2 min read · 02 May 2019
Toronto-based property technology company ParityGo Inc has secured $5 million in a Series A financing. The round was led by Canadian clean technology venture capital firm ArcTern Ventures. Parity has developed an energy management system that controls existing heating, ventilation and air conditioning equipment using cloud-based artificial intelligence. The system enables energy savings for condos and other multi-residential buildings. Founded in 2015 by CEO Brad Pilgrim and COO Brian MacLeod, Parity will use the funds raised to expand into the U.S. market. Parity is the first deal of ArcTern Ventures Fund II, which last October raised an initial $60 million.
4 min read · 02 May 2019
Kensington Private Equity Fund has led a recapitalization of Agnora Ltd, a Collingwood, Ontario-based fabricator of oversized architectural glass. Terms weren't disclosed for the deal, which saw Kensington partner with the company's management and co-investors. Founded in 2011 by President Richard Wilson and Vice President, Administration Laura Wilson, Agnora operates a 225,000-square foot production facility that makes oversized architectural glass for high-end retail, commercial, institutional and residential applications in North America. The partnership with Kensington will support Agnora's growth. The Kensington fund is managed by Kensington Capital Partners, a Canadian alternative investments firm.
2 min read · 02 May 2019
Locketgo, a Montréal-based provider of temporary storage solutions, has raised $1.2 million in a seed-stage financing. The round's Canadian investors included Anges Québec, CH Group, Maple Leaf Angels, Real Ventures and Jeffrey Kadanoff. Founded in 2016 by CEO Gabrielle La Rue, Locketgo offers a turnkey rental service of secure, intelligent lockers for events, such as concerts, conventions and festivals, as well as permanent installations. The startup, a graduate of accelerators Centech and FounderFuel, will use the round's proceeds to expand across the North American market, grow its team and continue research and development.
2 min read · 02 May 2019
Webware.io, a Toronto-based digital toolkit for small businesses, has raised $2 million in financing from a group of investors. The group was led by Moss Kadey, a Canadian entrepreneur and CEO of Mossco Capital. Other investors included the founders of Gluskin Sheff + Associates Inc, a Toronto-based wealth manager that earlier this year agreed to be acquired by Onex Corp. Founded in 2015 by CEO Cory York and CTO Indrajit Chowdhury, Webware.io helps small businesses develop a digital presence, from building websites and online stores to SEO marketing services and creating loyalty programs. The funds raised will be used to support the company's growth.
3 min read · 02 May 2019
Kobalt Security, a Vancouver-based cybersecurity company, has raised an undisclosed investment from Canadian early-stage venture capital firm Version One Ventures. The investment was part of a financing led by two of Kobalt's co-founders, Pankaj Agarwal and Boris Wertz, Version One's founding partner. BetaKit reports the round's total value at $1 million. Launched in 2018 and led by CEO Michael Argast, Kobalt is focused on bringing cybersecurity monitoring-as-a-service to small and mid-sized organizations. Kobalt is Version One's first cybersecurity deal and the first startup the investor has helped incubate.
3 min read · 01 May 2019
Hansen Technologies has agreed to acquire Sigma Systems, a Toronto-based provider of catalog-driven software solutions for communications, media and technology companies. In a separate release, Hansen, an Australian billing, data management and customer care company, said the deal values Sigma at $157 million. It is expected to close this month. Founded in 1996 and led by President and CEO Tim Spencer, Sigma serves more than 80 customers in 40 countries. Hansen said the acquisition will enhance its value proposition in the telecommunications, Pay-TV and energy verticals. Sigma is majority owned by Canadian mid-market private equity firm Birch Hill Equity Partners. Birch Hill invested in 2015.
4 min read · 01 May 2019
Canadian women-focused venture firm Disruption Ventures cut its first cheque, backing a startup that serves the fast-emerging vacation-rentals sector. Disruption invested in the US$1 million seed round of Hostfully, a San Francisco software provider that helps rental-property managers streamline operations and engage with guests. Disruption Managing Partner Elaine Kunda said Hostfully matches the type of woman-founded startup her firm is looking to back. Kunda in 2018 launched Disruption to invest up to $1 million in North American early-stage tech companies founded and managed by female entrepreneurs. A second deal, this one located in Canada, is in the offing, Kunda said.
3 min read · 01 May 2019
Digital Colony, a U.S. digital infrastructure private equity firm, has closed its acquisition of Cogeco Peer 1, a Toronto-based provider of colocation, network connectivity and managed services. The deal, announced in February, was valued at $720 million. The seller was Cogeco Communications Inc (TSX: CCA). Cogeco Peer 1, led by CEO Susan Bowen, will now operate as a standalone business with headquarters in Toronto, focused on neutral-host digital infrastructure solutions. Cogeco Communications formed Cogeco Peer 1 following its 2013 acquisition of PEER 1 Network Enterprises Inc from Canadian mid-market private equity firm Clairvest Group.
3 min read · 01 May 2019
Athletica Sport Systems Inc has acquired Becker Arena Products Inc, a Shakopee, Minnesota-based provider of dasher board systems and arena aftermarket products targeting entertainment facilities in the United States. No financial terms were disclosed. Based in Waterloo, Ontario, Athletica designs, makes, installs and services dasher board systems for hockey arenas and multi-sport facilities. The company said the acquisition, which follows last year's purchase of Cascadia Sport Systems Inc, will complete its North American footprint. Athletica was acquired in 2018 by Canadian mid-market private equity firm Fulcrum Capital Partners.
3 min read · 01 May 2019
