Private Equity
Whitby, Ontario-based cloud incentives software platform 360insights has secured $30 million in growth equity funding. U.S. private investment firm Sageview Capital led the round and was joined by the company's existing investors, which include OMERS Ventures, Klass Capital, Leaders Fund and Export Development Canada. As a result, Sageview Partner Dean Nelson has joined the board of directors. Founded in 2008 by CEO Jason Atkins, 360insights is focused on helping brands to optimize their partner marketing and consumer incentive spend. It will use the funds raised to strengthen its technology and pursue new market opportunities.
3 min read · 19 October 2016
KodaCloud Inc announced it has come out of stealth and closed a Series A financing. No financial terms were released; however, one of the round's investors, Canadian venture capital firm Celtic House Venture Partners, confirmed the round's value as US$10 million. Celtic House, which has backed KodaCloud since an initial investment in 2013, was joined in the Series A round by Comcast Ventures and Voyager Capital. Campbell, California-based KodaCloud provides cloud service Wi-Fi powered by artificial intelligence that helps reduce cost and network complexities for enterprise customers. It has an office in Ottawa.
5 min read · 18 October 2016
The Business Development Bank of Canada (BDC) has developed a benchmarking tool to help Canadian small and medium-sized enterprises (SMEs) compare themselves against industry peers and identify new ways to improve their productivity. The tool, developed in collaboration with Statistics Canada, was launched following a new BDC study that found just 6 percent of SMEs in Canada comprehensively measure and benchmark their productivity. That's despite the fact that eight in 10 entrepreneurs view such measures as important.
4 min read · 18 October 2016
Ortho Regenerative Technologies Inc (Ortho RTI) has appointed Dr. Brent Norton as its executive chairman and acting CEO. He succeeds Edward Margerrison, who is leaving for a new position. Norton joins Ortho RTI from Canadian life sciences venture capital firm Lumira Capital, where he served as a venture partner. He also worked as a senior executive and director for several life sciences companies. Kirkland, Québec's Ortho RTI is a developer of technology products that treat unmet needs in the orthopaedic market.
3 min read · 18 October 2016
Metamarkets, a U.S. provider of interactive analytics for programmatic marketing, has secured a credit facility of US$14.25 million. The deal was led by Canadian specialty finance firm Wellington Financial and joined by City National Bank. Metamarkets said the funds raised will help expand its engineering team and facilitate additional investment in its real-time data processing infrastructure. Founded in 2010, San Francisco-based Metamarkets is backed by several U.S. venture capital firms, including Khosla Ventures, Data Collective, IA Ventures, Village Ventures, True Ventures and Founder Collective.
3 min read · 18 October 2016
Employee communications software company PostBeyond Inc has raised $750,000 from Canadian venture capital firm Plaza Ventures, bringing the company's previously announced Series A financing to $4.75 million. Plaza joins Information Venture Partners and Export Development Canada in closing the round. PostBeyond, which helps employees to share corporate content on social media, said the proceeds would be used in part to open a new office in Toronto, as well as two new offices overseas. The company was founded three years ago by CEO Ivan Tsarynny and CTO Vitaliy Lim.
3 min read · 18 October 2016
Identity authentication solutions provider SecureKey Technologies Inc has raised $27 million in follow-on funding. The round's backers include the Bank of Montreal, Bank of Nova Scotia, CIBC, Desjardins, Royal Bank of Canada and TD Bank. They are partnering with the company to accelerate the commercial rollout of a privacy-enhancing digital identity network. Toronto-based SecureKey also announced that Founder Greg Wolfond has returned as CEO to oversee the initiative. SecureKey has previously raised funds from venture capital firms, including Blue Sky Capital and Rogers Venture Partners, which led its $19 million round in early 2015.
4 min read · 18 October 2016
Mio Global, a Canadian sports and fitness technology company, has raised about $20 million (US$15 million) in a Series B financing. The round was led by Hydra Ventures, the corporate venturing arm of Germany's Adidas AG, and joined by private investors. Founded in 2000 by CEO Liz Dickinson, Vancouver-based Mio Global is a developer of wearable fitness products. It said it plans to use the funds raised to bring its personal health metric device and Mio SLICE, the next generation of Mio's wrist-based heart rate sensors and activity trackers, to market. The investment will also support further technology enhancements.
4 min read · 18 October 2016
Personalized health platform Newtopia Inc has raised $10 million in a Series A financing. The round was led by a syndicate of U.S. and Canadian investors, including Bloom Burton & Co, an investment banking firm specializing in the health sector. Bloom Burton previously invested in the company in late 2014. Based in Toronto and New York, Newtopia uses genetic testing and behavioural science to build personalized disease prevention plans for the workplace. It plans to use the funds raised to expand its geographic reach in the United States. Founded in 2008 by CEO Jeff Ruby, Newtopia's other investors have included BDC Capital.
4 min read · 18 October 2016
Canadian venture capital firm Quark Venture and GF Securities Co Ltd, a Chinese investment bank, have launched a US$500 million health sciences fund. The fund, which held an initial close of US$100 million, will invest in global biotechnology and health sciences companies. Karimah Es Sabar, recently named Quark's CEO and partner, said it will focus on building a portfolio of "game-changing innovations in drug development, medical devices, health IT and emerging convergent technologies." Quark earlier this month led the US$30 million financing of Vancouver's MSI Methylation Sciences Inc.
3 min read · 17 October 2016
