Private Equity
Big Viking Games has bought Gallop Labs, a Toronto-based mobile marketing platform that leverages data and behavioral analytics. The acquisition's value was not disclosed. Big Viking Games, a Canadian developer of free-to-play social and mobile games, said Gallop Labs' "proven track record of turning data into actionable audience insights" will help the company provide more rewarding gameplay experiences. Founded in 2013, Gallop Labs raised seed financing from several venture capital firms, including Golden Venture Partners and Mantella Venture Partners, and angel investors, including Albert Lai, Big Viking Games' Co-Founder and CEO.
2 min read · 27 January 2016
Pelorus Venture Capital, manager of Venture Newfoundland and Labrador, has invested $750,000 of fund capital in three companies. They include Sentinel Alert, a safety software provider, which raised $525,000 in total seed funding. Pelorus also backed Clockwork Fox Studios, a developer of educational games and technologies, and HeyOrca, a provider of social media content planning and approval solutions. All three companies are based in St. John’s. Venture Newfoundland and Labrador was launched in late 2014 to invest in local entrepreneurs and startups.
4 min read · 27 January 2016
Kensington Venture Fund, a venture fund of funds managed Canadian alternative assets firm Kensington Capital Partners, has made a commitment to the eleventh fund of Sierra Ventures, a San Mateo, Calif.-based venture capital firm. Sierra Ventures Fund XI recently closed at an oversubscribed US$170 million. Like its predecessors, Fund XI will invest in early-stage companies targeting enterprise and consumer technology markets. In mid-2015, the Kensington fund raised $237 million of its $300 million target in a third close.
2 min read · 27 January 2016
MaRS Discovery District, Communitech, the University of Waterloo's Velocity, the C100 and RBC have teamed up to launch Canada House, a new Silicon Valley hub for visiting Canadian technology entrepreneurs. Based in San Francisco, Canada House will as of January 27th provide later-stage startups partnering with sponsor organizations with a short-term co-working space. The aim is to give startups more opportunities for raising capital and meeting potential customers.
5 min read · 27 January 2016
Juniper Networks Inc (NYSE: JNPR) has agreed to acquire BTI Systems Inc, an Ottawa-based provider of cloud and metro networking services. No financial terms were released about the deal, which is expected to close in the second quarter of 2016. Sunnyvale, Calif.-based Juniper, a networking equipment maker, said the acquisition will allow it to accelerate the delivery of open and automated packet optical transport solutions. Founded in 2000, BTI Systems has raised nearly US$122 million in funding, according to Crunchbase. Its investors include Bain Capital Ventures, BDC Capital, Covington Capital, Difference Capital Financial, Kodiak Venture Partners and Wellington Financial.
2 min read · 27 January 2016
Sentinel Alert, a Canadian sensor-based safety technology provider, has raised $525,000 in seed-stage funding. Pelorus Venture Capital, the manager of Venture Newfoundland and Labrador, invested in the round alongside private equity firm Killick Capital. St. John’s, N.L.-based Sentinel Alert has developed a software solution which uses wearable device technology to improve job safety and reduce costly accidents. Its seed funding will be used to grow the company's staff and operations throughout Canada and the United States over the next year. Sentinel Alert was founded in 2014 by CEO Sarah Murphy and CTO Jason Janes.
2 min read · 27 January 2016
Whitby, Ontario-based 360incentives, a channel marketing software provider, has raised $10 million in follow-on financing. Leaders Fund, a recently launched enterprise software venture capital fund, and Economic Development Canada led the round. The company's existing investors OMERS Ventures, leader of its $7.65 million funding round in early 2013, and Klass Capital also participated. Founded in 2008, 360incentives' software platform assists brands in creating, measuring and managing their incentives programs, such as sales incentives, rebates and co-op/mdf initiatives. It will use its new funds to further develop the platform. 360incentives is also backed by Round 13 Capital.
3 min read · 27 January 2016
Canadian mobile games company icejam Games Inc has secured $3 million in seed-stage financing. The deal, which brings icejam's total funding to $3.5 million, saw an investment from Canadian venture capital firm Build Ventures. As a result, Build Ventures GP Patrick Keefe has joined the company's board of directors. Icejam’s technology integrates real-time, real-world data streams into the mobile game to enhance gameplay. It plans to use the new funds to build out platform capabilities and prepare for market introduction. Charlottetown, P.E.I.-based icejam was founded in 2014 by CEO Stuart Duncan.
3 min read · 27 January 2016
San Francisco-based AppDirect has acquired Radialpoint, a Canadian tech support provider that has been backed for nearly eight years by U.S. private equity firm TA Associates. It is the fifth acquisition of AppDirect, a cloud service commerce platform founded in 2009 by Montréal-born entrepreneurs Daniel Saks and Nicolas Desmarais.
3 min read · 27 January 2016
EnerTech Capital, a venture capital firm with offices across Canada, has been named "Financial Investor of the Year" as part of the 2015 Global Cleantech 100 program. The award, which was accepted by EnerTech Managing Director Wally Hunter, is extended to investors with the highest share of Global Cleantech 100 companies in a given year's list. EnerTech is currently investing from its fourth energy and power venture fund, which raised $120 million in 2013. The Global Cleantech 100 program is produced by San Francisco-based Cleantech Group.
4 min read · 26 January 2016
