Thentia, BDC Capital-backed regulatory cloud software company, expands into Quebec
Montreal, Quebec – September 8, 2021 – Thentia, a global leader in GovTech Software-as-a-Service (SaaS), is pleased to announce its entry into Quebec’s regulatory market. The company looks forward to expanding its client base and introducing both occupational and non-occupational regulatory bodies throughout the province to its industry-leading solution, Thentia Cloud, a secure end-to-end platform that supports all critical regulatory requirements.
Thentia’s expansion into Quebec comes on the heels of its recent Series B announcement in May 2021 when the company closed a $10 million round led by New York City-based Spring Mountain Capital with participation from BDC Capital to help accelerate the company’s entrance into new markets. According to Chief Executive Officer Julian Cardarelli, these developments represent crucial steps toward Thentia’s long-term vision to become the preferred technology partner for regulators across all 50 U.S. states and Canada’s ten provinces and three territories.
According to Sean Brownlee, Partner, Industrial, Clean and Energy Technology (ICE) Venture Fund, BDC Capital, “Thentia’s success in the GovTech space is evidenced in the impressive growth they’ve already achieved. The regulatory licensing industry is undoubtedly an underserved one, and we’re proud to support a robust technology company that’s disrupting the space and delivering a platform that is transforming how regulators are able to conduct their day-to-day operations.”
Cardarelli says the company sees enormous potential to support Quebec’s regulators, many of whom are still managing many of their regulatory processes using pen and paper and cumbersome technology, which illustrates the long overdue need for trusted, reputable, and knowledgeable government technology providers in Quebec.
“Our turnkey platform was created by insiders from the world of regulation and our executive team draws on their extensive knowledge and frontline experience in the regulatory ecosystem, allowing us to deliver meaningful and impactful results for our clients,” he adds.
Since 2014, Thentia has developed a successful record of accomplishment working with both self-regulated and government entities across Canada, the U.S., and globally to help them achieve the highest level of regulatory compliance. Its flagship solution, Thentia Cloud, was architected exclusively for regulators and offers a powerful suite of functionalities to support all regulatory activities, including license registration and renewals, compliance, and governance, and more.
“Our mission has long been to empower government agencies to do their best work, and we complement our technology by assuming an advisory role and offering an unparalleled level of leadership not commonly offered by technology service providers,” says Cardarelli. “Supporting Quebec’s regulators represents a fresh opportunity for Thentia to help more agencies truly achieve regulatory excellence.”
Founded in Canada, with operations in the U.S. and trusted by agencies in North America and worldwide, Thentia was developed by subject matter experts with a mission to transform GovTech through best-in-class technological capabilities. Its secure, modern and elegant solution, Thentia Cloud, is revolutionizing the way agencies manage data and licensing by bringing the entire process into the 21st century with speed, automation, ease-of-use and best-in-class support. For more information, visit: thentia.com.
About BDC Capital:
BDC Capital is the investment arm of BDC, the bank for Canadian entrepreneurs. With over $3 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers businesses a full spectrum of capital, from seed investments to growth equity, supporting Canadian entrepreneurs who have the ambition to stand out on the world stage. Visit bdc.ca/capital.