Atwood Develops Revenue Stream

http://www.entrevestor.com/index.php/site/blog_detail/revenue_stream_developing_at_atwood

by Peter • Thu, October 20, 2011

 

Atwood Technology, a Miramichi software company employing artificial intelligence to provide matching services, will launch its first paying site within weeks, CEO Theresa Williams said in an interview.

The early-stage company, which has attracted New Brunswick tech mentor Gerry Pond to its board of advisers, has devised software that uses artificial intelligence to match individuals with people or organizations that suit their personalities.  The software, says Williams, has several applications and the company will begin with a dating service launched on behalf of a corporate client that owns three bars and restaurants in New Brunswick.

Atwood Technology’s core product is called Acumatch, which it sells it to corporate clients to help match individuals with their ideal match, whether in a partner, job or whatever. A dating service is ideal for the product because the end-users provide so much personal information, and Williams said the company will begin R&D on a human resources application in April.

The company operates a dating service called eMatchopolis.com, which allows businesses to create their own dating sites under their own brand name.

Williams, who received an MBA from the prestigious Wharton Business School in Philadelphia, said Acumatch will not only bring in revenue for the restaurant owner through the dating service. It will also help the restaurateur understand more about clients’ tastes and preferences and design sales strategies tailored to them.

Atwood Technologies has been financed so far by angel investments, largely from the U.S., and from such federal government programs and agencies as NRC-Irap and ACOA. Williams will soon begin a seed round of financing in which she aims to raise about $500,000. The company was one of the presenters at the Angel Den presented by the Moncton Connect/CyberSocial Committee in July, and Williams was a speaker at Invest Atlantic in Halifax in September.