Canopy Tools appoints audit partner ahead of ASX listing

Australian-based global IT company Canopy Tools has announced the appointment of audit partner and capital markets advisory RSM International ahead of its intended float in 2022.

RSM is one of Australia’s leading professional service firms, specialising in auditing, tax, consulting and business advice.

“We are very pleased to welcome RSM aboard as we embark on an exciting phase of growth at Canopy Tools,” said company CEO, Craig Adams.

“They are a firm that understands our strategic direction and have the expertise to deliver what we need,’’ he said.

RSM Partner Robert Miano said the company was excited to be a part Canopy’s growth journey.

“We are very much looking forward to working hand in hand with Canopy Tools, utilising our global network of experts to provide the support and services they require for success,’’ he said.

Canopy Tools is a software and data product company that provides unique market changing software products backed by a team of application specialists creating solutions to bring legacy systems and software to the cloud.

The company focuses on the smart management of IoT (Internet of Things) data for wide ranging applications including bio secure cruises, safer aged care homes, the defence sector, public housing and facilities management.

Canopy’s unique value proposition is it transforms data from any IoT device to wisdom and then performs actions through software

“A staggering amount of data is collected by connected devices but very rarely is data used to its full potential. While some analysis is performed it is seldom transformed to information and wisdom outside of advertising.

“Canopy harnesses the data through ingestion, collection, analysis and then transforms the data to knowledge and wisdom which underpins actions that may be undertaken,’’ Mr Adams said.

In February, Canopy Tools closed a $21 million pre-IPO fundraising round in advance of the intended float in 2022.

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