Industry News | May 2, 2013

eThor Secures $1M in Financing from AVAC Ltd.

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eThor, the point of sale (POS) integration platform, has announced a $1 million investment into the company by AVAC Ltd., a private Alberta Company that invests in promising tech companies.

“The Online to Offline (O2O) commerce opportunity is burgeoning, and we believe eThor has a unique platform approach to rapidly capture a big piece of the market,” says Jacques LaPointe, Sr., investment manager of AVAC Ltd. “We are very pleased to be one of eThor’s earliest investors, and we feel this current investment will assist rapid customer adoption.”
 
eThor plans to use the funding to further capitalize on the $1.3 trillion online-to-offline commerce market by executing on its existing sales pipeline and forging new partnerships within the POS industry.
 
The company’s powerfully simply solution provides a complete two-way communication between retail POS systems and user devices, enabling retailers to push live product and pricing information from their POS system directly into the pockets of consumers.
 
Unlike work-around solutions that bypass the POS integration problem with either hardware or disconnected apps, eThor tackles the problem of POS integration head on by creating a common data language that enables consumer applications to connect and speak with any integrated POS system.
 
“We’re excited to have AVAC on board as one of our investors” says Gary Ziegler, CEO of eThor. “This financing will help us to expand our operations and support our rapid expansion into the marketplace.”