Canada

Laurent raises VC financing to advance cystic fibrosis drug

Montréal-based biopharmaceutical company Laurent Pharmaceuticals Inc has raised an undisclosed financing. The round was led by Keiretsu Forum Mid-Atlantic, Anges Québec and Anges Québec Capital. They were joined by RSJ Gradus, Aligo Innovation, Cystic Fibrosis Canada and other investors. President and CEO Radu Pislariu said the funds raised will help the company build on progress made developing LAU-7b, a first-in-class, pro-resolving drug for treating cystic fibrosis. Laurent was founded in 2012 in a partnership between MSBi Valorisation, McGill University and McGill University Health Centre.

Milestone Pharmaceuticals secures $105 mln in RTW-led round

Montréal-based cardiovascular drug developer Milestone Pharmaceuticals has raised $80 million in its latest financing. U.S. life sciences investment firm RTW Investments led the round. It was joined by other new investors, including Venrock Healthcare Capital Partners and Tavistock Group, and existing investors, including Novo Holdings A/S, Forbion Capital Partners, Tekla Capital Management, Domain Associates, BDC Capital, Pappas Capital, GO Capital and Fonds de solidarité FTQ. Milestone will use the funds raised for its Phase 3 clinical program, pre-launch activities of etripamil, a new drug for treating paroxysmal supraventricular tachycardia, and expanding its pipeline. Led by President and CEO Joseph Oliveto, Milestone closed a $68 million Series C round last year.

iNovia Capital invests in $8 mln seed financing of Spatial

Spatial, a New York-based augmented reality software provider, has raised US$8 million in a seed-stage financing. The round's investors included iNovia Capital, a Canadian early-stage venture capital firm, as well as Expa's Garrett Camp, Samsung Next, Joi Ito, Mark Pincus and Andy Hertzfeld. The funds raised will support the launch of Spatial's cross-reality collaboration platform, which creates 3D work spaces and connects users remotely using lifelike avatars. Spatial was founded in 2016 by CEO Anand Agarawala and CPO Jinha Lee.

Beauceron Security seeded with $1.5 mln in NBIF-led round

Fredericton-based cyber-risk management platform Beauceron Security has raised $1.5 million in a second seed-stage financing. The round was led by New Brunswick Innovation Foundation (NBIF) and joined by Opportunities New Brunswick, Mariner Partners, East Valley Ventures, First Angel Network, CyLon and angel investors. Founded in 2016 and based on technology developed at the University of New Brunswick, Beauceron offers a cloud-based platform that helps organizations measure, monitor and remediate security threats. Led by CEO David Shipley, the startup will use the funds raised to build out its product roadmap, increase sales and marketing, and recruit new partners.

Canada's Parkland Fuel co-leads Filld's $15 mln Series B

Filld, a Mountain View, California-based last-mile mobile fueling company, has raised US$15 million in a Series B financing. Parkland Fuel Corp, a Canadian marketer of fuel and petroleum products, co-led the round with Calibrate Ventures. Existing venture capital investors also participated. As a result, Parkland USA President Doug Haugh joined the board. Filld, founded in 2015, will use the funds raised for market expansion, extending its services, and enhancing its technology platform and connected architecture.

Governance software provider Aprio inks $1 mln facility with TIMIA

Canadian revenue financing firm TIMIA Capital Corp has provided a $1 million investment facility to Aprio Inc, a Vancouver-based provider of board management software. TIMIA has deployed an initial $400,000 and will supply a further $600,000 when certain milestones are met. Founded in 2003, Aprio's technology helps organizations to efficiently run board meetings, keep directors up to date, and keep information secure. The company, led by President and CEO Ian Warner, will use the funds raised to increase sales and marketing.

Phoenix Labs raises Series C financing led by Sapphire Ventures

Vancouver-based game studio Phoenix Labs has secured an undisclosed amount in a Series C financing. The round was led by U.S. venture capital firm Sapphire Ventures. It was joined by other existing investors, including Everblue Management. The company's other backers include GGV Capital, Next Frontier Capital, Ridge Ventures and Signia Venture Partners. Founded in 2014 by Jesse Houston, Sean Bender and Robin Mayne, Phoenix Labs develops online multiplayer experiences for gamers. It will use the funds raised to expand its Vancouver and San Mateo, California studios, increase live service operations and development of new content for its debut title, Dauntless, and explore new platforms.

Warburg Pincus invests $130 mln in growth of Assent Compliance

Assent Compliance, an Ottawa-based supply-chain data management company, has secured a $130 million investment from Warburg Pincus, a U.S. private equity firm. As a result, Warburg's Justin Sadrian and Sam Lipsick will join the board. BDC Capital, Greenspring Associates, OpenText Enterprise Apps Fund and Volition Capital, which backed Assent's Series A and B rounds, will remain as investors. Assent provides cloud-based enterprise supply-chain data management software to help companies manage and reduce third-party market access, reputational, financial and operational risks. It will use the deal's proceeds to enhance the platform and expand product compliance, vendor management and social responsibility solutions.

Finn AI nabs $14 mln in Yaletown and Flying Fish-led Series A

Finn AI, a Vancouver-based conversational artificial intelligence platform for financial services, has raised $14 million in a Series A financing. The round was led by Yaletown Partners and Flying Fish Partners, which also led Finn AI's debut deal last year. They were joined by BDC Capital’s Women in Technology Fund and 1843 Capital as well as angel investors. Comerica Bank supplied lending facilities. Founded in 2014 by CEO Jake Tyler, COO Natalie Cartwright and CTO Guru Atlu, Finn AI provides an AI-enabled virtual assistant for personal banking and finance. The funds raised will be used for the company's continued growth in North America and Europe, enhancing its enterprise tooling, and extending its product to support additional capabilities.

TIMIA Capital makes Real Savvy its first U.S. tech investment

Canadian specialty finance firm TIMIA Capital Corp has provided a US$2.5 million facility to Real Savvy Inc, an Austin, Texas-based real estate software company. TIMIA, a provider of revenue-based financing to technology companies, will deploy an initial US$1 million, followed by a further US$1.5 million when certain milestones are met. Founded in 2014, Real Savvy develops custom websites and apps for brokers and agents that enable collaborations with buyers in home searches. TIMIA said the investment is its first in the United States.