Private Equity
Benevity Inc has bought Versaic Inc, a San Mateo, California-based software company that helps manage corporate giving and social responsibility activity. No financial terms were released. Benevity, a Calgary-based online workplace giving, matching, volunteering and community investment software provider, said the acquisition, which comes on the heels of last month's buy of TrustCSR, will expand its grant management offerings. Established in 2008, Benevity in January secured an investment from General Atlantic. The company is also backed by JMI Equity.
3 min read · 29 March 2018
Swift Medical, a Toronto-based specialist in digital wound care management, has raised $11.6 million in a Series A financing. The round was led by U.S. venture capital firm Data Collective (DCVC) and joined by Canadian firms Real Ventures, Relay Ventures and BDC Capital. Founded in 2015 by CEO Carlo Perez and CTO Edwin Liang, Swift provides advanced wound care visualization and 3D measurement through its Skin and Wound software. The solution has so far been adopted by more than 1,000 healthcare facilities managing over 100,000 beds across North America. Swift plans to use the Series A's proceeds to pursued continued growth.
4 min read · 29 March 2018
Vancouver and Berkeley, California-based BriaCell Therapeutics Corp (TSX-V: BCT), an immuno-oncology-focused biotechnology company, has raised about $5.3 million in financing. According to details of a non-brokered private placement, BriaCell sold over 43 million shares of the company at $0.10 per share. In addition to this deal, BriaCell raised US$800,000 (about $1 million) in a brokered private placement. The U.S. life sciences investors included Brio Capital Master Fund, Efrat Investments and Mario Family Partners. The proceeds will be used to fund BriaCell's Phase-2a clinical trial, to pursue research opportunities, and for other priorities.
6 min read · 27 March 2018
HIVE Blockchain Technologies Ltd (TSX-V: HIVE) has agreed to buy the issued and outstanding shares of Kolos Norway AS, a Ballangen, Norway-based data centre property powered by renewable energy. The deal, scheduled to close within 60 days, reflects a total consideration of US$9.9 million, 4.75 million common shares and 1.25 million warrants. HIVE, a Vancouver-based developer of blockchain infrastructure, said Kolos will be its flagship data centre project in the years ahead. The company, which also has assets in Iceland and Sweden, last October raised $7 million in a deal with strategic investor Genesis Mining Ltd.
5 min read · 27 March 2018
Vancouver-based home-improvement technology provider BuildDirect has raised about $55 million (US$43 million), about $36 million of which is new with the rest converted from interim financing obtained during the company's recent creditor protection. Mohr Davidow Ventures led the round. It was joined by new and existing investors, including Fidelity Investments Canada, Pelecanus Investments, Lyra Growth Partners and Beedie Capital. The fundraising, which wraps up BuildDirect's restructuring, and the company's exit from creditor protection this month, leave a "newly energized and well capitalized business poised for success," CEO Dan Park said.
4 min read · 26 March 2018
Moncton, New Brunswick-based gaming economics startup Itavio has secured undisclosed financing from New Brunswick Innovation Foundation (NBIF), an existing investor. The company also announced it has taken New York office space with HearstLabs, an accelerator and Itavio investor. Founded in 2014 by CEO Melani Flanagan and CTO Matt Pichette, Itavio's technology connects parents, kids and their gaming devices while helping gaming companies grow revenue and retain players. It will use the funds raised from NBIF to expand sales and marketing and enhance the platform.
4 min read · 23 March 2018
Montréal-based biotechnology startup SemaThera Inc has raised about $2.6 million (US$2 million) in its latest financing. The round was backed by Japan's Senju Pharmaceutical Co Ltd and Canadian life sciences seed-stage investor AmorChem, which spun out and funded SemaThera last year. The proceeds will be used to prepare the company's lead drug, ST-102, for clinical trials as an intravitreal injection in diabetic macular edema. SemaThera also struck a licensing deal with Senju to develop and market ST-102 in China and Japan. In December, AmorChem launched its second fund at an initial capitalization of $44.2 million.
3 min read · 23 March 2018
Business Development Bank of Canada (BDC) is financing $325,000 in loans to be provided by Rise Asset Development to support entrepreneurs with mental health and addiction challenges. The amount will be disbursed over two years through loans of $5,000 to $10,000. It will allow Rise, a Toronto-based provider of low-interest small business loans and mentorship to individuals living with mental illness and addictions, to expand its program in Canada. Rise has extended more than $1 million in loans since it was founded in 2010 by the Rotman School of Management and the Centre for Addictions and Mental Health.
4 min read · 22 March 2018
Clean technology venture capital firm Cycle Capital Management has promoted Shirley Speakman to the position of senior partner. Speakman, who joined Cycle in 2014, has since 1995 held several senior roles in corporate finance and the venture capital industry, including as a director of MaRS Investment Accelerator Fund. Andrée-Lise Méthot, Cycle's founder and managing partner, said Speakman's promotion "consolidates the gender parity of our partnership." Cycle, which has offices in Montréal, Toronto and Qingdao, China, as well as a U.S. market presence, manages more than $350 million in assets.
3 min read · 22 March 2018
Stratford, a Canadian town known for its annual theatre festival, is emerging as a hub of “snowtonomous” research, as automakers face demands to produce self-driving cars that can perform in snow and sleet, Reuters reported. The province of Ontario is counting on the lure of its snowy winters and the strength of its automotive and software engineering sectors to establish a “Silicon North.” Since 2016, Ontario has attracted about $1 billion in private-sector investment for autonomous and connected cars.
4 min read · 21 March 2018
