Private Equity
TimePlay Inc, a Toronto-based technology media company, has raised $8 million in the first tranche of a Series A financing. The round's backers were unidentified accredited investors, with Cranson Capital Securities acting as the agent. TimePlay specializes in interactive experiences for mobile and other second screen devices. Launched in 2006 by President and CEO Jon Hussman, the company has deployed its platform technology on more than 1,000 screens across North America. It plans to use a portion of the funds raised to continue expanding its cinema business in the United States and worldwide as well as pursue new verticals.
3 min read · 25 August 2017
Roost Inc, a Sunnyvale, California-based developer of smart home technology, has raised US$10.4 million in a Series B financing. The round included investments from insurance companies led by Aviva Ventures and was joined by Desjardins General Insurance Group, a Canadian property and casualty insurance provider, among others. Roost provides connected solutions that give early warnings of danger or property damage. Desjardins Insurance, an affiliate of Montréal-based Desjardins Group, has a partnership with the company to deploy its home telematics solution.
4 min read · 24 August 2017
Tantalus Systems Corp has acquired Energate Inc, an Ottawa-based provider of interactive demand management solutions. The deal's financial terms were not disclosed. Tantalus, which has principal offices in Burnaby, British Columbia, and Raleigh, North Carolina, said the acquisition expands its smart grid application portfolio as well as its addressable market opportunity. Founded in 2004, Energate has been backed by Cycle Capital Management, among other investors. Tantalus is also venture-backed. Earlier this year, it raised $6 million in follow-on funding from several investors, including CT Innovations and Vareco Holdings.
3 min read · 24 August 2017
Venture capital investment in Canadian technology companies sustained a strong pace in the first half of 2017, according to a report by the Canadian Venture Capital and Private Equity Association (CVCA). VC funds invested a total of $1.6 billion in 260 financing rounds at the end of June, not far behind the $1.7 billion invested in 275 rounds in H1 2016. Activity in the second quarter was especially robust, with $913 million going to 131 rounds, up 28 percent from Q2 2016. CVCA said H1 2017 was also notable for the return of major venture-backed exits in Canada, led by the sale of Luxury Retreats to Airbnb and initial public offerings of Real Matters and Zymeworks.
4 min read · 23 August 2017
The Business Development Bank of Canada (BDC) currently provides financing or advisory services to a record 49,000 Canadian small business owners, up 17 percent from the year before. That's according to BDC’s 2016-17 annual report, released today. Montréal-based BDC, which provides entrepreneurs with risk funding through BDC Capital's venture capital, mezzanine and growth equity arms, has in the past year unveiled several new initiatives. They include a $50 million commitment to women-run technology companies and the launch of a second $135 million clean technology fund. BDC said its consolidated net income stood at $465 million last year.
4 min read · 23 August 2017
Montréal clinical-stage biopharmaceutical company Clementia Pharmaceuticals Inc has wrapped up its initial public offering on the Nasdaq Global Market. The company raised an additional $22 million (US$17.9 million) in proceeds from the offering's greenshoe option, bringing total proceeds to about $174 million (US$137.9 million). Its shares began trading on Nasdaq earlier this month under the symbol "CMTA". Founded in 2010, Clementia has been backed by BDC Capital, Fonds de solidarité FTQ, Janus Henderson Investors, OrbiMed Advisors and New Enterprise Associates.
2 min read · 22 August 2017
Helios Wire, a Vancouver developer of a satellite-based Internet of Things (IoT) system, has secured about $5 million (US$4 million) in funding. The round's investors were not disclosed. Founded in 2016, Helios Wire is building a satellite-enabled monitoring and messaging service designed for market applications requiring low bandwidth and low service costs. Scott Larson, the startup's CEO and co-founder, said the goal is to ensure that "companies and organizations, regardless of size, are able to participate in the enabling technologies of IoT, particularly in the industrial sectors." The funds raised will support the launch of the first two satellites.
3 min read · 22 August 2017
Tulip Retail, which makes an app for retailers, said this week it raised US$40 million ($50 million) in a funding round led by Kleiner Perkins Caufield & Byers. The Series B, which included existing investors such as Jump Capital, gives Kleiner Perkins' general partner, Mood Rowghani, a seat on the startup's board. Founded in 2013, Toronto-based Tulip has developed an app that helps retailers tailor in-store experiences by giving store employees faster access to real-time inventory and price comparison data among other things. Tulip said it was seeing rising demand in Europe, South America and Asia, and planned to open offices in these markets. "The main thing that we've been delaying at Tulip that now we can accelerate is our international growth," Tulip CEO Ali Asaria told Reuters.
2 min read · 22 August 2017
Immersv Inc, a U.S. interactive advertising platform, has raised US$10.5 million in a Series A financing. The round was led by Rogers Venture Partners (RVP), the venture capital arm of Canadian communications and media business Rogers Communications Inc. It was joined by Foundation Capital, The Venture Reality Fund, Initial Capital, East Ventures, HTC Vive and GREE, among other investors. With the round, RVP General Partner Paul Sestili joined the board. Founded in 2015, Emeryville, California's Immersv has developed technology that helps advertisers connect with consumers through interactive mobile 360 and virtual reality.
3 min read · 18 August 2017
Sunil Sharma has joined Techstars as managing director of the U.S. technology accelerator’s new program in Toronto. Earlier in 2017, Boulder, Colorado-based Techstars agreed to partner with Real Ventures in establishing a permanent presence in Toronto, giving the firm access to startup opportunities in the Toronto-Waterloo corridor. Sharma joins the organization from Extreme Venture Partners (EVP), a Canadian early-stage venture capital firm, where he served as managing partner of the accelerator program. Techstars Toronto's first class will run in 2018.
3 min read · 18 August 2017
