The Fonds de solidarité FTQ Network Invests $45M In Québec City-Based InnovMetric

The Fonds de solidarité FTQ and the Fonds régionaux de solidarité FTQ Québec become shareholders of the company specializing in 3D measurement software

Québec, QC /CNW/ - To support the growth of InnovMetric, founded in Québec City in 1994, the Fonds de solidarité FTQ and the Fonds régionaux de solidarité FTQ-Québec have become shareholders of the company thanks to a $45 million dollar investment.

InnovMetric specializes in the design of 3D measurement software. Its software solutions are at the heart of verifying the compliance of manufactured parts, allowing perfect assembly as well as a significant reduction in rejected parts and product time-to-market. Whether it is for cars, household appliances, or smartphones, InnovMetric's PolyWorks® solutions are essential for many everyday objects.

Having built a reputation for excellence with each of the world's 100 largest manufacturers, the Québec City-based company has established an unwavering presence in 18 countries and has more than 650 employees and 23,000 clients.

"This announcement with the Fonds de solidarité FTQ network allows us to join forces with a strong financial partner that will support us in our next phase of growth. This growth will be driven by our digital transformation solutions for 3D measurement processes, which enable our clients to make better product lifecycle decisions, foster greater collaboration, and ultimately, increase profitability," said Marc Soucy, President and co-founder of InnovMetric.

"Québec City is now a world leader in software thanks to the expertise in 3D measurements developed by InnovMetric over the past 30 years. We are proud to support the growth of this company, which counts the world's largest manufacturers among its clients. The culture of innovation that is promoted by Marc Soucy and the entire InnovMetric team shines around the world," added Saloua Benkhouya, Vice-President, Private Equity and Impact Investing at the Fonds de solidarité FTQ.

"The Québec City office of the Fonds régionaux de solidarité FTQ is a gateway to the entire Fonds pour les entrepreneurs network in the Capitale-Nationale region looking for support and financing. We are proud to join forces with our colleagues at the Fonds to support the growth of InnovMetric, which celebrates its 30th anniversary this year," concluded Frédéric Bernard, Regional Vice-President of the Fonds régionaux de solidarité FTQ for Québec City.

Deloitte Corporate Finance served as the main advisor and facilitated the financing process seamlessly.

About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a source of pride in Québec, fulfilling its mission through a unique business model created 40 years ago. Since then, the Fonds has rallied Québec into action thanks to the retirement savings of 769,459 shareholders.

With net assets of $18.9 billion as of November 30, 2023, the Fonds supports more than 3,700 companies through venture and development capital investments based on the belief that impact is created as much by financial returns as it is by social ones. For more information, visit fondsftq.com or our company page on LinkedIn.

About InnovMetric
A recognized leader in the field of 3D measurement software, InnovMetric is a Quebec City multinational that celebrates its 30th anniversary in 2024. PolyWorks, its universal digital ecosystem, has revolutionized the industry. It allows manufacturing companies to accelerate the design, development, and quality control of their products by quickly identifying possible solutions to their manufacturing challenges.

The InnovMetric group successfully combines constant growth and its philosophy as a human-scale multinational. Today, the company has 650 employees spread across 18 countries, and offers its services in 43 languages to more than 23,000 clients in 100 countries. It stands out for its prestigious partnerships, including with the Fédération Internationale de l'Automobile (FIA) for the inspection of Formula 1 vehicles before races. InnovMetric supports the world's largest automobile manufacturers as well as the 100 largest manufacturing companies in the digital transformation of their metrology processes.

For more information, visit innovmetric.com or follow us on LinkedIn.