VarageSale, an online marketplace that provides people with a trusted environment in which to buy and sell, has raised $34 million. As flagged by peHUB Canada last month, one of the investors in the round was U.S. venture capital firm Sequoia Capital. Joining Sequoia was Lightspeed Venture Partners. Lightspeed's Jeremy Liew and Sequoia's Bryan Schreier have joined the startup's board of directors. Co-founded in 2012 by Carl Mercier and Tami Zuckerman-Mercier, VarageSale plans to use the funds to support product development and community growth and to expand its Toronto team. Canadian venture capital firm Version One Ventures recently disclosed that it is an existing investor in the company.
4 min read · 05 April 2015
HyTrust Inc, a U.S. cloud security automation company, has raised US$33 million in follow-on equity and debt financing. The round was led by Accelerate-IT Ventures and was joined by a new investor: Canadian venture capital firm Vanedge Capital. Existing backers, including Epic Ventures, Granite Ventures, Trident Capital and strategic groups, also committed to the round. With the deal's closing, Vanedge Capital Partner Moe Kermani has joined the company's board as an observer. The Silicon Valley-based HyTrust said the new funds will be used to support product development and innovation, accelerate sales and marketing, and boost global expansion.
4 min read · 01 April 2015
Canadian intent marketing technology startup Chango Inc has agreed to be sold to Rubicon Project (NYSE: RUBI), a U.S. advertising automation platform. The total consideration is about US$122 million, including contingent consideration, primarily in stock. The Toronto-based Chango, which was last year identified by Deloitte as one of Canada's fastest growing technology companies, has since 2009 raised about US$20 million in venture capital. Its backers include iNovia Capital, Rho Canada Ventures, Metamorphic Ventures, Mantella Venture Partners and Extreme Venture Partners. Rubicon said the acquisition, which is due to close in the second quarter, will enable the expansion of its premium advertising marketplace.
10 min read · 01 April 2015
HomeAway Inc, an Austin, Texas-based online marketplace for vacation rentals, has made a minority investment in CanadaStays, a vacation rental website with headquarters in Toronto. Canadian media company Torstar Corp also participated in the deal, which is valued at $6 million, CanadaStays said. Founded in 2005, HomeAway is backed by Austin Ventures, Redpoint Ventures, Institutional Venture Partners, Trident Capital, American Capital, Technology Crossover Ventures and Google Ventures. Update: The company said the investment in and partnership with CanadaStays will expand its North American footprint and increase opportunities for travellers.
5 min read · 01 April 2015
Genome Canada has made a $15.5 million investment in the Genomics Innovation Network, a network of Canadian innovation centres that is intended to advance research in genomics, metabolomics, proteomics and related areas. The network is comprised of ten "nodes", each of which will receive operational funding from Genome Canada and matching funds from public and private sector partners. Genome Canada is a federally-funded non-profit organization focused on the development of genomics and genomic-based technologies.
3 min read · 31 March 2015
Thrasos Therapeutics, a Montréal-based biotherapeutics company focused on delivering new treatments for kidney disease, has raised $21 million in a Series D round. BDC Capital and SR One led the financing with the participation of all existing investors, which include Advanced Technology Ventures, Fonds de solidarité FTQ, Lumira Capital, MP Healthcare Venture Management and Pappas Ventures. With the deal's closing, BDC Managing Partner Ela Borenstein has joined Thrasos' board of directors. Update: The company said it will use the new investment's proceeds to advance its technology and to position its lead program for the next step in clinical development.
4 min read · 31 March 2015
Enbala Power Networks, a provider of distributed energy resource management solutions, has secured $11 million in follow-on financing. Backing the round was a mix of new and existing investors, including GE Ventures, Edison Energy, a subsidiary of U.S. utility holding company Edison International, Export Development Canada, EnerTech Capital Partners, Sorfina Capital and Chrysalix Energy Venture Capital. Update: The Vancouver-based Enbala said it will use the proceeds of its latest investment to extend and enhance its platform, which aggregates, controls, optimizes and dispatches distributed energy in real-time. The company was founded in 2003.
3 min read · 30 March 2015
Chrysalix Energy Venture Capital is approaching a first close on Chrysalix Energy LP IV, thanks to a technology message that has struck a chord with struggling resource industries. The fund, which is targeting US$150 million to US$250 million in committed capital, is expected to wrap up an initial close by mid-2015, said Wal van Lierop, co-founder and CEO of the Vancouver-based firm.
3 min read · 30 March 2015
Solegear Bioplastic Technologies Inc has obtained a public listing on the TSX Venture Exchange following the close of a previously announced qualifying transaction with Rodeo Capital III Corp, now known as SBTI. SBTI will now be listed as a Tier 2 exchange issuer. Solegear, a Vancouver-based maker of high-performance bioplastics products, said it also raised $4.2 million in a private placement financing and debt conversion. Canadian venture capital firm Yaletown Venture Partners, which led the company's Series A round in 2012, subscribed for units valued at $300,000. Also backed by Best Buy Capital and angel investors, Solegear secured a venture debt facility from Comerica last October.
7 min read · 27 March 2015
CareGuide, a marketplace for care services, has secured additional seed-stage investment from a large group of angel investors. They included Karamdeep Nijjar, a partner at Canadian venture capital firm iNovia Capital. According to AngelList, the latest round brings the company's total financing to date to close to $5 million. Nijjar said that CareGuide will use the new funds to grow and reinforce existing investments "in an aggressive product roadmap." Founded in 2012, the Toronto-based company is focused on matching families with quality care providers through a portfolio of websites.
3 min read · 26 March 2015
