Titan Cloud Software acquires Canary Compliance, its second acquisition of 2021
Philadelphia-based Canary Compliance provides tank monitoring software to the retail fuel industry
FRANKLIN, Tenn., July 13, 2021 /PRNewswire/ -- Titan Cloud Software is pleased to announce that it has acquired Canary Compliance. The move is the latest in a series of growth milestones for Titan Cloud and will enable the company to expand its environmental compliance solutions for SMBs in the retail fuel industry.
"We are excited to welcome the Canary team to Titan Cloud," says David Freese, CEO and Chief Product Officer for Titan Cloud. "They have a great product-market fit for operators with 1 to 5 sites, with an easy-to-use web app and managed connectivity solution. Given Titan's success with the industry's largest operators, adding Canary allows us to serve every owner/operator in the industry with best-in-class technology."
Canary is currently led by founder and CEO Jon Kelly, who started the company in 2016 after several years at ExxonMobil. Following the acquisition, Kelly will be Senior Vice President at Titan Cloud driving growth into the SMB segment.
"We are thrilled to partner with Titan and M33 Growth," said Kelly. "Their resources and go-to-market expertise will help us fulfill and even expand Canary's mission, which is to help underground storage tank (UST) owners and operators achieve and maintain compliance in the most reliable and cost-effective way possible. It also helps us expand access to connectivity hardware and intelligent software products for a historically underserved market segment."
"We are extremely excited to join forces with Canary. As we continue to accelerate our go-to-market momentum, Canary gives us significant reach across the retail SMB segment that we did not have before," said John Donnelly III, Chief Revenue Officer for Titan Cloud.
Donnelly continued: "Our investors at M33 Growth have been great partners as we have continued our M&A strategy in 2021. This is our 3rd acquisition, and they continue to support our organic growth as we scale the business."
Titan and Canary products monitor fuel throughput at over 65,000 sites worldwide and serve the world's top convenience store groups including Circle K, bp, EG, 7-Eleven, Cross America Partners, and Houchens Industries. By combining their software offerings, which include solutions for environmental compliance, SIR, and advanced wetstock management, the company plans for significant global customer expansion.
Financial terms of the acquisition were not disclosed.
About Titan Cloud Software
Titan Cloud Software provides industry-leading solutions for environmental compliance, advanced fuel analytics, wetstock management, and facility maintenance, so that customers can effectively manage risk and run efficient, profitable businesses. Titan Cloud's software currently monitors 50% of all U.S. consumer gasoline throughput and covers more than 65,000 facilities. The company was launched in 2012 and is headquartered near Nashville, Tennessee with offices in Chicago and Melbourne. Learn more at www.titancloud.com.
About Canary Compliance
Canary Compliance provides underground storage tank owners and operators with smart, simple remote tank monitoring solutions at an affordable price. The company was launched in 2016 in Philadelphia, Pennsylvania. Learn more at www.cancomply.io.
About M33 Growth
M33 Growth is a venture and growth stage investment firm that seeks to partner with founders and CEOs who have successfully bootstrapped their companies to strong growth and are positioned to rapidly scale their companies and break through as market leaders. Founded by veterans of renowned investment firms with considerable operational experience, the Boston-based firm seeks to invest in companies in the software, healthcare, and services sectors throughout North America. Learn more at www.m33growth.com.
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