CARLSBAD, Calif., Dec. 22, 2014 /PRNewswire/ -- West Partners,
a San Diego area investment firm,
completed a follow-on investment in NoteVault, Inc., a San Diego-based provider of innovative
voice-to-text-based mobile reporting solutions for the engineering
and construction industry. The investment comes after West
Partners made its original investment in NoteVault in February of
2014. Terms of the investment were not disclosed.
"NoteVault is executing on the plan laid out prior to our first
investment," said Art McGill, Vice
President of West Partners. "There is an opportunity for
Peter Lasensky and his team to
accelerate growth beyond our original plan, and this additional
capital will enable their progression."
NoteVault offers construction companies a cloud-based
subscription solution that enables users to post real-time notes
throughout the day by typing, texting, or speaking into a mobile
device, such as a smartphone or tablet.
Users can also use a laptop or other traditional device to type
daily notes into the NoteVault system. Notes can include photos and
videos, delivering the clearest possible message regarding activity
on the ground. Each individual note is encrypted and stored for 10
years.
"This investment will enable NoteVault to continue expanding our
sales and marketing efforts, as well as make exciting enhancements
to the core NoteVault platform and develop additional features to
serve our customers," noted Peter
Lasensky, NoteVault's CEO. "Our immediate success
enabling construction firms' ability to increase productivity and
mitigate risk validates a demand in the market greater than we
anticipated."
About West Partners
West Partners is the San Diego
investment arm of the Gary & Mary West Family Office, making
investments into privately held companies. The firm seeks to
acquire controlling stakes in companies operating in growing
markets, with strong management teams. West Partners also invests
in commercial real estate. The permanent capital base enables West
Partners to be more flexible in its investment approach than
traditional private equity. Investments range from $10 million to $100 million.
About NoteVault
NoteVault provides innovative voice-to-text-based mobile reporting
solutions for the commercial construction industry. NoteVault
enables superintendents to quickly and easily report project
activity from the field using nothing but their voice and their
mobile phone. This information is transcribed and made available
through email or a web-based interface. NoteVault saves contractors
time and money, while protecting against potential lawsuits. For
more information, please visit www.notevault.com.
Contact:
David Oates
858-750-5560
david@stalwartcom.com
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SOURCE West Partners