Lightspeed POS, a Montréal-based point-of-sale software solution for retailers and restaurateurs, has appointed Patrick Pichette to its board. Pichette, a former CFO at Google, has been a general partner at Canadian venture capital firm iNovia Capital since April 2018. INovia is a longtime backer of Lightspeed, joining last year's Series D financing, which raised about $207 million (US$166 million). The company's other new board members are Tandem International's Marie-Josée Lamothe, Rob Williams, formerly of Amazon, and Paul McFeeters, formerly of OpenText.
3 min read · 12 November 2018
Lightspeed POS, a Montréal-based point-of-sale software solution for retailers and restaurateurs, is gearing up for an initial public offering (IPO), according to a report by the Globe and Mail. The company selected Bank of Montreal and National Bank of Canada to co-lead an IPO on the Toronto Stock Exchange, the report said. Sources told the Globe and Mail that Lightspeed intends to raise at least $200 million and is hoping to achieve a valuation of more than $1 billion. Founded in 2005 by CEO Dax Dasilva, Lightspeed last year raised about $207 million (US$166 million) in a Series D financing led by Caisse de dépôt et placement du Québec.
1 min read · 12 November 2018
Clearbanc, a Toronto-based provider of marketing capital for e-commerce brands, has raised about $92 million (US$70 million) in financing. The round was backed by Emergence Capital, Social Capital, CoVenture, Founders Fund, 8VC, iNovia Capital, Real Ventures, Portag3 Ventures, Precursor, WTI, Berggruen and FJ Labs. Clearbanc provides pre-revenue e-commerce businesses with $5,000 to $10 million-plus in marketing capital without personal guarantees, warrants, equity or credit checks. It has already funded more than 500 companies with over $100 million. Clearbanc was founded in 2015 by CEO Andrew D'Souza and President Michele Romanow, both serial entrepreneurs and angel investors.
4 min read · 12 November 2018
4 min read · 09 November 2018
Rna Diagnostics Inc, a Toronto-based cancer therapy guidance platform, has raised $5 million in a Series A financing. The round was led by Canadian early-stage venture capital firm iGan Partners. It was joined by undisclosed new and existing investors. Founded in 2010, Rna Diagnostics’ first product is the RNA Disruption Assay, a diagnostic test that helps physicians to rapidly assess how patients are responding to cancer treatments. President and CEO Jeremy Bridge-Cook said the funds raised will support the technology's clinical trial in primary breast cancer as well as commercialization initiatives. Bridge-Cook formerly served as an investment manager with MDS Capital Corp.
2 min read · 09 November 2018
C&V Portable Accommodations Ltd has sold the assets of its custom manufacturing division to an affiliate of Horizon North Logistics Inc (TSX: HNL), a Calgary-based provider of industrial services and modular construction solutions. Terms weren't disclosed. C&V, a Calgary-based supplier of portable accommodations to the energy and infrastructure sectors, was acquired in 2012 by Signal Hill Equity Partners, a Canadian mid-market private equity firm. Signal Hill Managing Partner James Johnson, who is also C&V's chairman, said the unit sale will strengthen the company's balance sheet and support its growth in Western Canada.
2 min read · 09 November 2018
Chicago-based insurance brokerage Hub International Ltd has acquired the assets of Kuokoa Enterprises Inc, an Edmonton-based provider of commercial lines insurance solutions. No financial terms were disclosed. As a result, Dave Douglas, the owner of Kuokoa, will join Hub Barton, Hub's affiliate in Chilliwack, British Columbia. Last month, Canadian long-term private equity firm Altas Partners agreed to acquire a minority stake in Hub, a portfolio company of Hellman & Friedman.
2 min read · 09 November 2018
Dialogue Technologies has acquired DXA, a Montréal-based artificial intelligence-enabled medical technology platform. Terms weren't disclosed. Founded in 2015, DXA developed a tool for automating triage, medical charting and diagnosis. It can be used in most provider-patient interactions, from primary care to chronic and specialized care. Dialogue said the technology complements its virtual care and telemedicine offering and will allow it to explore new partnerships with healthcare providers and insurers. Earlier this year, Montréal-based Dialogue closed a $12 million Series A financing led by White Star Capital.
3 min read · 09 November 2018
Aerial Technologies, a Montréal-based wireless motion analytics software platform, has secured about $3.9 million (US$3 million) in follow-on financing. The round was led by Intel Capital. It was joined by Fonds Innovexport, which co-led Aerial's seed financing in 2017, as well as Kibo Ventures and Telefónica Open Innovation. Founded in 2015 by CEO David Grant, CTO Michel Allegue and VP Engineering François Morel, Aerial's technology leverages wireless infrastructure and machine learning to detect presence and motion in the home and other venues. The company, incubated and backed by TandemLaunch, will use the funds raised to add new functionalities, advance its IP portfolio, and hire more talent.
4 min read · 08 November 2018
Canadian mid-market private equity firm TorQuest Partners has invested in Cando Rail Services Ltd, a Brandon, Manitoba-based provider of specialized rail support services. No financial terms were released. Founded in 1978 by Gord Peters and Rick Hammond, Cando provides a range of rail services that help industrial customers optimize bulk material supply chains and connect to Class 1 railways.
3 min read · 08 November 2018
