Trellis Solutions Inc, a Canadian cannabis inventory management software provider, has raised about $2.5 million (US$2 million) in funding. The round was led by Casa Verde Capital, the venture capital firm of U.S. rapper Snoop Dogg. Additional funding was provided by cannabis incubator Gateway, an existing investor, as well as Argonautic Ventures, One Gun and others. Founded in 2014 by CEO Pranav Sood, Toronto-based Trellis leverages technology to help cannabis enterprises optimize operations and comply with regulations. It said it will use the funds raised to expand in the United States and scale to accommodate demand for its software.
4 min read · 28 September 2017
Canadian steel company Stelco Inc has filed a preliminary prospectus with domestic securities regulatory authorities for an initial public offering of its common shares. The IPO, which has not yet been priced, contemplates a treasury offering. The proceeds will be used for investments in new products and Stelco's production capabilities, pre-payments of certain future benefit obligations, and other priorities. Goldman Sachs & Co LLC and BMO Capital Markets are acting as joint bookrunners. Hamilton, Ontario-based Stelco earlier this year emerged from creditor protection and closed a restructuring deal with U.S. private equity firm Bedrock Industries Group.
3 min read · 27 September 2017
Merchant Advance Capital has partnered with Garron Helman, a financing and tax expert, in the launch of Venbridge, a source of venture debt and consulting services to small and medium-sized enterprises in Canada. Venbridge will offer venture debt, consulting services, digital media financing and revenue financing to software-as-a-service companies, and corporate tax financing to all companies. Merchant Advance Capital, a Canadian online small business finance firm, will provide the funding source and staffing for Venbridge.
3 min read · 27 September 2017
Picniic, a Canadian family assistance technology platform, has secured $2 million in funding, a spokesperson for the company told PE Hub. The investor was Telenor Group, a Norwegian mobile telecommunications business, the source said. Founded last year by CEO Michael Cole and CTO Ivan Tung, Vancouver-based Picniic has created an operating system that helps family households become more organized, productive and connected.
1 min read · 27 September 2017
Canadian private equity firm Novacap has sold Broadband One LLC, which does business as Host.net, to 365 Data Centers, a U.S. provider of hybrid data centre solutions. No financial terms were disclosed. Based in Boca Raton, Florida, Host.net provides managed network infrastructure services. Novacap invested in the business in 2013 and acquired additional interest subsequently. 365 said the deal provides it with additional facilities, assets, and a significant enterprise customer base. Norwalk, Connecticut-based 365 was acquired earlier this year by Chirisa Holdings, Lumerity Capital and Longboat Advisors.
4 min read · 27 September 2017
Zoom.ai, which earlier this year closed a seed-stage financing, has acquired SimplyInsight, a San Francisco-based automated data analysis and visualization company. No financial terms were released. Zoom.ai, a Toronto-based developer of an automated virtual assistant for the workplace, said the integration of SimplyInsight's data-querying technology with its platform will support increased employees' efficiency. Zoom.ai's $2.1 million seed round was led by Extreme Venture Partners and joined by BDC Capital, Betaworks NYC, Good News Venture Partners, MaRS IAF and other investors.
3 min read · 27 September 2017
Toronto-based digital health company Analytics 4 Life has secured $25 million in a Series B financing. The round was backed by a syndicate of undisclosed accredited investors, including physicians, healthcare professionals and medical device experts. Founded in 2012, Analytics 4 Life is using artificial intelligence to advance a novel, radiation-free and exercise-free cardiac imaging technology intended to improve existing care pathways. The first application, CorVista, tests the presence of coronary artery disease. Analytics 4 Life, which has its U.S. headquarters in North Carolina's Research Triangle Park, is led by President and CEO Don Crawford.
4 min read · 27 September 2017
Klue, a Vancouver provider of competitive intelligence for enterprise sales, has launched with the close of a $5 million financing. OMERS Ventures led and was joined by BDC Capital, Vancouver Founder Fund, SK Ventures and angel investors, including Hootsuite's Ryan Holmes, Foundation Capital's Jonathan Ehrlich and Daniel Debow, previously an executive with Salesforce. Founded in 2015 by CEO Jason Smith and CTO Sarathy Naicker, Klue's technology helps teams in B2B enterprises collect, curate and distribute external and internal content relevant to sales and competitiveness. Smith is the former president of Vision Critical.
3 min read · 27 September 2017
Personify, a portfolio company of U.S. private equity firm Rubicon Technology Partners, has acquired Wild Apricot, a Toronto-based membership management software provider focused on small associations, clubs and non-profits. No financial terms were disclosed. Personify, a U.S. software provider to member-focused groups, said it will serve more than 30,000 organizations and 75 million members as a result of the deal. Founded in 2001, Wild Apricot has been led CEO Dmitry Buterin. Rubicon, an investor in enterprise software companies, has backed Austin, Texas-based Personify since 2013.
3 min read · 27 September 2017
Toronto-based restaurant app Ritual Technologies Inc has raised about $53.8 million (US$43.5 million) in a Series B financing, according to a report by the Wall Street Journal. The round was led by U.S. venture capital firm Insight Venture Partners, the report said. The startup's other backers include Canadian venture capital firms Golden Venture Partners, Mantella Venture Partners and Mistral Venture Partners, as well as U.S. firm Greylock Partners, according to Crunchbase. Founded in 2014 by CEO Ray Reddy, Ritual offers a mobile order-and-pay platform that enables users to secure coffee and food orders quickly and easily. It will use the funds raised to add staff and further expand into the U.S. market.
1 min read · 27 September 2017
