Acumen Software has raised a series B investment for the My Smart City platform to boost job creation | SME Tech Guru
Summary
Acumen Software, the asset and resource management solution firm that created the My Smart City platform, has secured a Series B Investment used to build out further services for citizens. This added functionality provides users with a lot more information, including insights into municipal service performance, places of interest to boost local tourism and access to social, sporting and other events. Exposure for small businesses, previously unknown, can be a catalyst for economic growth, said Joao Zoio, CEO of Acumen Software.Imvelo Ventures (Pty) Ltd, founded by Capitec Bank and investment firm Empowerment Capital Investment Partners, identifies and funds promising South African small and medium enterprises.As Imvelo shares the My Smart City vision, this series B investment, still an undisclosed amount, follows their Series A investment.We believe that venture capital has a significant role in South Africa because it is a proven method of introducing capital to higher risk ventures that support exponential outcomes. There is a wealth of potential in South Africa, and venture capital investing is a process of sifting to uncover the current golden opportunities. As South Africa continues to move with the digital era, My Smart City is at the forefront of improving communications between citizens, service providers, and municipalities.