# Coreworx

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/coreworx

- Industry: Software
- Headquarters: Kitchener, Canada
- Website: www.coreworx.com
- Total disclosed funding: $8.4M
- Latest round: Series B (Dec 23, 2005)
- Investors on record: 6

## About

Coreworx, Inc. excels in providing specialized information management software for project and asset operations, facilitating enhanced efficiency and accuracy in complex engineering and construction contexts.Coreworx, Inc. was founded in 1997 in Kitchener, Canada, focusing on developing software solutions for project and asset management. The company has undergone strategic adjustments but remains focused on its core mission. Matthew M serves as CEO, guiding the company through its operational strategies. In August 2008, Coreworx, Inc. was acquired by Acorn Energy, with financial details undisclosed. The company has raised a total of CAD 1.400 mn, primarily through its latest funding round, Series B, supported by investors including BEST Funds, Roynat Equity Partners, and Tech Capital Partners.Coreworx specializes in information management software tailored for projects and asset operations. Its primary offerings include document control software, interface management systems, project controls, and crew management solutions. These products enable organizations to manage critical business documents, optimize crew scheduling based on skills and availability, and ensure compliance with industry standards. Coreworx’s solutions cater to a diverse clientele across sectors engaged in capital projects and asset operations, such as engineering, construction, and energy, with a strong presence in North America, Europe, and the Asia-Pacific regions.Coreworx generates revenue through a structured model focusing on partnerships and subscriptions. Clients subscribe to its software solutions that support long-term project management needs. The company primarily operates on a B2B basis, with organizations investing in software licenses to access the full suite of Coreworx’s capabilities, including Proarc Document Management Software and Mpower Project Controls Software. This revenue model allows flexibility and scalability, adapting to the various requirements of clients managing complex assets.Looking ahead, Coreworx plans to advance its product line with upcoming launches, though specific details on new products and release dates remain undisclosed. The company aims to expand its market reach, particularly targeting growth in regions such as Europe and Asia-Pacific by 2025. The recent funding from the Series B round, totaling CAD 1.400 mn, will be utilized to support these initiatives and enhance development efforts in its software offerings.

## Funding rounds

- Series B, Dec 23, 2005, $1.2M — Tech Capital Partners, Roynat Equity Partners, BEST Funds
- Series B, Apr 4, 2005, $7.2M — BDC Capital, Covington, VERDEXUS

## Investors

- BDC Capital (https://capitalatlas.ai/funds/bdc-capital) — Series B
- Covington (https://capitalatlas.ai/funds/covington) — Series B
- VERDEXUS — Series B
- Tech Capital Partners (https://capitalatlas.ai/funds/tech-capital-partners) — Series B
- Roynat Equity Partners (https://capitalatlas.ai/funds/roynat-equity-partners) — Series B
- BEST Funds (https://capitalatlas.ai/funds/best-funds) — Series B