• Inventys raises initial $14.5 mln of planned Series C financing July 16, 2018 2:12 pm
    Vancouver-based clean technology company Inventys has secured an initial $14.5 million (US$11 million) for its Series C financing. The round was led by U.K.-based OGCI Climate Investments and joined by existing investors Roda Group and Chevron Technology Ventures. Inventys plans to raise additional funding for the Series C, increasing it to about $27.6 million (US$21 million). Inventys is developing a CO2 marketplace using next-generation carbon-capture technology at half the cost of conventional systems. The company will use the funds raised to back a CO₂ capture pilot plant demonstration program with Husky Energy Inc as well as its time-to-market strategy.
    Kirk Falconer
  • Madrona, BC Tech Fund back Eventbase’s $8.5 mln follow-on round July 12, 2018 6:45 pm
    Eventbase Technology Inc, a Vancouver-based event technology platform, has raised more than $8.5 million (US$6.5 million) in follow-on financing. The round, which brings the company's total funding to about $19 million (US$14.5 million), was backed by existing investor Madrona Venture Group and new investor BC Tech Fund, managed by Kensington Capital Partners. Founded in 2009 by CEO Jeff Sinclair and CPO Ben West, Eventbase provides mobile apps for conferences and other events organized by enterprises. It will use the funds raised to accelerate growth and launch its new event data product, Data Stream.
    Kirk Falconer
  • Scaling strategies drive $562 mln raised by Canada’s top VC deals in Q2 July 12, 2018 2:46 pm
    Canada’s venture capital market showed no signs of slowing in Q2. The market’s top 10 second-quarter VC financings raised $562 million from investors. That’s on par with the $561 million drawn by the top 10 deals a year earlier. The estimate is based on PE Hub Canada’s list of the largest rounds announced from April through June, supplemented by Thomson Reuters data. It suggests that VC investment activity this year is continuing to keep pace with the robust trend lines of 2016-2017. In fact, preliminary data point to growth in dollars flowing to technology sectors in the first half of 2018.
    Kirk Falconer
  • QuadReal, Brookfield join Convene’s $152 mln Series D round July 11, 2018 9:55 pm
    Convene, a U.S. technology-enabled meeting, event and workspace provider, has raised US$152 million in a Series D financing, bringing its total funding to US$260 million. ArrowMark Partners led the round. It was joined by new investors, including QuadReal Property Group, the real estate affiliate of British Columbia Investment Management Corp, as well as existing investors, including Brookfield Asset Management. Brookfield co-led New York-based Convene's US$68 million Series C financing, closed last year.
    Kirk Falconer
  • BDC’s WIT fund invests in four women-led tech companies July 11, 2018 11:00 am
    BDC Capital’s Women in Technology Venture Fund (WIT) has closed new investments in four women-led technology companies. The fund invested in AvenueHQ, a Vancouver real estate marketing software provider co-founded by COO Rebecca Troelstra; Lufa Farms, a Montréal developer of urban greenhouse facilities co-founded by Lauren Rathmell; Tealbook, a Toronto supplier intelligence provider to enterprises founded by CEO Stephany Lapierre, and; Unsplash, a Montréal free-for-use curated photo platform co-founded by Stephanie Liverani. The $200 million WIT fund has so far invested in 14 women-led companies.
    Kirk Falconer
  • VC-backed Metamaterial buys U.K. wireless medical device maker July 10, 2018 3:33 pm
    Metamaterial Technologies Inc (MTI), a Halifax-based smart materials and photonics company, has acquired Medical Wireless Sensing Ltd, a U.K. developer of wireless devices for medical diagnostics and monitoring. No financial terms were disclosed. MTI CEO George Palikaras said the deal provides his company with complementary advanced materials technology, intellectual property and new opportunities, including an ability to help design and develop low-cost, energy-saving medical equipment. Founded in 2011, MTI last year secured an $8.3 million Series A financing led by Radar Capital and joined by Innovacorp and others.
    Kirk Falconer
  • Venture-backed Interaxon acquires Meditation Studio July 10, 2018 2:42 pm
    Interaxon Inc, a Toronto-based developer of brainwave-sensing technology, has acquired Meditation Studio, a U.S. app that provides users with expert-guided meditations and related resources. No financial terms were released. Interaxon CEO Derek Luke said the deal expands his company's direct-to-consumer offerings and reinforces its contribution to brain health. It now offers a database of more than 400 guided meditations and courses. Interaxon, the maker of the Muse sensory headband, last year secured about $14.8 million in a Series B-1 financing led by Trend Forward Capital, Export Development Canada and OMERS Ventures.
    Kirk Falconer
  • Golf software platform Chronogolf lands $2 mln in third round July 10, 2018 2:00 pm
    Chronogolf, a Montréal-based provider of software and marketing solutions to golf courses, has closed its third financing round, raising $2 million. The investors were not disclosed. Chronogolf has previously been backed by Anges Québec, BDC Capital, iNovia Capital and Telegraph Hill Capital. Founded in 2012 by Co-CEOs Guillaume Jacquet and JD St-Martin, Chronogolf serves more than 500 golf-course operators in North America and Europe, providing online booking, electronic tee-sheets, member and tournament management, customer loyalty and point-of-sale solutions. It said it will continue expanding globally and invest in further technology enhancements.
    Kirk Falconer
  • Ample Organics wins funding from Osmington, Green Acre Capital July 9, 2018 4:44 pm
    Toronto-based cannabis software provider Ample Organics Inc has raised an undisclosed investment from David Thomson's Osmington Inc and Green Acre Capital, a Canadian cannabis-focused investment firm. Founded in 2014 and led by President and CEO John Prentice, Ample Organics provides software for cannabis seed-to-sale tracking and reporting. The company's other products include AmpleCare, a patient registration platform for licensed producers, and AmplePayments, a cannabis payments and credit solutions platform. The funds raised will be used to support Ample Organics' domestic and international growth strategy.
    Kirk Falconer
  • Accelerate Fund II invests in IIoT solutions provider mcThings July 9, 2018 1:17 pm
    Cochrane, Alberta-based industrial internet-of-things (IIoT) solutions provider mcThings has raised undisclosed financing from Accelerate Fund II. Founded in 2014 and led by President and CEO Tom Groenland, mcThings helps businesses to affordably create and deploy IIoT solutions by combining low-cost, battery-powered devices, field-programmable sensors, network gateways, and a cloud management and security platform. It will use the funds raised to continue growing and enhance sales capacity. Accelerate Fund II, an early-stage angel co-investment fund, is managed by Canadian private equity firm Yaletown Partners.
    Kirk Falconer
  • Mobile fitness app Fitplan Technologies raises $6.2 mln in VC July 5, 2018 9:50 pm
    Fitplan Technologies, a Vancouver and Los Angeles mobile fitness platform, has raised about $6.2 million (US$4.7 million) in financing. The round was backed by Lerer Hippeau, Bullpen Capital, Advanceit and Imaginary Ventures. Founded in 2016 by CEO Landon Hamilton and President Cam Speck, Fitplan connects users with curated fitness plans, making it efficient and affordable to find the right routine, track progress and achieve results. It currently serves 167,000 users. Fitplan will use the funds raised to develop the platform, grow its user base, expand its team and bring on more personal trainers.
    Kirk Falconer
  • EDC unveils cleantech co-investment scheme, funds Pyrowave July 5, 2018 2:30 pm
    Export Development Canada (EDC) has launched a co-investment initiative to support Canadian growth-stage clean technology companies. The Cleantech Co-Investment Program (CCIP) will partner with private investors to back companies with about $1 million in revenue and the potential to continue growing and access the global market. CCIP's debut deal was with Pyrowave, a Toronto and Montréal developer of a recycling technology that converts waste plastics into high-value end products. CCIP, Ecofuel, an affiliate of Cycle Capital Management, and a European investor provided $1 million in financing.
    Kirk Falconer
  • MetaOptima closes $8.5 mln round with Skip Capital, AirTree July 4, 2018 6:46 pm
    MetaOptima Technology, a Vancouver digital health technology company, last month raised about $8.5 million in funding. The round's investors were Skip Capital and AirTree Ventures. Founded in 2012 by CEO Maryam Sadeghi and CTO Majid Razmara, MetaOptima develops intelligent dermoscopy tools for smart skin imaging, analytics and management, and skin cancer early detection. It will use the funds raised to advance its technology, including DermEngine, a cloud dermoscopy and skin care platform that serves patients, physicians and service providers.
    Kirk Falconer
  • National Bank, Luge Capital join Flinks’ $1.75 mln seed round July 4, 2018 4:30 am
    Montréal-based financial technology startup Flinks has raised $1.75 million in a seed-stage financing. National Bank of Canada and Luge Capital invested in the round as did Innostart Capital, Panache Ventures, iNovia Capital and Conconi Growth Partners. Founded in 2017 by CEO Yves-Gabriel Leboeuf, CTO Julien Dubé-Cousineau and COO Frédérick Lavoie, Flinks helps consumers safely share their financial data with banking and non-banking digital services. It will use the funds raised for growth and to market its risk assessment solution. Flinks is the first deal of Luge, which last month raised an initial $75 million for its inaugural fund.
    Kirk Falconer
  • Element AI looks to raise $250 mln Series B: BNN Bloomberg July 3, 2018 5:32 pm
    Montréal-based artificial-intelligence solutions company Element AI is looking to raise $250 million in a Series B financing, according to a report by BNN Bloomberg. Sources told BNN Bloomberg the round would value Element AI at $1 billion. Founded in 2016, Element AI last year secured more than $137 million in a Series A led by DCVC and joined by Real Ventures, BDC Capital, Fidelity Investments Canada, Hanwha Investment, Intel Capital, Microsoft Ventures, National Bank of Canada, NVIDIA, Tencent and other investors.
    Kirk Falconer
  • Worksite software provider Focus FS raises $1.4 mln, BDC invests June 29, 2018 3:43 pm
    Focus FS, a software-as-a-service platform for safer, smarter worksites, has raised $1.4 million in financing. The round was backed by an $800,000 quasi-equity investment made by BDC Capital's Growth and Transition Capital, with additional funding coming from private and strategic sources. Founded in 2012, St. John's, Newfoundland and Labrador-based Focus FS has developed a cloud-based safety management suite to help industrial worksites gain efficiencies and lessen risk to allow projects to run smoothly. Led by CEO Jeff Brown, the company will use the funds raised to further invest in sales and marketing in key North American and global markets.
    Kirk Falconer
  • Bioinformatics software platform Ziliomics seeded by FACIT June 28, 2018 4:35 pm
    Ziliomics Inc, a Toronto bioinformatics software startup, has raised undisclosed seed-stage financing. The Prospects Oncology Fund of Fight Against Cancer Innovation Trust (FACIT) was the investor. Created by FACIT,  Ziliomics is developing web-based, modular software solutions to help physicians make treatment decisions for patients living with cancer. The proceeds of the seed round will advance the development of Heliotrope, the company's lead product, and position Ziliomics for partnerships and additional funding. FACIT, established by the Ontario Institute for Cancer Research, launched the Prospects Oncology Fund last year.
    Kirk Falconer
  • Edtech startup ApplyBoard nets $17 mln in Artiman-led Series A June 28, 2018 3:43 pm
    Waterloo-based education technology startup ApplyBoard has secured over $17 million (US$13 million) in a Series A financing. The round was led by U.S. venture capital firm Artiman Ventures and joined by existing investors, including 500 Startups, Candou Ventures and Think+. ApplyBoard, founded in 2015 by CEO Martin Basiri and CMO Meti Basiri, has created an artificial intelligence-enabled marketplace to help international students apply for study at post-secondary institutions worldwide. It has so far partnered with more than 750 North American educational institutions. ApplyBoard will use the funds raised for growth and to further develop its platform.
    Kirk Falconer
  • Robert Bosch teams with Mojio to connect vehicles wirelessly: Reuters June 27, 2018 4:34 pm
    German auto supplier Robert Bosch GmbH is teaming with Canadian startup Mojio to get more vehicles connected wirelessly to a range of digital services, from insurance companies to emergency responders, Reuters reported. Bosch and Mojio aim to connect more vehicles to the internet and gather data to support services for consumers and manufacturers. The initial focus is on vehicle communication, diagnostics and crash detection and notification. Bosch is investing in Vancouver's Mojio as part of the startup’s Series B financing, which has so far raised more than $30 million.
    Reuters News
  • Atomic Reach closes $3.4 mln bridge round, Fidelity among backers June 26, 2018 4:27 pm
    Atomic Reach, an artificial intelligence-based content optimization platform, has closed a $3.4 million bridge financing. The company's existing backers, angel investors and Fidelity Investments Canada ULC joined the round. Founded in 2012 by CEO Bradley Silver, Atomic Reach gives marketers and advertisers insights and tools to improve the performance of their content marketing, communications and digital programs. The Toronto-based company, which has previously raising funding from Genwealth Ventures and MaRS Investment Accelerator Fund, will use the bridge round's proceeds to accelerate growth, innovate, and to expand strategic partnerships and market reach.
    Kirk Falconer
  • CoLab Software secures $600k in pre-seed financing June 25, 2018 10:11 pm
    CoLab Software, a St. John’s, Newfoundland and Labrador cloud-based issue and design management platform, has raised $600,000 in a pre-seed financing. Canadian investors, including Pelorus Venture Capital, Killick Capital and Panache Ventures, backed the round. Founded last year by CEO Adam Keating and CTO Jeremy Andrews, CoLab's technology allows engineering teams to view 3D designs, gather feedback, track issues and manage projects more efficiently in a shared cloud environment. The company will use the funds raised to grow its team in advance of the launch of a full-scale enterprise solution, scheduled for Q1 2019.
    Kirk Falconer
  • Inventiv to fund $132 mln in Pond Technologies’ projects June 25, 2018 5:20 pm
    U.S. private equity firm Inventiv Capital Management has agreed to provide about $132 million (US$100 million) to support the projects of Pond Technologies Inc (TSX.V: POND), the Toronto-based developer of an algae-based emissions abatement solution. The deal will see development of a portfolio of projects implementing the company's technology, to be co-located next to industrial emitters of greenhouse gases, such as power plants and refineries. Founded in 2008 and led by CEO Steve Martin, Pond has previously raised financing from MaRS Investment Accelerator Fund, Pyfera Growth Capital and other investors.
    Kirk Falconer
  • Globalive Technology acquires call option to buy control of Flexiti June 21, 2018 4:00 pm
    Globalive Technology has acquired a call option to buy Globalive Capital (GC)'s control position in Flexiti Financial, a Toronto-based point-of-sale financing and payment technology company. The deal is linked to a joint venture between Globalive Technology and Flexiti, announced this week, to build and commercialize software utilizing artificial intelligence and blockchain technology for the consumer loans market. Earlier this month, GC acquired control of Flexiti as a result of a $50 million investment backing the company's buy of TD Financing Services' private label credit card portfolio. GC also controls Globalive Technology.
    Kirk Falconer
  • OMERS Ventures, JPMorgan lead TouchBistro’s $72 mln Series D June 21, 2018 12:45 pm
    Toronto-based restaurant point-of-sale software provider TouchBistro has closed a $72 million Series D financing. The round, which brings the company's total funding to date to $117 million, was led by OMERS Ventures and JPMorgan Chase. They were joined by Napier Park Financial Partners, Recruit Holdings Co Ltd, BDC Capital's IT Venture Fund and Relay Ventures, all of which backed last year's $16.3 million Series C financing. TouchBistro, founded in 2010 by CEO Alex Barrotti and COO Geordie Konrad, processes over US$6 billion in global restaurant transactions annually. The funds raised will be used for developing a new operating system and payment solutions, market growth, and new hires.
    Kirk Falconer
  • EDC puts $7 mln to work in smart farming company Hortau June 20, 2018 9:58 pm
    Export Development Canada (EDC) has invested $7 million in Hortau, a Lévis, Québec-based precision agriculture business. Founded in 2002 by CEO Jocelyn Boudreau and Jean Caron, Hortau's technology allows growers to detect crop stress, optimize growth, and reduce water use, energy and environmental impact. It said the latest funds raised will help the company reach more customers. Hortau, which raised $5.9 million from Sustainable Development Technology Canada in January, is also backed by Advantage Capital Partners, Avrio Capital, BDC Capital, Capital régional et coopératif Desjardins and Telesystem.
    Kirk Falconer
  • Venture-backed AlayaCare acquires Canesto Systems June 20, 2018 9:13 pm
    AlayaCare has acquired Canesto Systems Inc, an Ajax, Ontario-based contact and resource management software provider for home and community care organizations. No financial terms were released. AlayaCare, a Toronto and Montréal cloud-based home healthcare software company, said the deal will help it serve Ontario home and community care agencies and expand insight capabilities through increased access to health data. Founded in 2014, AlayaCare last year closed a $2.4 million financing with Fonds Innovexport. It is also backed by Desjardins-Innovatech, Klass Capital, Maple Leaf Angels and Recap Health Ventures.
    Kirk Falconer
  • Invoice factoring company FundThrough nabs $34 mln in debt, equity June 20, 2018 2:55 pm
    Toronto-based financial technology platform FundThrough has raised $9 million in equity and a $25 million credit facility. The Series A equity round was led by David Mirvish and ScaleUP Ventures. ScaleUP also led the company's $24.3 million round in 2016. The credit facility was provided by Canadian merchant banking firm Intercap Inc. Founded in 2014, FundThrough offers small businesses flexible, on-demand working capital using their outstanding invoices to overcome cash flow gaps and accelerate growth. Led by CEO Steven Uster, the company will use the funds raised for technology development, building integrations with platform partners, and continued U.S. market expansion.
    Kirk Falconer
  • Local intelligence platform POTLOC closes $2.5 mln financing June 19, 2018 1:00 pm
    POTLOC, a Montréal provider of location-based consumer intelligence, has raised $2.5 million in its latest financing. The round was led by Ecofuel Fund, an affiliate of Cycle Capital Management. It was joined by new backers Desjardins Capital and CapHorn Invest, a French venture capital firm, as well as existing backers BDC Capital and Robert Dutton, the former CEO of Rona Inc. POTLOC captures consumer insights with geotargeted campaigns on social networks. Founded in 2014 by Co-CEOs Rodolphe Barrerre and Louis Delaoustre and CTO Jérémy Lagrue, the startup will use the funds raised to expand its team and further develop its technology.
    Kirk Falconer
  • Elastic Path raises $43 mln in Sageview-led Series B financing June 19, 2018 11:00 am
    Vancouver-based enterprise commerce company Elastic Path has secured $43 million in a Series B financing, increasing its total funding to more than $63 million. The round was led by U.S. growth equity firm Sageview Capital and joined by existing Canadian investors Yaletown Partners and BDC Capital's IT Venture Fund. Founded in 2000, Elastic Path provides API-oriented commerce solutions for enterprises. It has so far helped brands generate more than $60 billion in over 170 countries. CEO Harry Chemko said the funds raised will be used for R&D addressing the B2B market and other innovations. Elastic Path is also hiring sales personnel and opening a Toronto office to recruit developers.
    Kirk Falconer
  • Precision NanoSystems secures $7.8 mln in Series B round June 18, 2018 7:08 pm
    Precision NanoSystems (PNI), a Vancouver-based developer of nanoparticles for use as medicines and in medical research, earlier this month raised about $7.8 million (US$6 million) in a Series B financing. The round was backed by 5AM Ventures, Telegraph Hill Partners and Rising Tide Fund, all of which backed the company's $13.4 million Series A financing in 2015. Founded in 2010 by CEO James Taylor and COO Euan Ramsay, PNI's NanoAssemblr platform enables the rapid, reproducible and scalable manufacture of nanoparticle formulations for the delivery of therapeutic and diagnostic agents to cells and tissues in the body. It will use the funds raised for new product development and global growth.
    Kirk Falconer
  • Globalive Technology, Flexiti form AI and blockchain fintech JV June 18, 2018 5:13 pm
    Globalive Technology and Flexiti Financial have formed a joint venture (JV) to build and commercialize software utilizing artificial intelligence and blockchain technology. The JV will build an AI platform that analyzes consumer purchase and credit history, as well as blockchain infrastructure for loan funding, merchant supply chain management, and loyalty programs. Flexiti, a Toronto-based point-of-sale financing and payment technology company, this month bought TD Financing Services' private label credit card portfolio with the help of a $50 million investment from Globalive Capital. Globalive Technology went public in May.
    Kirk Falconer
  • TouchBistro close to wrapping up $70 mln round: report June 14, 2018 10:03 pm
    TouchBistro, a Toronto-based restaurant point-of-sale software provider, is nearing the close of new financing of more than $70 million, according to a report by the Globe and Mail. The round is being led by OMERS Ventures and U.S. financial institution JP Morgan Chase & Co, the report said. Napier Park Financial Partners, Recruit Holdings Co Ltd, Relay Ventures and BDC Capital, all existing investors, are also participating. TouchBistro, founded in 2010 by CEO Alex Barrotti and COO Geordie Konrad, has provided its technology to more than 12,000 restaurants in over 100 countries. Its last financing, a $16.3 million Series C round, closed last year.
    Kirk Falconer
  • Energy storage startup Stash Energy wins $500k from NBIF, ICP June 14, 2018 7:29 pm
    Fredericton-based energy storage startup Stash Energy has raised $500,000 in financing. Existing backer New Brunswick Innovation Foundation (NBIF) invested $250,000 in the round, with Island Capital Partners (ICP) accounting for the rest. Founded in 2016, Stash Energy’s storage system works with conventional residential heat pumps to thermally store energy for later use, which prevents usage during peak times. The proceeds of the round will used for the company's M1 comfort system, the second generation of an initial system, which is scheduled to launch in early 2019.
    Kirk Falconer
  • Sports intelligence platform StellarAlgo raises $1 mln in VC June 14, 2018 6:54 pm
    StellarAlgo, a Calgary-based sports and entertainment data analytics company, has raised $1 million in financing. The investors included Accelerate Fund II, an angel co-investment fund managed by Yaletown Partners, and several angels, including James Lochrie. Founded in 2016 by CEO Vincent Ircandia, StellarAlgo's platform helps sports franchises to organize, analyze and leverage the business and fan data they collect. It offers the same capabilities to live audience and entertainment groups. StellarAlgo will use the funds raised to scale its sales and growth strategy, expand its customer base, and broaden its analytics offerings.
    Kirk Falconer
  • Cleantech company Polystyvert nets $11 mln more in VC funding June 14, 2018 2:27 pm
    Polystyvert, a Montréal-based clean technology startup, has raised $11 million in follow-on funding. The round was backed by new investors Quadriam Investments, Energy Foundry and Transition énergétique Québec, as well as existing investors Anges Québec, Anges Québec Capital Fund and Cycle Capital Management. The company also secured an investment from Sustainable Development Technology Canada. Founded in 2011, Polystyvert has developed a low-carbon-footprint process to recycle polystyrene based on a dissolution technology. The latest round follows a $4.9 million financing closed in 2016.
    Iris Dorbian
  • Coffee pod recycler GoJava raises $500k in Crux-led round June 13, 2018 7:13 pm
    GoJava, a Toronto-based provider of sustainable coffee services, has secured $500,000 in a growth financing. The round was led by Canadian real estate and venture capital firm Crux Capital Corp. Launched in 2015, GoJava provides a recycling solution for used coffee pods and other waste as well as related services to workplaces. It reports diverting more than one million coffee pods and 80,000 pounds of waste from landfill. The company, led by President Eugene Ace, one of GoJava's co-founders, is currently focused on scaling its presence in Ontario before further expansion into the rest of Canada.
    Kirk Falconer
  • SoundBite Medical Solutions tops up Series A round to $25 mln June 13, 2018 4:45 pm
    Montréal medical device company SoundBite Medical Solutions Inc has closed a second tranche of its Series A financing. SoundBite raised $5.2 million more from its investors, bringing the round's total to $25 million. The Series A's first tranche, announced in April, was led by Fidelity Investments Canada ULC. Founded in 2015 by Steve Arless, Martin Brouillette, Louis-Philippe Riel and Steven Dion, SoundBite is a developer of shock wave technology to address needs in interventional vascular treatment. It will use the funds raised to further advance clinical and product development programs over the next 30 months.
    Kirk Falconer
  • Breather secures $60 mln more in Caisse, Temasek-led round June 12, 2018 2:40 pm
    Montréal-based flexible workspace provider Breather has raised $60 million in a follow-on-financing, bringing total funding to about $150 million. The latest round was led by Caisse de dépôt et placement du Québec and Singapore's Temasek. Other investors included Ascendas-Singbridge. Founded in 2013 by CEO Julien Smith and CCO Caterina Rizzi, Breather has scaled its presence in the global workspace rentals sector to 10 cities, including New York City, San Francisco and London. It now operates close to 500 spaces. Breather's other investors include Menlo Ventures, Valar Ventures, RRE Ventures, Slow Ventures and Real Ventures, all of which backed its Series C round in 2016.
    Kirk Falconer
  • VC-backed CounterTack buys Canadian cyber tech company June 11, 2018 5:54 pm
    U.S. predictive endpoint security platform CounterTack has acquired GoSecure Inc, a Montréal-based cybersecurity managed detection and response provider. No financial terms were disclosed. Founded in 2002 and led by President and Chairman Pascal Fortin, GoSecure has been a CounterTack channel partner. Its acquisition will enhance the Waltham, Massachusetts-based company's enterprise service offerings. Founded in 2011, CounterTack has raised US$92.4 million in venture capital, according to Crunchbase, including last year's Series D financing led by Singtel Innov8 and SAP National Security Services.
    Kirk Falconer
  • Sales accelerator Statflo lands $12 mln in Series A funding June 11, 2018 1:39 pm
    Statflo, a Toronto-based sales acceleration platform, has raised $12 million in a Series A financing, bringing total funding to $16.5 million. Elsewhere Partners led the round and was joined by existing investors Round13 Capital and Globalive Capital, and new investors Generation Ventures, Johannes Gnauck and Marco Schnabl. Elsewhere's Sam Kentor and Generation's Laura Lenz have joined the board as a result. Founded in 2012, Statflo's compliant one-to-one outreach tool allows wireless and technology retail stores, along with their indirect channels, to proactively drive more store traffic. It will use the funds raised to develop IP and pursue growth.
    Kirk Falconer
  • CPPIB to invest $600 mln in Ant Financial’s unit: Reuters June 8, 2018 8:19 pm
    Canada Pension Plan Investment Board will invest US$600 million in a unit of Jack Ma’s Ant Financial Services Group, operator of China’s biggest online payment platform, Reuters reported. CPPIB’s investment is part of Ant’s US$14 billion fundraising announced on Friday. Ant Financial, spun off from Alibaba Group Holding Ltd before the e-commerce company’s 2014 listing, has played a major role in shaping China’s financial technology landscape.
    Reuters News
  • Omnirobotic seeded with $1 mln in Element AI-led round June 8, 2018 8:01 pm
    Laval, Québec-based robotics automation startup Omnirobotic has secured $1 million in a seed-stage financing. The round was led by Canadian artificial intelligence solutions company Element AI and joined by Real Ventures, Alexandre Taillefer and Genik. Founded in 2016 by CEO Francois Simard and CTO Laurier Roy, Omnirobotic helps mass customization manufacturers robotize their operations and address personnel shortages. It said the proceeds of the seed round will allow the company to demonstrate its first product, OmniPainter, an autonomous  painting robot targeted to the painting industry, and develop additional industrial applications.
    Kirk Falconer
  • Globalive backs Flexiti’s buy of $250 mln TD credit card portfolio June 7, 2018 10:18 pm
    Flexiti Financial, a Toronto-based point-of-sale financing and payment technology company, has acquired the Canadian private label credit card portfolio of TD Financing Services, an affiliate of TD Bank Financial Group. The portfolio is valued at about $250 million. The deal adds a million new credit card customers and 900 new merchant locations to Flexiti's client base. Globalive Capital, the investment firm of Anthony Lacavera, invested $50 million as part of the acquisition's financing and acquired control of the company as a result. Flexiti, founded in 2013 by CEO Peter Kalen, also raised $350 million in credit facilities led by Credit Suisse AG to support the buy and future growth.
    Kirk Falconer
  • Online financial planner Planswell secures $7 mln more June 7, 2018 3:16 pm
    Toronto-based online financial planning company Planswell has raised an additional $7 million in financing, bringing its total funding so far to $13.8 million. The investors were not identified. Planswell launched nationally in January, closing a seed round backed by former senior financial executives and others. The proceeds of the latest deal will be used for technology development and expanding marketing efforts. Founded in 2015 and led by CEO Eric Arnold, Planswell helps build financial plans for users located across Canada. The company reports building more than 50,000 financial plans since its launch.
    Kirk Falconer
  • Squiggle Park closes seed round, increases funding to $1 mln June 6, 2018 6:13 pm
    Squiggle Park, a Halifax-based adaptive web-based learning app, has closed a seed-stage financing that brings its total funding so far to more than $1 million. The company's investors include Heather Reisman, CEO of Indigo Books and Music, and John Montalbano, head of Royal Bank of Canada’s global asset management group. Founded in 2015 by CEO Leah Skerry and CMO Julia Rivard Dexter, Squiggle Park's app provides bite-sized games designed by teachers, researchers and gamers to help children develop foundational reading skills. The funds raised will be used for product development and continued global growth.
    Kirk Falconer
  • Whitecap leads Series A2 financing of IRYStec Software June 6, 2018 5:25 pm
    IRYStec Software Inc, a Montréal-based perceptual display processing technology company, has closed a Series A2 financing. The undisclosed round was led by Canadian venture capital firm Whitecap Venture Partners. It was joined by BDC Capital, Skunkworks and angels investors, including Jean-François Grenon and Purple Angels, several of which invested in the company's Series A in 2016. IRYStec, which launched in 2015, helps consumer device makers and automotive original equipment manufacturers solve challenging display issues. Led by CEO Simon Morris, the company will use the funds raised to scale its sales and engineering teams.
    Kirk Falconer
  • Food ordering app Ritual nets $90 mln in Georgian-led Series C June 6, 2018 3:29 pm
    Toronto-based food ordering app Ritual has secured more than $90 million (US$70 million) in a Series C financing. The round was led by Canadian growth equity firm Georgian Partners and joined by Greylock Partners, Insight Ventures and Mistral Venture Partners, all of which backed the company's Series B last year. Founded in 2014, Ritual connects restaurants with customers through a tool to place, pay for and pick-up lunch orders for themselves and workplace teams. The company said in the past year it has increased workplace teams to over 44,500, seen 2 x growth in restaurant partners, and expanded into four new cities. Ritual is led by Co-founder and CEO Raymond Reddy.
    Kirk Falconer
  • Freshly funded SafeToNet acquires online safety app VISR June 5, 2018 2:22 pm
    U.K. cyber safety company SafeToNet Ltd has acquired VISR Inc, a Toronto-based specialist in using artificial intelligence to detect the emotional well-being of children online. No financial terms were released. SafeToNet, which also announced raising a US$13 million financing led by West Hill Capital, said the buy will broaden the company's technologies and intellectual property and give it a foothold in North America. VISR, founded in 2014 by CEO Robert Reichmann, secured funding from Horizons Ventures, Ontario Centres of Excellence and Ryerson Futures.
    Kirk Falconer
  • Vanedge Capital leads $2 mln seed financing of SensorUp June 5, 2018 1:10 pm
    SensorUp, a Calgary Internet of Things (IoT) for geolocation platform, has raised $2 million in a seed-stage financing. The round was led by Vanedge Capital, a Canadian venture capital firm. Founded in 2011 by CEO Steve Liang, SensorUp provides data, analytics and artificial-intelligence solutions that enable organizations to aggregate IoT data from multiple systems and transform them into actionable insights. The company plans to use the funds raised for a go-to-market campaign and to create new solutions for smart cities, first responders and field-service management. Last year, Vanedge closed its second fund, Vanedge Capital II, at $161 million.
    Kirk Falconer
  • Real estate tech company NestReady grows VC funding to $5.7 mln June 4, 2018 8:06 pm
    Montréal-based real estate technology company NestReady has raised a new, undisclosed financing that brings its total funding so far to $5.7 million. Investors in the latest round include National Bank of Canada and Peter Aceto, former CEO of Tangerine (ING Direct). The company has previously been backed by TechStars, 500 Startups, BDC Capital, 7Seas Partners, Stage1Ventures, NXT Ventures and angel investors. Founded in 2012, NestReady's platform streamlines the home-buying process to include everything from home search and property visits to selecting agents and financing. The funds raised will be used to advance artificial intelligence capabilities.
    Kirk Falconer
  • BDC Capital finances PetalMD’s acquisition of Xacte June 1, 2018 4:34 pm
    PetalMD Solutions has acquired Xacte, a Québec City-based company specializing in web solutions for medical billing. No financial terms were disclosed. The deal was backed by the Growth and Transition Capital division of BDC Capital as part of its investment in PetalMD's Canadian and European growth strategy. PetalMD, a Québec City-based provider of web and mobile productivity tools to healthcare professionals, said the Xacte buy will add more value to its products. Founded in 2009 by CEO Patrice Gilbert, the company currently serves more than 37,000 physician users in over 150 healthcare institutions and 1,400 hospital departments.
    Kirk Falconer
  • SDTC invests $16.3 mln in VC-backed D-Wave, MineSense, Ionomr May 31, 2018 9:32 pm
    Sustainable Development Technology Canada (SDTC) has invested $26.3 million in four Western Canadian companies, three of them venture capital-backed. The latter are D-Wave Systems Inc, a Vancouver quantum computing systems developer, which received $10 million; MineSense Technologies Ltd, a Vancouver sensor-based ore data and sorting solutions provider, which received $4 million, and; Ionomr Innovations Inc, a Vancouver maker of advanced ion-exchange membranes, which received $2.3 million. Calgary's MEG Energy Corp also took $10 million to improve oil sands bitumen recovery while reducing emissions and water consumption.
    Kirk Falconer
  • First Capital Realty leads top up of Honest Buildings’ Series B May 31, 2018 7:02 pm
    Honest Buildings, a New York-based project management and procurement platform for real estate owners, has increased its Series B financing to US$30 million. The additional investment of US$5 million was led by First Capital Realty Inc, a Canadian owner, developer and manager of grocery-anchored retail urban properties. It joins the company's existing investors. They include Brookfield Property Partners, GreenSoil Building Innovation Fund, Oxford Properties Group, the real estate investment arm of OMERS, and QuadReal Property Group, owned by British Columbia Investment Management Corp.
    Kirk Falconer
  • Smart home platform Ecobee tops up Series C to $127 mln May 31, 2018 2:26 pm
    Ecobee Inc has secured an additional $47 million investment led by Caisse de dépôt et placement du Québec, AGL Energy Ltd and Business Development Bank of Canada (BDC). The deal adds to the $80 million Series C financing raised by the company earlier this year, bringing the total to over $127 million. As a result, Ecobee, a Toronto-based developer of a smart Wi-Fi thermostat, has raised total funding of more than $200 million. President and CEO Stuart Lombard said the funds raised will accelerate the company's growth, in part through additions to management, including Jackie Poriadjian-Asch as chief marketing and revenue officer, Scott Cleaver as COO and David Brennan as CFO.
    Kirk Falconer
  • Venture-backed Katerra buys Michael Green Architecture May 30, 2018 10:04 pm
    Construction technology provider Katerra has acquired Michael Green Architecture Inc (MGA), a Vancouver-based specialist in architecture designs, including mass timber construction projects. No financial terms were disclosed. Menlo Park-based Katerra said the deal will facilitate "more sustainable, cost effective and elegant architecture options" to North American and global markets. MGA will continue to be run by existing management, led by President and CEO Michael Green, who founded the company in 2012. Venture-backed Katerra earlier this year announced the close of a US$865 million Series D financing led by Japan's SoftBank Vision Fund.
    Kirk Falconer
  • AvenueHQ secures $4.5 mln in VFF-led seed financing May 30, 2018 8:45 pm
    AvenueHQ, a Vancouver-based real estate marketing software platform, has raised $4.5 million in a seed-stage financing, according to a report by Techvibes. The round was led by VFF with participation from BDC Capital's Women in Technology Fund and Pallasite Ventures, the report said. It will help AvenueHQ continue its growth in the United States. Formerly known as Realty Butler Technology, AvenueHQ was founded in 2014 by CEO Chris Troelstra and COO Rebecca Troelstra to build and maintain websites and manage digital marketing for real estate professionals. The company's other backers include Conconi Growth Partners and TIMIA Capital Corp.
    Kirk Falconer
  • PSP Investments co-leads Tradeshift’s $250 mln Series E May 30, 2018 3:08 pm
    Tradeshift, a San Francisco-based business commerce platform that connects buyers and sellers, has raised US$250 million in a Series E financing. The round was led by Goldman Sachs and Canadian pension fund manager Public Sector Pension Investment Board, and joined by the company's existing backers. Tradeshift said the deal brings its valuation to US$1.1 billion. Founded in 2009, Tradeshift's technology enables supply chain payments and marketplaces for more than 1.5 million businesses worldwide. It will use the funds raised for strategic initiatives, including continued growth in Europe and Asia and investments in emerging technologies.
    Kirk Falconer
  • Pender’s tech fund, EDC invest $6.3 mln in Clarius Mobile Health May 28, 2018 5:45 pm
    Clarius Mobile Health Inc, a Burnaby, British Columbia-based developer of ultrasound scanners, has raised $6.3 million in financing. PenderFund Capital Management's mid-stage technology fund led the round and was joined by Export Development Canada (EDC) and others. As a result, Pender's Maria Pacella has joined the board. Launched in 2014, Clarius makes handheld scanners that can connect to devices for portable, wireless ultrasound imaging. It will use the funds raised to support growth, sales and marketing, and product development. As reported by Buyouts, Clarius is the debut deal of Pender Technology Inflection Fund I, launched earlier this year.
    Kirk Falconer
  • Fresche Solutions raises $77 mln from NBC-led syndicate May 24, 2018 9:22 pm
    Montréal-based information technology modernization specialist Fresche Solutions has raised about $77 million (US$60 million) in fresh funding. National Bank of Canada (NBC) was the lead arranger, sole book runner and administrative agent for the deal, backed by a syndicate of NBC, Investissement Québec and TD Bank. The proceeds will be used for the company's operations, organic growth and acquisition strategy. Fresche helps organizations modernize and extend the life of applications and databases that run on IBM Power Systems. Led by President and CEO Andy Kulakowski, the company has previously raised funding from Fonds de solidarité FTQ and Fondaction CSN.
    Kirk Falconer
  • Crown Capital loans $10 mln to venture-backed WireIE May 24, 2018 2:57 pm
    Canadian specialty finance firm Crown Capital Partners has provided a $10 million loan to WireIE (Canada) Inc, a Richmond, Ontario-based network operator that specializes in deploying and managing carrier-grade data networks in rural and remote areas. Founded in 2007, WireIE builds, owns and operates data networks for customers in the telecom carrier, oil and gas, utility and government sectors in Canada and around the globe. Rob Barlow, the company's president and CEO, said the proceeds of Crown's 10-year loan will help accelerate growth. WireIE is a portfolio investment of Covington Funds, a Canadian venture capital firm.
    Kirk Falconer
  • SME banking platform NorthOne secures $2 mln in seed round May 23, 2018 7:14 pm
    Toronto-based financial technology company NorthOne has raised $2 million in a seed-stage financing. The round was backed by Peter Graham, Tom Williams and Canadian venture capital firm Ferst Capital Partners, an existing investor. Founded in 2016 by CEO Eytan Bensoussan and COO Justin Adler, NorthOne is developing a mobile, API-enabled banking platform to provide small and medium-sized enterprises, startups and freelancers in Canada with financial management tools. More than 3,000 businesses have signed up for the platform ahead of its launch. NorthOne will use the funds raised to grow its team and prepare for the launch, slated for late 2018.
    Kirk Falconer
  • Avrij Analytics raises $1.2 mln from NBIF, TVC, others investors May 23, 2018 3:48 pm
    Avrij Analytics, a Fredericton-based sports analytics technology startup, has secured $1.2 million in financing. The round was led by New Brunswick Innovation Foundation (NBIF), which invested $500,000, and joined by Technology Ventures Corp (TVC) and several other private and public investors. Founded in 2016, Avrij provides sports organizations with a software platform to track, monitor and predict an athlete’s behaviour, helping them optimize team recruitment and management. Led by CEO Garfield Fisher, the company will use the funds raised to enhance its product, integrating video and photo analysis in addition to text.
    Kirk Falconer
  • Kayne, Yaletown invest $16 mln in Circle Cardiovascular Imaging May 22, 2018 6:45 pm
    Circle Cardiovascular Imaging Inc, a Calgary-based developer of advanced post-processing software for the cardiac imaging (CVI) industry, has secured $16 million in follow-on funding. The round was led by U.S. investor Kayne Anderson Capital Advisors and Canadian private equity firm Yaletown Partners. The proceeds will mostly be used to accelerate commercialization of Circle's CVI software suite for cardiologists and radiologists. Founded in 2007, Circle's product is used in more than 800 hospitals in over 40 countries. Led by CEO Greg Ogrodnick, the company is also backed by BDC Capital, Epic Capital Management, Foundation Equity and other investors.
    Kirk Falconer
  • Fiix raises $15.5 mln Series B financing led by BuildGroup May 22, 2018 5:03 pm
    Toronto-based maintenance software provider Fiix has secured about $15.5 million (US$12 million) in a Series B financing. The round was led by BuildGroup, which also led the company's Series A in 2016. Founded in 2008 and formerly known as Maintenance Assistant, Fiix creates software that helps businesses organize their maintenance departments and turn data into actionable insights. Led by CEO Marc Castel, the company has served clients in manufacturing, wholesale trade, construction, and transportation and warehousing, and currently works with more than 20,000 users in 90 countries. Fiix's other backers include MaRS Investment Accelerator Fund.
    Kirk Falconer
  • Dooly seeded with $2 mln in ScaleUP Ventures-led round May 22, 2018 4:13 pm
    Dooly, a Vancouver-based enterprise sales solution, has raised $2 million in a seed-stage financing. The round was led by ScaleUP Ventures and joined by Panache Ventures, Pallasite Ventures and New Avenue Capital. Launched in 2016 by CEO Kris Hartvigsen and CTO Justin Vaillancourt, Dooly is a developer of Salesforce-synced software that leverages artificial intelligence to automate the sales process by moving information to and from customer-facing teams in real time. It aims to eliminate 65 percent of the time spent on back-end customer relationship management (CRM) tasks. Dooly said the funds raised will help it reach more clients and add new features to the platform.
    Kirk Falconer
  • Engineering talent solution Terminal closes $13 mln Series A May 22, 2018 3:33 pm
    Terminal, a Kitchener, Ontario-based builder of remote engineering teams, has raised $13 million in a Series A financing. The round included investments from Lightspeed Venture Partners, Thiel Capital, Kleiner Perkins Caufield & Byers, Atomic, Craft Ventures and Jerry Yang, founder of Yahoo. Launched in 2017 by Atomic's Jack Abraham and Luke Finney, 8VC's Joe Lonsdale and Eventbrite's Dylan Serota, Terminal recruits technical talent and establishes and manages remote work spaces for technology companies. Hiring Atomic's Clay Kellogg as CEO, Terminal will use funds raised to scale operations in its five Canadian and U.S. offices and expand into Latin America.
    Kirk Falconer
  • Medical data company Canary Medical wins $33.2 mln in VC May 18, 2018 4:59 pm
    Vancouver medical data company Canary Medical Inc has raised an investment of about $12.8 million (US$10 million) from the global health sciences fund of Canadian venture capital firm Quark Venture and China’s GF Securities Co Ltd. The deal is part of a broader financing round of about $33.2 million (US$26 million) that is also backed by BioScience Managers and Relentless Pursuit Partners. Canary develops implant and data management ecosystem technology used for remote patient monitoring. Led by CEO Bill Hunter, the company will use the funds raised for the development of a smart artificial knee implant through to commercial release.
    Kirk Falconer
  • CPPIB partners in $120 mln funding of fashion brand Lulus May 17, 2018 2:09 pm
    Canada Pension Plan Investment Board (CPPIB) has partnered in a US$120 million investment in Lulus, a Chico, California-based digitally native apparel brand for women. CPPIB invested alongside IVP, a U.S. late-stage venture capital and growth equity firm. They join existing investor HIG Growth Partners, which has backed Lulus since 2014. Lulus started out in 1996 as a vintage boutique and in 2008 transitioned to purely online sales of products from the Lulus label and a selection of designers and brands. The company uses data to anticipate demand trends and a merchandising strategy to engage its millennial customer base.
    Kirk Falconer
  • Augmented intelligence platform Primal wins $2.3 mln from BDC May 17, 2018 1:31 pm
    Primal, a Waterloo artificial intelligence company focused on consumer and enterprise applications that augment human intelligence, has secured a $2.3 million loan from the Business Development Bank of Canada (BDC). Founded in 2004, Primal's augmented intelligence platform, which is backed by 148 patents, makes use of semantic synthesis and knowledge representation to understand text similar to how the human brain processes and represents information. The company will use the loan's proceeds to commercialize new applications, pursue partnerships, sign licensing deals, and invest in sales and marketing.
    Kirk Falconer
  • Motorleaf secures $3.65 mln in Radicle-led seed financing May 17, 2018 12:59 pm
    Motorleaf, a Montréal-based artificial intelligence platform for indoor growers, has raised about $3.65 million (US$2.85 million) in seed-stage financing. U.S. agriculture and food technology investor Radicle Growth led the round. It was joined by Desjardins Capital, Real Ventures, Fluxunit, BDC Capital and 500 Startups Canada. Founded three years ago by CEO Alastair Monk and CTO Ramen Dutta, Motorleaf's platform lends monitoring and predictive capabilities to operators of greenhouses, indoor farms and growth chambers, helping them improve crop yields and profits. The company will use the funds raised to further develop its agronomic solutions.
    Kirk Falconer
  • ScaleUP Ventures leads $11.5 mln Series A round of #paid May 15, 2018 2:25 pm
    Toronto-based influencer marketing platform #paid has secured about $11.5 million (US$9 million) in a Series A financing. Canadian venture capital firm ScaleUP Ventures led the round and was joined by several existing investors, including Aitken Investments and Freycinet Investments. Founded in 2014 by CEO Bryan Gold and CSO Adam Rivietz, #paid provides an artificial intelligence-based platform to bring together marketers and content creators for integrated influencer marketing programs, content creation and native amplification. The company plans to use the funds raised to accelerate growth and enhance its technology.
    Kirk Falconer
  • OpenView leads $20 mln Series C funding of Auvik Networks May 15, 2018 12:56 pm
    Auvik Networks Inc, a Waterloo, Ontario-based provider of network monitoring and management software for managed service providers, announced it has raised $20 million in a Series C financing. OpenView led the round with participation from Celtic House Venture Partners and Rho Canada Ventures. All three venture capital firms are existing investors. Auvik was founded in 2011 by CEO Marc Morin, CTO David Yach and Vice President, Product and Sales, Alex Hoff. Last year, the company closed a $15 million Series B financing, also led by OpenView. To date, Auvik has raised close to $45 million.
    Alastair Goldfisher
  • Celtic House leads seed round of Raven maker Klashwerks May 10, 2018 10:25 pm
    Klashwerks, a connected car technology company, has raised an undisclosed seed-stage financing. The round was led by Canadian venture capital firm Celtic House Venture Partners. It was joined by FundFire and MaRS Investment Accelerator Fund. Founded in 2016 by CEO Russell Ure and Dan Carruthers, Ottawa-based Klashwerks' flagship product is Raven, a comprehensive solution for connecting drivers with their cars. Its cameras, navigation, diagnostics, data and mobile app help monitor road conditions, auto security and the whereabouts of family members. Klashwerks said Raven is the first of many products to come.
    Kirk Falconer
  • TIMIA provides $2 mln funding facility to Vonigo Software May 10, 2018 7:34 pm
    TIMIA Capital Corp has provided an investment facility of $2 million to Vonigo Software Ltd, a Vancouver-based online business management platform that helps streamline operations and increase sales of mobile service companies. TIMIA, a Canadian revenue financing firm, will disburse an initial $700,000 and provide a further $1.3 million as the company meets certain milestones. Vonigo was founded in 2010 by CEO John Carter and CTO Roman Azbel. The deal with TIMIA is intended to support the company's growth plans.
    Kirk Falconer
  • Motion Gestures raises $2.1 mln in CCAA-led seed financing May 9, 2018 7:29 pm
    Motion Gestures, a provider of machine learning-based gesture recognition software, has raised about $2.1 million (US$1.65 million) in a seed-stage financing. The round was led by China Canada Angels Alliance (CCAA) and joined by Golden Triangle Angel Network, Keiretsu Forum and Propel(x). Founded in 2016, Motion Gestures' software can be used to create gesture recognition-based human-machine interfaces for products and services in a variety of business verticals. Led by CEO Kashif Kahn, the Waterloo-based company will use the funds raised to further develop its technology and launch global marketing.
    Kirk Falconer
  • BiomeRenewables secures $3 mln from LCIF, angels May 9, 2018 4:43 pm
    Toronto-based biomimetic innovation platform BiomeRenewables has secured $3 million in funding from the Government of Ontario's Low Carbon Innovation Fund (LCIF) and unidentified private investors in the wind industry. Founded in 2015 by CEO Ryan Church, BiomeRenewables is an industrial design group developing solutions to address technical and productivity challenges faced by renewable energy technologies. It will use the funds raised to validate the company's aerodynamic PowerConeTM technology in a full-scale wind turbine pilot study.
    Kirk Falconer
  • What America can learn from Canada’s first-mover advantage in cannabis May 9, 2018 11:00 am
    When Canada announced plans to legalize adult-use cannabis, the world's press seized on how it would mark a first among the G7 group of industrialized nations. But behind that eye-catching headline, an even bigger one is emerging, writes Karan Wadhera, managing partner of Snoop Dogg's Casa Verde Capital, in a PE Hub Canada feature article. And it tells the story of how Canada's progressive approach is helping transform a talented generation of home-grown companies into tomorrow's global leaders.
    Karan Wadhera
  • India’s Mahindra leads Resson’s $14 mln Series C round May 8, 2018 9:59 pm
    Resson, a Fredericton, New Brunswick-based provider of predictive analytics to the agricultural industry, has raised $14 million in a Series C financing. The round was led by Indian vehicle maker Mahindra & Mahindra Ltd, which joins existing strategic partners McCain Foods Ltd and Monsanto Co. They and Build Ventures, Rho Canada Ventures, BDC Capital, East Valley Ventures and New Brunswick Innovation Foundation also backed the Series C. Resson uses machine learning, big data analytics and computer vision to help growers of crops make better-informed decisions and increase productivity. Founded in 2013, the company is led by CEO Jeff Grammer.
    Kirk Falconer
  • Xanadu raises $9 mln in OMERS Ventures-led seed round May 8, 2018 1:00 pm
    Photonic quantum computing startup Xanadu has raised $9 million in a seed-stage financing. The round was led by OMERS Ventures and joined by Golden Ventures and Real Ventures. Founded in 2016 by CEO Christian Weedbrook, Toronto-based Xanadu designs and integrates quantum silicon photonic chips into existing hardware to create full-stack quantum computing. The result is expected to be increased capacity for solving problems in machine learning, chemistry, finance, sensing and drug discovery. Xanadu also announced that Seth Lloyd, an MIT professor and quantum computing expert, has joined the company as chief scientific advisor.
    Kirk Falconer
  • Smart traffic platform Miovision wins $15 mln in follow-on VC May 7, 2018 1:28 pm
    Smart traffic intersection technology provider Miovision has secured a $15 million convertible note, which it said is a precursor to a "significantly larger" financing. MacKinnon, Bennett & Co, Miovision's largest shareholder, co-led the note with McRock Capital. BDC Capital and HarbourVest Partners also invested. McRock Managing Partner Whitney Rockley has joined the board as a result. Founded in 2005, Kitchener, Ontario-based Miovision develops traffic intersection solutions that enable real-time adaptive traffic control and infrastructure communication with connected cars, other vehicles and pedestrians. It will use the funds raised to accelerate global growth.
    Kirk Falconer
  • Avrio Capital leads $13 mln growth funding of Sol Cuisine May 3, 2018 9:17 pm
    Sol Cuisine Inc, a Toronto-based alternative protein brand, has secured $13 million in growth financing led by Avrio Capital, a Canadian food and agriculture technology investor. Export Development Canada (EDC) and Investeco Capital partnered in the deal. Avrio Senior Associate Jonathan Goodkey and an EDC representative will join the board as a result. Sol Cuisine, founded in 1980 by CEO Dror Balshine, caters to retail and restaurant consumers in search of plant-based proteins made on a gourmet vegan, non-GMO, and wheat- and gluten-free basis. Avrio Managing Partner Aki Georgacacos said his firm's investment attests to growth prospects in the protein vertical.
    Kirk Falconer
  • Background check app Certn seeded by VCs, angels May 3, 2018 5:57 pm
    Certn, a Victoria, British Columbia-based background check platform, has raised a seed-stage financing. No financial terms were disclosed; however, Betakit said the round's value is $975,000. Atrium Ventures, Panache Ventures, Hello Ventures, iNovia Capital and a number of angel investors were among the backers. Launched in 2016 by Andrew McLeod, Evan Dalton and Owen Madrick, Certn's technology uses available data and artificial intelligence to allow lenders, property managers and employers to more fully evaluate the credibility of applicants. It plans to use the funds raised to enhance its platform and support growth.
    Kirk Falconer
  • TIMIA provides $1.5 mln in revenue funding to 7Geese May 2, 2018 7:58 pm
    TIMIA Capital Corp has agreed to provide $2 million in revenue financing to 7Geese, a Vancouver-based human resources performance management company. TIMIA will initially deploy $1 million and make a further disbursement of $500,000 when certain milestones are met. Founded in 2010, 7Geese is led by CEO Amin Palzabin. It will use the funds raised for sales and marketing activity. TIMIA, a Canadian specialty finance firm, provides financing to technology companies in exchange for a royalty on revenue.
    Iris Dorbian
  • Raven Telemetry scores $6.1 mln, Fresh Founders invests May 2, 2018 4:58 pm
    Raven Telemetry, an artificial intelligence company focused on the manufacturing sector, has secured $6.1 million from a group of angel investors. Fresh Founders, including Shopify’s Tobi Lütke and Harley Finkelstein, joined the round alongside former Stackpole CEO Rob Lander, former TripAdvisor executive Luc Levesque, former Cognos CEO Rob Ashe, Jacket River and HBS Angel Investors. Ottawa-based Raven uses mobile hardware, software and cloud-based analytics driven by AI to improve plant efficiency. It was founded in 2013 by CEO Martin Cloake, President Andrew Blanchard and Head of Data Science Braden Stenning.
    Kirk Falconer
  • C2RO raises $1.4 mln to advance collaborative cloud robotics May 2, 2018 4:05 pm
    Collaborative cloud robotics platform C2RO Cloud Robotics Inc has secured about $1.4 million (US$1.1 million) in a seed-stage financing. U.S. venture capital firm Harbor Street Ventures led the round and was joined by TandemLaunch Ventures, which helped create C2RO, as well as Fonds InnovExport and several Canadian, U.S. and European angel investors. Founded in 2016, C2RO uses cloud-based artificial intelligence services to boost cognitive and collaborative capabilities of service robots with an internet connection. Led by President and CEO Riccardo Badalone, the Montréal-based startup will use the funds raised to accelerate commercialization of its enterprise solutions.
    Kirk Falconer
  • Portag3 Ventures backs Quovo’s Canadian expansion May 2, 2018 3:01 pm
    Quovo, a U.S. data platform that provides connectivity to consumer financial accounts, has expanded into the Canadian market. The initiative was backed by an undisclosed investment from Portag3 Ventures, an early-stage financial technology fund launched in 2016 by Canada’s Power Financial Corp. The deal brings Quovo's total financing so far to US$20 million. Founded in 2010, New York's Quovo provides businesses with connectivity and insights for millions of consumer financial accounts across more than 14,000 institutions. The company said Portag3’s investment will support building a regional team and meeting Canadian consumer demand.
    Kirk Falconer
  • iNovia Capital leads $10.3 mln Series A funding of BenchSci May 2, 2018 12:27 pm
    BenchSci, a Toronto-based artificial intelligence-powered search engine for biological products, has raised about $10.3 million (US$8 million) in a Series A financing. The round was led by Canadian venture capital firm iNovia Capital. It was joined by Google’s AI fund, Gradient Ventures, Golden Venture Partners, Afore Capital, Real Ventures and Radical Ventures. BenchSci's platform helps biomedical researchers find reliable antibodies faster and less expensively than current methods. Founded in 2015 and led by CEO Liran Belenzon, the company will use the funds raised to expand its team, implement new sales and marketing programs, and scale its technology.
    Kirk Falconer
  • MindBridge Ai nabs $8.4 mln in Real Ventures-led Series A May 1, 2018 10:31 pm
    Ottawa-based financial technology startup MindBridge Analytics Inc has raised $8.4 million in a Series A financing, bringing its total funding to $15 million. Real Ventures, which invested in MindBridge Ai's seed financing last June, led the Series A round. It was joined by Reciprocal Ventures, National Bank of Canada, The Group Investment and 8VC. MindBridge Ai's platform uses machine learning and artificial intelligence to detect anomalous patterns of activities, unintentional errors and intentional misstatements to help organizations minimize financial loss and reduce liability. Founded in 2015, the company is led by CEO Eli Fathi.
    Kirk Falconer
  • PenderFund finds first growth deal in portable ultrasound tech May 1, 2018 10:05 pm
    PenderFund Capital Management’s new tech growth fund agreed to make its first investment, a $3 million stake in medical-imaging company Clarius Mobile Health, an executive at the Vancouver firm told Buyouts. Maria Pacella, senior vice president of private equity, is co-manager of Pender Technology Inflection Fund, alongside Founder and CEO David Barr. The fund, which held a first close in February, is seeking to raise $50 million, Pacella said, with a final close expected in spring 2019.
    Eamon Murphy
  • Boost VC invests in information clarity app Skritswap May 1, 2018 6:11 pm
    Skritswap, a Sault Ste. Marie, Ontario-based app for improving information clarity, has secured an investment from Boost VC, a U.S. venture capital firm. No financial terms for the "six-figure" deal, Skritswap's first involving an institutional source, were disclosed. Skritswap, which was founded in 2015 by CEO Melissa Kargiannakis, uses artificial intelligence to replace complex jargon in documents, such as a mortgage, will or tax code, with simple, everyday language. The company is also backed by angel investors, including Joseph Fung, CEO of Kiite and former CEO of TribeHR.
    Kirk Falconer
  • Autonomous vision platform Algolux closes $12.8 mln Series A May 1, 2018 3:51 pm
    Algolux Inc, a Montréal-based provider of machine-learning stacks for autonomous vision and imaging, has raised about $12.8 million (US$10 million) in a Series A financing. The round was led by General Motors Ventures and joined by Drive Capital, Intact Ventures and Real Ventures. Algolux was founded in 2014 by CEO Allan Benchetrit and CTO Felix Heide, and with the support of accelerator TandemLaunch. Its technology helps vehicles and devices address challenges posed by everyday scenarios like extreme lighting and adverse weather. Algolux plans to use the funds raised to further advance its platform and pursue global business development.
    Kirk Falconer
  • Lumira Capital joins Cardiac Dimensions’ $39 mln Series B April 26, 2018 10:16 pm
    Cardiac Dimensions, a U.S. developer of minimally invasive treatments for patients with heart failure, has secured US$39 million in a Series B financing. The round was backed by Australia's Hostplus, a new investor in the company, as well as venture debt from Oxford Finance and support from existing investors, among them Canadian life sciences venture capital firm Lumira Capital. Cardiac, which has its headquarters in Kirkland, Washington, will use the funds raised for clinical studies, including for its Carillon Mitral Contour System, and for commercial expansion in Europe and Australia.
    Kirk Falconer
  • Canadian miners lead $10.6 mln funding of Tradewind April 26, 2018 3:41 pm
    New York-based financial technology company Tradewind has raised US$10.6 million in financing, bringing its total funding so far to US$22.8 million. The latest round was led by Canadian mining companies Agnico Eagle Mines Ltd, Iamgold Corp and Wheaton Precious Metals Corp. They were joined by new and existing investors Goldcorp Inc, Sapphire Ventures and Sprott Inc. Founded in 2016, Tradewind has built a platform for digitizing the trading, settlement, and ownership of precious metals. The funds raised will be used for the company's expansion into global markets and extended functionality of its platform.
    Kirk Falconer
  • Brookfield’s new VC fund invests $15 mln in BuildingConnected April 25, 2018 3:59 pm
    BuildingConnected, a San Francisco-based provider of communication software to the construction industry, has raised US$15 million in new funding. The round's sole investor was Brookfield Ventures, the new venture capital fund of Canada's Brookfield Asset Management. BuildingConnected's software is designed for real estate owners and general contractors to facilitate selecting contractors for construction projects. Also backed by Crosslink Capital, Lightspeed Ventures and others, the company will use the funds raised to expand its geographic footprint and develop new products.
    Kirk Falconer
  • Content experience platform Uberflip wins $41 mln in Series A April 24, 2018 4:45 pm
    Uberflip, a Toronto-based cloud content experience platform, has secured about $41 million (US$32 million) in a Series A financing. The round was led by U.S. growth equity firm Updata Partners, whose General Partner Jon Seeber and Senior Associate Arun Singh will join the board. Uberflip provides tools to aggregate marketing content, allowing B2B marketing and sales teams to create more personalized content experiences. Founded in 2012 by CEO Yoav Schwartz and CMO and President Randy Frisch, it has so far added more than 1,000 B2B companies to its customer base. Uberflip will use the funds raised to support on-going product development.
    Kirk Falconer
  • Restaurant supplies app ChefHero closes $12.6 mln Series A April 24, 2018 1:05 pm
    ChefHero, a Toronto-based digital marketplace for restaurant supplies, has raised $12.6 million in a Series A financing. The round was led by U.S. venture capital firm Accomplice.co. It was joined by Golden Venture Partners, Precursor Ventures and Math Ventures. Founded three years ago by CEO Saif Altimimi and CTO Diego Domínguez Ferrera, ChefHero provides an online mobile and web application that allows restaurant owners and their staff to order wholesale food and supplies through a single network. The company will use the proceeds of the Series A to accelerate growth in select cities across North America.
    Kirk Falconer
  • BDC invests $40 mln in Ensyn, GreenMantra, GHGSat, Enlighten April 23, 2018 2:25 pm
    Business Development Bank of Canada (BDC) has invested a total of $40 million in four Canadian clean technology companies. The investments, made from a $700 million program launched by the federal government in January, backed Ensyn Technologies, an Ottawa-based converter of forest residues into heating fuels; GreenMantra Technologies, a Brantford, Ontario-based converter of waste plastics into specialty polymers and other specialty chemicals; GHGSat, a Montréal-based maker of a satellite that measures greenhouse gas emissions, and; Enlighten Innovations, a Calgary-based developer of technology for desulphurizing heavy oils.
    Kirk Falconer
  • SoundBite closes $19.9 mln Series A, Fidelity Canada invests April 20, 2018 1:36 pm
    Montréal-based medical device company SoundBite Medical Solutions Inc earlier in April raised $19.9 million in a Series A financing and said it may secure more funding in a second tranche this quarter. New and existing investors backed the round, among them Fidelity Investments Canada. Founded in 2015, SoundBite is a developer of shock wave technology to address clinical needs in interventional vascular treatment. It will use the funds raised to prepare for a commercial launch in Europe and clinical testing and development priorities. Along with the Series A round, the company announced the appointment of Francis Bellido as CEO.
    Kirk Falconer
  • Auto maintenance service GoWrench nabs $525k in VC April 19, 2018 7:46 pm
    Hamilton, Ontario-based automotive maintenance service GoWrench Auto has raised $525,000 in financing. The investors included Ontario Centre of Excellence, Good News Ventures, Lindsay Adamson and Sameer Kochhar, the founder of Last Pass. Launched in 2015, GoWrench's mobile service helps send certified auto mechanics directly to the customer. Currently available in over 45 Canadian cities, the company plans to use the funds raised to scale-up operations, on-board mechanics, and develop its B2B and consumer-facing platform. GoWrench is led by Founder and CEO Josh Lombardo-Bottema.
    Kirk Falconer
  • Caisse and Fengate-backed eStruxture acquires Backbone April 19, 2018 7:20 pm
    EStruxture Data Centers Inc has acquired Backbone Datavault, a Vancouver-based colocation services provider. No financial terms were disclosed. EStruxture, a Montréal-based network and cloud-neutral data centre operator, said the deal supports its expansion to Vancouver and allows the company to serve customers in both Western and Eastern Canada. Launched last June with a pan-Canadian acquisition and development strategy, eStruxture has been backed with $180 million in financing from various sources, including Caisse de dépôt et placement du Québec and Fengate Real Asset Investments.
    Kirk Falconer
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