infinitii ai’s been on a tear in 2023. The predictive analytics software company for Smart City water infrastructure applications capped six quarters of growth with a 42% increase in monthly revenue from contracted and subscription customers in its March 1st quarterly report. And this week the company stated that its largest shareholder, ThreeD Capital’s Founder, Chairman and CEO Sheldon Inwentash, has been appointed as Strategic Advisor to the CEO. ThreeD Capital is a venture capital firm focused on investments in promising, early stage companies with disruptive capabilities.
Inwentash has more than 30 years of in-depth entrepreneurial and investing experience. He co-founded Visible Genetics, the first commercial pharmacogenomics company, in 1994 and exited in 2001 to Bayer. Through two decades leading Pinetree Capital, Mr. Inwentash created significant shareholder value through early investments in Queenston Mining (acquired by Osisko Mining Corp. for $550-million), Aurelian Resources (acquired by Kinross for $1.2-billion) and Gold Eagle Mines (acquired by Goldcorp for $1.5-billion) to name a few.
“We are delighted to invite such an accomplished entrepreneur and investor to join us in an advisory capacity,” stated Jean Charles Phaneuf, CEO of infinitii ai. “Sheldon’s extensive knowledge of capital markets and growth strategies for knowledge-based industries brings substantial expertise to infinitii ai as we work to fulfill our full potential as a leading provider of AI-driven predictive analytics software.”
“I look forward to contributing to infinitii ai’s growth strategy in this new advisory role,” said Inwentash. “Jean Charles has attracted key funding and transformed infinitii ai’s product portfolio, branding and sales execution since he joined as CEO in 2021. His ambition is well matched to the excellent opportunities for B2B AI software applications, and I look forward to working with him to further accelerate shareholder value.”
In January, Phaneuf's company made a record sale of its software with partner SCG Flowmetrix to the Region of Peel. The contract is for one of Canada’s largest flow and rainfall delivery projects. And he entered into 2023 fresh off the signing of an U.S. national distribution agreement with Core & Main, which chose infinitii ai’s flowworks software for its Core+ wastewater solutions.
To share its corporate success with its team, infinitii ai also announced the implementation of an Equity Incentive Plan in March. “These incentives will help keep our people focused on revenue growth as we have simultaneously contained costs and received a solid customer reception for the new Machine Learning product portfolio we announced last fall,” said Phaneuf.