PowerStores/Webware.io secures $2M new financing led by Moss Kadey

Webware.io, a provider of a complete digital toolkit designed to help small businesses easily navigate the online world, has raised $2 million in new funding led by Moss Kadey of Mossco Capital Inc. Ira Gluskin and Gerald Sheff, founders of Gluskin Sheff + Associates, also participated in the financing.

The new investment will allow Toronto and Goa, India base Webware.io to build upon recent momentum, including the launch of a strategic, bricks-and-mortar partnership with Staples Canada. It will also help grow the company’s rapidly expanding presence with small businesses across North America searching for a powerful, easy-to-use website platform.

Founded in India by Cory York and Indrajit Chowdhury in 2012 as PowerStores, the company expanded and rebranded as Webware.io to North America in 2015, with the opening of its North America headquarters in Toronto and a new round of funding led by Extreme Venture Partners and William Bissell.

photo credit: Webware.io

News Release

Webware Secures $2 Million in Funding to Fuel Growth and Expansion

TORONTO, May 2, 2019 /PRNewswire/ – Webware.io, a Toronto-based company focused on helping small businesses achieve online success, today announced that it has received $2 million in strategic financing from an elite group of investors led by renowned industry veteran Moss Kadey.

As Founder and CEO of Mossco Capital Inc., Kadey is a strategic investor specializing in consumer goods, real estate and technology companies. Among the brands he has been involved with from start-up to exit are Bumble and bumble and BECCA Inc. (each sold to Estée Lauder Companies), Oribe Hair Care (sold to Kao USA Inc.), and the North/South American Brita business (sold to The Clorox Company). Also providing funding are Ira Gluskin and Gerald Sheff, founders of Gluskin Sheff + Associates, one of Canada’s top wealth management firms.

The investment will allow Webware.io to build upon recent momentum, including the launch of a strategic, bricks-and-mortar partnership with Staples Canada. It will also help grow the company’s rapidly expanding presence with small businesses across North America searching for a powerful, easy-to-use website platform.

“An investment of this size from some of the industry’s pre-eminent financiers underscores their confidence in our vision. It also gives us the ability to further strengthen our platform and provide small businesses with a solution that will take their operations to the next level,” says Cory York, Co-Founder and CEO of Webware.io. “We’re excited by what we have achieved so far, and this brings us even closer to realizing our strategic goals.”

“To succeed, small business owners must harness the power of online technology to build deeper connections with their customers and establish a robust e-commerce channel,” says Kadey. “The Webware.io digital toolkit is uniquely suited to help them do this, and we look forward to helping the company enter the next stage of growth.”

About Webware

Webware.io is a complete digital toolkit designed to help small businesses easily navigate the online world. Webware’s technology and services are used by IBM, Kernels Popcorn, Staples Canada, and over 10,000 businesses across 400 cities in North America. With Webware.io, a business has access to the technology and support required to get online and become successful. The toolkit includes a website and e-commerce platform, social media management, email marketing, blogging, search engine optimization (SEO), reputation management, and more. Visit webware.io for more information.

SOURCE Webware.io