# Librestream Technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/librestream-technologies

- Industry: Software
- Headquarters: Winnipeg, Canada
- Website: www.librestream.com
- Total disclosed funding: $24M
- Latest round: Series D (Jun 24, 2020)
- Investors on record: 5

## About

Librestream Technologies Inc. is a Canadian firm specializing in advanced digital solutions for the industrial sector, aiming to enhance operational efficiencies through innovative AI-driven platforms.Founded in 2003 in Winnipeg, Canada, Librestream Technologies develops cutting-edge AI solutions for industries. The company was co-founded by Kent Wotherspoon and Kerry Thacher. The firm raised USD 24.00 mn in its Series D funding round on February 9, 2021, led by the Canadian Business Growth Fund, with participation from BDC Capital, Emerald Technology Ventures, Export Development Canada, and Pender Ventures. This funding supports its growth in industrial digital transformation.Librestream Technologies specializes in delivering advanced digital solutions for the industrial sector through its flagship product, the Onsight NOW platform, which incorporates the Industrial Digital Assistant (Ida)™. This enterprise AI platform enhances self-service knowledge access for frontline workers by providing real-time access to critical information, effectively reducing the time spent searching for answers. The platform integrates cognitive search capabilities along with generative AI to capture and disseminate institutional knowledge held by experienced professionals, thus improving operational efficiency and productivity. The primary end users include Fortune 2000 companies across various industries, particularly in North America, Europe, and Asia, such as Pratt & Whitney and Rolls-Royce, who utilize these solutions to enhance their field service and operational workflows.Librestream Technologies operates primarily on a subscription-based revenue model, enabling clients to access its enterprise AI solutions through annual or multi-year contracts. The company's transactions typically involve partnerships with large-scale enterprises that integrate the Onsight NOW platform into their operational frameworks. These B2B transactions allow clients to leverage the platform's capabilities for enhancing productivity, reducing costs, and improving the speed of service resolutions. Specific pricing plans for their services have not been disclosed, but the revenue structure is based on the scale of implementation, number of users, and level of service features utilized, particularly focusing on the features offered by the Industrial Digital Assistant (Ida)™. This approach enables Librestream to customize offerings based on client needs, fostering long-term collaborations with industry leaders in various geographical markets.In February 2021, Librestream Technologies Inc. raised USD 24.00 mn in its Series D funding round, with Mr. John Bishop remaining as CEO. The funding will be utilized to accelerate digital transformation within the energy sector. Librestream aims to launch new products designed to further enhance operational efficiencies, focusing on expanding its reach into new markets in North America, Europe, and Asia by 2023.

## Funding rounds

- Series D, Jun 24, 2020, $24M — BDC Capital, Export Development Canada, Emerald Technology Ventures, Pender Ventures, Canadian Business Growth Fund

## Investors

- BDC Capital (https://capitalatlas.ai/funds/bdc-capital) — Series D
- Export Development Canada — Series D
- Emerald Technology Ventures (https://capitalatlas.ai/funds/emerald-technology-ventures) — Series D
- Pender Ventures (https://capitalatlas.ai/funds/pender-ventures) — Series D
- Canadian Business Growth Fund (https://capitalatlas.ai/funds/canadian-business-growth-fund) — Series D