Quebec’s InnovMetric secures $45-million investment from the Fonds de solidarité FTQ

Quebec City-based 3D measurement software developer InnovMetric is entering into the next stage of its development with a $45 million investment from the Fonds de solidarité FTQ. The investment will support the long-term growth of the company, which is celebrating its 30th year in business this year.

“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,” said Marc Soucy, president and co-founder of InnovMetric. “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.”

InnovMetric’s  software solutions are designed to verify the compliance of manufactured parts, allowing proper assembly as well as a significant reduction in rejected parts and product time-to-market.

The Fonds de solidarité FTQ is a development capital investment network in the province of Quebec. With net assets of $18.9 billion as of Nov. 30, 2023, the Fonds supports more than 3,700 companies through venture and development capital investments.

“Quebec City is now a world leader in software thanks to the expertise in 3D measurements developed by InnovMetric over the past 30 years,” said Saloua Benkhouya, the Fonds’ vice president of private equity and impact investing. “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.”