Whitby, Ontario-based cloud incentives software platform 360insights has secured $30 million in growth equity funding. U.S. private investment firm Sageview Capital led the round and was joined by the company's existing investors, which include OMERS Ventures, Klass Capital, Leaders Fund and Export Development Canada. As a result, Sageview Partner Dean Nelson has joined the board of directors. Founded in 2008 by CEO Jason Atkins, 360insights is focused on helping brands to optimize their partner marketing and consumer incentive spend. It will use the funds raised to strengthen its technology and pursue new market opportunities.
3 min read · 19 October 2016
KodaCloud Inc announced it has come out of stealth and closed a Series A financing. No financial terms were released; however, one of the round's investors, Canadian venture capital firm Celtic House Venture Partners, confirmed the round's value as US$10 million. Celtic House, which has backed KodaCloud since an initial investment in 2013, was joined in the Series A round by Comcast Ventures and Voyager Capital. Campbell, California-based KodaCloud provides cloud service Wi-Fi powered by artificial intelligence that helps reduce cost and network complexities for enterprise customers. It has an office in Ottawa.
5 min read · 18 October 2016
Specified Air Solutions, a portfolio company of U.S. private equity firm the Sterling Group, has acquired Dectron Inc, a Montréal-based provider of dehumidification, air quality and energy recovery solutions primarily for indoor pools. No financial terms were released. The deal was first announced in August. Axxel Inc was the M&A adviser to Dectron. Specified Air, a manufacturer of heating, ventilation and air conditioning equipment, is based in Buffalo, New York. Formerly Roberts-Gordon LLC, the company was acquired by Sterling Group in July 2014.
2 min read · 18 October 2016
The Canadian affiliate of Drive DeVilbiss Healthcare has acquired the mobility and bathroom safety brand business of AMG Medical, a Montréal maker of home healthcare and medical professional products. No financial terms were disclosed. The brands, Hugo, Profilio, AquaSense and Airgo, are distributed to wholesalers, pharmacies and home care dealers across Canada. Drive DeVilbiss, a U.S. manufacturer of medical products, said the deal will enhance its portfolio and market position in Canada. In August, Drive DeVilbiss agreed to receive an undisclosed investment from U.S. private equity firm Clayton, Dubilier & Rice.
3 min read · 18 October 2016
The Business Development Bank of Canada (BDC) has developed a benchmarking tool to help Canadian small and medium-sized enterprises (SMEs) compare themselves against industry peers and identify new ways to improve their productivity. The tool, developed in collaboration with Statistics Canada, was launched following a new BDC study that found just 6 percent of SMEs in Canada comprehensively measure and benchmark their productivity. That's despite the fact that eight in 10 entrepreneurs view such measures as important.
4 min read · 18 October 2016
Ortho Regenerative Technologies Inc (Ortho RTI) has appointed Dr. Brent Norton as its executive chairman and acting CEO. He succeeds Edward Margerrison, who is leaving for a new position. Norton joins Ortho RTI from Canadian life sciences venture capital firm Lumira Capital, where he served as a venture partner. He also worked as a senior executive and director for several life sciences companies. Kirkland, Québec's Ortho RTI is a developer of technology products that treat unmet needs in the orthopaedic market.
3 min read · 18 October 2016
Britain's SVG Capital agreed to sell its investment portfolio to HarbourVest for about US$991 million after the private equity firm elbowed out a Goldman Sachs Group-led consortium with a sweetened offer, Reuters reported. The firm had previously accepted an offer of about US$950 million from Goldman Sachs and the Canada Pension Plan Investment Board for the portfolio.
2 min read · 18 October 2016
Metamarkets, a U.S. provider of interactive analytics for programmatic marketing, has secured a credit facility of US$14.25 million. The deal was led by Canadian specialty finance firm Wellington Financial and joined by City National Bank. Metamarkets said the funds raised will help expand its engineering team and facilitate additional investment in its real-time data processing infrastructure. Founded in 2010, San Francisco-based Metamarkets is backed by several U.S. venture capital firms, including Khosla Ventures, Data Collective, IA Ventures, Village Ventures, True Ventures and Founder Collective.
3 min read · 18 October 2016
Ontario Teachers' Pension Plan (OTPP) has appointed Nicole Musicco as senior vice-president, public equities, effective as of January 1, 2017. Musicco is currently regional managing director, Asia Pacific, overseeing OTPP's investment activity in the region. She joined the Canadian pension fund in 2002 and served as vice-president in its private equity group, Teachers' Private Capital. Musicco played a key role in establishing OTPP's Hong Kong office in 2013.
2 min read · 18 October 2016
Employee communications software company PostBeyond Inc has raised $750,000 from Canadian venture capital firm Plaza Ventures, bringing the company's previously announced Series A financing to $4.75 million. Plaza joins Information Venture Partners and Export Development Canada in closing the round. PostBeyond, which helps employees to share corporate content on social media, said the proceeds would be used in part to open a new office in Toronto, as well as two new offices overseas. The company was founded three years ago by CEO Ivan Tsarynny and CTO Vitaliy Lim.
3 min read · 18 October 2016
