Private Equity
ApplyBoard, a Kitchener, Ontario-based international student recruitment platform, has raised $55 million in a Series B financing. The round was led by U.S. growth equity firm Anthos Capital. It was joined by existing investors, including Artiman Ventures, which led last year's $17 million Series A financing. Founded in 2015 by CEO Martin Basiri and CMO Meti Basiri, ApplyBoard provides an artificial intelligence-enabled platform that helps international students apply to study at North American educational institutions. To date, it has assisted more than 45,000 students with their applications. ApplyBoard will use the funds raised to further develop its technology, enter new markets, and hire additional talent.
3 min read · 27 May 2019
OSF Commerce has acquired Blueleaf, a Cheshire, United Kingdom-based digital commerce agency, for an undisclosed amount. Founded in 1999, Blueleaf provides retailers with user experience design and support for projects built on Salesforce Commerce Cloud. OSF Commerce, a Québec City-based retail consultant and commerce technology integrator, said the deal gives it an established U.K. delivery centre that will facilitate the company's growth in the market. The acquisition follows this month's $31 million (US$23 million) financing of OSF Commerce. The round was led by Delta-v Capital and joined by Salesforce Ventures.
4 min read · 24 May 2019
OSF Commerce has acquired Blueleaf, a Cheshire, United Kingdom-based digital commerce agency, for an undisclosed amount. Founded in 1999, Blueleaf provides retailers with user experience design and support for projects built on Salesforce Commerce Cloud. OSF Commerce, a Québec City-based retail consultant and commerce technology integrator, said the deal gives it an established U.K. delivery centre that will facilitate the company's growth in the market. The acquisition follows this month's $31 million (US$23 million) financing of OSF Commerce. The round was led by Delta-v Capital and joined by Salesforce Ventures.
4 min read · 24 May 2019
Financial institutions are engaging with fintech companies because they see them as a potential value add. There will always be some things financial institutions could do better and some things fintech companies could do better. So how can banks identify what they can do best internally and when it’s best to engage with third parties? In a PE Hub Canada feature article, Torys LLP Partners Blair W. Keefe and Joel Ramsey and Senior Associate Eli Monas examine this question. They discuss the changing competitive landscape and the potential costs, benefits and risks for financial institutions of doing deals with tech companies.
5 min read · 23 May 2019
Financial institutions are engaging with fintech companies because they see them as a potential value add. There will always be some things financial institutions could do better and some things fintech companies could do better. So how can banks identify what they can do best internally and when it’s best to engage with third parties? In a PE Hub Canada feature article, Torys LLP Partners Blair W. Keefe and Joel Ramsey and Senior Associate Eli Monas examine this question. They discuss the changing competitive landscape and the potential costs, benefits and risks for financial institutions of doing deals with tech companies.
5 min read · 23 May 2019
Canopy Rivers, the venture capital arm of Canopy Growth Corp (TSX: WEED, NYSE: CGC), has promoted Narbé Alexandrian to CEO, effective immediately. Alexandrian replaces Bruce Linton, co-CEO of Canopy Growth, who will continue in his role as chairman of Canopy Rivers' board. Alexandrian joined Canopy Rivers in 2018 from OMERS Ventures, where he served as a senior associate. Before then, he was a senior strategy manager in Telus Corp’s internet of things group. The promotion is Alexandrian's second this year. In January, he was appointed president. Based in Smith Falls, Ontario, Canopy Growth is a cannabis and hemp company.
4 min read · 23 May 2019
Kitchener, Ontario-based wearable technology company North has raised about $54 million (US$40 million) in convertible debt financing, according to a report by the Globe and Mail. The money came from the company's existing investors Amazon Alexa Fund, Intel Capital and Fidelity Investments Canada, the report said. Formerly called Thalmic Labs, North in 2018 launched a line of augmented reality eyewear called Focals. The funds raised will support operations prior to a more significant round, potentially earmarked for a new version of the glasses, the report said. Founded in 2012, North's other investors include First Round Capital, Inovia Capital and Spark Capital.
1 min read · 22 May 2019
Zendesk Inc (NYSE: ZEN) has acquired Smooch Technologies Holdings ULC, a Montréal-based messaging platform for enterprise software makers. No financial terms were disclosed. Spun out of Radialpoint in 2015 by CEO Warren Levitan, Chairman Hamnett Hill and CTO Mike Gozzo, Smooch provides technology that helps deliver omnichannel conversations between customers and brands over any messaging channel. In 2016, Smooch raised $10 million in a seed-stage financing led by Real Ventures and Inovia Capital and joined by TA Associates. Zendesk, a San Francisco-based customer service and engagement platform, said its combination with Smooch will "drive the next wave of connected conversations on a variety of messaging channels."
5 min read · 22 May 2019
Natural Partners Fullscript (NPFS), a nutraceutical prescribing platform based in Scottsdale, Arizona and Ottawa, has raised US$25 million ($34 million) in a Series B financing. The round was led by Kayne Partners, the growth equity affiliate of U.S. alternative investment firm Kayne Anderson Capital Advisors. NPFS said the proceeds will be used to scale Fullscript, which enables healthcare practitioners to dispense nutritional supplements to their patients through an e-prescribing platform. NPFS was created in 2018 with the merger of U.S.-based Natural Partners and Canada's Fullscript. It is led by CEO Fran Towey and President and CRO Kyle Braatz.
4 min read · 21 May 2019
Natural Partners Fullscript (NPFS), a nutraceutical prescribing platform based in Scottsdale, Arizona and Ottawa, has raised US$25 million ($34 million) in a Series B financing. The round was led by Kayne Partners, the growth equity affiliate of U.S. alternative investment firm Kayne Anderson Capital Advisors. NPFS said the proceeds will be used to scale Fullscript, which enables healthcare practitioners to dispense nutritional supplements to their patients through an e-prescribing platform. NPFS was created in 2018 with the merger of U.S.-based Natural Partners and Canada's Fullscript. It is led by CEO Fran Towey and President and CRO Kyle Braatz.
4 min read · 21 May 2019
