Private Equity
Allocadia, a Canadian marketing performance management platform, has secured US$16.5 million ($22 million) in Series B financing. The round was led by U.S.-based Susquehanna Growth Equity and joined by existing investors iNovia Capital, Altos Ventures, Nanon de Gaspé Beaubien-Mattrick of Beehive Holdings, Illuminate Ventures, Don Mattrick, and Norm Francis of Boardwalk Ventures. Vancouver-based Allocadia currently serves more than 150 companies and thousands of users worldwide, and manages over $1 billion in its cloud software platform. It said it will use the new funds to accelerate product innovation, drive channel investments, expand its team, and advance other priorities.
3 min read · 02 December 2015
New York-based marketing automation software provider Bluecore Inc has raised US$21 million in a Series B financing. Canadian growth equity firm Georgian Partners led the round, with participation from existing investors FirstMark Capital and Felicis Ventures. Founded in 2013, Bluecore, formerly known as TriggerMail, is focused on changing the way e-commerce marketers use data and automation to communicate with customers. Today, the company reports having more than 160 customers representing over 180 brands. Georgian Partners closed its second applied analytics fund at $200 million in April.
2 min read · 02 December 2015
Wealthsimple Financial Inc has bought Canadian ShareOwner Investments Inc, an automated investment manager. No financial terms were released. Wealthsimple, a Toronto-based online investment manager, said the acquisition creates the only automated investing service that administers an end-to-end investment experience for clients. Launched in 2014, Wealthsimple today manages over 10,000 clients and some $400 million in client assets. Earlier this year, it entered into a partnership with Power Financial Corp that will result in up to $30 million in funding. Wealthsimple is also backed by Impression Ventures and several angel investors.
3 min read · 02 December 2015
Montréal-based Fresche Legacy, a legacy management platform, has secured $7.8 million in funding. The investors were the Fonds de solidarité FTQ and its regional fund in Montréal. Fresche Legacy, formerly known as Speedware, provides solutions to organizations that are seeking to modernize and extend the life of legacy applications running on IBM Power Systems. It plans to use the investment's proceeds to fuel continued organic growth. The company recently completed several acquisitions, including looksoftware in 2014 and Databorough in 2013, and sees additional opportunities in consolidation of the global modernization solutions market.
3 min read · 02 December 2015
Mobify, a Canadian mobile commerce and engagement platform, has acquired Dónde, a Chicago-based provider of location-aware mobile technology. No financial terms were released. Mobify, which has its headquarters in Vancouver, said the combination of Dónde's technology with its own will impact mobile commerce offerings and create a more integrated in-store and online shopping experience. Founded in 2013, Dónde secured funding from a number of U.S. angel investors and early-stage venture capital firms, including Chicago Ventures, Mercury Fund and Vince Street Ventures.
5 min read · 01 December 2015
A Canadian startup backed by one of BlackBerry's founders has unveiled a technology for tracking wireless signals that it says can be used for detecting intruders, managing crowds or finding victims of natural disasters, Reuters reported. Cognitive Systems Corp, backed by Mike Lazaridis' Quantum Valley Investments, said its Amera technology senses motion in physical space by detecting small changes in the wireless signals that invisibly connect smartphones and other devices to broader networks.
2 min read · 01 December 2015
TIMIA Capital Corp, previously known as GreenAngel Energy Corp, has sold its equity position in dPoint Technologies Inc, a Canadian developer of membranes and heat and humidity exchangers for energy recovery in buildings. TIMIA will realize proceeds of about $1.03 million with the recent acquisition of dPoint by Switzerland's Zehnder Group AG. Based in Vancouver, TIMIA is a provider of financing to Canadian technology companies in exchange for a royalty on revenue.
3 min read · 01 December 2015
Vancouver-based financial technology startup progressa has raised $11.4 million in Series A financing. The round, comprised of equity and debt, was co-led by Cypress Hills Partners, a Canadian boutique merchant banking firm, and Conconi Growth Partners, a Canadian family office. Founded in 2013, progressa is an alternative lender focused on helping consumers resolve their overdue bills or other outstanding debts. With the close of its Series A round, the company plans to grow its consumer loan portfolio and strengthen its position in the Canadian online and peer-to-peer lending space. It will introduce a new marketplace investor platform early next year.
4 min read · 01 December 2015
BDC Capital Fund of Funds played an essential role in this year’s revival of venture fundraising in Canada. For the group’s head, BDC Vice President Neal Hill, that’s just the beginning. BDC’s funds group plans to increase its annual commitments to $100 million or greater, with a portion of the money earmarked for larger-sized Canadian venture capital funds.
3 min read · 30 November 2015
Canadian venture capital firm Klass Capital has partnered with management to acquire a controlling interest in Docebo SpA, an Italian provider of cloud-based corporate learning management solutions. The deal, the value of which was not disclosed, saw Klass buy the shares of Principia SGR, an Italian venture capital firm, and make an additional growth equity investment in the company. This follows an initial US$3 million investment made by Klass in February and its purchase of shares held by Seeweb in July. Docebo said it has experienced triple digit growth of late, adding over 10 enterprise customers per month.
3 min read · 30 November 2015
