Private Equity
The Canadian government has made a $1.74 million funding commitment to Centre d'entreprises et d'innovation de Montréal (CEIM). The funding is intended to support CEIM's business incubation activity in emerging technology sectors, including communications, information technology, new media, clean and industrial technology, and life sciences. CEIM was founded in 1996.
2 min read · 13 May 2014
Agiliance Inc has received $5 million in expansion financing from Canadian specialty finance firm Wellington Financial. Headquartered in Sunnyvale, Calif., Agiliance is a provider of integrated solutions for operational and security risk programs. Founded in 2005, the company's venture capital backers include Intel Capital, Walden International, Red Rock Ventures and Castile Ventures. Update: Agiliance's latest funding round will be used to increase product marketing evangelism, leverage target sector distribution and solution coverage, and bring to market a new cloud offering.
3 min read · 13 May 2014
LemonStand eCommerce Inc, a flexible e-commerce platform for online retail professionals, has integrated with Payfirma Corp, according to a post on LemonStand's website. LemonStand said the partnership would allow clients to use both its platform and Payfirma's payment processing apps. Founded in 2008, the Vancouver-based Lemonstand has been backed since 2013 by BDC IT Venture Fund and a number of angel investors.
1 min read · 12 May 2014
Cybersecurity startups are all the rage in Silicon Valley. One of the most talked about is Shadow Networks, which is creating a virtual environment for detecting and undermining advanced persistent threats. Led by Canadian-born president and CEO Eric Winsborrow, Shadow Networks has raised more than US$15 million from VCs, including Canadian VCs Yaletown Venture Partners, which seeded the company, and Rho Canada Ventures. Now Shadow Networks has plans for coming to Canada.
7 min read · 12 May 2014
Wurldtech Security Technologies Inc has agreed to be acquired by General Electric Co (NYSE: GE). The financial terms of the transaction were not published. With its headquarters in Vancouver, Wurldtech is a provider of cybersecurity technology and services to help assess, protect and certify critical infrastructure and industrial products. The company will retain its name and operate as a subsidiary to continue providing the necessary focus on services to its customer base, General Electric said. Founded in 2007, Wurldtech was a portfolio company of Canadian venture capital firm Vanedge Capital and other investors.
3 min read · 09 May 2014
Capital pool company Southtech Capital Corp (TSX-V: STU.P) announced that Redfall Technologies Inc, which does business as Vogogo, has agreed to amalgamate under the issuing name Vogogo Inc. In connection with the deal, Redfall intends to complete a $5.4 million private placement and $20 million share exchange. Tony Lacavera, chairman and CEO of Globalive Holdings and WIND Mobile, is a proposed director of the new company. Based in Calgary, Redfall is an online payment and transaction processing business. Founded in 2008, it is a portfolio company of Canadian venture capital firm AVAC. AVAC invested $1 million in Redfall in July 2013.
10 min read · 08 May 2014
Canadian chocolate manufacturer and distributor Corfias Inc recently secured $575,000 in financing from four members of Anges Québec, a network of 147 angel investors that invests in early-stage companies. The investors include Maxime Detraux and Bernard Giguère. The Boucherville, Québec-based Corfias will use the funds to increase production, accelerate marketing, consolidate its sales force and leverage the potential of its premium chocolates brand.
3 min read · 07 May 2014
RosterBot Inc, a web-based athletic team management app, has received more than $1 million in seed-stage financing. The round was led by U.S. private equity firm Sora Capital with the participation of angel investors, including David Tedman, co-founder of Hootsuite, and RosterBot co-founder Bret Hedican. Paul Reinhart, Sora's president and CEO, has joined the company's board of directors. Founded in 2012, RosterBot also announced that it has been accepted into the startup acceleration program of Invoke Labs, a Canadian digital innovation firm. RosterBot has its headquarters in Vancouver and also has an office in Silicon Valley.
3 min read · 07 May 2014
Mobile sports app theScore Inc (TSX-V: SCR), spun out of Score Media Inc in 2013, has closed a public share offering and private placement totaling $17.25 million. Canadian venture capital firm Relay Ventures, which contributed to last year's $16 million financing of the Toronto-based startup, participated in the deal with Levfam Holdings. Investment proceeds will be used to further develop theScore's platform, expand sales and marketing, and for general corporate and working capital purposes. Relay Ventures' managing partner John Albright was interviewed by peHUB Canada in May 2013 about theScore and Relay's other recent deals in the early-stage mobile connectivity space.
4 min read · 07 May 2014
Kabbage Inc, an Atlanta-based online lender to small businesses, has raised a US$50 million Series D financing round. The deal was led by U.S. venture capital firm SoftBank Capital and was joined by a number of other new and existing investors, including Thomvest Ventures, the US$250 million early-stage fund of Canada's Peter Thomson. Founded in 2008, Kabbage now has raised about US$106 million in equity since 2010. The company also has raised some US$367 million in debt funding.
4 min read · 05 May 2014
