Private Equity
Atomic Reach, an artificial intelligence-based content optimization platform, has closed a $3.4 million bridge financing. The company's existing backers, angel investors and Fidelity Investments Canada ULC joined the round. Founded in 2012 by CEO Bradley Silver, Atomic Reach gives marketers and advertisers insights and tools to improve the performance of their content marketing, communications and digital programs. The Toronto-based company, which has previously raising funding from Genwealth Ventures and MaRS Investment Accelerator Fund, will use the bridge round's proceeds to accelerate growth, innovate, and to expand strategic partnerships and market reach.
3 min read · 26 June 2018
CoLab Software, a St. John’s, Newfoundland and Labrador cloud-based issue and design management platform, has raised $600,000 in a pre-seed financing. Canadian investors, including Pelorus Venture Capital, Killick Capital and Panache Ventures, backed the round. Founded last year by CEO Adam Keating and CTO Jeremy Andrews, CoLab's technology allows engineering teams to view 3D designs, gather feedback, track issues and manage projects more efficiently in a shared cloud environment. The company will use the funds raised to grow its team in advance of the launch of a full-scale enterprise solution, scheduled for Q1 2019.
2 min read · 25 June 2018
U.S. private equity firm Inventiv Capital Management has agreed to provide about $132 million (US$100 million) to support the projects of Pond Technologies Inc (TSX.V: POND), the Toronto-based developer of an algae-based emissions abatement solution. The deal will see development of a portfolio of projects implementing the company's technology, to be co-located next to industrial emitters of greenhouse gases, such as power plants and refineries. Founded in 2008 and led by CEO Steve Martin, Pond has previously raised financing from MaRS Investment Accelerator Fund, Pyfera Growth Capital and other investors.
3 min read · 25 June 2018
China’s Meituan Dianping, an online food delivery-to-ticketing services platform, is bringing its initial public offering to Hong Kong, where it aims to raise over US$4 billion, sources told Reuters. The Beijing-based company, backed by Tencent Holdings Ltd, was valued at around US$30 billion in a fundraising last year. It is aiming for a US$60 billion valuation with the IPO. Meituan’s other backers include venture capital firms Sequoia Capital and DST Global, Singapore's GIC Pte Ltd and Temasek Holdings (Private) Ltd, as well as Canada Pension Plan Investment Board.
3 min read · 25 June 2018
The Government of Nova Scotia plans to commit $15 million to a new venture capital fund that will invest in early-stage technology companies in the province and elsewhere in Atlantic Canada. The new vehicle will be led by Patrick Hankinson, an entrepreneur and investor who co-founded Tether.com and Compilr. According to Entrevestor, Hankinson is expected to raise additional commitments, potentially increasing the fund's capital base to approximately $17.5 million to $20 million. It will operate in tandem with a late-stage fund launched in 2017 with a $15 million commitment. That fund is managed by Canadian venture capital firm Build Ventures.
4 min read · 22 June 2018
Globalive Technology has acquired a call option to buy Globalive Capital (GC)'s control position in Flexiti Financial, a Toronto-based point-of-sale financing and payment technology company. The deal is linked to a joint venture between Globalive Technology and Flexiti, announced this week, to build and commercialize software utilizing artificial intelligence and blockchain technology for the consumer loans market. Earlier this month, GC acquired control of Flexiti as a result of a $50 million investment backing the company's buy of TD Financing Services' private label credit card portfolio. GC also controls Globalive Technology.
4 min read · 21 June 2018
Andrew Sider has joined Canadian early-stage venture capital firm Real Ventures as an entrepreneur-in-residence. He will operate from the firm's Toronto office. Sider has in recent years served in a number of senior entrepreneurial roles, mostly recently as CEO of VarageSale, a buy-and-sell website and mobile app backed by Real and sold last year to VerticalScope. Before then, he was co-founder and CEO of Bunch, a discussion app for interest-based groups, also backed by Real and sold to VarageSale in 2014. Last November, Montréal-based Real closed its fourth early-stage fund, raising $180 million.
3 min read · 21 June 2018
Toronto-based restaurant point-of-sale software provider TouchBistro has closed a $72 million Series D financing. The round, which brings the company's total funding to date to $117 million, was led by OMERS Ventures and JPMorgan Chase. They were joined by Napier Park Financial Partners, Recruit Holdings Co Ltd, BDC Capital's IT Venture Fund and Relay Ventures, all of which backed last year's $16.3 million Series C financing. TouchBistro, founded in 2010 by CEO Alex Barrotti and COO Geordie Konrad, processes over US$6 billion in global restaurant transactions annually. The funds raised will be used for developing a new operating system and payment solutions, market growth, and new hires.
4 min read · 21 June 2018
Export Development Canada (EDC) has invested $7 million in Hortau, a Lévis, Québec-based precision agriculture business. Founded in 2002 by CEO Jocelyn Boudreau and Jean Caron, Hortau's technology allows growers to detect crop stress, optimize growth, and reduce water use, energy and environmental impact. It said the latest funds raised will help the company reach more customers. Hortau, which raised $5.9 million from Sustainable Development Technology Canada in January, is also backed by Advantage Capital Partners, Avrio Capital, BDC Capital, Capital régional et coopératif Desjardins and Telesystem.
3 min read · 20 June 2018
AlayaCare has acquired Canesto Systems Inc, an Ajax, Ontario-based contact and resource management software provider for home and community care organizations. No financial terms were released. AlayaCare, a Toronto and Montréal cloud-based home healthcare software company, said the deal will help it serve Ontario home and community care agencies and expand insight capabilities through increased access to health data. Founded in 2014, AlayaCare last year closed a $2.4 million financing with Fonds Innovexport. It is also backed by Desjardins-Innovatech, Klass Capital, Maple Leaf Angels and Recap Health Ventures.
3 min read · 20 June 2018
