Private Equity
Canada Pension Plan Investment Board (CPPIB) has made an undisclosed investment in ChargePoint, a Campbell, California-based electric vehicle (EV) charging network. The investment was part of a US$240 million Series H financing led by Quantum Energy Partners and joined by multiple other new and existing backers. ChargePoint will use the round's proceeds to continue developing charging solutions for electric passenger vehicles and expand into electric buses, trucks, fleets and beyond. CPPIB said ChargePoint is the initial investment of a new strategy focused on technologies poised to become critical segments of the energy value chain.
3 min read · 28 November 2018
HYAS, a Victoria, British Columbia-based provider of attribution intelligence solutions for information security and cybersecurity professionals, has raised $2 million in debt financing. The source was Silicon Valley Bank (SVB), a U.S. technology debt financing firm. The deal follows the close of HYAS' $6.2 million Series A financing in August. That round was led by M12 and joined by Startup Capital Ventures, 205 Capital, Wesley Clover International and others. The company also secured funding from Susa Ventures. HYAS said the partnership with SVB will support expansion of its Comox attribution intelligence engine.
3 min read · 28 November 2018
Feldan Therapeutics, a Québec City-based pre-clinical biotechnology company, has raised $1.3 million in financing from Asahi Kasei Corporate Venture Capital, the investment arm of Japanese conglomerate Asahi Kasei Corp. The investment increases Feldan's Series A financing to $13.8 million. In September, the company secured an initial $12.5 million led by South Korea's GC and joined by Stonebridge Ventures, Anges Québec and Anges Québec Capital. Founded in 2007, Feldan is developing a pipeline of therapeutic applications based on the Feldan Shuttle, its peptide intracellular delivery technology.
2 min read · 27 November 2018
Export Development Canada (EDC) has provided $1 million in financing to EnergyGeeks, a Toronto-based online solar energy platform. Founded in 2016, EnergyGeeks has developed a solar recommendation system that allows consumers to input their needs and get customized recommendations on solar system components for their homes or businesses. The company, led by CEO Mackie Hilborn, will use the funds raised from EDC to expand across the United States and meet demand. In September, EnergyGeeks was accepted into MaRS CleanTech Accelerator.
3 min read · 27 November 2018
Vancouver-based financial technology company Progressa has secured a facility to support its point-of-sale (POS) finance business, Progressa Connect. Alternative Credit Fund, a Canadian specialty credit firm, will facilitate up to a $13 million forward-flow whole loan purchase program to back the unit, which helps POS platforms and originators offer credit solutions to non-prime consumers. The deal follows Progressa's close in August of an $84 million debt and equity financing. The company, which is backed by Conconi Growth Partners, Cypress Hills Partners and others, is preparing for an initial public offering next year.
2 min read · 26 November 2018
Business Development Bank of Canada (BDC) has made available a free e-learning class in basic financial management to Canadian entrepreneurs. The online course uses gamification and simulations to bring small business owners through concepts such as cash flow management, financial statements, profitability, performance monitoring and raising external capital. BDC said the effort is being launched to address a perceived "deep financial literacy gap" that exists among entrepreneurs. A second phase of the course will be released in spring 2019.
3 min read · 22 November 2018
San Antonio, Texas-based audio company iHeartMedia has agreed to acquire Jelli Inc, a San Mateo, California-based cloud advertising platform for the global radio market. No financial terms were released. IHeartMedia said the deal will allow it to leverage Jelli’s assets to create for brands a digital-compatible buying platform for broadcast radio. Founded in 2008, Jelli raised more than US$40 million in financing, according to Crunchbase. Its investors include Canadian mobile venture capital firm Relay Ventures.
5 min read · 21 November 2018
Cova Software, a Denver, Colorado-based cannabis retail software platform, has raised US$8 million in an initial financing. The investor was Golden Opportunities Fund, a retail fund managed by Canadian private equity and venture capital firm Westcap Management. Cova provides point-of-sale solutions to cannabis retailers, including automated compliance, inventory management, reporting dashboards and a checkout app. It will use the funds raised for product development and to expand its North American footprint. Founded in 2016, Cova has its Canadian headquarters in Vancouver along with offices in Regina and Winnipeg.
3 min read · 21 November 2018
Backyard Axe Throwing League (BATL), a Toronto-based urban axe throwing company, has raised an undisclosed Series A financing. The round, which brings BATL's total funding to more than $10 million, was arranged by Canadian investment bank FirePower Capital. The investors were not disclosed. Founded in 2006 by CEO Matt Wilson, BATL operates 14 venues across North America for the sport of axe throwing. To date, it has hosted more than 1.25 million visitors in leagues and private events. The company plans to expand its retail footprint to more than 100 locations by 2023.
3 min read · 21 November 2018
Communo, a Calgary-based community of marketing and digital service professionals and agencies, has acquired LocalSolo, a Vancouver-based online network for freelancers. Terms weren't disclosed. Communo said the deal grows its footprint and increases its member-based community. Founded in 2017 by CEO Ryan Gill and COO Chris Kneeland, Communo helps members to share work, talent, resources and knowledge through a digital platform and co-working spaces. Earlier this year, Communo was backed by Canadian seed-stage venture capital firm Panache Ventures. It said it is preparing for a Series A financing expected to close next month.
4 min read · 20 November 2018
