Maintenance Assistant Inc

Maintenance Assistant Inc

February 28, 2011 11:01 ET

Maintenance Assistant Closes Major Financing Round

TORONTO, ONTARIO--(Marketwire - Feb. 28, 2011) - Maintenance Assistant Inc., a leading Enterprise 2.0 community for computerized maintenance and electronic asset management (EAM), announced today the completion of its first major round of expansion capital financing. Led by boutique investment firm Verdexus investors include the Golden Triangle Angelnet Niagara Venture Forum and strong management buy-in. Funds raised will be used to expand the Company's product offering and grow top-line revenue.

"We're committed to accelerating locally-based global software leaders, and Maintenance Assistant has all the signs of success. It represents a high potential investment for Verdexus and its investment partners," says Randall Howard, Partner at Verdexus and Golden Triangle Angelnet board member. "It is testament to the quality of the Maintenance Assistant opportunity and the company's talented management team that we were able to move such a significant investment forward in record time."

"In a little over two years, we have been able to build an award-winning computerized maintenance management software (CMMS) with thousands of users in over 150 countries around the globe. Our software has been translated into over 30 languages and is rapidly becoming the world's most popular free CMMS. At this key point in our growth, we are thrilled to have a strong investor group behind us. Their combined knowledge, experience and network will accelerate our growth" says Marc Castel, CEO.

About Maintenance Assistant

Maintenance Assistant develops enterprise 2.0 software for asset and maintenance management. Its flagship product, MA Free CMMS™, is a free, cross-platform, full-featured computerized maintenance management software with unrestricted licensing and uninhibited scalability. Maintenance Assistant offers its EAM software either as a standalone server installed behind the firewall or as a Software-as-a-Service (SaaS) solution, both with multi-site capability for any size or type of business. For more information visit www.maintenanceassistant.com

About the Investors

Verdexus (www.verdexus.com) is a transatlantic boutique hands-on investment firm focused on growing global leaders in software-based businesses. The Golden Triangle Angelnet (www.goldentriangleangelnet.ca), and the Niagara Venture Forum (www.niagaraventureforum.com) bring world-class business intelligence and financial opportunity to companies through a networked group of professionals.

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