• Vistara, KIA, Comerica help Mobify close $15 mln follow-on round September 21, 2017 5:38 pm
    Mobify, a Vancouver-based customer engagement platform, has raised funding from Vistara Capital Partners, Impulse International, an affiliate of Kuwait Investment Authority (KIA), Comerica Bank and other investors. The round adds to other recent investments made by Acton Capital, BDC Capital and Plaza Ventures, and brings the total raised to $15 million. Launched in 2007, Mobify provides progressive web apps for retailers and brands looking to close the gap between desktop and mobile conversion rates, keep up with customer expectations, and win loyal customer relationships. It is led by CEO Igor Faletski.
    Kirk Falconer
  • Venture-backed ScribbleLive acquires ion interactive September 21, 2017 4:07 pm
    Content experience platform ScribbleLive has acquired ion interactive, a Boca Raton, Florida-based provider of interactive content marketing software. No financial terms were released. ScribbleLive said the acquisition is its largest to date, bringing on more than 250 enterprise customers, and will add new interactive capabilities to its platform. Based in Toronto, ScribbleLive help brands, sports and media organizations manage the full lifecycle of their content. It has raised more than $60 million from investors, including Emerillon Capital, Georgian Partners, OpenText Enterprise Apps Fund, Rogers Ventures and Summerhill Venture Partners.
    Kirk Falconer
  • Manifold launches, nets $18.4 mln in OMERS Ventures-led Series A September 21, 2017 2:51 pm
    Manifold, a developer services platform, has emerged from stealth and raised about $18.4 million (US$15 million) in a Series A financing. The round was led by OMERS Ventures and joined by Boldstart Ventures, Version One Ventures, Amplify Partners and Leaders Fund. Based in Halifax and San Francisco, Manifold has created technology that supports developers by reducing the complexity of building and deploying applications with micro-services and third-party infrastructure services. Founded last year and led by CEO Jevon MacDonald, the company will use the funds raised to build its team, which already includes top developers, and expand its roster of services.
    Kirk Falconer
  • Emerald, EnerTech invest in $10 mln Series A round of Ushr September 20, 2017 7:49 pm
    Ushr Inc, a U.S. provider of autonomous vehicle navigation solutions, has raised US$10 million in a Series A financing. The round, which was commensurate with the company's spin-off from GeoDigital Inc, was led by Forté Ventures. It was joined by other investors, including Emerald Technology Ventures and EnerTech Capital, venture capital firms with offices in Canada. Ushr has developed precise, high-definition mapping technology and software for autonomous and semi-autonomous vehicles. Based in Detroit, Michigan, the company is led by CEO Bruce Gordon.
    Kirk Falconer
  • Renewal Funds leads Series B funding of FoodLogiQ September 20, 2017 7:20 pm
    FoodLogiQ, a U.S. provider of traceability, food safety and supply chain transparency software, has raised a Series B financing. The round, the value of which was not disclosed, was led by Renewal Funds, a Canadian impact venture capital firm. FoodLogiQ, which has its headquarters in Durham, North Carolina, said the funds raised will support its growth in the food technology space. Launched in 2006, the company is led by CEO Dean Wiltse.
    Kirk Falconer
  • Cybersecurity startup inBay Technologies lands $1 mln in VC September 20, 2017 3:17 pm
    Ottawa-based cybersecurity software startup inBay Technologies Inc has raised more than $1 million in financing. Dutch venture capital firm Ramphastos Investments co-led the round with angel investors represented by Tongda One Partners, a Canadian advisory firm. Founded in 2009, inBay develops password-less authentication solutions to ensure safe and secure access to enterprise services and applications. Shane Young, the company's president and CEO, said the funds raised will help accelerate commercialization of inBay's idQ trust-as-a-service platform.
    Kirk Falconer
  • Lumira Capital leads Edesa Biotech’s $7 mln Series A financing September 20, 2017 2:45 pm
    Edesa Biotech Inc, a developer of novel dermatology and anorectal treatments, has secured $7 million in a Series A financing. Lumira Capital, a Canadian life sciences venture capital firm, led the round and was joined by Pharmascience Inc, Inveready Technology Investment Group and several Canadian family offices. The funds raised will be used to support the Markham, Ontario company's growth and development of its product pipeline. Edesa was founded in 2015 by its CEO, Dr. Par Nijhawan, a serial entrepreneur. In parallel with the round, Edesa licensed the Canadian rights to its anorectal products to a division of Pharmascience.
    Kirk Falconer
  • BDC Capital provides $1 mln in funding to Mobi724 Global September 19, 2017 7:44 pm
    Montréal-based financial technology company Mobi724 Global Solutions Inc has secured $1 million in financing from the Growth & Transition Capital division of BDC Capital. The company said it will use the proceeds to accelerate its growth, including the addition of sales and marketing resources. Founded in 2008, Mobi724 provides EMV payment, card link couponing and digital marketing solutions. It is led by CEO Marcel Vienneau. Earlier this year, BDC Capital made available $1.8 billion in fresh funding for investments by Growth & Transition Capital.
    Kirk Falconer
  • Edison Partners exits eSentire with PE deal, will keep minority stake September 19, 2017 7:08 pm
    U.S. growth equity firm Edison Partners said it has exited eSentire Inc, a Cambridge, Ontario-based managed cybersecurity solutions provider. The exit, the result of a reported US$100 million-plus investment by U.S. private equity firm Warburg Pincus, generated a "meaningful return and IRR," Edison said. Edison made an initial investment in eSentire in 2013 and co-led last year's US$19.5 million financing. While the firm was invested, eSentire showed 8x revenue growth. With the Warburg deal, scheduled to close this month, Edison said it will maintain a minority ownership position in the company.
    Kirk Falconer
  • Biba secures $1.3 mln in Leonite-led pre-Series A financing September 19, 2017 4:46 pm
    Smart playground technology platform Biba Inc has raised $1.3 million in a pre-Series A financing. U.S. investor Leonite Capital led the round and was joined by Greg Zeschuk, co-founder of BioWare Corp, and Jason Kapalka, co-founder of PopCap Games Inc. Founded in 2014 by Ryan Nadel and led by CEO Matt Toner, Vancouver-based Biba develops augmented reality games and mobile apps to encourage parents and children in playground activities. To date, 1,000 Biba playgrounds have been installed across North America. The company will use the funds raised to fuel R&D, create more games, and install more playgrounds.
    Kirk Falconer
  • Aspect Biosystems closes first institutional round led by Pangaea September 18, 2017 3:41 pm
    Vancouver biotechnology company Aspect Biosystems Ltd has completed its first institutional financing. The round, the value of which was not disclosed, was led by Canadian venture capital firm Pangaea Ventures and joined by Endure Capital, Pallasite Ventures and Relentless Pursuit Partners, as well as other new and existing investors. Founded in 2013, Aspect is a developer of 3D bio-printing and tissue engineering technologies. Led by President and CEO Tamer Mohamed, the company plans to use the funds raised to back continued product development, expand its strategic partnerships, and commercialize its platform technology, Lab-on-a-Printer.
    Kirk Falconer
  • Slack valued at $5.1 bln after new funding led by SoftBank: Reuters September 18, 2017 2:06 pm
    Software startup Slack Technologies Inc said it raised US$250 million from SoftBank Group Corp and other investors in its latest funding round, boosting the company’s valuation to US$5.1 billion, Reuters reported. The latest fundraising, led by SoftBank through its giant Vision Fund and joined by Accel Partners and other investors, lifted Slack’s total funds raised to US$841 million, the enterprise messaging operator said in an e-mailed statement. The fund provides resources which will help Slack to run as a cash-generating company and the raise will reduce its dependence on outside financing, Slack CEO Stewart Butterfield said. San Francisco-based Slack, which has an office in Vancouver, was launched in 2014 by Butterfield, a Canadian entrepreneur.
    Reuters News
  • Ovensa raises $1.38 mln from Anges Québec, Aligo Innovation September 15, 2017 3:57 pm
    Canadian biotechnology startup Ovensa Inc has secured $1.38 million in follow-on financing. The round was backed by 22 members of angel organization Anges Québec, the affiliated Anges Québec Capital, and Aligo Innovation, a university research commercialization company. Founded in 2012, Aurora, Ontario's Ovensa develops technology with mucosal and brain-barrier crossing properties that can deliver medication to hard-to-reach parts of the body. It is mainly focused on oncology. Led by President and CEO Stéphane Gagné, the company plans to use the funds raised to further develop its platform.
    Kirk Falconer
  • Auto repair platform Fiix nets $2.2 mln in Javelin-led seed round September 14, 2017 2:06 pm
    Canadian auto repair platform Fiix said it raised about $2.2 million (US$1.8 million) of seed capital in a round led by Javelin Venture Partners and joined by Y Combinator and angel investors. The company will use the money to expand marketing, further product development and improve its customer experience. Fiix, based in Toronto, enables mechanics to repair cars at homes and offices. Fiix was founded in 2016 by President and CEO Arif Bhanji, CTO Khallil Mangalji and Chief Product Officer Zain Manji.
    Mark Boslet
  • Pangaea invests in NewLeaf Symbiotics’ $30 mln Series C September 13, 2017 6:50 pm
    St. Louis, Missouri-based agricultural biologicals company NewLeaf Symbiotics Inc has secured US$30 million in the second close of its Series C financing. S2G Ventures joined first close lead investors Monsanto Growth Ventures and Otter Capital, as well as other participating investors, among them Pangaea Ventures, a Canadian venture capital firm. NewLeaf said it plans to use the funds raised to commercialize seed treatment and in-furrow products for soybeans, corn, wheat, peanuts, and other crops. Vancouver-based Pangaea, which has backed NewLeaf since 2013, is currently raising its fourth advanced-materials fund.
    Kirk Falconer
  • AI startup DeepLearni.ng closes $9 mln Series A with Fidelity September 13, 2017 3:57 pm
    DeepLearni.ng, a Toronto-based artificial intelligence company, has raised $9 million in a Series A financing. The round was backed by mutual funds managed by the Canadian subsidiary of Fidelity Investments. DeepLearni.ng was founded last year by Co-CEOs Stephen Piron and Eric Lee, Chief of Machine Learning Ragavan Thurairatnam and COO Vincent Wong to design, build and deploy applied AI systems for enterprises. The close of the Series A coincides with its plan to scale development of Frontiers, a machine learning platform. DeepLearni.ng will use the funds raised to grow its global footprint in financial services and other industries and add to its team.
    Kirk Falconer
  • E-learning solutions provider Lambda raises $2.2 mln in funding September 13, 2017 1:35 pm
    Vancouver-based e-learning solutions provider Lambda Solutions Inc has secured $2.2 million in non-dilutive funding. The source of the capital was Quantius, a Canadian lender to innovative businesses. The deal's proceeds will be used to grow the company's international reach and accelerate product growth and innovation. Established in 2002 and led by CEO Shevy Levy, Lambda provides online learning management systems technology, training and services to enterprises in education, healthcare and other sectors. It has also received funding from TIMIA Capital Corp.
    Kirk Falconer
  • Foodee secures second tranche of $10 mln Series A round September 12, 2017 3:46 pm
    Vancouver meal delivery startup Foodee has raised the second tranche of a $10 million Series A financing. The round, initially closed last year, was led by BDC Capital and joined by Kensington Capital Partners, by way of the BC Tech Fund, Yaletown Partners, Structure Capital and Voyager Capital. Founded in 2012, Foodee has developed an online platform that connects offices with top restaurants. It today partners with more than 500 restaurants and serves more than 8,000 customers. Led by CEO Ryan Spong, the company will use the funds raised to enhance its platform and continue expansion into cities across Canada and the United States.
    Kirk Falconer
  • Mobile Klinik secures $6.85 mln in Kensington-led Series B September 11, 2017 7:08 pm
    Smartphone and tablet repair company Mobile Klinik has raised $6.85 million in a Series B financing. The round was led by Canadian alternative asset management firm Kensington Capital Partners. It was joined by individual investors, including Tim McGuire, formerly of McKinsey & Co, and Rob Pitfield, formerly of Scotiabank. With the deal, McGuire has joined the board and will serve as chairman. Based in Ottawa, Mobile Klinik was launched in 2015 by wireless and retail executives, including CEO Rob Bruce, the former president of Rogers Communications Inc. It currently operates a chain of 20 stores in Ontario, Québec and Alberta.
    Kirk Falconer
  • SpecificiT wins seed funding from AmorChem, Sanderling, Accel-Rx September 11, 2017 3:37 pm
    Montréal-based biopharmaceutical startup SpecificiT Pharma Inc has raised an undisclosed seed-stage financing. Existing investor AmorChem, a Canadian life sciences seed fund, backed the round alongside new investors, Sanderling Ventures and Accel-Rx Health Sciences Accelerator. With the deal, Dr. Pierre Beauparlant, a Sanderling venture partner, will become the company's CEO. SpecificiT, first financed by AmorChem in 2013, is developing cellular therapies for the treatment of hematological cancers. It will use the funds raised to complete manufacturing and process development and add to the management team.
    Kirk Falconer
  • Jetti Resources raises $24 mln, Kleiner Perkins among likely investors September 8, 2017 3:37 pm
    Jetti Resources, a natural-resources-tech startup, has raised about $24 million (US$18.7 million) in a Series A financing, apparently with the help of some heavyweight U.S. investors. The Vancouver company, founded in 2014, reported securing most of its funding target in an August filing with the U.S. Securities and Exchange Commission. Jetti told PE Hub Canada the round was closed shortly afterward at the full amount. The round’s backers were not disclosed but likely include Silicon Valley venture firm Kleiner Perkins Caufield & Byers. Kleiner Perkins is identified as an investor on Jetti’s website alongside DNS Capital, a U.S. family office.
    Kirk Falconer
  • Auto suppliers join funding for self-driving laser sensor firms: Reuters September 8, 2017 2:00 pm
    Two makers of laser-based sensor technology announced new funding rounds this week, with top automotive suppliers Delphi Automotive, Magna International and Magneti Marelli investing in the competitive technology considered key to self-driving cars, Reuters reported. Israel’s Innoviz Technologies announced a US$65 million funding round, joined by Delphi and Magna, and Canada’s LeddarTech said its US$101 million ($130 million) funding round included Delphi and Magneti Marelli. Lidar, which relies on light pulses reflected off objects to gauge their position on and near the road, is seen by most automotive experts as one of the crucial elements for full self-driving cars and has become a prime focus.
    Reuters News
  • LeddarTech raises $130 mln to advance sensors for self-driving cars September 7, 2017 8:13 pm
    LeddarTech Inc, a Québec City-based provider of optical detection and ranging technology, has raised about $130 million (US$101 million) in a Series C financing. Strategic investor Osram, which acquired a stake in the company in July, led. It was joined by Delphi, Magneti Marelli, Integrated Device Technology and Fonds de solidarité FTQ. Established in 2007, LeddarTech is the developer of LiDAR sensing technology used in self-driving cars. Led by CEO Charles Boulanger, the company will use the funds raised to enhance ASIC development efforts, expand R&D, and accelerate LiDAR development with select automotive customers to advance market deployment.
    Kirk Falconer
  • Venture-backed Vision Critical buys venture-backed Pressly September 7, 2017 4:39 pm
    Vision Critical has acquired Pressly, a Toronto-based software company focused on the curation and distribution of marketing content. Terms weren't released. Vision Critical, a Vancouver-based customer intelligence software platform, said the deal offers its customers an ability to share insight with internal stakeholders and community members, creating stronger customer relationships. Founded in 2011, Pressly has been backed by Gibraltar Ventures, iNovia Capital and OMERS Ventures, among others. Vision Critical is also venture-backed. In February, Georgian Partners and W Capital Partners bought shares from the company's early investors.
    Kirk Falconer
  • Freshly funded Automat, Element AI unveil strategic alliance September 6, 2017 7:51 pm
    Automat, an artificial intelligence (AI)-driven conversational marketing platform, has entered into a strategic alliance with Element AI, an AI solutions provider. The partnership will focus on leveraging the platforms of the two companies to deliver AI capabilities and ensure customers of both have access to "the products, technology and expertise required to develop messaging experiences of any nature or complexity." In June, Montréal-based Element AI raised about $137.5 million (US$102 million) in a Series A round. Automat, which is also based in Montréal, in the same month secured about $11 million (US$8.3 million) in a Series A.
    Kirk Falconer
  • AlayaCare secures additional $2.4 mln from Fonds Innovexport September 6, 2017 7:15 pm
    Canadian home healthcare software company AlayaCare Inc has raised $2.4 million in follow-on financing. The round was backed by Fonds Innovexport, a vehicle created by a group of entrepreneurs together with Caisse de dépôt et placement du Québec, Fondaction CSN, Fonds de solidarité FTQ, Investissment Québec and others. AlayaCare said it will use the funds raised to build on three-year annual sales growth of more than 125 percent and invest in its product and employees. Founded in 2014 by CEO Adrian Schauer, Alayacare has offices in Toronto and Montréal. It is also backed by Klass Capital and other investors.
    Kirk Falconer
  • Avrio Capital invests $20 mln in Phytelligence, M2, Morris Industries September 6, 2017 6:40 pm
    Canadian venture capital firm Avrio Capital said its third late-stage agribusiness fund has deployed about $20 million across three new platform investments. Avrio Ventures III joined other investors in backing Seattle, Washington plant genetics and propagation specialist Phytelligence Inc. It also invested alongside of White Road Investments in the Series A financing of Carlsbad, California's Organic Mushroom Nutrition (M2). Finally, Fund III acquired a majority stake in Morris Industries Ltd, a Saskatoon maker of technology-based agricultural equipment. As a result of that recapitalization deal, Avrio's Aki Georgacacos and Steven Leakos will join the company's board.
    Kirk Falconer
  • Absorb Software snags $59 mln in Silversmith-led financing September 6, 2017 4:54 pm
    Absorb Software Inc, a Calgary provider of cloud-based learning and performance management software, has secured $59 million in funding. The investment was led by Silversmith Capital Partners, a U.S. growth equity firm. Founded in 2002, Absorb currently serves more than 2.5 million learners each month across 600 global customers. Led by President and CEO Mike Owens, an Absorb co-founder, the company plans to use the deal's proceeds to further develop its flagship product, Absorb LMS, a learning management system for businesses, higher-education institutions, and government and non-profit agencies, and expand its geographic footprint.
    Kirk Falconer
  • Integrate.ai raises $5.7 mln follow-on round led by Real Ventures September 6, 2017 4:22 pm
    Integrate.ai, a Toronto-based artificial intelligence (AI) enterprise software company, has raised about $5.7 million (US$$4.625 million) in a follow-on financing. The round was led by Real Ventures, according to a report by the Globe and Mail. It was joined by several other investors, including Georgian Partners, which led the US$5 million seed round that launched Integrate.ai earlier this year. A larger Series A financing is planned for 2018. Integrate.ai, founded by CEO Steve Irvine, Facebook Inc’s former marketing-partner program head, also announced appointments to its strategic advisory board, including Georgian's Justin LaFayette and Real Ventures' Mike Shaver.
    Kirk Falconer
  • Edtech startup Classcraft raises $2.8 mln in Whitecap-led round September 5, 2017 4:05 pm
    Education technology startup Classcraft Studios Inc has secured $2.8 million in an early-stage financing. Canadian venture capital firm Whitecap Venture Partners led the round and was joined by Brightspark Ventures, MaRS Catalyst Fund and other investors. Based in Sherbrooke, Québec and New York, Classcraft has created an online educational tool that utilizes game mechanics to improve student engagement. Launched in 2013 by CEO Shawn Young, President Devin Young and CFO Lauren Young, the company's tool is today used by more than 2.5 million students worldwide. It will use the funds raised to scale the platform and integrate new curriculum.
    Kirk Falconer
  • Impression Ventures leads $2.25 mln seed financing of Finaeo September 5, 2017 2:37 pm
    Toronto insurtech platform Finaeo Inc has raised $2.25 million in a seed-stage financing. The round was led by Impression Ventures, whose founder and managing partner, Christian Lassonde, will join the board. 500 Startups, Robo Ventures and iGan Partners also invested. Founded in 2016 by CEO Aly Dhalla, COO Donald Chu and CTO Aaron Alsop, Finaeo has developed a software-as-a-service platform that automates the back-office administration of insurance advisors. It will use the funds raised to hire engineering talent to further enhance the technology. Earlier this year, Impression closed its second fund at more than $30 million.
    Kirk Falconer
  • LookBookHQ scores $13.6 mln in Edison-led Series B funding September 5, 2017 1:20 pm
    LookBookHQ Inc, a Toronto-based content marketing automation platform, has secured about $13.6 million (US$11 million) in a Series B financing. The round, which brings the company's total funding to about $18.8 million (US$15 million), was led by U.S. venture capital firm Edison Partners. Founded in 2012 by CEO Mark Opauszky and President and CPO Nick Edouard, LookBookHQ has created software that helps organizations accelerate sales-ready prospects. It reports realizing 2.5x recurring revenue growth since last year's Series A round, also led by Edison. LookBookHQ will use the latest funds raises to scale sales and marketing and advance product innovation.
    Kirk Falconer
  • SPORTLOGiQ inks Series A August 30, 2017 7:26 pm
    Montreal-based SPORTLOGiQ, a developer of sports statistics solutions, has raised C$5 million in Series A funding. Rho Canada Ventures L.P. and Anges Quebec Capital S.E.C led the round with participation from other investors that included Mark Cuban and TandemLaunch.
    Iris Dorbian
  • Montreal VR/AR reality content studio UNLTD snaps up C$1.1 mln seed August 30, 2017 6:53 pm
    Montreal-based UNLTD, a virtual and augmented reality content studio, has raised C$1.1 million in seed funding. The investors included Richard D. Adler of Interdomus, David Reckziegel of Rex Media Capital and Senvest Capital. In conjunction with the funding, Adler and Stuart Cobbett of Rex Media Capital will join UNLTD's board.
    Iris Dorbian
  • Canada-based chat platform Kik to launch $125 million token sale: Reuters August 30, 2017 2:08 pm
    Kik Interactive, the Ontario, Canada-based creator of the global chat platform Kik, valued at $1 billion, said on Tuesday it will launch in two weeks the sale of its own crypto currency which is expected to raise $125 million.
    Reuters News
  • Restaurant staff scheduling software provider nabs $3.5 mln August 30, 2017 2:01 pm
    Saskatoon, Canada-based 7shifts, a provider of employee scheduling software for restaurants, has secured $3.5 million in funding. The investors were Tandem Capital and Relay Ventures.
    Iris Dorbian
  • Ideal raises $3 mln from group including MaRS August 29, 2017 3:15 pm
    Ideal, a Toronto-based company providing artificial intelligence solutions for recruiting, announced this week that it has raised $3 million in venture capital funding from a consortium of investors including MaRS Investment Accelerator Fund, with proceeds earmarked for supporting new and existing customers.
    Gavin Penny
  • Cannabis tech platform HERB lands $4.1 mln seed August 29, 2017 2:16 pm
    Toronto and Los Angeles-based HERB, a cannabis tech platform, has raised $4.1 million in seed funding. Lerer Hippeau Ventures led the round with participation from Slow Ventures, Michael Lazerow, Bullpen Capital, Shiva Rajarama, Liquid 2 Ventures, Tobi Lutke, Harley Finkelstein and Adam Zeplain.
    Iris Dorbian
  • Rx Drug Mart completes $10 mln growth-equity round from BDC, Persistence August 28, 2017 2:48 pm
    Rx Drug Mart said this week that it received a $10 million minority equity investment from BDC Capital to support its growth strategy and acquisition of 27 former Rexall pharmacies in Alberta, British Columbia, the Northwest Territories, Ontario and Saskatchewan. Co-investors included healthcare-focused Persistence Capital Partners. PRESS RELEASE BDC completes $10 million equity investment in Rx Drug Mart […]
    Gavin Penny
  • TimePlay secures $8 mln in first tranche of Series A round August 25, 2017 5:08 pm
    TimePlay Inc, a Toronto-based technology media company, has raised $8 million in the first tranche of a Series A financing. The round's backers were unidentified accredited investors, with Cranson Capital Securities acting as the agent. TimePlay specializes in interactive experiences for mobile and other second screen devices. Launched in 2006 by President and CEO Jon Hussman, the company has deployed its platform technology on more than 1,000 screens across North America. It plans to use a portion of the funds raised to continue expanding its cinema business in the United States and worldwide as well as pursue new verticals.
    Kirk Falconer
  • Desjardins Insurance joins Roost’s $10.4 mln Series B round August 24, 2017 8:05 pm
    Roost Inc, a Sunnyvale, California-based developer of smart home technology, has raised US$10.4 million in a Series B financing. The round included investments from insurance companies led by Aviva Ventures and was joined by Desjardins General Insurance Group, a Canadian property and casualty insurance provider, among others. Roost provides connected solutions that give early warnings of danger or property damage. Desjardins Insurance, an affiliate of Montréal-based Desjardins Group, has a partnership with the company to deploy its home telematics solution.
    Kirk Falconer
  • Venture-backed Tantalus buys venture-backed Energate August 24, 2017 6:51 pm
    Tantalus Systems Corp has acquired Energate Inc, an Ottawa-based provider of interactive demand management solutions. The deal's financial terms were not disclosed. Tantalus, which has principal offices in Burnaby, British Columbia, and Raleigh, North Carolina, said the acquisition expands its smart grid application portfolio as well as its addressable market opportunity. Founded in 2004, Energate has been backed by Cycle Capital Management, among other investors. Tantalus is also venture-backed. Earlier this year, it raised $6 million in follow-on funding from several investors, including CT Innovations and Vareco Holdings.
    Kirk Falconer
  • Helios Wire nets $5 mln to build satellite-enabled IoT service August 22, 2017 2:23 pm
    Helios Wire, a Vancouver developer of a satellite-based Internet of Things (IoT) system, has secured about $5 million (US$4 million) in funding. The round's investors were not disclosed. Founded in 2016, Helios Wire is building a satellite-enabled monitoring and messaging service designed for market applications requiring low bandwidth and low service costs. Scott Larson, the startup's CEO and co-founder, said the goal is to ensure that "companies and organizations, regardless of size, are able to participate in the enabling technologies of IoT, particularly in the industrial sectors." The funds raised will support the launch of the first two satellites.
    Kirk Falconer
  • Retail app maker Tulip raises $40 mln from Kleiner Perkins, others: Reuters August 22, 2017 1:35 pm
    Tulip Retail, which makes an app for retailers, said this week it raised US$40 million ($50 million) in a funding round led by Kleiner Perkins Caufield & Byers. The Series B, which included existing investors such as Jump Capital, gives Kleiner Perkins' general partner, Mood Rowghani, a seat on the startup's board. Founded in 2013, Toronto-based Tulip has developed an app that helps retailers tailor in-store experiences by giving store employees faster access to real-time inventory and price comparison data among other things. Tulip said it was seeing rising demand in Europe, South America and Asia, and planned to open offices in these markets. "The main thing that we've been delaying at Tulip that now we can accelerate is our international growth," Tulip CEO Ali Asaria told Reuters.
    Reuters News
  • Immersv secures $10.5 mln in RVP-led Series A financing August 18, 2017 6:48 pm
    Immersv Inc, a U.S. interactive advertising platform, has raised US$10.5 million in a Series A financing. The round was led by Rogers Venture Partners (RVP), the venture capital arm of Canadian communications and media business Rogers Communications Inc. It was joined by Foundation Capital, The Venture Reality Fund, Initial Capital, East Ventures, HTC Vive and GREE, among other investors. With the round, RVP General Partner Paul Sestili joined the board. Founded in 2015, Emeryville, California's Immersv has developed technology that helps advertisers connect with consumers through interactive mobile 360 and virtual reality.
    Kirk Falconer
  • VR training platform Serious Labs wins $6.4 mln in Series A round August 17, 2017 2:12 pm
    Serious Labs Inc, an Edmonton-based developer of virtual reality (VR) solutions, has secured about $6.4 million (US$5 million) in a Series A financing. U.S. equipment rental company United Rentals Inc and U.S. venture capital firm Brick and Mortar Ventures were the round's investors. Launched in 2005, Serious Labs has developed technology like VR to facilitate interactive skills training in the workplace. It has a global customer base in the construction, mining, plant and maintenance, and oil and gas industries. Led by CEO Jim Colvin and President Ken MacLean, Serious Labs will use the funds raised to fuel continued growth, product innovation and market share.
    Kirk Falconer
  • Cannabis media platform Lift raises $3 mln in Series A round August 15, 2017 5:04 pm
    Lift Co Ltd, a Toronto cannabis media and technology company, has raised $3 million in a Series A financing. The round's investors were not disclosed. Founded in 2014, Lift provides a range of cannabis-related education, news and information resources, including industry events, industry publications, a database of medical cannabis products, and patient reviews in Canada. Led by CEO Matei Olaru, it plans to use the funds raised to strengthen its core product offerings and "begin preparing for adult-use legalization next year.”
    Kirk Falconer
  • Wellington Financial commits $4 mln to help grow Agilence August 14, 2017 4:50 pm
    Canadian specialty finance firm Wellington Financial has provided US$4 million in growth capital to Agilence Inc, a Mount Laurel, New Jersey provider of cloud-based analytics for store operations and loss prevention. Founded in 2006, Agilence works with more than 118 brands encompassing over 35,000 stores. The funds raised will allow it to focus on product development and team expansion to meet the needs of U.S. retail, grocery, pharmacy and chain restaurant establishments. Last month, Wellington opened a New York City office to support financings of local venture-backed technology companies. Agilence's backers include Arrowroot Capital.
    Kirk Falconer
  • Auvik Networks lands $15 mln in OpenView-led Series B round August 10, 2017 12:48 pm
    Auvik Networks Inc, a Waterloo-based provider of network monitoring and management software for managed service providers, has secured $15 million in a Series B financing. The round was led by U.S. venture capital firm OpenView with participation from the company's existing Canadian investors Celtic House Venture Partners and Rho Canada Ventures. As a result, OpenView Partner Ricky Pelletier will join the board. The funds raised will be used for product development, partner initiatives, and growth into new markets. Auvik was founded in 2011 by CEO Marc Morin, CTO David Yach and VP Alex Hoff. Morin, a serial founder, was interviewed by PE Hub Canada in 2014.
    Kirk Falconer
  • SDTC invests $15.5 mln in six Ontario cleantech companies August 9, 2017 7:45 pm
    Sustainable Development Technology Canada (SDTC) has invested $15.5 million in six Ontario clean technology companies. The companies are Electrovaya Inc, an electric batteries developer; BionX International Corp, a maker of electric drive systems; 3E Nano Inc, a creator of energy-efficient window coatings; GreenMantra Technologies, a converter of recycled plastics into waxes; Peak Power Inc, a battery storage capacity specialist, and; Vive Crop Protection, an agricultural technology company. The federal government this year committed $400 million to SDTC's SD Tech Fund, which backs early-stage clean technology projects.
    Kirk Falconer
  • Morgan Stanley-backed Voices.com to buy Voicebank.net August 9, 2017 3:55 pm
    London, Ontario voice-over online marketplace Voices.com has agreed to acquire Voicebank.net, a Beverly Hills, California online platform for casting and project management workflow. No financial terms were released. Voices.com, which connects buyers of audio and voice-over products and services with voice actors, said the combination of the two companies will address all market segments and include all engagement types, from animation dubbing to TV spots to podcasts to gaming. Founded in 2005, Voices.com is led by CEO David Ciccarelli. In July, it secured $18 million in funding from Morgan Stanley Expansion Capital.
    Kirk Falconer
  • Fonds de solidarité FTQ discloses $13.4 mln Clementia financing August 3, 2017 6:37 pm
    Fonds de solidarité FTQ has disclosed a March 2017 investment in Clementia Pharmaceuticals Inc, a Montréal clinical-stage biopharmaceutical company. The investment provided Clementia with about $13.4 million (US$10 million) in funding. Fonds de solidarité FTQ also said it is participating in the company's initial public offering, which was priced this week to raise as much as $172 million (US$138 million). Clementia, which was launched in 2010, is developing treatments for patients suffering from debilitating bone and other diseases.
    Kirk Falconer
  • Cannabis brand Tokyo Smoke closes initial $4 mln Series B August 3, 2017 5:25 pm
    Tokyo Smoke, a Toronto-based cannabis lifestyle and retail brand, has raised $4 million in the first close of its Series B financing. The round, which is expected to this month exceed $5 million, was led by Aphria Inc, a Canadian medical cannabis producer, and Green Acre Capital, a Canadian cannabis-focused private investment firm, and joined by new and existing investors. Tokyo Smoke earlier this year said it was partnering with Aphria to release several branded cannabis strains. The announcement was made at the time of its $3 million Series A round. Tokyo Smoke was founded in 2015 by CEO Alan Gertner and Chairman Lorne Gertner.
    Kirk Falconer
  • Chickapea Pasta scores investment from District Ventures Capital August 3, 2017 4:48 pm
    Chickapea Pasta, a Collingwood, Ontario maker of organic, high-protein and high-fibre pasta, has secured an undisclosed investment from Canadian consumer venture capital firm District Ventures Capital. Chickapea Pasta, founded in 2015 by CEO Shelby Taylor, closed the financing after completing a six-month program with District Ventures Accelerator. The fund and the accelerator are led by Arlene Dickinson, a Dragon's Den star and entrepreneur. Chickapea Pasta, which currently sells in Canada and the United States, will use the funds raised to support its growth strategy, which includes the introduction of a second product line.
    Kirk Falconer
  • Lending Loop secures $2 mln in MaRS IAF-led financing August 2, 2017 6:45 pm
    Toronto peer-to-peer lending marketplace Lending Loop has raised $2 million in financing. The round was led by Canadian early-stage venture capital fund MaRS Investment Accelerator Fund and joined by finance and technology investors. Lending Loop said the funds raised backed the roll-out its new automated investing product, Auto-Lend, and will support new product expansion. Founded in 2014 by CEO Cato Pastoll and CTO Brandon Vlaar, Lending Loop has facilitated more than $7 million of small business financing with the help of over 9,500 investors. It closed its seed round in 2015.
    Kirk Falconer
  • Zoma Capital tops up Enbala’s Series B round to $17.5 mln August 2, 2017 4:33 pm
    Enbala Power Networks has secured funding from Zoma Capital, the investment arm of a U.S. family office. It resulted in a second close of Enbala's Series B financing, bringing the round's total to $17.5 million. The initial close, announced earlier in 2017, was led by ABB Technology Ventures, with participation from National Grid, GE Ventures, Obvious Ventures, EnerTech Capital and Chrysalix Venture Capital. Vancouver-based Enbala provides distributed energy resource management software to make power grids greener and more efficient. Founded in 2003, the company is led by President and CEO Arthur “Bud” Vos.
    Kirk Falconer
  • RTM startup Betterez wins strategic investment from JetBlue August 1, 2017 7:50 pm
    Toronto reservations and ticketing software platform Betterez Inc has raised a strategic investment from JetBlue Technology Ventures (JTV), the venture capital arm of JetBlue Airways Corp (NASDAQ: JBLU), a U.S. discount airline. No financial terms were released. The deal follows the company's seed financing in March, led by the venture fund of Amadeus IT Group. Launched in 2011 by CEO Tal Shalit, Betterez helps modernize bus and motorcoach operators by digitizing their businesses and introducing online booking, mobile ticketing and e-commerce. It said the JTV partnership will support continued growth and innovation.
    Kirk Falconer
  • VC-backed Flexiti Financial raises $6.25 mln in convertible debt August 1, 2017 7:07 pm
    Toronto-based sales financing company Flexiti Financial has raised $6.25 million in a convertible debentures offering. The source of the funding was not disclosed. Flexiti, which offers point-of-sale financing and payment technology to retailers, said the funds raised will support continued growth and development of its platform. Founded in 2013 by CEO Peter Kalen, Flexiti reports its platform is currently used in more than 1,500 merchant locations and by more than 10,000 Canadian customers. The company closed a $5 million Series A financing last November.
    Kirk Falconer
  • Milestone Pharmaceuticals nets $68 mln in Novo-led Series C August 1, 2017 4:13 pm
    Montréal clinical-stage cardiovascular company Milestone Pharmaceuticals Inc has secured more than $68 million (US$55 million) in a Series C financing. The round, which brings Milestone's total funding to more than $100 million, was led by Denmark's Novo Holdings A/S. It was joined by new and existing investors, including Forbion Capital Partners, Tekla Capital Management, Domain Associates, Fonds de solidarité FTQ, BDC Capital, Pappas Capital and GO Capital. The funds raised will be used to advance Milestone's lead product, etripamil, into Phase 3 and pre-launch development. Founded in 2005, Milestone is led by President and CEO Joseph Oliveto.
    Kirk Falconer
  • RentMoola inks $5 mln financing deal with TriView Capital July 31, 2017 5:21 pm
    RentMoola Payment Solutions Inc has agreed to have TriView Capital lead a $5 million financing for the company. RentMoola, a Vancouver financial technology provider, said the funds raised will support its continued North American growth and execution of several strategic partnerships, scheduled to launch in Q1 2018. Founded in 2013 by CEO Patrick Postrehovsky and COO Philipp Postrehovsky, RentMoola operates an online payments network that allows tenants and owners to pay rent. It last year raised $5 million from a consortium led by Conservice LLC and principals of Wyse Meter Solutions Inc.
    Kirk Falconer
  • India’s Snapdeal calls off sale to rival Flipkart: Reuters July 31, 2017 4:32 pm
    India's Snapdeal said it had decided to remain independent and was ending all talks regarding a sale, bringing the curtain down on months of discussions around a possible acquisition of the e-commerce business by bigger rival Flipkart, Reuters reported. The board of Jasper Infotech, which runs Snapdeal, had agreed in principle to Flipkart's revised buyout bid of up to US$950 million and a deal was pending approval of smaller shareholders, Reuters previously reported. But obstacles remained with sources saying founders Kunal Bahl and Rohit Bansal were considering an alternate path. Snapdeal's investors include Ontario Teachers' Pension Plan, which led a US$200 million financing of the company last year.
    Reuters News
  • Clean energy platform CoPower raises $2 mln in latest round July 31, 2017 2:42 pm
    Clean energy investment platform CoPower Inc has secured $2 million in its latest financing. The round was led by Fondaction CSN and joined by new and existing investors, including Royal Bank of Canada, Innovation Support, Ferst Capital Partners and Laurie Thomson. Montréal-based CoPower operates an online platform that leverages investments from individuals to fund clean-energy project developers. It has so far raised $12 million in loans for community-scale projects, such as LED lighting retrofits and geothermal heating and cooling for homes. CoPower was founded in 2013 by CEO David Berliner and President Raphael Bouskila.
    Kirk Falconer
  • Digital asset investor NextBlock secures $20 mln in funding July 31, 2017 2:02 pm
    NextBlock Global, a Toronto-based digital asset investment company, has secured $20 million in financing. The investors in the round were not disclosed. Recently launched by Founder and CEO Alex Tapscott, NextBlock is focused on investing in entrepreneurs and startups in the global market for digital assets, such as Bitcoin and Ethereum. Tapscott said his company has encountered demand from institutional and strategic investors looking to gain exposure to blockchain and cryptocurrency technology opportunities. NextBlock will use the funds raised to create a diversified portfolio of investments in the space. Tapscott is the co-author of Blockchain Revolution.
    Kirk Falconer
  • Osram acquires 25.1 pct stake in venture-backed LeddarTech July 28, 2017 3:02 pm
    Osram GmbH has acquired a strategic 25.1 percent interest in LeddarTech Inc, a Québec City-based provider of optical detection and ranging technology. The deal, valued in the "mid double-digit million euros," will form part of a larger financing expected to close shortly, LeddarTech CEO Charles Boulanger said. Germany's Osram, a lighting manufacturer, said its investment responds to increasing demand for LiDAR technology used in self-driving cars and other mobility applications. Founded in 2007, LeddarTech has raised funding from several sources. They include BDC Capital and GO Capital, which invested $7 million in the company in 2014.
    Kirk Falconer
  • Precision med startup PreciThera nets $36 mln in Series A round July 27, 2017 2:21 pm
    Precision medicine company PreciThera Inc has raised $36 million in a Series A financing. The round, which follows PreciThera's seed funding in May, was backed by Sanderling Ventures, Arix Bioscience, Fonds de solidarité FTQ, CTI Life Sciences and Emerillon Capital. Montréal-based PreciThera is focused on designing biological therapeutics for the treatment of orphan bone diseases. It plans to use the funds raised to develop novel molecules and advance its lead therapeutic candidate through IND and into clinical studies. The company was founded in 2016 by Dr. Philippe Crine, who previously founded Enobia Pharma Corp, and Dr. Susan Schiavi.
    Kirk Falconer
  • Cyclica raises $2.25 mln in Series A2 round led by GreenSky July 26, 2017 9:45 pm
    Cyclica Inc has secured $2.25 million in a Series A2 financing, an extension of the $2.4 million Series A1 financing closed last year. The latest round was led by Canadian finance advisory firm GreenSky Capital via GreenSky Accelerator Fund II. It was joined by other new and existing investors, including Epic Capital, Uni-Innovate Group and HH&E Ventures. Founded in 2013, Toronto-based Cyclica provides a software platform that helps pharmaceutical companies assess the safety and efficacy of drugs. Led by President and CEO Naheed Kurji, the startup will use the funds raised to continue commercializing its platform globally and invest in R&D.
    Kirk Falconer
  • Georgian leads $22.5 mln Series B funding of Sentient Science July 26, 2017 8:55 pm
    Sentient Science, a U.S. materials science-based software-as-a-service company, has raised US$22.5 million in a Series B financing. The round, Sentient's third since its founding in 2001, was backed by Canadian growth equity firm Georgian Partners. Buffalo, New York-based Sentient provides prognostic health monitoring and life extension actions to reduce costs and improve the reliability of rotating mechanical equipment, such as wind turbines. It will used the funds raised for new hires, software platform enhancements, and to facilitate the company's entrance into the commercial aerospace and rail markets.
    Kirk Falconer
  • Closed Loop to invest up to $3 mln in GreenMantra Technologies July 26, 2017 3:39 pm
    Brantford, Ontario clean technology company GreenMantra Technologies has secured up to $3 million in financing from Closed Loop Fund, a social impact fund managed by U.S.-based Closed Loop Partners. The proceeds will be used to expand the capacity of its manufacturing operations, which convert post-consumer and industrial waste plastics into high-value polyethylene and polypropylene waxes. The waxes are used in a range of industrial applications. GreenMantra's other investors include ArcTern Ventures and Cycle Capital Management, which backed a $5.5 million round last year. The company is led by President and CEO Kousay Said.
    Kirk Falconer
  • Dane Creek Capital to buy pet assets of Nature’s Way Canada July 25, 2017 3:47 pm
    Dane Creek Capital Corp (DCCC) has agreed to acquire the non-manufacturing pet assets of Nature's Way Canada, a Dartmouth, Nova Scotia maker of supplements for dogs and cats under the CanineOmega3 and FelineOmega3 brands. Terms were not disclosed for the deal, which will see DCCC acquire all current and future brand formulations. Nature's Way will also continue to produce supplements for DCCC over a six-year period. DCCC, a Canadian investor in pet-related startups, said the deal will create a range of supplements to "meet the needs of health-conscious pet owners shopping online, in pet specialty retail stores and in mass retail and grocery stores."
    Kirk Falconer
  • iNovia Capital leads $8 mln Series A financing of SnapTravel July 25, 2017 3:16 pm
    Hotel booking service SnapTravel has secured $8 million in a Series A financing. Canadian venture capital firm iNovia Capital led the round and was joined by existing backers Lightbank, Bee Partners and Hedgewood, as well as strategic investor Peter Kern. Founded in 2016 by CEO Hussein Fazal and CTO Henry Shi, both serial entrepreneurs, SnapTravel uses natural language processing and machine learning to help users of its service find and book a hotel room over SMS texts and Facebook Messenger. It plans to use the funds raised to further develop its technology, hire engineers and fuel growth. SnapTravel has offices in Toronto and San Francisco.
    Kirk Falconer
  • Power Survey raises $30 mln in Series A2 financing round July 24, 2017 1:40 pm
    Montréal-based power quality systems maker Power Survey and Equipment Ltd has raised about $30 million (US$24 million) in a Series A2 financing. The round was initiated by the company's majority investor EnerTech Capital and Investissement Québec (IQ) alongside new investors led by Cycle Capital Management, joined by Fonds de solidarité FTQ and BDC Capital. Power Survey used part of the funds raised to buy Power Standards Lab Inc, a U.S. maker of electric power instruments, earlier in July. They will also be used for geographic and product line expansion. Led by President and CEO Mario Barbaresso, Power Survey last year raised $10 million from EnerTech and IQ.
    Kirk Falconer
  • Real Ventures invests in Insight Engines’ $15.8 mln Series A July 21, 2017 5:34 pm
    Insight Engines Inc has raised US$15.8 million in a Series A financing. The round was led by U.S. venture capital firm August Capital, with participation from several other investors, including Splunk, Real Ventures, a Canadian venture capital firm, and Data Collective. Founded in 2015, San Francisco-based Insight Engines develops technology that enables the unlocking of machine data and making it accessible to anyone in an organization. Led by CEO Grant Wernick, the company plans to use the funds raised to accelerate its product roadmap and expand sales and marketing teams.
    Kirk Falconer
  • Fintech platform Borrowell raises $12 mln in VC, $45 mln in debt July 21, 2017 2:40 pm
    Toronto financial technology company Borrowell has secured $12 million in a Series A financing. The round was led by Portag3 Ventures, Equitable Bank and White Star Capital and joined by FirstOntario Credit Union and other new and existing investors. The company said it also raised $45 million in new credit facilities supplied by Concentra and FirstOntario. Launched in 2014, Borrowell provides an online system for users to access free credit scores, personal loans and financial recommendations. Led by CEO Andrew Graham, it will use the funds raised to accelerate product adoption and invest in artificial intelligence to enhance its financial tools.
    Kirk Falconer
  • Fintech provider TickSmith wins $2 mln strategic investment July 20, 2017 2:44 pm
    Montréal-based financial technology startup TickSmith Corp has closed a $2 million strategic investment with Illuminate Financial Management, a U.K. venture capital firm. Launched in 2012, TickSmith provides software that helps manage capital markets data. Its assists exchanges, trading groups and other financial services businesses with data centralization and distribution, surveillance, risk management, strategy discovery and analytics. Led by Co-Founder and CEO Francis Wenzel, the company plans to use the funds raised to further commercialize its flagship product, TickVault, and build a global client base.
    Kirk Falconer
  • Chat platform Ada Support raises $2.5 mln in Bessemer-led round July 20, 2017 2:07 pm
    Ada Support Inc has emerged from stealth to launch its automated chat platform and raise $2.5 million in initial funding. The round was led by U.S. venture capital firm Bessemer Venture Partners and joined by Canadian firm Version One Ventures. Led by Co-Founders Mike Murchison and David Hariri, Toronto-based Ada provides customer support automation software that enables companies to leverage machine learning to give instant answers to questions in chat. The platform has been growing 30 percent and answering 2 million questions on a monthly basis, the company said. Ada will use the funds raised for growth and product development.
    Kirk Falconer
  • GaN Systems closes strategic investment led by BMW i Ventures July 18, 2017 10:36 pm
    GaN Systems Inc, an Ottawa-based provider of power transistors, has closed a strategic investment led by BMW i Ventures, the venture capital arm of German automobile manufacturer BMW. With the deal, the value of which was not disclosed, BMW i Ventures joins the company's existing investors, BDC Capital, Chrysalix Venture Capital, Cycle Capital Management, RockPort Capital and Tsing Capital. Founded in 2008, GaN makes Gallium Nitride power transistors for consumer, enterprise, industrial, solar-wind-smart-grid and transportation power conversion applications. It will use the funds raised to expand global sales and accelerate new product development.
    Kirk Falconer
  • Information Venture Partners leads Flybits’ $6.5 mln Series B July 18, 2017 9:59 pm
    Flybits Inc has secured $6.5 million in a Series B financing, bringing its total funding so far to $14 million. Canadian venture capital firm Information Venture Partners led the round and was joined by Portag3 Ventures, Robert Bosch Venture Capital and Trellis Capital. As a result, Information VP's Robert Antoniades and David Unsworth will join the board. Toronto-based Flybits is a context-as-a-service company that helps enterprises to leverage data intelligence with minimal complexity. Founded in 2013 by CEO Hossein Rahnama, it will use the funds raised for U.S. and European sales, reinforcing its global presence, and growing product and engineering teams.
    Kirk Falconer
  • Contextere wins $1.4 mln investment from Lockheed Martin July 18, 2017 5:50 pm
    Ottawa industrial Internet-of-Things software provider Contextere Corp has raised about $1.4 million (US$1.1 million) in funding from strategic investor Lockheed Martin (NYSE: LMT), a U.S. security and aerospace company. The investment's proceeds will allow Contextere to design and deliver an intelligent personal agent for aerospace and defense maintenance personnel. Founded in 2015, Contextere focuses on developing software solutions for the connected workplace. Led by CEO Gabe Batstone, it has previously raised seed financing from U.S. venture capital firms SOSV and Urban-X.
    Kirk Falconer
  • Medtech startup Highmark Interactive nets $2 mln in seed round July 18, 2017 4:36 pm
    Highmark Interactive has raised $2 million in a seed-stage financing. The round's investors were not disclosed; however, the Toronto-based company said they include capital-market investors, medical practitioners, and Olympic and professional athletes. Founded this year, Highmark develops digital media and therapeutics solutions to address concussions and other brain injuries and diseases. Led by CEO Andy Smith, it plans to use the funds raised to grow the development team and build distribution partnerships for its games. Earlier in 2017, Highmark acquired mobile games company XMG Studio Inc.
    Kirk Falconer
  • FreshBooks secures $57 mln in Georgian Partners-led Series B July 18, 2017 12:00 pm
    Toronto-based accounting software company FreshBooks has raised $57 million (US$43 million) in a Series B financing, bringing total funding to almost $100 million. Canadian growth equity firm Georgian Partners led the round and was joined by Accomplice and Oak Investment Partners. All three firms are repeat investors. With the financing, Georgian Managing Partner Simon Chong has joined the board. Launched in 2003, Freshbooks provides online billing and accounting tools to service-based small business owners and independent professionals. Led by CEO Mike McDerment, it will use the funds raised to fuel North American growth of its new platform and enhance its offering.
    Kirk Falconer
  • McRock leads $12 mln Series B round of Spain’s Worldsensing July 17, 2017 6:31 pm
    Canadian venture capital firm McRock Capital has led a $12.3 million (€8.3 million) Series B financing of Worldsensing, a Barcelona, Spain-based smart city and industrial Internet-of-Things solutions specialist. McRock invested alongside ETF Partners and existing investor Cisco Investments. As part of the financing, McRock Managing Partner Scott MacDonald has joined the board. Launched in 2008, Worldsensing has developed technology that provides connected operational intelligence to cities and industries. It currently works with more than 200 customers in over 50 countries. Toronto-based McRock is an investor in the industrial Internet.
    Kirk Falconer
  • Assent Compliance raises $40 mln in Series B funding: report July 14, 2017 3:05 pm
    Ottawa compliance software and data management solutions provider Assent Compliance Inc has secured $40 million in a Series B financing, according to a report by TechCrunch. The round was led by U.S. venture capital firm Greenspring Associates. It was joined by Volition Capital, OpenText Enterprise Application Fund, BDC Capital, National Research Council of Canada, Royal Bank of Canada and other investors that backed the company's $20 million Series A round last year. Founded in 2005, Assent provides data-focused modular solutions to enhance corporate social responsibility, product compliance and vendor management programs, along with compliance training and education. It plans to use the funds raised for expanding sales and marketing efforts, TechCrunch said. Assent is led by CEO Andrew Waitman, formerly a managing partner at Canadian venture capital firm Celtic House Venture Partners.
    Kirk Falconer
  • Klass Capital-backed Resolver acquires Global AlertLink July 13, 2017 8:19 pm
    Resolver Inc has acquired Global AlertLink, a Charleston, West Virginia-based software company focused on incident management, emergency notification and risk management. No financial terms were released. Resolver, a Toronto-based provider of risk and incident management software, said the deal expands its emergency notification, business continuity and disaster recovery capabilities. It was backed by a $20 million financing raised last month. The investors included the company's majority owner, Canadian private equity firm Klass Capital. In 2016, Resolver bought assets from New Zealand’s Wynyard Group Ltd.
    Kirk Falconer
  • Aesthetic tech provider Venus Concept wins $38 mln in funding July 13, 2017 7:56 pm
    Toronto aesthetic technology company Venus Concept Ltd has raised $38 million in an equity investment. The transaction was led by EW Healthcare Partners and joined by HealthQuest Capital and Madryn Asset Management. As a result, EW Healthcare and HealthQuest will each receive one seat on the board. Founded in 2009, Venus Concept develops and makes non-invasive devices for the global medical aesthetics market. Led by CEO Domenic Serafino, it will use the funds raised to grow its subscription-based business model and continue to develop its products. The company secured $10 million from Longitude Capital in 2014.
    Kirk Falconer
  • OMERS Ventures joins Rover.com’s $65 mln fundraising July 13, 2017 4:53 pm
    Rover.com, a Seattle, Washington network of pet sitters and dog walkers, has secured US$65 million in funding. The round was led by Spark Capital and joined by new and existing investors, including Canadian venture capital firm OMERS Ventures. Earlier this year, Rover.com acquired DogVacay, a U.S. online care service for pet owners that was previously backed by OMERS Ventures. Founded in 2011, Rover.com said it expects to see a 200 percent increase in net revenue in 2017. It will use the funds raised for global expansion, brand awareness and to launch new services.
    Kirk Falconer
  • XPV Water Partners acquires majority stake in Aquatic Informatics July 12, 2017 9:00 pm
    Aquatic Informatics Inc has amalgamated with WaterTrax and Linko Technology, both software providers to water and wastewater utilities and agencies. No financial terms were disclosed. Aquatic Informatics, a Vancouver-based company in the same vertical, said the merger creates a complete suite of software solutions for managing water resources, water and wastewater compliance. The deal was backed by XPV Water Partners, a Canadian water-focused private equity firm. XPV acquired the majority stake held in Aquatic Informatics by Canadian impact venture capital firm Renewal Funds, an investor since 2010. The company is led by President and CEO Ed Quilty.
    Kirk Falconer
  • Georgian Partners leads Flashpoint’s $28 mln Series C round July 12, 2017 5:00 pm
    New York business risk intelligence platform Flashpoint has raised US$28 million in a Series C financing. The round was led by Canadian growth equity firm Georgian Partners with participation from Greycroft Partners, TechOperators, Leaders Fund, Jump Capital, Bloomberg Beta and Cisco Investments. With the financing, Georgian Principal Steve Leightell will join the board. Founded in 2010, Flashpoint helps business units and functions across organizations make better decisions and mitigate risk. Led by CEO Josh Lefkowitz, it plans to use the funds raised to accelerate adoption of its product and recruit talent.
    Kirk Falconer
  • Voice-over platform Voices.com nets $18 mln from Morgan Stanley July 12, 2017 4:11 pm
    London, Ontario voice-over online marketplace Voices.com Inc has secured an $18 million investment from Morgan Stanley Expansion Capital, a growth equity firm affiliated with U.S. money manager Morgan Stanley Investment Management. The company said the institutional investment is the first since its founding in 2005. The funds raised will be used to scale global operations, expand client and subscriber product offerings and enhance the technology platform. Led by CEO David Ciccarelli, Voices.com connects buyers of audio and voice-over products and services with a selection of more than 200,000 voice actors. It has enabled over 250,000 transactions to date.
    Kirk Falconer
  • Mistral, TandemLaunch forge strategic partnership, invest in Stratuscent July 12, 2017 2:28 pm
    Two like-minded venture firms have formed a strategic partnership and marked the occasion with a first joint deal, backing the developer of an electronic nose sensor. TandemLaunch, a creator of synthetic startups in the consumer-electronics space, agreed to partner with Mistral Venture Partners, a seed investor in information-technology companies. The pact formalizes an already close bond between the firms, but will take the collaboration up a notch, including giving Mistral an early window on opportunities emerging from TandemLaunch’s company-building process.
    Kirk Falconer
  • Thomvest leads $28.5 mln Series C financing of Lastline July 11, 2017 9:48 pm
    U.S. cyber security company Lastline Inc has raised US$28.5 million in a Series C financing. The round was led by Thomvest Ventures, the Silicon Valley venture capital firm of Peter Thomson, a member of Canada's Thomson family. Existing investors, including Osage University Partners and Redpoint Ventures, also participated, as did several strategic investors. Lastline develops technology to help protect enterprises from data breaches caused by advanced malware threats. The Redwood, California-based company will use the funds raised to accelerate its next phase of growth.
    Kirk Falconer
  • Venture-backed Casalova buys My Property Managers July 11, 2017 7:22 pm
    Online real estate listings marketplace Casalova Inc has bought My Property Managers, a Toronto-based manager of residential properties with $35 million under management. No terms were disclosed for the acquisition, Casalova's first since its founding in 2014. Toronto-based Casalova said the deal creates a full-service real estate platform that allows users to buy, rent, sell and manage properties on a single platform. The company, which plans to grow its managed assets to $100 million this year, raised $2.5 million in April from Aviva Ventures, the venture capital arm of U.K. insurance company Aviva plc.
    Kirk Falconer
  • Chronometriq nets $3.5 mln in Series A round led by Bridgescale July 11, 2017 5:48 pm
    Montréal online healthcare appointment booking solution Chronometriq Inc has raised $3.5 million in a Series A financing. The round was led by U.S. venture capital firm Bridgescale Partners. Founded in 2012, Chronometriq has developed technology that helps manage queues at healthcare clinics and improve access for patients. It reports its products were used by more than 1.2 million users in Québec and Ontario last year. Led by President and CEO Yan Raymond-Lalande, the company plans to use the funds raised to expand its product line and reach in Canadian and U.S. healthcare clinic markets.
    Kirk Falconer
  • Inventys secures initial $10 mln in Husky Energy-led financing July 11, 2017 5:02 pm
    Canadian clean energy technology company Inventys has secured $10 million in the first tranche of a round B-11 financing. Strategic investor Husky Energy Inc led the round and was joined by the company's existing backers, Roda Group and Chrysalix Energy Venture Capital. Based in Burnaby, British Columbia, Inventys is the developer of the VeloxoTherm system, a carbon dioxide (CO2) capture process. The funds raised will support a CO2-capture pilot plant aimed at producing a low-cost supply solution for Husky's enhanced oil recovery program near Lloydminster, Saskatchewan. Founded in 2007, Inventys is led by President and CEO Claude Letourneau.
    Kirk Falconer
  • Motion detection startup Aerial Technologies raises $2.25 mln in VC July 11, 2017 3:48 pm
    Montréal motion detection startup Aerial Technologies Inc has raised $2.25 million in a convertible note financing. The round was led by Fonds Innovexport and entrepreneur and investor Jean-François Grenon. They were joined by strategic investors Kibo Ventures, Wayra and Quebecor Group, as well as angel investors affiliated with TandemLaunch. TandemLaunch incubated Aerial and also invested. Founded in 2015, Aerial is a software company that uses Wi-Fi signals and artificial intelligence to detect presence and motion. Led by CEO David Grant, it is focused on commercializing its technology with partners in the telecommunications industry.
    Kirk Falconer
  • Thomvest contributes to Prometic’s $61.7 mln fundraising July 6, 2017 6:20 pm
    Laval, Québec biopharmaceutical company Prometic Life Sciences Inc (TSX: PLI) has raised $61.7 million in gross proceeds from two equity offerings. In the first, a bought deal equity offering, Prometic secured $53.1 million. In the second, a private placement, it obtained $8.6 million from a vehicle affiliated with Thomvest Asset Management, the investment firm of Peter Thomson. The latter deal's proceeds were used to reduce amounts owed on a Thomvest loan. Prometic is focused on developing therapeutics from its plasma-derived and small-molecule platforms.
    Kirk Falconer
  • Canadian VC sustains robust pace as top Q2 deals raise $518 mln July 5, 2017 8:06 pm
    Canada’s top 10 venture-capital financings in the second quarter drew $518 million from investors, up 8 percent from the $480 million that went into the top 10 deals a year earlier. The number is based on PE Hub Canada’s list of the largest deals announced from April through June, supplemented by preliminary data from Thomson Reuters. It suggests Canadian VC investment activity this year is so far keeping pace with the robust trend lines of 2016. At the end of June, VC funds invested $1.75 billion in Canada, preliminary data show, not far behind the $1.78 billion invested in the first half of last year.
    Kirk Falconer
  • EnerTech-backed Power Survey acquires Power Standards Lab July 5, 2017 4:15 pm
    Power Survey and Equipment Ltd, a Montréal-based developer of power quality systems, has acquired Power Standards Lab Inc, a U.S. maker of electric power instruments for monitoring power quality and energy, and performing data analysis. No financial terms were disclosed. Power Survey said the deal will provide a unified set of tools for solving power quality disturbances for global commercial and industrial customers, utilities and government agencies. Led by President and CEO Mario Barbaresso, Power Survey last year raised $10 million in a financing led by EnerTech Capital. The company said it recently secured an additional US$24 million.
    Kirk Falconer
  • Mirexus Biotechnologies closes $12 mln financing led by GEL July 4, 2017 1:40 pm
    Mirexus Biotechnologies Inc, a Guelph, Ontario biomaterials provider, has raised $12 million in funding. The round was led by the Canadian affiliate of Barbados' Goddard Enterprises Ltd (GEL) and joined by angel members of GreenSky President’s Club, all existing backers of the company. Founded in 2008, Mirexus is commercializing a novel nanotechnology that can be used in markets ranging from cosmetics to nutraceuticals to biomedical applications in animal and human health. Led by President and CEO Phil Whiting, the company will use the funds raised to develop a factory and support operations over the next three years.
    Kirk Falconer
  • Bonfire raises $11 mln in Battery Ventures-led Series A round June 30, 2017 3:10 pm
    Waterloo sourcing enablement software provider Bonfire has raised $11 million in a Series A financing. The round was led by U.S. venture capital firm Battery Ventures with participation from existing investors, including Crosslink Capital and Spider Capital. With the round, Battery General Partner Michael Brown will join the board. Founded in 2012, Bonfire has created online technology that helps organizations automate procurement decisions, such as requests for proposals, bids, tenders and reverse auctions. Led by CEO Corry Flatt, the company will use the funds raised to expand sales and marketing teams and develop its product in such areas as predictive analytics.
    Kirk Falconer
  • iNovia Capital leads $1.2 mln seed funding of VendorHawk June 29, 2017 9:04 pm
    U.S. enterprise software vendor management platform VendorHawk Inc has raised a US$1.2 million seed-stage financing. The round was led by Canadian early-stage venture capital firm iNovia Capital. It was joined by Techstars Ventures, Social Starts, Telos Ventures, Curious Capital and Alliance of Angels, as well as several angel investors. Founded in 2015, VendorHawk's platform helps organizations manage and optimize their software-as-a-service (SaaS) products. The Seattle, Washington startup recently completed the Techstars Seattle 2017 class.
    Kirk Falconer
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