Private Equity
WebsiteBox Corp, a Toronto website developer for realtors, has secured undisclosed debt financing from BDC Capital, an investment arm of Business Development Bank of Canada. WebsiteBox offers mobile-friendly real estate websites integrated with marketing automation capabilities and MLS listing data to industry professionals. Founded in 2013 by CEO Peyman Aleagha, it reports a current active user base of more than 25,000. The company said the funds raised will accelerate its revenue growth and solution offering.
3 min read · 02 March 2017
Toronto financial technology company Sensibill Inc has raised $17.3 million in a Series A financing. Canadian venture capital firms Information Venture Partners and OpenText Enterprise Apps Fund (OTEAF) led the round and were joined by Operative Capital, Mistral Venture Partners and Impression Ventures. As a result, Information VP's David Unsworth and OTEAF's Tony van Marken will join the board. Founded in 2013 by CEO Corey Gross and CTO Jamie Alexander, Sensibill is a software platform that allows banking customers to manage line-item receipts directly from desktop and mobile applications. The funds raised will support scaling of its solution.
4 min read · 02 March 2017
Cellulosic dextrose producer Comet Biorefining Inc has closed a follow-on equity financing. The undisclosed round was led by PM Equity Partner, the investment arm of Philip Morris International Inc. It was joined by Sofinnova Partners, which led the company's 2015 round, and Bioindustrial Innovation Canada. London, Ontario-based Comet develops industrial technology that converts agricultural residues into high-purity dextrose for the production of bio-chemicals. It said the funds raised will be used to advance commercialization of a second-generation dextrose plant and to construct an existing facility in Sarnia, Ontario.
4 min read · 02 March 2017
Canadian early-stage venture capital firm Real Ventures has partnered with Techstars to bring the U.S. technology accelerator's programs to Canada. Techstars will establish a permanent presence in Toronto, giving it access to startup opportunities in the Toronto-Waterloo corridor. The partnership with Real Ventures will give it access to opportunities in Montréal and the rest of the country. Application and program details for Techstars Toronto will be announced later this year. Founded in 2006, Techstars has operated more than 100 accelerator sessions globally, and now has more than 1,000 companies in its portfolio.
1 min read · 02 March 2017
Clean energy investment platform CoPower announced the first $2.5 million tranche of its $20 million issuance of green bonds is now available to individual investors. The first tranche is backed by two portfolios of loans to more than 150 LED lighting retrofit projects in condominiums in Ontario, British Columbia and Alberta. CoPower said it expects the next loans to be added to the portfolio will come from geoexchange heating and cooling projects in Québec and solar projects in Ontario. The bonds program was backed earlier this month with $1 million in financing from Vancity Capital Corp.
4 min read · 01 March 2017
Canadian workplace management platform WorkJam has secured nearly $16 million (US$12 million) in a first-time financing. The round was backed primarily by U.S. venture capital firms, including Lerer Hippeau Ventures, Blumberg Capital, Founder Collective and NovelTMT. Founded in 2014, Montréal-based WorkJam has developed an employee engagement solution aimed at enabling the mobile digital workplace for shift-based, hourly and non-desk workers. Led by President and CEO Steven Kramer, who previously co-founded iCongo, the company will use the funds raised to enhance its platform and accelerate global growth.
4 min read · 01 March 2017
U.S. private equity firm W Capital Partners and Canadian growth equity firm Georgian Partners have purchased shares from early investors in Vision Critical, a customer intelligence software platform. No financial terms were released for the secondary deal; however, the Globe and Mail reported $76 million of stock was acquired. The holdings of Dr. Angus Reid, whose 2002 investment facilitated the company's early growth, formed part of the deal. As a result, W Capital Managing Directors Alison Killilea and Blake Heston will join the board, replacing Reid. Georgian led Vancouver-based Vision Critical's last financing (2014), which raised $16 million.
4 min read · 28 February 2017
Electric vehicle charging solutions provider AddÉnergie Technologies Inc has raised public and private monies to research and install 1,000 new electric charging stations across Canada. AddÉnergie secured $6.7 million from Natural Resources Canada for the initiative and will itself invest $7.3 million. The rest will come from government and private partners. The Québec City-based company said the stations will be installed by 2019. Last year, AddÉnergie raised a $12.8 million investment from Caisse de dépôt et placement du Québec and Investissement Québec.
3 min read · 28 February 2017
Airex Energy Inc, a Laval, Québec-based developer of biomass torrefaction systems, has secured more than $10 million in follow-on financing. Canadian venture capital firms Cycle Capital Management and Desjardins-Innovatech, which have backed the company since 2014, invested in the latest round alongside TechnoClimat, Sustainable Development Technology Canada and other investors. Airex will use the funds raised to expand the commercialization of its CarbonFX technology, which converts biomass into biocoal, and to support new plant operations. Led by CEO Sylvain Bertrand, the company is a spin-off from Airex Industries Inc.
3 min read · 27 February 2017
TouchBistro, which in October closed a $17 million Series B financing, has partnered with Thinking Capital to offer restaurants "a quick and convenient way" to secure financing. TouchBistro said restaurant owners and operators using its point-of-sale app can apply for funding from Thinking Capital for working capital or to support growth. With offices in Montréal and Toronto, Thinking Capital is an alternative lender to small and medium-sized businesses. Toronto-based TouchBistro is backed by BDC Capital, Huff Capital, Kensington Capital Partners, Relay Ventures, Round13 Capital and other investors.
5 min read · 27 February 2017
