Zendesk Inc (NYSE: ZEN) has acquired Smooch Technologies Holdings ULC, a Montréal-based messaging platform for enterprise software makers. No financial terms were disclosed. Spun out of Radialpoint in 2015 by CEO Warren Levitan, Chairman Hamnett Hill and CTO Mike Gozzo, Smooch provides technology that helps deliver omnichannel conversations between customers and brands over any messaging channel. In 2016, Smooch raised $10 million in a seed-stage financing led by Real Ventures and Inovia Capital and joined by TA Associates. Zendesk, a San Francisco-based customer service and engagement platform, said its combination with Smooch will "drive the next wave of connected conversations on a variety of messaging channels."
5 min read · 22 May 2019
Natural Partners Fullscript (NPFS), a nutraceutical prescribing platform based in Scottsdale, Arizona and Ottawa, has raised US$25 million ($34 million) in a Series B financing. The round was led by Kayne Partners, the growth equity affiliate of U.S. alternative investment firm Kayne Anderson Capital Advisors. NPFS said the proceeds will be used to scale Fullscript, which enables healthcare practitioners to dispense nutritional supplements to their patients through an e-prescribing platform. NPFS was created in 2018 with the merger of U.S.-based Natural Partners and Canada's Fullscript. It is led by CEO Fran Towey and President and CRO Kyle Braatz.
4 min read · 21 May 2019
Natural Partners Fullscript (NPFS), a nutraceutical prescribing platform based in Scottsdale, Arizona and Ottawa, has raised US$25 million ($34 million) in a Series B financing. The round was led by Kayne Partners, the growth equity affiliate of U.S. alternative investment firm Kayne Anderson Capital Advisors. NPFS said the proceeds will be used to scale Fullscript, which enables healthcare practitioners to dispense nutritional supplements to their patients through an e-prescribing platform. NPFS was created in 2018 with the merger of U.S.-based Natural Partners and Canada's Fullscript. It is led by CEO Fran Towey and President and CRO Kyle Braatz.
4 min read · 21 May 2019
Senso.ai, a Toronto-based financial technology artificial intelligence (AI) platform, has raised $1.5 million in a seed-stage financing. The round was led by U.S. venture capital firm Breakaway Growth Fund (BGF), with participation from NEXT Canada and Techstars. Founded in 2017 by CEO Saroop Bharwani and CTO Nick Seelert, Senso.ai provides financial institutions with a cloud-based infrastructure to generate predictive insights about consumer portfolios. Its solutions are being leveraged by Canadian institutions, including RBC. Senso.ai said the round's proceeds will support product development and expansion in the U.S. market.
4 min read · 21 May 2019
Senso.ai, a Toronto-based financial technology artificial intelligence (AI) platform, has raised $1.5 million in a seed-stage financing. The round was led by U.S. venture capital firm Breakaway Growth Fund (BGF), with participation from NEXT Canada and Techstars. Founded in 2017 by CEO Saroop Bharwani and CTO Nick Seelert, Senso.ai provides financial institutions with a cloud-based infrastructure to generate predictive insights about consumer portfolios. Its solutions are being leveraged by Canadian institutions, including RBC. Senso.ai said the round's proceeds will support product development and expansion in the U.S. market.
4 min read · 21 May 2019
IBS Software has agreed to acquire AD OPT, a Montréal-based provider of airline crew planning optimization software solutions. Terms weren't released for the deal, which IBS described as a "multi-million dollar acquisition." The seller is Kronos Inc, which acquired AD OPT in 2004. Kronos, a U.S. workforce management software and services company, is owned by Hellman & Friedman. IBS, an Indian software company focused on the travel, hospitality, logistics and oil and gas sectors, said the purchase will make it a top technology provider to the aviation industry. IBS is backed by U.S. private equity firm Blackstone Group, which acquired a minority stake in 2015.
4 min read · 21 May 2019
Broadridge Financial Solutions Inc (NYSE: BR) has agreed to acquire RPM Technologies, a Toronto-based provider of enterprise wealth management software solutions and services. Broadridge agreed to pay about $404 million (US$300 million). The sellers include Bayshore Capital, a Canadian real estate, financial services and technology private equity firm. Led by President and CEO Dave Poppleton, RPM currently supports more than 15 million customer accounts. Broadridge, a U.S. financial technology company, said the acquisition will enhance its wealth management product offering in Canada.
4 min read · 21 May 2019
Velofix, a Vancouver-based full-service mobile bike shop operator, has secured undisclosed financing from a fund managed by Canadian growth equity firm MacKinnon, Bennett & Co (MKB). Launched in 2013 by CEO Chris Guillemet, President Davide Xausa and Vice President Boris Martin, Velofix has since expanded through franchising. The round's proceeds will be used by the company for expanding across North America, enhancing its technology and scaling its marketing activity. Last year, MKB raised more than $50 million for MKB Partners Fund LP to invest in the clean energy, smart city and transportation sectors.
3 min read · 21 May 2019
Velofix, a Vancouver-based full-service mobile bike shop operator, has secured undisclosed financing from a fund managed by Canadian growth equity firm MacKinnon, Bennett & Co (MKB). Launched in 2013 by CEO Chris Guillemet, President Davide Xausa and Vice President Boris Martin, Velofix has since expanded through franchising. The round's proceeds will be used by the company for expanding across North America, enhancing its technology and scaling its marketing activity. Last year, MKB raised more than $50 million for MKB Partners Fund LP to invest in the clean energy, smart city and transportation sectors.
3 min read · 21 May 2019
CBRE Caledon Capital Management and CapMan Infra have agreed to jointly acquire Norwegian ferry and express boat operator Norled AS. Terms weren't released for the deal, which is expected to close next month. The seller is Det Stavangerske Dampskibsselskab. Founded in 1855, Norled operates a fleet of 59 ferries and 28 express boats that transport more than 17 million passengers and 9 million cars annually. CBRE Caledon, a Toronto-based infrastructure and private equity manager, said the deal is the first by its London office, opened last year. CBRE Caledon was formed in 2017 with CBRE Group’s acquisition of a majority stake in Caledon Capital Management.
4 min read · 21 May 2019
