Private Equity
Resolver Inc, a Toronto provider of risk and incident management software, has raised an additional $20 million, bringing its total funding to $40 million. Canadian private equity firm Klass Capital, which acquired the business in 2015, invested in the latest round. Resolver said the funds raised will be used for acquisitions to expand product capability in the information security market. Daniel Klass, Resolver’s chairman and founder of Klass Capital, said the company has shown consistent recurring revenue growth of 30 percent over the past two years. In 2016, Resolver bought the risk management product suite of New Zealand's Wynyard Group Ltd.
3 min read · 27 June 2017
Fredericton cybersecurity startup Beauceron Security Inc has raised more than $500,000 in a seed-stage financing. The round was led by East Valley Ventures and Mariner Partners and joined by New Brunswick Innovation Foundation. Founded last year by CEO David Shipley, COO Benjamin Steeves and CTO Sean McDougall, Beauceron has developed a software platform to measure, manage and monitor cyber risk. It has already attracted 11 Canadian and U.S. customers in a range of sectors. Beauceron was incubated at the University of New Brunswick's Energia Ventures.
5 min read · 27 June 2017
Vancouver big data warehouse company PHEMI Inc has raised $10 million in follow-on financing. CTI Life Sciences Fund, BDC Capital and Yaletown Partners, which participated in PHEMI's $12.2 million Series A financing in 2015, co-led the latest round. They were joined by new investors Quark Venture and GF Securities Co Ltd. Founded in 2013, PHEMI helps data-driven businesses in life sciences and other sectors to unlock and share information without compromising privacy. Led by CEO Paul Terry, the company will use the funds raised to expand commercialization through expanded sales and marketing and outreach into emerging vertical markets.
3 min read · 27 June 2017
Computational fluid dynamics (CFD) solutions provider Envenio Inc has raised $1.3 million in financing. Canadian venture capital firm Celtic House Venture Partners, Green Century Investment and New Brunswick Investment Fund (NBIF) were the round's investors. Launched in 2010, Fredericton-based Envenio is the creator of EXN/Aero, an on-demand, cloud-hosted CFD software tool that enables rapid, high-accuracy engineering and scientific computer simulations. Led by CEO Ian McLeod, it plans to use the funds raised to expand its sales and engineering teams and advance its global strategy. Celtic House Partner Tom Valis has joined the company's board.
4 min read · 23 June 2017
U.S. media intelligence services provider Meltwater has acquired Infomart, the media monitoring and analytics platform of Canadian publisher Postmedia Network Canada Corp (TSX: PNC.A/B). In a separate statement, Postmedia said the deal's purchase price is $38.25 million. It is expected to close in August. Meltwater, which is based in San Francisco, said the transaction will expand its presence and offering in North America. The company earlier this year closed a US$60 million debt financing with Silicon Valley Bank and Vector Capital to support its acquisition strategy. Postmedia in 2016 struck a deal with bondholders to reduce its debt.
3 min read · 23 June 2017
The Fonds de solidarité FTQ disclosed an investment of about $11.6 million (US$8.75 million) in Repare Therapeutics Inc, a Montréal developer of precision oncology drugs that target specific vulnerabilities of tumour cells. The investment formed part of Repare's $90 million (US$68 million) Series A financing, co-led by Versant Ventures and MPM Capital. The Fonds said the deal is part of its life sciences strategy. The strategy combines commitments to funds like Versant Venture Capital VI, which raised US$400 million earlier this year, and direct investments.
3 min read · 22 June 2017
Export Development Canada has provided a $6.5 million contract financing credit facility to Corvus Energy Inc, a Canadian designer and maker of energy storage systems and lithium-ion battery solutions for hybrid and electric marine applications. The funds raised will allow the company to fulfill export contracts, primarily for hybrid ferries in Europe. Founded in 2009, Richmond, British Columbia-based Corvus has secured financing from Statoil Technology Invest, the venture capital arm of Norwegian energy company Statoil ASA, and Green Marine Capital.
3 min read · 22 June 2017
Canada’s life sciences sector is on a roll. Current levels of venture capital investment are unprecedented. This week another major deal was announced, with Repare Therapeutics, a Montréal developer of precision oncology drugs, securing about $90 million in a Series A financing. One of the sector’s other big stories is the IPO of biotherapeutics provider Zymeworks. The company, which last month raised about $86 million on the Toronto and New York exchanges, is now being talked about as Canada’s next biotech anchor company.
4 min read · 22 June 2017
Mediagrif Interactive Technologies Inc (TSX: MDF) has agreed to acquire substantially all of the assets of Orckestra Inc, a Montréal provider of digital unified and omnichannel commerce solutions for the retail and manufacturing industry. No financial terms were disclosed for the deal, which is expected to close this month. Mediagrif, a Canadian information technology business, said the acquisition will help it gain a footprint in the digital retail sector. Founded in 2006, Orckestra is backed by Fonds de solidarité FTQ, Fondaction CSN and W Investments. Including its Series B financing, closed in 2015, the company raised about $20 million.
3 min read · 21 June 2017
Calgary biotechnology company Resverlogix Corp (TSX: RVX) has closed a $10 million equity offering. Eastern Capital and Shenzhen Hepalink Pharmaceutical Co Ltd, existing investors in the company, accounted for most of the funding. The deal increases Eastern's stake to up to 26.3 percent of outstanding shares, and Hepalink's stake to up to 14.9 percent. The offering's proceeds will be used by Resverlogix to fund research and clinical trial activities related to its treatments for cardiovascular disease and other conditions, among other priorities. Founded in 2001, the company is also backed by U.S. venture capital firm NGN Capital.
5 min read · 21 June 2017
