Canopy Tools Group rebrands as CT4
With the wheels of its global expansion plans in motion, Australian tech company Canopy Tools Group is returning to its roots, rebranding under its original name CT4.
Co-founder and managing director Craig Adams said the name change paid homage to the company’s humble grass roots as it eyed new opportunities in Australia and around the world.
“Our genesis was over a decade ago as a small operation helping a handful of clients with cloud computing, and before long we were offering cloud services from data centres across Australia,’’ Mr Adams said.
“CT4 marks a fresh start, while acknowledging where we came from as a company.
“Australia is an incubator of great technology; we are proud to have started here, but we are a global business.
“We see some acquisition opportunities and we wish to aspire to continue funding our expansion in our people, product expansion and market growth in Europe and North America and our home base of Australia,’’ Mr Adams said.
Since its inception in 2009, CT4 has moved from cloud services and traditional IT systems into apps and now into a data delivery company that provides software to sectors such as bio secure cruises, defence, education, facilities management, government, housing, tourism, health care and mid-tier organisations.
The company has doubled its team in the last three years to over 100 full time staff around the world. Revenue has increased each year over the same period, with Canopy posting audited revenue of $17.2 million in 2019-20.
Last year CT4 closed a $21 million capital raise which set the path for growth.
Mr Adams said CT4’s vision was to create and distribute world-class software products that control and protect data.
“Our mission is to translate data into meaningful insights that help businesses succeed. We do this by embedding highly functional products into our customer’s processes, enabling them to deliver smart, future-ready services,’’ he said.
“There has never been a better time to embrace the possibilities of technology. Now, more than ever people have access to products to create, innovate and use data intentionally.
“Data can do more than ever and so can we, which is why we have a new brand, and we will always be open to new challenges, markets, ideas and collaboration,’’ Mr Adams said.
CT4’s software focuses on collecting data from the Internet of Things (IoT) or connected devices, then analysing that data and taking action based on analysis and criteria that’s set by the customer.
The growth potential of the IoT market is staggering, with estimates that in а few years there will be 75 billion connected devices in the world. It is thought that by 2025 the IoT will have а global economic value of more than $4 trillion.
With presence in Australia, New Zealand, South East Asia, the UK and the US, CT4 is well positioned to take advantage of the sector’s untapped potential.