As the year comes to a close, it's time to reflect on the past 12 months and all that has been accomplished. CORA Group, a subsidiary of Constellation Software Inc., is proud to share our review of our performance in 2022. 2022 represented our formal launch as the CORA Group. While our team and businesses were built up over the past 5 years, in 2022, we took the next step to create a new identity and culture for the betterment of our employees and customers. Join us as we take a look back at our highlights of 2022:
Recent Acquisitions in 2022:
2022 saw us expand our strong presence in two of our existing verticals with a pair of strategic acquisitions. We welcomed RBRO Solutions into our family, a leading web-based document and email management provider for the legal and financial industries. RBRO serves professional firms looking for secure file collaboration, knowledge management, and information governance solutions. Founded in 2003 and being a premier iManage partner, RBRO offers a full-stack of solutions including consulting services and iManage integration functionality.
CORA also made a strategic addition to our moving/storage vertical with CompuMove, a powerful move management software that seamlessly brings together all of the different aspects of a moving company's operation into one fully integrated system. CompuMove continues to provide leading-edge information management systems exclusively for the moving and storage industry, making it a great addition to our portfolio of companies.
These two acquisitions have allowed us to expand our offerings and better serve our clients, and we are excited to continue to grow our portfolio of companies to provide even more comprehensive solutions.
Integration Spotlight - C&R Software
One of the major highlights for CORA throughout 2021 into 2022 was the successful integration of C&R Software into our operations. Ed Wallen, CEO of C&R Software, has been an invaluable asset to our team since the acquisition, providing guidance and mentorship to our staff and helping them grow. He also has generously offered to share his experience and lessons learned to other businesses who might be considering a transaction in the future. His perspective as a business leader in the financial services industry is an important one for others looking to grow and expand through these types of transactions.
Growth Beyond the Core at CORA
Additions to the Team
One of the most exciting developments at CORA in 2022 was the addition of several key members to our senior leadership team and M&A group.
The following net-new individuals have been added to our team, bringing a diverse range of experiences and expertise that will contribute to our continued growth and success:
• Chan Sathi - Director of IT & Security: Brings over 20 years of experience in Wall Street and Life Sciences industry and ability to lead the design and launch of innovative solutions and build strong relationships across organizational levels.
• Dylan Bass - Director of Legal: Joins us from Jonas Legal Counsel and brings his extensive knowledge to the team.
• Thomas Wu - M&A Associate: Previously with IBM, brings his BBA and Master of Finance degree to execute growth strategies for our portfolio.
• Kurt Bogart - M&A Business Development Associate: Background in supporting entrepreneurs and sales professionals and providing sound guidance, is a valuable addition to our team.
• George Chalmers - M&A Marketing Manager: A creative marketer from Jonas Corporate team, responsible for coordinating M&A marketing for CORA Group and developing the CORA brand.
• Amitesh Sabharwal - M&A Business Development Associate: Passionate for software companies and brings a combination of sales, business development, and entrepreneurial experience.
We're excited for these net-new additions to our team and the potential for success that lies ahead.
Inaugural CORA University - 2022
Our inaugural CORA University features breakout sessions on the latest trends in vertical market software, with presentations from industry leaders. In 2022, the event was hosted in August at the Kingbridge Centre, where CORA invited ~100 of our industry leaders.
Attendees had an opportunity to network and learn about strategies for growth within their company or business unit during interactive panels. The event was founded on the idea that knowledge-sharing can lead to a more successful business. Reuniting and networking in-person after a prolonged period of remote work due to COVID-19 added to the positive energy of the event, with attendees eagerly participating in the interactive panels and cherishing the opportunity to connect with industry peers.
At the event, attendees were treated to a lineup of industry leaders as guest speakers. Jumana Dholkawala, who joined us from one of our sister companies, spoke about the importance of employee engagement and how it can drive success for a business. Tip Quilter, on the other hand, emphasized the value of setting realistic expectations for progress and the dangers of striving for perfection in the workplace. These presentations provided valuable insights and sparked productive discussions. The attendees also engaged in social activities, including Drone Wars, where they used themselves to guide their team’s drones to victory in an obstacle course.
Overall, the 2022 CORA University was a huge success, and we're grateful for the opportunity to host such a valuable event. The insights and strategies shared during the event will undoubtedly help our attendees grow and succeed in their business operations. We look forward to continuing this tradition of knowledge-sharing and collaboration in the years to come.
Product Line Expansions
Another key highlight from 2022 is our commitment to expanding our product lines across several of our businesses. In the past year, we've made significant strides in this area by introducing new products that address the evolving needs of our customers. We've also invested in research and development to stay ahead of emerging trends and to continue to offer our customers the most innovative solutions in the industry.
Computrition introduced an innovative patient Bring Your Own Device (BYOD) meal ordering solution to the healthcare foodservice industry – HS onTray – enables hospitals to provide patients with the convenience of ordering meals using their personal devices.
Premier - Cortex Drawing Management
Premier is excited to announce its latest product Cortex DM (Drawing Management) - designed to transform how construction businesses collaborate on project drawings. This feature-rich platform provides a live project workspace that makes it easy for everyone to gain better visibility and control over every step of the project. From fast and accurate mark-up tools and revision control, to overlay mode and OCR capabilities - Cortex DM is a major game changer. Guests can easily access the latest drawings from any device ensuring a unified view for a unified team. Best of all, the integration to Premier will empower customer to easily issue RFIs, submittals, issues, change orders and more, adding more value to their current financial ERP software.
Enterprise - Jonas Cloud
Enterprise Construction Software offers a solution called, The Jonas Cloud, for clients to experience all of the benefits of Software-as-a-Service (SaaS) as they use Enterprise software to achieve their business ambitions. The Jonas Cloud ensures that clients can use Enterprise software in an “as-a-Service” model which ensures availability, performance, and data security of the Software. The Jonas Cloud also ensures that the Software is updated 4 times per year, which means that end users will use the latest features and enhancements of the Software – all to help them achieve their business ambitions. And finally, The Jonas Cloud reduces the Total-Cost-of-Ownership of deploying and managing The Enterprise software because IT teams can focus on other important business concerns while reducing the costs of deploying and managing the Software on-premise.
Shaping the Future: Our 2023 Vision
As we look ahead to the future, we're excited about the opportunities and challenges that lie ahead. At CORA, we're committed to shaping the future by focusing on our 2023 vision. Our vision for the future is to continue to be a leader in the vertical market software industry, providing cutting-edge solutions to our clients and driving growth through strategic acquisitions. We're focused on expanding our key verticals, while also investing in talent to stay at the forefront of the industry.
One of the key drivers of our 2023 vision is our commitment to strategic growth through acquisitions. We've doubled our M&A team this past year, and are committed to investing in team members, technology resources, and acquisition strategies throughout 2023. These changes will allow us to more effectively identify and pursue opportunities, streamline our due diligence process, and improve the integration process for the benefit of both employees and customers. With this increased focus on M&A, we're confident that we'll be able to drive significant growth for our company and provide more opportunities for our team to take the next step in their career.
We're confident that by staying true to our vision, we'll be able to achieve our goals and continue to thrive in an ever-changing market.
Closing the Book on 2022
As we look back on 2022, we're proud of the progress we've made and the impact we've had. We're grateful to our team, our clients and customers for their support and their contribution to our success. As we move into the new year, we're committed to continuing to grow and evolve, to provide the best solutions and services to our customers, and to shape the future of our M&A strategies. We look forward to another year of challenges and opportunities and we're ready to face them with determination, passion, and optimism. Thank you for being a part of our journey and we look forward to your continued support in the coming year.
Stay tuned for more updates and news from CORA Group.