Private Equity
Interset, an Ottawa-based security analytics software provider, has been acquired by Micro Focus (LSE: MCRO, NYSE: MFGP) for an undisclosed amount. Founded in 2001 as Gridiron Software, Interset uses behavioural analytics, machine learning, big data and risk forensics to provide solutions for insider and targeted outsider cyber-threat detection. The company has been led by CEO Mark Smialowicz. Micro Focus, a Newbury, U.K.-based enterprise application software company, said the acquisition adds depth to its security, risk and governance portfolio. Interset raised financing from Canadian and U.S. venture capital firms, including Anthem Venture Partners, In-Q-Tel, Toba Capital and Telesystem.
4 min read · 19 February 2019
Caisse de dépôt et placement du Québec (CDPQ) said it will invest about $127 million (US$100 million) in the fourth early-stage fund and new growth-stage vehicle of Inovia Capital. CDPQ will commit US$75 million to the growth fund and US$20 million to the early-stage fund. Charles Émond, CDPQ executive vice-president, Québec and global strategic planning, said the vehicles represent "another source of attractive future co-investment opportunities" for the Canadian pension system. As reported by PE Hub Canada, Inovia, a Montréal-based technology venture capital firm, secured a total of about $800 million (US$600 million) for the two funds.
2 min read · 19 February 2019
Sampler, a Toronto-based digital product sampling platform, has raised $3 million in its latest financing. The round, which brings total funding to $6.3 million, was led by BDC Capital’s Women in Technology Fund and Shipfusion Inc, a U.S. e-commerce fulfillment business. They were joined by new investors Factory LLC and StandUp Ventures and existing investors, including Freycinet Ventures and MaRS Investment Accelerator Fund. Founded in 2013 by CEO Marie Chevrier, Sampler provides technology that helps consumer packaged goods brands deliver physical samples to digitally-targeted consumers. The company will use the funds raised to expand its sales, marketing and product team.
5 min read · 19 February 2019
Business Development Bank of Canada (BDC) has invested $8 million in Equispheres, an Ottawa-based advanced materials provider. BDC invested through the federal government's $700 million clean technology strategy, announced last year. Founded in 2015, Equispheres has developed technology for making high-performance spherical metal powders for additive manufacturing applications. The solution helps reduce fuel consumption and production waste. Led by President and CEO Kevin Nicholds, the company will use the investment's proceeds to execute on its growth plan and meet demand in the aerospace and automotive sectors.
3 min read · 19 February 2019
Peraso Technologies Inc, a Toronto-based fabless semiconductor company, has raised about $56 million (US$42 million) in a follow-on financing. The deal was led by two unidentified strategic investors and Roadmap Capital, an existing backer. The company's other investors include Celtic House Venture Partners and Inovia Capital. Founded in 2008, Peraso specializes in the development of integrated circuits for the 60 GHz wireless marketplace. President and CEO Bill McLean said the funds raised will support additional sales as "an increasing number of consumer electronic and wireless infrastructure manufacturers choose to incorporate multi-gigabit wireless connectivity into their products."
3 min read · 19 February 2019
Inovia Capital has raised about $800 million (US$600 million) for a pair of early-stage and growth funds, fulfilling an ambition to become a full-stack venture firm. The Montréal tech investor secured $266 million for a fourth early-stage fund, meeting its target. It also secured an initial $532 million for a new growth-stage vehicle. Inovia is now looking to raise up to US$100 million more for the growth fund, potentially increasing it to $665 million, General Partner Chris Arsenault told PE Hub Canada. The firm also announced the opening of a new office in London, run by General Partner Patrick Pichette, formerly a senior vice president and CFO at Google.
3 min read · 19 February 2019
Book4Time, a Markham, Ontario-based cloud business management software platform for the spa and wellness industry, has raised a monthly-recurring-revenue loan of $2.5 million. The source of the loan was the growth and transition capital group of BDC Capital. Founded in 2004 by CEO Roger Sholanki, Book4Time provides a software-as-a-service solution to more than 3,000 luxury and chain spas in over 70 countries. The company will use the funds raised to accelerate growth over the next three years, by hiring staff for sales and marketing, R&D and operations and expanding its headquarters.
3 min read · 16 January 2019
CoolIT Systems, a Calgary-based liquid cooling technology company, has raised undisclosed debt financing from Vistara Capital Partners. Vistara invested through its third technology debt fund, Vistara Technology Growth Fund III, which was launched in October with a $130 million (US$100 million) target. Founded in 2001, CoolIT provides modular, scalable liquid cooling solutions for data centres. It will use the funds raised to expand production capacity in response to demand from new and existing global customers. CoolIT is backed by Canadian venture capital firm iNovia Capital, U.S. firm Chart Venture Partners and other investors.
3 min read · 16 January 2019
Veeam Software, a Baar, Switzerland-based provider of data management solutions for the public and private cloud, has secured a US$500 million investment. The investment was made by U.S. venture capital and private equity firm Insight Venture Partners, with "strong" participation from Canada Pension Plan Investment Board (CPPIB). Founded in 2006, Veeam provides backup solutions that enable intelligent data management for more than 325,000 customers worldwide. The deal's proceeds will help accelerate the next phase of the company's organic and acquisition-based growth.
5 min read · 16 January 2019
Bold Commerce, a Winnipeg-based developer of e-commerce software solutions, has raised $22 million in a Series A financing. The investors were Canadian venture capital firms Whitecap Venture Partners and Round13 Capital. Whitecap's Carey Diamond and Round13's Craig Strong will join the board. Founded in 2012 by CEO Yvan Boisjoli, CTO Eric Boisjoli, CBO Stefan Maynard and Vice President, Growth Jay Myers, Bold provides a range of e-commerce apps to more than 86,000 wholesale and business-to-business merchants worldwide. It will use the funds raised to add artificial intelligence-based solutions and other enhancements to its platform and scale operations.
3 min read · 16 January 2019
