Angel network Anges Québec has made an initial investment in Enterface, a Saint-Jérôme, Québec-based developer of websites, mobile applications, web marketing, visual identity and software for small and medium-sized businesses. No financial terms were released for the deal, which was led by information technology entrepreneur Mario Ianniciello. Enterface, founded in 2014, plans to use the funds raised for a more "ambitious" growth and development strategy, CEO Mathieu Tousignant said.
2 min read · 13 November 2017
SpherePlay, a Montréal-based developer of media player software and video rendering engines, has raised $1.26 million in funding. The round was backed by 16 members of Québec angel network Anges Québec, Anges Québec Capital Fund and BDC Capital. SpherePlay has created a multi-platform solution that allows broadcasters and media companies to distribute virtual reality content on their own platforms. Launched in 2014 by CEO Christian Eve-Lévesque and CTO Stéphane Lévesque, the company will use the funds raised to continue optimizing its product and accelerate deployment.
4 min read · 10 November 2017
Knowlton Development Corp (KDC) has acquired Aromair Fine Fragrance Company Inc, a New Albany, Ohio-based manufacturer and supplier specializing in the fine fragrance and home and air care categories. No financial terms were disclosed. KDC acquired the business from Aromair Group, a portfolio company of U.S. private equity firm Strategic Value Partners (SVPGlobal). SVPGlobal invested in 2011. Based in Longueuil, Québec, KDC is a contract manufacturer for the personal care products industry. The Aromair acquisition is one of several completed by the company since 2014 with the support of its owner, Canadian private equity firm Novacap.
3 min read · 10 November 2017
Neo Performance Materials, an advanced-materials supplier that emerged from bankruptcy in 2016, priced its recently filed initial public offering in Canada. The Toronto company is looking to raise $345 million by selling common shares at $19 to $22 per unit, the updated prospectus shows. The issue’s greenshoe option, if fully exercised, would bring the total raised to $345 million. All proceeds from the IPO will go to Neo Performance’s majority owner, Los Angeles distressed investor Oaktree Capital Management. This suggests Oaktree will likely reclaim a sizeable portion of the investment it made when it took control of the company a little over a year ago.
2 min read · 10 November 2017
3 min read · 10 November 2017
Deloitte announced the winners of its 2017 Technology Fast 50 program, which together showed an average four-year growth rate of 4,625 percent, up 74 percent from 2016. The list was led by Diply, a social entertainment media publisher, which achieved a growth rate of 92,881 percent. A survey of the winners found that sourcing talent was the top challenge. It also found that over half of Fast 50 employees are millennials and that women account for an increased share of new hires. Fast 50 respondents said they continue to emphasize artificial intelligence technologies, while 62 percent felt capital availability has improved of late.
5 min read · 09 November 2017
Toronto security startup studio Peloton Innovations has raised C$3 million in a seed-stage financing. The round was led by Elevate Toronto CEO Razor Suleman, Globalive Capital and TD Ameritrade CEO Tim Hockey. Peloton is focused on creating B2B and B2C products and services used in the protection industry. The funds raised will support the company’s spin out of a first security startup in early 2018. Launched last year, Peloton is majority owned by Craig Campbell, founder and CEO of Resilience Capital. Peloton’s other backers include Klass Capital and Purpose Investments CEO Som Seif.
2 min read · 09 November 2017
Toronto security startup studio Peloton Innovations has raised $3 million in a seed-stage financing. The round was led by Elevate Toronto CEO Razor Suleman, Globalive Capital and TD Ameritrade CEO Tim Hockey. Peloton is focused on creating B2B and B2C products and services used in the protection industry. The funds raised will support the company's spin out of a first security startup in early 2018. Launched last year, Peloton is majority owned by Craig Campbell, founder and CEO of Resilience Capital. Peloton's other backers include Klass Capital and Purpose Investments CEO Som Seif.
2 min read · 09 November 2017
TIMIA Capital Corp has provided a funding facility of $1.35 million to Realty Butler Technology Inc, a Vancouver-based artificial intelligence-powered marketing service for real estate agents. TIMIA, a Canadian revenue financing firm, will invest in two tranches over the next 12 months, as the company achieves certain milestones. Founded three years ago by CEO Chris Troelstra and COO Rebecca Troelstra, Realty Butler is also backed by Canadian venture capital firms Conconi Growth Partners and Pallasite Ventures. TIMIA's investment comes on the heels of its $2 million revenue funding deal with Rise People Inc.
3 min read · 09 November 2017
Toronto cancer diagnostic company GeneNews Ltd (TSX: GEN) has struck a deal to receive up to US$10 million in debt and equity funding from Milost Global, a U.S. private equity firm. Beginning with an initial equity tranche of US$500,000, GeneNews plans to use the funds raised for working capital and other priorities, including the growth strategy for its Innovative Diagnostic Laboratory clinical reference lab business in Richmond, Virginia. Founded in 1998, GeneNews' focus on diagnostics and personalized medicine also supports early detection of other chronic diseases. The company is led by Chairman and CEO James Howard-Tripp.
5 min read · 09 November 2017
