MONTREAL, Aug. 7 /CNW Telbec/ - Solidarity Fund QFL and Capital régional
et coopératif Desjardins today announced a $4.7 million joint investment in
Coradiant, a company that develops and implements Website performance
monitoring solutions. Headquartered in the U.S., Coradiant will use the
investment to grow its R&D-focused Montréal office, which currently has some
sixty employees. Moreover, the Company believes the funds will also help
create new jobs right here at home.
"Besides boasting a highly promising niche product and a list of
prestigious clients, Coradiant is also a talent incubator in Montréal, and
that's just some of the reasons the Fund decided to invest," states the Fund's
Jacques Bernier, Senior Vice-President, Information Technologies,
Telecommunications and Industrial Innovations. "By actively supporting R&D in
the Montréal office, we are playing a direct role in Coradiant's growth,"
concluded Mr. Bernier, who also mentioned that the Fund's investment completes
a US$17 million financing round initiated last spring by several foreign and
"We are pleased to continue our partnership with Coradiant. Not only does
Coradiant have a solid, aggressive and experienced management team, but the
solutions it develops meet with high user satisfaction and are recognized in
their market," said Fabrice Lucherini, Vice-President, Venture Capital. "This
investment is a testament to the potential for close cooperation between U.S
and Canadian investors, and Desjardins is very proud to continue participating
in this partnership," concluded Mr. Lucherini.
Coradiant has redefined the Website performance monitoring industry by
introducing TrueSight, a real-time analysis tool that allows companies with
corporate and transactional Websites to better understand end-user behaviour.
These solutions allow companies with Websites to measure the performance,
availability and functional integrity of their application. Coradiant
currently has over 140 clients, most of which are Fortune 500 companies.
About the Solidarity Fund QFL
With net assets of over $7.2 billion, the Solidarity Fund QFL is a
development capital company that through its RRSP channels the savings of
Quebecers into investments in all sectors of the economy to help create and
maintain jobs and to further Québec's economic growth. The Fund is a partner,
either directly or through its network members, in 1,681 companies. It
currently has nearly 575,000 shareholders and has helped, on its own or with
other financial partners, to create, maintain and protect over 116,000 jobs.
For more information, visit www.fondsftq.com.
Capital régional et coopératif Desjardins
Capital régional et coopératif Desjardins is a publicly-traded company
founded in 2001 on the initiative of the Desjardins Group. Managed by
Desjardins Venture Capital, the Company's primary mission is to raise venture
capital with a view to fostering the economic development of Québec's
cooperatives and resource regions. With an authorized capitalization of
$1.325 billion, the Company assists companies and cooperatives throught
For further information:
For further information: The telephone numbers provided below are for
the exclusive use of journalists and other media representatives: Josée
Lagacé, Senior Advisor, Press Relations and Communications, Solidarity Fund
QFL, (514) 850-4835, email@example.com; Sylvie Audet, Vice-President,
Strategic Planning and Communications, Desjardins Venture Capital, (514)