Canvas, maker of software that allows even layman users to turn paper forms into digital applications for business purposes, announced that it has brought in $750,000 of an expected $1 million first round of funding. It says it will use the money, provided by Sphere Capital, to adapt its product for the iPhone, BlackBerry and other smartphones on the market. The round will remain open.
To create an application, a user simply submits a paper form to Canvas, which then converts it into a digital version that can collect form data and send it back to the user’s business — all via cell phone. For now, it only works on Windows Mobile. The Herndon, Va. company anticipates a lot of business from the health care sector, in particular, where the government is making a huge push to digitize and increase the accessibility of forms and records.
The new money will also go toward development of a platform that would allow business owners to build these apps themselves. The company charges a subscription fee for its services, and predicts it will hit profitability by 2010, VentureWire reports.