Private Equity
Inventys, a Vancouver-based carbon technology company, has raised $5 million from BDC’s cleantech practice as well as a follow-on investment from Chevron Technology Ventures. The investments add to the Series C financing raised by Inventys in 2018, bringing the total to about $16 million. The round’s first tranche was led by OGCI Climate Investments. The company said it is planning for a final close of about $21 million before the end of June.
3 min read · 06 February 2019
Roofr, a Toronto-based roofing marketplace, has raised about $5.3 million (US$4 million) in a seed-stage financing. The round was led by Crosslink Capital, with participation from Y Combinator, Ace & Co, Louis Beryl and other angel investors. Launched in 2016 by CEO Richard Nelson, Roofr uses satellite imagery to measure customer roofs and provide a free roofing estimate. It then connect customers with a contractor to inspect, propose and complete the work. The company currently serves locations in California, Florida and Ontario. The funds raised will be used to expand Roofr's regional presence, including in Texas, and grow its engineering, sales and marketing teams.
3 min read · 06 February 2019
Inventys, a Vancouver-based carbon technology company, has raised about $6.6 million (US$5 million) from BDC’s cleantech practice as well as a follow-on investment from Chevron Technology Ventures. The investments add to the Series C financing raised by Inventys in 2018, bringing the total to about $21 million (US$16 million). The round’s first tranche was led by OGCI Climate Investments. The company said it is planning for a final close of about $28 million (US$21 million) before the end of June. The funds raised will help Inventys complete and commercialize a CO₂ capture demonstration plant project with Husky Energy Inc.
4 min read · 06 February 2019
ProNavigator, a Waterloo-based insurance technology company, has closed a seed-stage financing, bringing its total funding to more than $2 million. MaRS Investment Accelerator Fund and GreenSky Capital led the round. They were joined by Innovation Grade Ventures and several angel investors. Founded in 2016 by CEO Joseph D’Souza, ProNavigator provides an artificial intelligence-enabled virtual assistant that helps insurers and agencies automate customer inquiries, supporting increased sales, retention and productivity. The funds raised will be used for enhancing the company's technology and expansion in the U.S. market.
3 min read · 06 February 2019
Redwood City, California-based digital wealth management company Personal Capital has raised US$50 million in a Series E financing. The round was led by IGM Financial Inc, a personal financial services affiliate of Canada's Power Financial Corp. The company will use the funds raised for growth, enhancing its technology and investing in partnerships. Founded in 2009, Personal Capital provides wealth advisory services and online financial tools. It reports having more than US$8.5 billion in managed assets and two million registered users on its platform.
3 min read · 05 February 2019
Framework Venture Partners, a new Canadian venture capital firm, has launched with the first close of its debut fund. Targeted to raise $150 million, FVP I secured undisclosed commitments from BDC Capital, Ontario Teachers' Pension Plan's Cadillac Fairview, RBC and BC Tech Fund, managed by Kensington Capital Partners. The Globe and Mail reports the fund raised an initial $100 million. FVP I will focus on late-stage financings of Canadian business-to-business SaaS companies applying machine learning techniques to industry-specific data sets or reimagining the consumption and delivery of financial services. Based in Toronto and Vancouver, Framework is led by Founding Partners Peter Misek and Andrew Lugsdin, formerly members of BDC IT Venture Fund.
4 min read · 05 February 2019
OMERS Ventures (OV) has hired Anthony Mouchantaf as an associate. Mouchantaf will be responsible for researching and executing on deal opportunities and supporting portfolio companies post-investment. He joins OV from Rthm Technologies, a Toronto-based mobile health and consumer genetics provider. Mouchantaf co-founded the company in 2014 and served as its president. Rthm was acquired in 2018 by Australis Capital, a U.S. cannabis investor. Last week, Venture Capital Journal interviewed OMERS Head of Ventures Damien Steel about OV's global strategy.
4 min read · 04 February 2019
Canopy Rivers has invested $9.4 million in the Canadian parent company of Canapar SrL (Canapar Italy), a Ragusa, Italy-based organic hemp production and processing platform. The deal completes a $17.4 million commitment made by Canopy in December. It increases the investor's stake in Canapar Canada to 49 percent from 35 percent. Founded in 2018, Canapar Italy makes cannabidiol oil and isolates used as an input in health and wellness products. It will use the funds raised to execute on its market strategy in Europe. Canopy is the venture capital arm of Canadian cannabis producer Canopy Growth Corp.
3 min read · 04 February 2019
Export Development Canada (EDC) has invested $1 million in P&P Optica, a Waterloo-based technology company focused on assessing food quality and reducing landfill waste. Led by President and CEO Olga Pawluczyk, P&P Optica has developed a smart imaging system that uses artificial intelligence to provide food processors with in-line visibility over food safety and quality. The funds raised will be used for enhancing the company's technology and deploying it to food processing plants across North America. Last year, P&P Optica secured $3.1 million in financing from Fulcrum Global Capital, a U.S. food technology venture capital firm.
4 min read · 04 February 2019
Better Mortgage, a New York-based digital mortgage lender, has raised US$70 million in a Series C financing. The round's backers included Healthcare of Ontario Pension Plan (HOOPP). It was joined by American Express Ventures and existing investors. Launched in 2016, Better Mortgage has so far funded more than US$2 billion in loans, helping over 7,000 Americans buy or refinance their home. The company's expansion plans for 2019 include new technology investment, team growth and development of partnership channels.
3 min read · 31 January 2019
