Canada

VC-backed Shopify to acquire 6 River Systems

Ottawa-based Shopify, a multi-channel commerce platform, has agreed to acquire Waltham, Massachusetts-based 6 River Systems Inc, a provider of collaborative warehouse fulfillment solutions. The deal is valued at about US$450 million. Orrick advised Shopify on the transaction. The acquisition is expected to close in the fourth quarter of 2019. Shopify's backers include OMERS Ventures, Bessemer Venture Partners, FirstMark, Felicis Ventures, Insight Partners and Georgian Partners.

Fitness Technologies nabs funding

Fitplan Technologies, a Vancouver, British Columbia and Los Angeles-based mobile fitness platform, has raised US$4.5 million in funding. Corazon Capital and Sam Yagan, co-founder of OKCupid, Sparknotes and former CEO of Match Group, led the round. Other investors included Alex Rodriguez, Lerer Hippeau, Bullpen Capital and Advancit Capital.

Stash Energy rakes in C$400K

Fredericton, New Brunswick-based Stash Energy Inc, a provider of affordable smart energy solutions, has secured C$400,000 in funding. The investors were The New Brunswick Innovation Foundation and PEI-based Island Capital Partners. The capital infusion will be used for additional product development, testing and market expansion.

McRock Capital launches second industrial IoT venture fund

McRock Capital, a Canadian industrial internet-of-things venture capital firm, has raised C$80 million for its second venture fund. The target is C$100 million. Investors of McRock Fund II LP include Cisco Investments, Shell, BDC Capital, Export Development Canada, Alberta Enterprise Corporation and HarbourVest. Co-founded by Scott MacDonald and Whitney Rockley, McRock invests exclusively in industrial IoT companies across Canada, the US, and Europe.

Clio amasses Series D from TCV and JMI

Clio, a provider of cloud-based legal technology, has raised US$250 million in Series D funding. The investors were TCV and JMI Equity. Raymond James served as a buyside financial adviser to TCV on this transaction. According to the announcement of this fundraising, it "marks one of the largest in legal technology, the largest in Canadian history, and a definitive shift for the future of the legal industry." Clio has offices in Toronto, Calgary, Los Angeles and Ireland.

MIMS grabs C$2.6 mln seed

Montreal-based My Intelligence Machines, which provides a SAAS platform for analyzing omics data via different types of artificial intelligence, has secured C$2.6 million in seed funding. The investors were Anges Québec, Anges Québec Capital, Desjardins Capital, Consortium MEDTEQ, Real Ventures and StandUp Ventures. The capital infusion will be used to "develop so-called turnkey and integrated solutions enabling life scientists, without expertise in bioinformatics or data sciences, to stratify human, animal and plant populations." MIMS was founded in 2016 by Sarah Jenna, Mickaël Camus and Abdoulaye Baniré Diallo.

Clean food tech provider Terramera locks in Series B

Vancouver, British Columbia-based Terramera, a clean food technology provider, has raised US$45 million in Series B funding. Ospraie Ag Science and Seed2Growth Ventures led the round. The capital will be used to enable Terramera to scale its technology. In addition to the funding, Terramera has named Jeff Booth as board chair and Carl Casale, lead investor of Ospraie Ag Science, to its board of directors.

Toronto fintech firm PayBright nabs $34 mln

Toronto-based PayBright, a fintech lending and payments provider, has raised $34 million in funding. The backer was goeasy Ltd. This transaction follows a recent fundraising led by the Canadian Business Growth Fund with participation from PayBright's return backers that included iA Financial Group. The total equity raised in the two transactions were $60 million.

Repare Therapeutics picks up Series B funding

Montreal and Boston-based Repare Therapeutics, a precision oncology company, has closed US$82.5 million in Series B financing. Cowen Healthcare Investments led the round. Other participants in the financing included OrbiMed, Redmile, BVF Partners LP, Logos Capital, Versant Ventures, MPM Capital, Fonds de solidarité FTQ and BDC Capital. In addition to the funding, Kevin Raidy, managing partner at Cowen Healthcare Investments and Dr. David Bonita, a partner at OrbiMed, will join Repare’s board of directors.

Bourque to join White Star's new Toronto office as GP

Christophe Bourque will become a general partner at White Star Capital's new Toronto office, according to a Medium blog post. Bourque originally joined the firm's Montreal office two years ago. White Star opened its first Canadian office in Montreal in 2014. White Star Capital is a tech-focused early-stage venture firm that invests in North America and Europe.