Anthony Macdonald, Yolanda Redrup and Kanika Sood
Dec 13, 2021 – 9.32pm
It seems like nervousness around a US tech stock selldown earlier this month wasn’t enough to deter investors from this opportunity.
IPO-hopeful CT4 (formerly known as Canopy Tools) has banked $12.5 million in its second pre-IPO funding round, adding to the $21 million it raised earlier this year.
CT4’s Canopy platform lets people control their IoT devices.
The latest raise values the business at $72.5 million - a sum it plans to increase in the IPO.
The company started out in 2009 focused on private cloud via its brand Stratus, but has since also launched an IoT data collection and control platform called Canopy, and a Microsoft 365 back-up automation tool called Cirrus, which are the growth engines of the business today.
Its Canopy tool enables people to collate data and control a range of IoT devices from headphones to drones, temperature sensors and more.
In 2021, the business generated $21.1 million in revenue. While Cirrus is its newest platform, in its first year of operation it brought in $6.7 million in revenue. CT4 CEO Craig Adams tipped that its growth would outstrip Canopy and Stratus again in 2022, for which it has forecast $38.9 million revenue.
“We think Cirrus will overtake rest of the business in 12 months or so,” Adams said.
“But, with Canopy it could be hard to pick. IoT is maturing a lot, so there are more opportunities becoming available and there are a lot of use cases that fit the Canopy product.”
The business is based in Australia, but has a presence in New Zealand, South East Asia and the UK. It also expanded to the US this year.
CT4 had the wholesale team at Shaw and Partners on board for the pre-IPO raise.
CT4 and Veeam Software partner to make data protection accessible and affordable globally with Cirrus for Microsoft 365.
CT4 announced today its data protection product Cirrus Backup has launched in India. "We have been working with Veeam at a local and global level to ensure Cirrus offers the highest levels of data protection for India’s millions of Microsoft 365 users,’’ said CT4 Chief Technology Officer Dan Pearson.
This notice applies across all websites that we own and operate and all services we provide, including our online services products, and any other apps or services we may offer (for example, events or training). For the purpose of this notice, we’ll just call them our ‘services’.
When we say ‘personal data’ we mean identifiable information about you, like your name, email, address, telephone number, bank account details, payment information, credit card details, support queries, and so on. If you can’t be identified (for example, when personal data has been aggregated and anonymised) then this notice doesn’t apply.
We may need to update this notice from time to time. Where a change is significant, we’ll make sure we let you know – usually by sending you an email.
When we refer to ‘we’ (or ‘our’ or ‘us’), that means CT4 Pty Limited and all its wholly owned subsidiaries. Our headquarters are in Australia but we operate and have offices all over the world. Address details for all CT4 offices are available on our contacts us page.
For European Union data protection purposes, when we act as a controller in relation to your personal data, CT4 Europe Limited (Company No: 09357367) is our representative in the European Union.
Our approach to data protection is built around four key principles. They’re at the heart of everything we do relating to personal data.
Transparency: We take a human approach to how we process personal data by being open, honest and transparent.
Enablement: We enable connections and efficient use of personal data to empower productivity and growth.
Security: We champion industry leading approaches to securing the personal data entrusted to us.
Stewardship: We accept the responsibility that comes with processing personal data.
When you visit our websites or use our services, we collect personal data. The ways we collect it can be broadly categorised into the following:
Information you provide to us directly: When you visit or use some parts of our websites and/or services we might ask you to provide personal data to us. For example, when you sign up for a subscription, join us on social media, take part in training and events, contact us with questions or request support. If you don’t want to provide us with personal data, you don’t have to, but it might mean you can’t use some parts of our websites or services.
Information we collect automatically: We collect some information about you automatically when you visit our websites or use our services, like your IP address and device type. We also collect information when you navigate through our websites and services, including what pages you looked at and what links you clicked on. This information is useful for us as it helps us get a better understanding of how you’re using our websites and services so that we can continue to provide the best experience possible (e.g., by personalising the content you see).
Some of this information is collected using cookies and similar tracking technologies..
Information we get from third parties: The majority of information we collect, we collect directly from you. Sometimes we might collect personal data about you from other sources, such as publicly available materials or trusted third parties like our marketing and research partners. We use this information to supplement the personal data we already hold about you, in order to better inform, personalise and improve our services, and to validate the personal data you provide.
Where we collect personal data, we’ll only process it:
If we don’t collect your personal data, we may be unable to provide you with all our services, and some functionsand features on our websites may not be available to you.
If you’re someone who doesn’t have a relationship with us, but believe that a Cirrus subscriber has entered your personal data into our websites or services, you’ll need to contact that Cirrus subscriber for any questions you have about your personal data (including where you want to access, correct, amend, or request that the user delete, your personal data).
First and foremost, we use your personal data to operate our websites and provide you with any services you’ve requested, and to manage our relationship with you. We also use your personal data for other purposes, which may include the following:
To communicate with you: This may include:
To support you: This may include assisting with the resolution of technical support issues or other issues relating to the websites or services, whether by email, or otherwise.
To enhance our websites and services and develop new ones: For example, by tracking and monitoring your use of websites and services so we can keep improving, or by carrying out technical analysis of our websites and services so that we can optimise your user experience and provide you with more efficient tools.
To protect: So that we can detect and prevent any fraudulent or malicious activity, and make sure that everyone is using our websites and services fairly and in accordance with our terms (www.cirrusbackup.com/terms).
To analyse, aggregate and report: We may use the personal data we collect about you and other users of our websites and services (whether obtained directly or from third parties) to produce aggregated and anonymised analytics and reports, which we may share publicly or with third parties.
There will be times when we need to share your personal data with third parties. We will only disclose your personal data to:
If we share data, and that would only ever be subscriber data, it will never be transferred to, and processed in, countries other than the country where you signed up to.
Security is a priority for us when it comes to your personal data. We’re committed to protecting your personal data and have appropriate technical and organisational measures in place to make sure that happens.
The length of time we keep your personal data depends on what it is and whether we have an ongoing business need to retain it (for example, to provide you with a service you’ve requested or to comply with applicable legal, tax or accounting requirements).
We’ll retain your personal data for as long as we have a relationship with you and for a period of time afterwards where we have an ongoing business need to retain it, in accordance with our data retention policies and practices. Following that period, we’ll make sure it’s deleted or anonymised.
It’s your personal data and you have certain rights relating to it. When it comes to marketing communications, you can ask us not to send you these at any time – just follow the unsubscribe instructions contained in the marketing communication.
You also have rights to:
You can exercise these rights at any time by making a support request at firstname.lastname@example.org.
If you’re not happy with how we are processing your personal data, please let us know by getting in touch from the support page. We will review and investigate your complaint, and try to get back to you within a reasonable time frame. You can also complain to your local data protection authority. They will be able to advise you how to submit a complaint.
We’re always keen to hear from you. If you’re curious about what personal data we hold about you or you have a question or feedback for us on this notice, our websites or services, please get in touch.
As a technology company, we prefer to communicate with you by email – this ensures that you’re put in contact with the right person, in the right location, and in accordance with any regulatory time frames.
Contact us from www.ct4.com/#contact