Private Equity
IMMUNIO said it raised $5 million of Series A financing, bringing its total funding to date to $8.3 million. The Series A round was led by White Star Capital and joined by existing investors. The latter include Bloomberg Beta, Hoxton Ventures and Real Ventures, which together helped to launch IMMUNIO with seed funding in April 2015. IMMUNIO, which is based in Montréal, is a provider of run-time application software protection for web applications. It said the funds raised, along with recent additions to the management team, will support the company's continued growth.
5 min read · 27 April 2016
The Fonds de solidarité FTQ has invested about $9.5 million (US$7.5 million) in DalCor Pharmaceuticals, a Montréal-based developer of precision treatments for cardiovascular disease. The investment formed part of the company's recently closed $100 million Series B financing. DalCor, which emerged from research conducted at Montréal Heart Institute, is led by CEO Robert McNeil, the founder of U.S. life sciences venture capital firm Sanderling Ventures. The Fonds committed US$30 million to Sanderling Ventures Fund VII in September 2013.
3 min read · 26 April 2016
Eigen Innovations Inc has raised $1.4 million in follow-on funding. The round's investors included New Brunswick Innovation Foundation (NBIF), BDC Capital and several angel investors. Based in Fredericton, New Brunswick, Eigen is a provider of vision systems, sensors, and software that increase the efficiency of manufacturing systems. Along with its fundraising, the company announced that Co-Founder and CTO Scott Everett has replaced Richard Jones as CEO. Jones will remain on Eigen's board of directors.
2 min read · 26 April 2016
TIO Networks Corp (TSX-V: TNC) has closed its buy of Softgate Systems Inc, a Fairfield, New Jersey-based provider of consumer retail bill payment solutions. The previously-announced deal, valued at about US$31 million, saw representatives of Softgate investors Edison Partners and Napier Park Global Capital join TIO's board. Silicon Valley Bank extended a US$5.7 million loan to TIO in connection with the acquisition. Based in Vancouver, TIO is a cloud-based bill payment processor. It said the Softgate deal creates North America's largest provider of walk-in bill payment services with a pro-forma revenue run-rate of over $105 million.
6 min read · 26 April 2016
ThinkCX Technologies Inc, a Canadian predictive analytics software company, has secured $1 million in seed-stage financing. The round was led by Vancouver Founder Fund with participation from new and existing angel backers. Founded in 2012, Langley, B.C.-based ThinkCX has developed technology that uses social intelligence to help companies optimize the value of subscription-based or recurring-billing customers. It will apply the round's proceeds to growth of a direct sales model, the launch of a channel distribution strategy, and support of R&D and plans for entering new markets.
4 min read · 22 April 2016
Vancouver-based native advertising startup Native Ads Inc has secured $4 million in financing. The investors include Beijing Genuine Network Media Technology Ltd. Native Ads said the proceeds of the deal will help develop its platform technology, Titan, which supports companies in automating, managing, and promoting their sponsored native content campaigns. Native Ads was founded in mid-2014 by President and COO Charlo Barbosa, CEO Jon Malach and Vice President, Finance, Ricardo Lara. Its U.S. office is in New York.
3 min read · 21 April 2016
Vancouver-based native advertising startup Native Ads Inc has secured $4 million in financing. The investors include Beijing Genuine Network Media Technology Ltd. Native Ads said the proceeds of the deal will help develop its platform technology, Titan, which supports companies in automating, managing, and promoting their sponsored native content campaigns. Native Ads was founded in mid-2014 by President and COO Charlo Barbosa, CEO Jon Malach and Vice President, Finance, Ricardo Lara. Its U.S. office is in New York.
3 min read · 21 April 2016
Toronto-based fabless semiconductor company Peraso Technologies Inc has received $20 million in a Series C financing. The round was co-led by U.S. semiconductor company Integrated Device Technology Inc and existing investor Roadmap Capital, a Canadian venture capital firm. Another existing Canadian investor, iNovia Capital, also participated. Peraso is a developer of multi-gigabit wireless connectivity solutions for consumer electronics and other markets. It said the funds raised will be used to increase capacity to address demand. Peraso has so far secured over $50 million in venture capital. Its other backers include Celtic House Venture Partners.
4 min read · 21 April 2016
Toronto-based fabless semiconductor company Peraso Technologies Inc has received $20 million in a Series C financing. The round was co-led by U.S. semiconductor company Integrated Device Technology Inc and existing investor Roadmap Capital, a Canadian venture capital firm. Another existing Canadian investor, iNovia Capital, also participated. Peraso is a developer of multi-gigabit wireless connectivity solutions for consumer electronics and other markets. It said the funds raised will be used to increase capacity to address demand. Peraso has so far secured over $50 million in venture capital. Its other backers include Celtic House Venture Partners.
4 min read · 21 April 2016
Canadian venture capital firm iNovia Capital has expanded its presence in the Toronto-Waterloo corridor with the hire of Sarah Marion as an analyst. Working from the firm's office in Waterloo, Marion will be responsible for tracking startup activity in the Kitchener-Waterloo and Toronto ecosystems. Marion was previously a senior researcher at the Lazaridis Institute for the Management of Technology Enterprises. Montréal-based iNovia Capital earlier this year raised $175 million in the final close of its fourth fund.
4 min read · 21 April 2016
