Lambda Solutions Inc., a Vancouver, Canada-based provider of cloud learning management systems, received $1M in revenue based financing.
GreenAngel Energy Corp. (TSX VENTURE:GAE) will provide $500k upon close and $500k in Q1, 2016 (at both parties’ option) and, in exchange for the purchase, will receive a monthly royalty on gross revenue until a defined maximum amount has been reached.
The company intends to use the funds to expand sales capabilities as well as to continue product expansion.
Led by Shevy Levy, CEO, Lambda provides both proprietary and customized open source learning solutions as well as cloud hosting and training to a global customer base. Its LMS reporting solution, Lambda Analytika, allows learning and talent development departments to prove their impact on the bottom line while providing compliance reporting.