Caisse invests in expansion of Quebec-based software company

The Caisse de dépôt et placement du Québec is investing in Quebec-based software company Poka to help its expansion into the United States and Europe.

Poka, a training and knowledge platform for manufacturers, has raised $10 million in this round of financing, which also includes original seed investors iNovia Capital and Uncork Capital.

Read: Caisse leads $20 million financing for Montreal retailer

“As the industrial sector is undergoing rapid changes, manufacturers must leverage new ideas and technologies to stay competitive,” said Christian Dubé, the Caisse’s executive vice-president for Quebec, in a news release. “Poka’s solutions help manufacturers improve their performance and achieve the digital sophistication that is now necessary to stand out. We are proud to support innovative companies like Poka in their development and international expansion.”

Poka’s web and mobile app provides employees with the ability to capture, consume and share information in real time, which leads to improved productivity, notes the release. Manufacturers using the technology include electrical company Thomas & Betts Ltd., steel producer ArcelorMittal, corrugated packing company WestRock and food products corporation Danone. 

“Multiple trends including an aging workforce and increased automation are converging right now to cause a skills gap,” said Alex Leclerc, the company’s chief executive officer and co-founder. “Poka addresses these challenges by accelerating employee onboarding and improving knowledge sharing in the new smart factory era.”

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