition from prominent firms such as Gartner and Frost & Sullivan. In fact, it was the only Canadian company featured in Gartner’s 2016 annual report of cool vendors in the healthcare provider category. And, in an increasingly digital world, ThoughtWire is representing southern Ontario in a momentous way, helping to steer this region towards a prosperous tomorrow.