Tasktop Technologies Inc, which in June raised $11 million in a Series A financing, has hired Simon Bodymore as its chief financial officer (CFO). Bodymore was previously CFO of Wurldtech Security Technologies Inc, a portfolio company of Vanedge Capital and other investors before its acquisition by General Electric Co earlier this year. Based in Vancouver, Tasktop is the developer of an integration technology designed to improve software productivity. Founded in 2007, it is backed by Canadian venture capital firm Yaletown Partners and U.S. firm Austin Ventures.
3 min read · 23 October 2014
The Canadian Innovation Exchange (CIX) has released its 2014 list of the most innovative technology companies. The companies, many of which are backed by Canadian and U.S. venture capital firms, have been inducted into the annual CIX Top 20 program and will appear at the 7th annual CIX forum on November 18 at MaRS Discovery District. They are: Askuity, Bridgit, ChargeSpot Wireless Power, Cirius Messaging, Figure 1, Flixel Photos, FusionPipe Software Solutions, Gallop Labs, GridCure, GuestDriven, InteraXon, Mighty Cast, Mnubo, PostBeyond, RosterBot, Sightline Innovation, Vantage Analytics, ViewsIQ, VitalSines and WealthSimple.
2 min read · 22 October 2014
Listn, a music app created by Montréal-based company MFive Labs Inc, announced that it is joining Beatport, a brand affiliate of U.S. media conglomerate SFX Entertainment Inc. The financial details of the acquisition were not published. MFive Labs, a graduate of Canadian startup accelerator FounderFuel, received seed-stage funding from Canadian venture capital firms BDC Capital and Real Ventures last year. Beatport is a disc jockey and electronic music community. It was acquired by SFX in early 2013.
2 min read · 22 October 2014
LightSpeed Retail Inc, which in September closed a $35 million financing, has acquired POSIOS, a Belgian mobile point-of-sale platform targeted to the hospitality industry. The financial terms of the deal were not disclosed. POSIOS joins LightSpeed as Lightspeed Restaurant, a cloud-based product offering to cafes, bars, nightclubs, fine dining and chain restaurants. POSIOS co-founder, Zhong Xu, will lead Lightspeed Restaurant's strategy as the company's director of hospitality. Based in Montréal, LightSpeed is a retail commerce platform. It is backed by Canadian venture capital firm iNovia Capital and U.S. firm Accel Partners.
3 min read · 22 October 2014
Emerald Technology Ventures, which has offices in Toronto and Zurich, Switzerland, has jointly with South Pole Carbon won a mandate to manage the Swiss Technology Fund. The fund was formed by the Swiss government to extend loan guarantees to Swiss small businesses that are developing innovative technologies to reduce greenhouse gas emissions, support the use of renewable energy or conserve natural resources. Founded in 2000, Emerald is focused on investing in the areas of energy, water, advanced materials and industrial information technology.
4 min read · 22 October 2014
The Better Bean Co, a manufacturer of beans using all-natural, quality ingredients, has obtained US$1.5 million in equity financing. One of the investors in the round was Canadian venture capital firm Renewal Funds. Founded in 2009, the Portland, Oregon-based Better Bean is also backed by Portland Seed Fund. With headquarters in Vancouver, Renewal Funds is an early-stage investor focused on environmental and social mission businesses in Canada and the United States. Earlier in October, the firm also made a follow-on investment in U.S.-based personal care company Sensible Organics Inc.
4 min read · 21 October 2014
Pyrowave Inc, developer of a microwave pyrolysis technology for recycling plastics, has secured $250,000 in convertible debt financing. The source of the investment was not disclosed. Pyrowave, which has offices in Toronto and Montréal, said proceeds will fund its final pilot machine. The company also said it plans to raise equity funds through the network of Canadian boutique finance advisory firm GreenSky Capital. GreenSky assisted Pyrowave in closing its latest financing deal.
2 min read · 21 October 2014
CrowdCare Corp has secured $3.5 million in follow-on financing. The round was led by Canadian venture capital firm Extreme Venture Partners and was joined by existing investors, including Mantella Ventures Partners. Mantella was reported to have led CrowdCare's $1 million investment earlier this year. The Richmond Hill, Ontario-based company said the new funding will contribute to accelerating the deployment of its Wysdom plaftorm, which helps customers get answers to questions about their mobile technology. CrowdCare was founded in 2012 by CEO Ian Collins and president Jeff Brunet.
4 min read · 21 October 2014
Slyce Inc (TSX-V: SLC), a venture-backed Canadian startup that went public in July, has agreed to acquire U.S.-based Drivetrain Agency LLC. Consideration for the deal, which totals US$3.45 million, includes a common shares issue by Slyce, cash and deferred cash payments. Based in Minneapolis, Minnesota, Drivetrain builds mobile, social and web apps for corporate clients. Upon the acquisition's closing, Drivetrain founder and CEO Daniel Grigsby will join Slyce as its chief technology officer.
5 min read · 21 October 2014
Retailcommon Inc, a Toronto-based social shopping network, has obtained $2 million in a Series A financing. The round's investors join an existing group of backers, including Michael Emory, president and CEO of Allied Properties REIT, Richard Hamm, CEO of Bristol Gate Capital, Blake Loveless, managing principal at MeyerBergman Funds, and Peter Sharpe, former president and CEO of Cadillac Fairview Corp. Founded in 2008, Retailcommon helps retailers connect with the mobile devices of their customers. The company announced it will next month launch its platform in the United States.
4 min read · 21 October 2014
