Avigilon Corp (TSX: AVO) has appointed Mahesh Saptharishi as its new chief technology officer (CTO). Saptharishi has more than 17 years of experience developing intelligent video analytics technology as well as software and camera hardware for the security industry. He has been Avigilon's senior vice president, analytics and data science since the company acquired VideoIQ Inc in early 2014. The Vancouver-based Avigilon is a portfolio investment of British Columbia Discovery Fund (VCC), a retail venture capital fund managed by Discovery Capital Management Corp. It went public in 2011.
5 min read · 25 September 2014
Apptentive has completed its $5.3 million Series A fundraising round. U.S. online survey company SurveyMonkey and Origin Ventures led the deal. They were joined by the company's existing investors, including Golden Venture Partners, a Canadian mobile-focused venture capital firm, and Founders Co-op. Based in Seattle, Washington, Apptentive is an enterprise SaaS software platform. It plans to use the funds to expand its suite of in-app customer communication tools and accelerate its sales, marketing and product development activities.
4 min read · 25 September 2014
StackAdapt, developer of a native advertising technology that helps publishers add another channel of monetization through non-banner advertising, has closed a $900,000 seed-stage financing round. Investors included MaRS Investment Accelerator Fund, Slaight Communications and the Business Development Bank of Canada (BDC), which provided debt to the round. StackAdapt said the funds would be used to fuel further growth and expansion of the development team in its Toronto headquarters, and to support the growth of satellite offices in New York and London. The company was founded in 2013.
3 min read · 25 September 2014
Canadian mobile-focused venture capital firm Relay Ventures has invested $1 million in the Imagination Catalyst Fund, which forms part of the OCAD University's Imagination Catalyst, a hub for campus-focused entrepreneurship and commercialization. The investment occurred concurrently with a $950,000 grant by Ontario’s Ministry of Research and Innovation. Relay managing partner John Albright said that the firm is a strong supporter of entrepreneurs emerging from Canadian universities, and "our investment in the Imagination Catalyst Fund is a logical extension of our focus in that area.”
4 min read · 25 September 2014
Xenon Pharmaceuticals Inc, a Canadian genetic therapy discovery platform, recently filed for an initial public offering with the U.S. Securities and Exchange Commission, reports Renaissance Capital LLC. The company, which is based in Burnaby, British Columbia, seeks to raise US$52 million through a listing on NASDAQ. It has received funding from a mix of Canadian and U.S. venture capital firms since 2000.
1 min read · 25 September 2014
Golden Opportunities Fund has acquired more common shares in West Mountain Environmental Corp (TSXV: WMT), increasing its ownership to around 24.1 percent of the company's total issued and outstanding shares. The interest was bought from Grant Kook, a director of West Mountain and president and CEO of Canadian private equity and venture capital firm Westcap Management, which manages Golden Opportunities. Based in St. John's, Newfoundland, West Mountain is an environmental products company specializing in the thermal treatment of a variety of hazardous and non-hazardous waste streams.
3 min read · 24 September 2014
Alberta Enterprise Corp has named interim managing director Kristina Williams as the organization's new president and CEO. Williams, who has served with Alberta Enterprise for the last five years, previously worked in a variety of capacities at a number of technology companies. Founded in 2008, Alberta Enterprise is a $100 million fund-of-funds manager that is focused on building the provincial venture capital industry. To date, it has committed $90 million to seven venture capital funds and the Accelerate Fund LP, an angel co-investment fund, and has helped to leverage $765 million of additional investments.
3 min read · 23 September 2014
A new report by Clean Energy Canada said that the federal government is not doing enough to promote Canada’s transition to an energy-efficient, ecologically responsible and prosperous low-carbon economy. Tracking the Energy Revolution, published to coincide with the UN Global Climate Summit, estimates that US$207 billion was invested in clean energy projects worldwide in 2013, with China leading this activity. Canada last year had the second-fastest growing clean energy market in the G20, with investments totaling US$6.5 billion, however, "that success has come without benefit of significant federal policy support," the report said.
3 min read · 23 September 2014
Canadian media and entertainment company Corus Entertainment Inc has led the US$12 million Series C financing of KIN, a lifestyle-focused digital media specialist based in Santa Monica, California. Also participating in the round was Emil Capital and existing U.S. investors Mayfield Fund, General Catalyst Partners and Rustic Canyon Partners. KIN, which owns the female-focused lifestyle network KIN Community, will use the funding for talent acquisition and support, expansion of its advertising sales team, original programming and new development opportunities. Concurrent with the deal, the company launched KIN Canada in partnership with Corus.
4 min read · 22 September 2014
Interactive Validation Solutions 88 Inc, the maker of Pivot 88 manufacturing software, has obtained $1.25 million in financing. Pierre Chardi and seven other members of Anges Québec contributed to the deal, as did the Centre local de développement de Laval (CLD de Laval). Based in Laval, Québec, Interactive Validation Solutions 88's platform is designed to help save time and money in the manufacturing ordering process. Investment proceeds will facilitate the company's product marketing and growth in foreign markets. Anges Québec manages a network of 155 investors that has to date backed 51 early-stage companies.
3 min read · 22 September 2014
