Private Equity
Sydney, Nova Scotia-based Ubique Networks Inc, developer of a lag-less gaming technology platform, has raised a pre-Series A financing round. The investment, which was not disclosed, was provided by Canadian venture capital firms Extreme Venture Partners (EVP) and Innovacorp. Launched last year, Ubique has created a network intelligence and optimization platform that reduces lag in multiplayer online games and e-sports. The company said that while it is currently focused on gaming, its technology can ultimately be applied to many sectors.
3 min read · 31 March 2016
Garena Interactive Holding Ltd, a Singapore-based Internet and mobile company, has closed a US$170 million Series D financing. The round was led by the Malaysian government's Khazanah Nasional Berhad. Khazanah joins existing investors in Galena, including Ontario Teachers’ Pension Plan, which has helped the company to raise over US$500 million to date. Ontario Teachers led Garena's prior financing round in March 2015. The company said the proceeds of the latest investment will help launch two new consumer product offerings to customers in Southeast Asia.
4 min read · 31 March 2016
SkySquirrel Technologies Inc, a provider of drone-based technology, has secured $1 million in financing. Canadian venture capital firm Innovacorp invested $500,000 in the round, with an undisclosed private investor accounting for the balance. Based in Halifax, SkySquirrel has developed unmanned aircraft for monitoring crop health, with a focus on improving crop yields and reducing costs at commercial vineyards. Founded in 2012, it currently sells products in Canada, France, Spain, Switzerland, Chile and China. SkySquirrel will use funds raised to enhance its technology and enter new markets.
2 min read · 31 March 2016
MapD, a big data analytics and visualization software company, has raised US$10 million in Series A financing. The round was led by Canadian venture capital firm Vanedge Capital, which also invested in MapD's seed round in October 2014. Vanedge was joined by GV, Nvidia and Verizon Ventures. Based in San Francisco, MapD has developed GPU-powered technology that brings speed and interactivity to the data exploration process. With the Series A round, the company marked the public release of its platform. As reported by PE Hub Canada, Vanedge earlier this year raised $104 million in the initial close of its second information technology fund, Vanedge II.
4 min read · 30 March 2016
Private equity and venture capital funds that invest primarily in developed and emerging markets turned in negative returns in the third quarter of 2015, according to Cambridge Associates LLC. At the same time, these funds managed to outperform public markets in those regions. Cambridge's ex US Developed Markets Private Equity and Venture Capital Index returned -0.6 percent for the quarter ending September 30th, as measured in US dollars. Its public market counterpart returned -10.2 percent over the same period.
7 min read · 30 March 2016
CLEARink Displays Inc, a developer of reflective display technology, has raised US$7 million in financing, and expects to raise an additional US$6 million in the months ahead. The investors in the initial round included Canadian venture capital firms Altus Ventures and CrossPacific Capital, as well as Chinese investors. CLEARink said the funds raised will help it commercialize its product in the areas of electronic shelf labels, wearable devices, and mobile devices. The Santa Clara, Calif.-based company conducts research and development in Canada and the United States.
3 min read · 30 March 2016
Canadian social media management platform Hootsuite has bought Sales Prodigy, a Vancouver-based mobile app that helps sales organizations tap into social selling opportunities. The deal's financial terms were not disclosed. Matt Switzer, vice president of corporate development at Hootsuite, said the acquisition will bolster the company's platform so it can address a current "big gap" in the market for social selling solutions. Founded in 2008, Vancouver-based Hootsuite has raised US$250 million in venture capital financing, including its US$60 million round in late 2014. Its backers include Accel Partners, Insight Venture Partners and OMERS Ventures.
3 min read · 29 March 2016
Canadian venture capital firm BDC Capital has invested $6.7 million in Wave, a Toronto-based provider of online financial tools for small businesses. The money came from BDC Capital's IT Venture Fund II, launched at $150 million last month, and was led by newly-appointed Partner Peter Misek, who will join Wave's board. The investment adds to the company's Series C financing, announced last May, which now totals $22.1 million. Charles River Ventures, OMERS Ventures, The Social+Capital Partnership, and an unidentified strategic investor also invested in the round. Founded in 2010, Wave plans to use all Series C funds raised to invest in innovation and development of its suite of tools.
3 min read · 29 March 2016
Canadian travel search startup Hopper Inc has secured $16 million in financing, bringing its total investment so far to $38 million. The round was led by BDC Capital IT Venture Fund, a fund managed by BDC Capital, and was joined by existing investors OMERS Ventures, Accomplice and Brightspark Ventures. Founded in 2007, Montréal-based Hopper has developed a mobile application that uses big data to predict and analyze airfare. Last year, it monitored fares for over 5 million watched trips worth over $4.5 billion in gross booking value. Hopper plans to use funds raised to support continued growth and hiring in its Montréal and Cambridge, Massachusetts offices.
2 min read · 29 March 2016
Cyberpost has secured about $2 million (US$1.5 million) in seed-stage financing. The private investors in the round were not disclosed. Based in Toronto, Cyberpost has developed video and virtual mail technology that allows consumers to pre-select products and services for which they would like to receive offers and information from businesses and other organizations. It plans to use the seed round's proceeds to accelerate the startup's growth, further develop its platform, and implement new marketing strategies.
4 min read · 28 March 2016
