Private Equity
Canadian growth equity firm Georgian Partners said it has led the Series B financing of PrecisionLender, a U.S. provider of SaaS solutions that help banks manage pricing, understand relationship profitability, and construct better credit portfolios. The undisclosed deal gave Georgian a minority interest. It is intended to help PrecisionLender build on its existing technology and develop its applied artificial intelligence and machine-learning capabilities, Georgian said. Charlotte, North Carolina-based PrecisionLender received a minority investment from the private equity group of Century Capital Management in 2014.
3 min read · 23 September 2016
Canadian growth investor Vistara Capital Partners, which raised its inaugural fund last year, has provided a growth capital facility to U.S. car-sharing marketplace Getaround Inc. No financial terms were released. San Francisco-based Getaround, founded in 2009, has developed connected car technology that enables on-demand rentals of automobiles from owners. Funds raised from Vistara will help the company to expand across the United States and in global markets. Getaround is backed by several venture capital investors, including Menlo Ventures, Triangle Peak Partners and Cox Automotive.
2 min read · 23 September 2016
Canadian public transportation app Transit, formerly known as Transit App, has obtained $2.4 million in follow-on financing, according to a post on the company's blog. New investors Accel Partners and Accomplice invested in the round, as did existing backers Real Ventures and BDC Capital. Montréal-based Transit, founded in 2012, said it wants to use the round's proceeds to invest in its technology and enhance the precision of its real-time transit data.
1 min read · 23 September 2016
The Fonds de solidarité FTQ has made an $8 million investment in District M, a Montréal-based digital media company that provides programmatic solutions to publishers and advertisers. The company's flagship product, Boost, allows publishers to maximize their online advertising revenues by monetizing all the impressions generated by visitors. Founded in 2013, District M is planning to expand domestically, in the United States, and elsewhere abroad. The funding provided by the Fonds will support that growth strategy via investments in technology and the recruitment of new talent.
3 min read · 23 September 2016
Tealium Inc, a U.S. provider of real-time customer data solutions and enterprise tag management, has obtained US$35 million in funding. The round, which follows the company's US$30.7 million Series D financing in February, was backed by existing investors. They include Canadian growth equity firm Georgian Partners, which led the Series D and reportedly led the latest deal. Tealium said the latter will support continued innovation, accelerate product integrations with mobile, IoT and offline sources, and expand its global footprint. Georgian Partners raised US$375 million for its third fund in August.
3 min read · 22 September 2016
Toronto-based medical device company XOR-Lab Inc has secured $2.85 million in follow-on financing. The round was led by Canadian early-stage investment firm Regenesis LP with participation from the company's existing backers, including Xenios AG and MaRS Innovation. Founded in 2011 as a spin-off from the Toronto General Hospital, XOR-Labs is developing technology that aims to repair previously unusable donor lungs and increase the number available for transplantation. It plans to use the funds raised to further develop its technology. XOR-Labs received a $2.6 million investment from Xenios last year.
3 min read · 22 September 2016
Silicon Valley venture capital firm Spectrum 28 has closed its first fund, Spectrum Fund I, at US$170 million. Co-founded by Partners Kent Ho and Lyon Wong, Spectrum plans to invest in finance, genomics-digital health, real estate-construction and other technology sectors. Wong, a graduate of the University of Waterloo's engineering program, recently helped launch a venture capital fund focused on student entrepreneurs. Spectrum said the partnership will allow it to contribute to growth in Canadian innovation hubs.
4 min read · 22 September 2016
Sonder, formerly known as Flatbook, has secured $10 million in a Series A financing, bringing its total funding to date to $15 million. U.S. venture capital firm Spark Capital led the Series A and was joined Thayer Ventures, Real Ventures, BDC Capital, and other investors. Founded in 2012, Montréal-based Sonder specializes in providing "hometel” rental services to travelers. The company currently offers more than 500 hometel locations in Canada and the United States. The funds raised will allow Sonder to focus on growth initiatives, such as expanding into new cities, enhancing the guest experience, and adding to its team.
3 min read · 22 September 2016
Canadian life sciences venture capital firm Quark Venture has appointed Karimah Es Sabar as CEO and partner. Previously, Es Sabar was the president and CEO of the Centre for Drug Research and Development, a Vancouver-based drug development and commercialization centre. Founded last year, Vancouver's Quark Venture provides equity financing to biotechnology and health sciences companies. To date, the firm has invested in Aurora Lifesciences Corp and Sitka Biopharma.
3 min read · 20 September 2016
Vancouver-based ELIX, a wireless charging technology provider, has secured US$5 million in Series A funding. Chongqing Zongshen Power Machinery Co Ltd, an affiliate of China's Zongshen Group, led the round. Founded in 2013 as a spin-out from the University of British Columbia, ELIX produces a wireless power transfer technology using magneto-dynamic coupling. The product is targeted to a wide range of industries. ELIX said the funds raised, and its partnership with Zongshen, will back development and manufacturing of its wireless chargers for Chinese and North American markets.
4 min read · 20 September 2016
