Private Equity
Toronto-based visual content marketing platform CrowdRiff has secured about $11.5 million (US$9 million) in a Series A financing. Canadian venture capital firm Leaders Fund led the round. It was joined by High Alpha Capital, Gibraltar & Co and BDC Capital, all of which invested in CrowdRiff's seed financing in 2016. Founded in 2014 by CEO Dan Holowack and CTO Abhi Ajgaonkar, CrowdRiff's platform uses artificial intelligence to help travel and tourism marketers source and share visuals with their audiences. Since 2016, it has more than tripled revenue and grown its customer base to over 500 brands. CrowdRiff will use the funds raised for growth and to develop new products.
4 min read · 04 October 2018
Canadian mergers-and-acquisitions activity nearly doubled in the third quarter, fueled by deals in the mining, real estate and cannabis sectors, Reuters reported. Quarterly deal volume was up 91 percent to US$75.7 billion from US$39.6 billion in the same period last year, according to Thomson Reuters data released this week, bucking a global trend of declines in Europe and Asia. It was the strongest period for Canadian mining M&A since the second quarter of 2011. Mining deals slowed in recent years, due in part to commodity price pressures, balance sheet weakness and investor push back against miners seen as overpaying for assets.
2 min read · 04 October 2018
Bud.com, a San Francisco-based cannabis delivery company, has raised US$1 million in a seed-stage financing. The round was led by Serruya Private Equity (SPE), which invests on behalf of Canada’s Serruya family. Bud.com, launched this year, said it will use the round's proceeds for staffing, marketing and expanding its delivery areas. SPE Managing Director Aaron Serruya said bud.com offers an "unprecedented direct-to-consumer-opportunity for the recreational cannabis industry."
4 min read · 03 October 2018
Retail brokerage TD Ameritrade Holding Corp has invested in a new cryptocurrency exchange called ErisX in a bid to offer clients digital asset investment options beyond the popular bitcoin, Reuters reported. TD Ameritrade clients can already trade bitcoin futures over the CBOE Futures Exchange. ErisX will allow clients to potentially trade other cryptocurrency futures, such as Etherium and Litecoin, said J.B. Mackenzie, TD Ameritrade’s managing director of futures and foreign exchange. TD Ameritrade joined more than a dozen other investors backing the Chicago-based company. Terms weren't disclosed.
1 min read · 03 October 2018
VueReal Inc, a Waterloo-based developer of technologies for micro- and nano-devices, has secured $8.5 million from Sustainable Development Technology Canada (SDTC). The funds raised from SDTC will support VueReal's development of micro-LED technologies, which are used in a range of display applications. This will be achieved by growing the company's team and launching an Advanced Nano-Technology Center, a fabrication facility. VueReal was founded in 2016 by CEO Reza Chaji. Earlier this year, it initially closed a Series A financing of about $13.5 million (US$10.5 million).
3 min read · 03 October 2018
Kooltra, a Toronto-based cloud platform for automating foreign exchange (FX) trading, has closed a $6.5 million round, bringing total early-stage funding to $8.8 million. The deal was backed by new investors Hyde Park Venture Partners, Round 13 Capital and Salesforce Ventures and existing investor Real Ventures. Founded in 2012 by CEO Adam Katz, Kooltra's platform helps financial institutions and non-bank businesses modernize FX operations traditionally enabled by legacy technology, manual processes and spreadsheets. The company will use the funds raised to grow its team, build out its platform, expand operations in the United Kingdom, and pursue opportunities in the United States.
5 min read · 03 October 2018
Montréal-based travel booking app Hopper has secured about $128 million (US$100 million) in a Series D financing, increasing total funding so far to about $235 million. The Series D was led by OMERS Ventures. It was joined by existing investors Caisse de dépôt et placement du Québec, Accomplice, Brightspark, Investissement Québec, BDC Capital's IT Venture Fund and new investor Citi Ventures. Hopper said it will use the funds raised to expand globally and continue its artificial intelligence development. Founded in 2007 by CEO Frédéric Lalonde, CTO Joost Ouwerkerk and Sébastien Rainville, Hopper's app combines trillions of data points and machine learning to help users save time and money when planning and booking trips.
5 min read · 03 October 2018
BoomersPlus.com, a Halifax-based job-matching platform for retirees, has raised financing led by Canadian venture capital firm Innovacorp. No financial terms were disclosed; however, Entrevestor reported the round's value at $1.05 million. Founded in 2013 by CEO Rick Emberley, BoomersPlus.com's online service matches retirees with executive-level experience and business organizations in need of skilled labour. The company reports doubling its revenue in 2017 on a year-over-year basis. BoomersPlus.com said it will use the funds raised to expand into Newfoundland and Labrador, Prince Edward Island and Ontario.
4 min read · 03 October 2018
Toronto-based online cleaning services management platform iRestify has raised $1 million in a financing round. U.S. early-stage venture capital firm Birchmere Ventures led the deal. It was joined by Canadian investor groups Good News Ventures and Maple Leaf Angels, as well as others. Founded two years ago by Co-CEOs Erifili Morfidis and Charlotte Gummesson, iRestify provides business organizations with an online, streamlined solution for booking and managing trusted and insured cleaning services. The company is currently focused on business clients in Toronto, Ottawa and Montréal.
3 min read · 01 October 2018
Fonds de solidarité FTQ has decided to stop backing Québec oil and gas companies as part of an energy transition strategy intended to reduce the carbon footprint of its investments. The strategy will include setting a reduction target for its private equity investments in 2019. Additionally, the Fonds plans to assist Québec businesses with their transition and invest in alternative sources of energy. The Montréal-based investor, which oversees $14.3 billion in net assets, decided last year to stop investing in coal use for energy production.
3 min read · 01 October 2018
