Energy Tech Disruptor IronSight ‘Muscles Up’ with Raise during Tech Downturn

By Globe Newswire Published on December 9, 2022, 19:30 IST

While much of the tech industry struggles in response to collapsing equity markets, SaaS provider IronSight is doubling down on growth, US expansion, and hiring top talent

EDMONTON, Alberta, Dec. 09, 2022 (GLOBE NEWSWIRE) — IronSight announced today the successful close of a raise led by ARC Financial to recruit top talent from the tech sector as they continue their expansion into the US market.

While many tech companies are facing layoffs and struggling to raise capital, energy tech provider IronSight has found themselves in a unique position – in need of a bigger team to support increased demand for their field logistics and operations workflow platform. After a recent influx of opportunities in the US, IronSight set out to raise capital to expand their team and bring on strategic investment partners. Among IronSight’s new investors are some well known names in the energy and tech sectors, such as Scott Saxberg, Patrick Elliott, Michael Kanovsky, Dr. T. Chen Fong, and John Rossall.

“We knew the technology equity raise conditions were tough, but we believed in our platform and the culture we have at IronSight,” explains Shawn Martens, IronSight Co-Founder and President. “That belief has proven time and again to be well deserved. We’ve put in a lot of hard work planning our approach, building an exceptional product, and generating momentum. Investors quickly saw the value in where we are heading and what we are delivering for our clients. As a result, we ended up materially oversubscribed, which put us in a position where we could really be strategic about who we brought on.”

With a successful raise in the rear-view mirror, the “vac-truck company turned software provider” is now setting their sights on recruitment. Their first order of business – attracting the very best talent that the US and Canada has to offer. The upcoming hiring push will seek to add 16 new positions, with the bulk of new hires being brought on into Engineering and Revenue Operations roles.

“One thing that we feel really gives us a competitive advantage is our culture and our people,” says Adam Jessome, IronSight Co-Founder and VP of Product. “IronSight isn’t some tech company that built a solution and then went to find a market for it. Our product was built from the field up by people who know what it’s like to be out in the middle of nowhere, knee deep in their work with nothing but the right tools and a dedicated team at their side. The only difference now is we’re in downtown Edmonton, elbow deep in code.”