Private Equity
Opsens Inc (TSX-V: OPS), a Québec City-based maker of fiber optic sensors, has obtained gross proceeds of about $5 million in a private placement transaction. The lead investor was Lumira Capital, a Canadian life sciences venture capital firm. Founded in 2003, Opsens has developed technology that is mainly focused on the measure of fractional flow reserve in interventional cardiology. Its optical-based pressure guidewire, called OptoWire, aims at improving results for patients with coronary artery disease. The company plans to use funds raised to execute its sales and marketing strategy and support continued research and product development.
3 min read · 17 May 2016
Canadian web development platform PerfectlySoft Inc has secured $1.2 million in a seed-stage financing. The round was led by Impression Ventures, a Canadian venture capital firm. Headquartered in Newmarket, Ontario, PerfectlySoft is the creator of Perfect, a server-side Swift development framework that helps full-stack mobile developers to streamline their projects. The startup plans to use the proceeds of the seed round to scale its team and technology infrastructure, and to continue introducing its product to markets. Founded last year, PerfectlySoft is led by CEO Sean Stephens. Last October, Impression led the seed funding of HonkMobile.
3 min read · 17 May 2016
Q4 Inc, formerly known as Q4 Web Systems Inc, has closed a $22 million Series B financing, bringing the company's total funding so far to $30 million. Investors in the Series B round included OpenText Enterprise Apps Fund, Information Venture Partners, HarbourVest Partners, Emerillon Capital and Kensington Capital Partners. Plaza Ventures, which led Q4's Series A round in February 2015, also invested, as did Accomplice. Founded in 2006, Toronto-based Q4 is a software-as-a-service platform focused on communication and intelligence solutions for the investor relations market. It said funds raised will be used to expand the company's engineering, sales and marketing teams. Q4 has offices in Chicago and New York.
5 min read · 17 May 2016
Q4 Inc, formerly known as Q4 Web Systems Inc, has closed a $22 million Series B financing, bringing the company's total funding so far to $30 million. Investors in the Series B round included OpenText Enterprise Apps Fund, Information Venture Partners, HarbourVest Partners, Emerillon Capital and Kensington Capital Partners. Plaza Ventures, which led Q4's Series A round in February 2015, also invested, as did Accomplice. Founded in 2006, Toronto-based Q4 is a software-as-a-service platform focused on communication and intelligence solutions for the investor relations market. It said funds raised will be used to expand the company's engineering, sales and marketing teams. Q4 has offices in Chicago and New York.
5 min read · 17 May 2016
U.S. venture capitalists are raising money at the fastest rate in a decade, raking in about US$13 billion in the first quarter of 2016, Reuters reported. But much of that cash won’t flow into new startups anytime soon. Rather, venture firms are bracing for a downturn and boosting reserves to keep companies they have already backed from going bust, said venture capitalists and limited partners.
5 min read · 13 May 2016
The parent of TeraGo Networks Inc has agreed to acquire the international hosting business of AirVM Inc, an Ottawa-based cloud management platform. No financial terms were released for the deal, which is expected to close this month. TeraGo, a Toronto-based provider of Internet, co-location and cloud services, said the acquisition will give it expanded infrastructure-as-a-service offerings from locations in the United States and the United Kingdom, as well as new employees, customers and partners. AirVM raised $8 million in a Series A financing last August. The round was led by RHO Canada Ventures and joined by Build Ventures and Wesley Clover International.
4 min read · 13 May 2016
The parent of TeraGo Networks Inc has agreed to acquire the international hosting business of AirVM Inc, an Ottawa-based cloud management platform. No financial terms were released for the deal, which is expected to close this month. TeraGo, a Toronto-based provider of Internet, co-location and cloud services, said the acquisition will give it expanded infrastructure-as-a-service offerings from locations in the United States and the United Kingdom, as well as new employees, customers and partners. AirVM raised $8 million in a Series A financing last August. The round was led by RHO Canada Ventures and joined by Build Ventures and Wesley Clover International.
4 min read · 13 May 2016
G1 Therapeutics Inc has raised US$47 million in a Series C financing. The round was led by Cormorant Asset Management with participation from new and existing investors, including Canadian life sciences venture capital firm Lumira Capital. Lumira also invested in the company's Series B round in early 2015. Based in Research Triangle Park, North Carolina, G1 Therapeutics is a developer of novel, small-molecule therapies that help address unmet needs in people with cancer. It plans to use funds raised to advance the clinical development of its lead drug candidate and compound, and grow its pipeline in multiple oncology indications.
2 min read · 12 May 2016
G1 Therapeutics Inc has raised US$47 million in a Series C financing. The round was led by Cormorant Asset Management with participation from new and existing investors, including Canadian life sciences venture capital firm Lumira Capital. Lumira also invested in the company's Series B round in early 2015. Based in Research Triangle Park, North Carolina, G1 Therapeutics is a developer of novel, small-molecule therapies that help address unmet needs in people with cancer. It plans to use funds raised to advance the clinical development of its lead drug candidate and compound, and grow its pipeline in multiple oncology indications.
2 min read · 12 May 2016
Toronto-based Revlo has launched its fan engagement platform on Twitch with the help of $1.12 million in seed-stage financing. Canadian and U.S. investors in the round included YCombinator, Extreme Venture Partners, Tandem Capital, Monstercat, 1517 Fund and Hedgewood. Revlo's technology allows e-sports streamers to better connect, engage, and monetize their fan base. While in beta, the company said it enabled 15,000 broadcasters to interact with an audience of more than 5 million viewers per month. Revlo was founded last year by CEO James Sun, Head of Product Julie Topp and Head of Engineering Adam Hueniken.
4 min read · 11 May 2016
