Canadian cybersecurity platform eSentire Inc has secured about $27 million (US$19.5 million) in financing. The round was led by U.S. venture capital firm Edison Partners and Canada's Georgian Partners, which led eSentire's $14 million Series C financing in 2014. Cisco Investments, Northleaf Ventures Catalyst Fund and Information Venture Partners also participated. Cambridge, Ontario-based eSentire plans to use the funds to scale its market presence, launch security operations in new geographies and verticals, and build on its growth in the cloud-based threat intelligence space. Last year, the company opened its European headquarters. It said it will expand in the region over the next five years.
5 min read · 03 February 2016
Low energy prices will help accelerate Canadian merger and acquisition activity in 2016, according to a new report by Citi in partnership with Mergermarket. A Mergermarket survey of 50 Canadian senior executives found 70 percent of respondents believe the appetite for deals will rise in the months ahead. The biggest increases are expected in domestic and inbound deals. Along with weak commodity prices, a primary driver of Canadian M&A activity will be private equity demand, which is expected to influence both inbound and outbound transactions, the survey found.
3 min read · 02 February 2016
Canadian private equity firm Novacap has invested in Intelerad Medical Systems Inc, a medical imaging company based in Montréal. No financial terms were disclosed. Founded in 1999, Intelerad is a developer of software solutions that manage medical images, workflow and data for hospitals, imaging centres and radiology groups in North America, the United Kingdom and Australia. The investment will allow Intelerad to enhance its operations, engage in strategic growth opportunities, accelerate funding of key research initiatives, and continue building its product portfolio. Novacap made the investment via Novacap TMT IV LP, which raised $375 million in 2014.
3 min read · 02 February 2016
Upsight Inc has acquired Fuse Powered Inc, a mobile supply-side monetization and ad mediation platform based in Toronto. No financial terms were disclosed. San Francisco-based Upsight, an analytics and marketing platform for mobile app businesses, said the combined companies will "enable end-to-end user lifecycle management to maximize lifetime value." With the deal, Fuse Powered CEO Jon Walsh has been appointed president of Upsight. Founded in 2009, Fuse Powered has been backed by Canadian venture capital firm Relay Ventures, NFQ Ventures and other investors. Upsight is also venture-funded, counting Altos Ventures, Battery Ventures and others among its investors.
3 min read · 01 February 2016
CoPower, an online platform for clean energy investments, has issued its first green bond to Canadian investors. CoPower Green Bond I, which is intended to help investors participate in clean energy infrastructure projects in their communities, is accessible at a minimum commitment of $5,000. It is backed by loans to rooftop solar projects in Windsor, Ontario and Chesley, Ontario, and an energy efficiency project at the Harbourfront Centre in Toronto, CoPower said. Last October, CoPower raised $850,000 in seed capital from Innovation Support and RBC.
3 min read · 01 February 2016
Canadian mid-market private equity firm Callisto Capital has changed its name to Clearspring Capital Partners, effective as of the beginning of 2016. Joseph Shlesinger, managing director of Clearspring, said the new name "connotes what we are, in terms of clarity of thought, freshness of approach, Canadian focused, and a true partnership orientation." Toronto-based Clearspring is led by Shlesinger and Managing Director Lawrence Stevenson. Its portfolio companies include Logistik Unicorp, a managed uniform services provider, Medical Pharmacies Group, and Town Shoes, a branded footwear retailer. The firm was founded in 2002.
1 min read · 29 January 2016
Despite current economic uncertainty, over three-quarters of Canadian small and mid-sized enterprises (SMEs) plan to invest in developing their business this year, a new report by the Business Development Bank of Canada (BDC) has found. According to a BDC survey of 4,000 entrepreneurs, SMEs plan to deploy $111 billion to development in 2016, which is comparable to what was invested last year. Investment strategies will focus primarily on growth and raising levels of productivity or efficiency. A minority of SMEs (10 percent) account for the lion's share of planned investments, the survey found.
3 min read · 28 January 2016
Canadian digital content marketing provider ScribbleLive Inc has bought Visually Inc, a San Francisco-based content creation platform that helps businesses to connect with audiences. No financial terms were released. Toronto-based ScribbleLive said the solutions of the two companies will be integrated to create "an all-in-one content marketing platform that marries data science with content creation." The deal also expands ScribbleLive's U.S. presence to Silicon Valley. ScribbleLive has raised more than $60 million in funding, including its Series D round led by OpenText Enterprise Apps Fund last September. Visually was backed by Crosslink Capital and other U.S. venture capital firms.
4 min read · 28 January 2016
Farmers Edge Precision Consulting Inc has received $58 million in follow-on financing. The round was led by existing investors Mitsui & Co Ltd, U.S. venture capital firm Kleiner Perkins Caufield & Byers and Osmington Inc. As a result, Mitsui's Kenji Otake will join the company's board of directors. Winnipeg-based Farmers Edge is a provider of precision agriculture and data management solutions. It plans to use the proceeds of the latest investment to expand the company's data science team, new product development, and growth into South America, Australia and Eastern Europe. Founded in 2005, Farmers Edge is also backed by Canadian venture capital firm Avrio Capital.
5 min read · 27 January 2016
Big Viking Games has bought Gallop Labs, a Toronto-based mobile marketing platform that leverages data and behavioral analytics. The acquisition's value was not disclosed. Big Viking Games, a Canadian developer of free-to-play social and mobile games, said Gallop Labs' "proven track record of turning data into actionable audience insights" will help the company provide more rewarding gameplay experiences. Founded in 2013, Gallop Labs raised seed financing from several venture capital firms, including Golden Venture Partners and Mantella Venture Partners, and angel investors, including Albert Lai, Big Viking Games' Co-Founder and CEO.
2 min read · 27 January 2016
