Exceedia said it will use the funds for sales and marketing activities.
The Edmonton firm develops technology to help industrial construction firms lower the amount of money it takes to track, account for, and report on their labour costs. According to Exceedia, it can cost US$1 to US$3 per labour hour to account for these costs.
It can be acomplex and expensive process to generate different labour cost reports in real time. A senior executive, a union representative, and the payroll departments would all need different information in their reports to do their job.
Exceedia's software application collects the different rate data on labour, equipment and material costs and then creates specific reports for each party.
Exceedia employees about 30 people.
