Inovia, Caisse de dépôt, IQ invest $51 mln in growth of AlayaCare

AlayaCare, a Toronto- and Montréal-based healthcare software platform, has secured a $51 million investment, $33 million of which is new equity. The investors included Inovia Capital, which led last year's $13.8 million Series B round, as well as Caisse de dépôt et placement du Québec and Investissement Québec. Inovia Capital Growth Fund accounted for the new equity. The remaining $18 million invested purchased stock from early shareholders. Founded in 2014 by CEO Adrian Schauer, AlayaCare provides a secure, cloud-based system that helps home and community care agencies manage all aspects of their business and operations. The deal's proceeds will allow the company to scale and focus on research and development to optimize its technology.