Private Equity
AppNeta Inc, a Boston and Vancouver network performance company, has secured undisclosed growth financing from Rubicon Technology Partners, a U.S. enterprise software private equity firm. AppNeta provides application and network monitoring solutions for the distributed, cloud-connected, digital enterprise. Led by President and CEO Matt Stevens, it serves more than 1,100 businesses worldwide and analyzes more than 100 billion performance metrics daily via its software-as-a-service platform. Founded in 2011, AppNeta previously raised venture capital funding from Bain Capital, BDC Capital, Egan-Managed Capital and other investors.
3 min read · 04 January 2018
Network security company AlgoSec has raised US$36 million from investment firm Claridge Israel to help it expand globally, Reuters reported. AlgoSec, which is headquartered in the United States with its research and development in Israel, provides a system that automates and orchestrates network security policy management. Founded in 2004, the company is led by Chairman and CEO Yuval Baron. Claridge Israel is a partnership between Caisse de dépôt et placement du Québec, one of the largest institutional investors in Canada, and the Bronfman family’s investment firm Claridge Inc, which is based in Montréal.
1 min read · 03 January 2018
Rubikloud Technologies Inc said it raised about $46.5 million (US$37 million) in an oversubscribed Series B financing led by Intel Capital and joined by new investors iNovia Capital and OpenText Enterprise Apps Fund. Existing investors Horizons Ventures and Access Industries also participated. The Toronto company, which develops decision-automation software using artificial intelligence for the retail industry, has now raised US$45 million. It will use the money to expand in Europe and Asia. Rubikloud was founded in 2013 by Kerry Liu, the company's CEO, in partnership with Dan Theirl and Frank Thomas. It is also backed by MaRS Investment Accelerator Fund and several angel investors.
1 min read · 03 January 2018
Canadian mobile app development platform Buddybuild has been acquired by U.S. technology giant Apple. No financial terms were disclosed. As a result, Buddybuild has become part of Apple's Xcode engineering group, but will continue to operate from Vancouver. Launched in 2015 by CEO Dennis Pilarinos and Engineers Christopher Stott and Johnny Ting Shi, Buddybuild was backed by Amplify Partners, Bloomberg Beta, First Round Capital and Kleiner Perkins Caufield and Byers, among others. Kleiner Perkins led the company's $10 million (US$7.6 million) Series A financing in 2016. In November, Apple bought Totem headset maker Vrvana.
1 min read · 02 January 2018
FindBob, a transition management platform for the financial services industry, has raised about $1.6 million (US$1.25 million) in seed-stage financing. The round was led by Grinnell Mutual Reinsurance and joined by MaRS Investment Accelerator Fund, Ames Seed Capital, Global Insurance Accelerator and angel investors. Founded three years ago by CEO Roland Chan, Toronto-based FindBob provides a digital channel to help financial professionals and their firms manage change and succession issues. It will use the funds raised to grow sales and marketing teams, expand into new U.S. markets, and execute on its product road map.
4 min read · 22 December 2017
Eguana Technologies Inc (TSX-V: EGT) has secured about $3.8 million (US$3 million) in debt financing from Western Technology Investment, a U.S. venture debt firm. Based in Calgary, Eguana designs and manufactures high performance power electronics for residential and commercial energy storage systems. It plans to use the funds raised for general working capital. Led by CEO Justin Holland, Eguana has also raised financing from Doughty Hanson Technology Ventures.
2 min read · 21 December 2017
Marijuana lifestyle businesses Cannabis Co Ltd, known as DOJA, and Tokyo Smoke, have agreed to combine, creating Hiku Brands Co Ltd, a Canadian retail- and brand-focused cannabis producer. The new entity, expected to have a market cap of about $175 million, will operate seven cannabis accessory stores across Ontario, Alberta and British Columbia. It will be backed by a $12.5 million financing led by Aphria Inc, allowing Hiku to scale production, expand its retail footprint and build its cannabis brands portfolio. Toronto's Tokyo Smoke, which closed a $6 million Series B round in October, has been backed by Aphria, Green Acre Capital, Globalive Capital and others.
10 min read · 21 December 2017
PrecisionLender, a U.S. pricing and profitability platform for commercial bank relationship managers, has closed a minority investment. The undisclosed deal was backed by Insight Venture Partners, which joined existing investor Georgian Partners, a Canadian growth equity firm. Georgian led the company's Series B financing last year. The funds raised will help accelerate Charlotte, North Carolina-based PrecisionLender's use of artificial intelligence and machine learning in its pricing intelligence products. Georgian's investment in PrecisionLender is led by Managing Partner Justin LaFayette.
3 min read · 20 December 2017
Edlio has acquired Scholantis, a Vancouver-based provider of custom-designed websites and user-driven portals to Canadian schools. No financial terms were disclosed. Edlio, a Los Angeles-based provider of communication platforms for K-12 schools and districts, said the deal expands the company's education technology capabilities and will allow it to serve the market in Canada. Scholantis was founded in 2007 by President and CEO Drew Carmichael. Launched in 2011, Edlio last year raised a US$40 million investment from L Squared Capital Partners, a U.S. growth equity firm.
4 min read · 20 December 2017
ARTMS Products Inc, a Vancouver-based medical technology startup, has raised about $3.85 million (US$3 million) in financing. The investment came from a health sciences fund launched last year by Canadian venture capital firm Quark Venture and China’s GF Securities Co Ltd. Founded in 2013, ARTMS is developing novel technologies to enable the production of diagnostic imaging isotopes. Its flagship product, QUANTM Irradiation System, is a hardware and consumable system for producing Tc-99m on medical cyclotrons. Led by CEO Paul Schaffer, ARTMS will use the funds raised to set up operations and focus on partnerships, commercialization and production.
3 min read · 18 December 2017
