The Business Development Bank of Canada related stories
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Venture-backed Procurify acquires VendorBaseProcurify has acquired VendorBase, a Canadian online buyer-supplier platform. No financial terms were disclosed. Procurify, a Vancouver-based procure-to-pay software provider, said it has rebranded the business as Procurify Exchange, which will operate on the company's platform as a request-for-quote solution. Founded in 2012, Procurify helps organizations make more informed spending decisions. Its backers include the Business Development Bank of Canada, Nexus Venture Partners, Point Nine Capital and Runa Capital, all of which invested in the company's $7 million Series A round /canada/2016/11/3420380/ in 2016.
BDC to back founders with addiction, mental health challengesBusiness Development Bank of Canada (BDC) is financing $325,000 in loans to be provided by Rise Asset Development to support entrepreneurs with mental health and addiction challenges. The amount will be disbursed over two years through loans of $5,000 to $10,000. It will allow Rise, a Toronto-based provider of low-interest small business loans and mentorship to individuals living with mental illness and addictions, to expand its program in Canada. Rise has extended more than $1 million in loans since it was founded in 2010 by the Rotman School of Management and the Centre for Addictions and Mental Health.
Venture-backed Vision Critical buys assets of Aida SoftwareVision Critical has acquired certain assets of Aida Software Corp, a Vancouver-based startup that specializes in applying artificial intelligence to customer experience and support applications. No financial terms were released. Vision Critical, a Vancouver-based provider of customer intelligence software, said the buy will accelerate development and integration of machine learning and AI-related applications for its Sparq 3 platform. Aida's team, including Founder and CEO Jenny Yang, will join Vision Critical as a result of the deal. Vision Critical, which last year bought /canada/2017/09/3470584/ Pressly, is backed by Georgian Partners, OMERS Ventures, Telus Ventures, W Capital Partners and others /canada/2014/7/georgian-partners-leads-16-mln-follow-on-financing-of-vision-critical/
BDC partners with WEOC to support women entrepreneursThe Business Development Bank of Canada (BDC) has entered into a partnership with Women's Enterprise Organizations of Canada (WECO) to support women entrepreneurs and increase their financing opportunities. BDC will work with five WEOC member organizations and some 90,000 women business owners who work with WEOC members at the national level. The agreement adds to BDC's other commitments, including a new target of $1.4 billion in lending to women-led businesses by 2021, announced in last week's federal Budget 2018 https://www.budget.gc.ca/2018/docs/plan/toc-tdm-en.html and $200 million of investment in women-led technology companies.
ThoughtWire secures $20 mln in debt, Series A fundingToronto industrial internet-of-things platform ThoughtWire Corp has raised $20 million in a debt and Series A financing. Yaletown Partners led the round and was joined by BDC Capital, Round13 Capital, Epic Capital and Comerica. Founded in 2009, ThoughtWire's Ambiant platform helps make buildings, cities, hospitals and workplaces smarter, safer and more energy efficient by interconnecting and orchestrating people, workflows, data and things. Led by CEO Michael Monteith, the company will use the funds raised for geographic growth and team expansion. ThoughtWire is the first Ontario investment of the recently launched /canada/2017/12/yaletown-ups-emerging-growth-funds-target-with-100-mln-first-close/ Yaletown Innovation Growth Fund.
OTEAF, BDC lead $7.4 mln Series A financing of UpchainUpchain, a Toronto-based collaborative product development platform, has secured $7.4 million in a Series A financing. Canadian venture capital firms OpenText Enterprise App Fund (OTEAF) and BDC Capital led the round. OTEAF General Partner Richard Black and BDC Partner Sean Brownlee will join the board as a result. Launched in 2015 by CEO John Laslavic, Upchain provides product life-cycle management solutions to a range of stakeholders in the product development chain, as well as post-sales support. The funds raised will be used for product enhancement and to expand the company's sales, marketing and customer success teams.
Celtic House, BDC lead $3.3 mln financing of CanvasPopCanvas printing and photo-gifting services provider CanvasPop has raised $3.3 million in funding. Canadian venture capital firm Celtic House Venture Partners and the Growth and Transition Capital division of BDC Capital led the round. They were joined by angel investors Tobi Lütke and Cody Fauser, as well as entrepreneur Richard L'Abbé. Founded in 2009 by CEO Nazim Ahmed and CIO Adrian Salamunovic, CanvasPop offers online photo printing services that allow users to print virtually any image via the company's Canadian and U.S. facilities. It will use the funds raised to expand into new product categories and continue growth.
CanvasPop rakes in $3.3 mlnLas Vegas-based CanvasPop, a provider of canvas printing and photo gifting services for photographers, digital artists, interior designers and consumers, has raised $3.3 million in funding round. The lead investors were Celtic House Venture Partners and BDC’s Growth & Transition Capital group.
- Nanotech startup Nicoya Lifesciences wins C$2 mln from VCs
Kitchener, Ontario nanotechnology startup Nicoya Lifesciences Inc has secured C$2 million in its latest financing. U.S. venture capital firm Ripple Ventures and Canadian angel group Golden Triangle Angel Network led the round. They were joined by MaRS Investment Accelerator Fund, BDC Capital, Garage Capital, Angel One, Maple Leaf Angels, Innovation Grade Ventures and others.
Nanotech startup Nicoya Lifesciences wins $2 mln from VCsKitchener, Ontario nanotechnology startup Nicoya Lifesciences Inc has secured $2 million in its latest financing. U.S. venture capital firm Ripple Ventures and Canadian angel group Golden Triangle Angel Network (GTAN) led the round. They were joined by MaRS Investment Accelerator Fund, BDC Capital, Garage Capital, Angel One, Maple Leaf Angels, Innovation Grade Ventures and others. Launched in 2012, Nicoya's premiere product is OpenSPR, a biosensor platform that supports R&D applications in a range of fields, from pharmaceuticals to diagnostics. The funds raised will be used for new product development and sales and marketing.