Private Equity
The National Angel Capital Organization today released its 2014 angel activity report based on a survey of Canadian angel groups, which represents more than 1,700 individual investors. A total of 237 angel investments were completed last year for a combined $90.5 million of financing. This constituted a 19 percent increase over the 199 deals reported in 2013, but dollars invested saw little change year-over-year, going up only 2 percent.
5 min read · 29 June 2015
Unbounce Marketing Solutions, a landing page platform developer, announced today that it has acquired Rooster Engagement Tools, a developer of tools to convert abandoning visitors online. Both companies are based in Vancouver. Unbounce has been venture-backed since 2011 by Version One Ventures, Real Ventures and Atlas Ventures, among others. Financial terms were not disclosed.
2 min read · 29 June 2015
Xactly, a San Jose, Calif.-based provider of cloud-based incentive compensation software, has successfully priced its US$56.3 million IPO and began trading on the NYSE on Friday. Xactly has been venture-backed by several U.S.-based investors since 2005, and has been a portfolio company of Toronto-based Wellington Financial since 2013.
2 min read · 29 June 2015
Amazon has launched its US$100 million Alexa Fund focused on voice technology companies, and has announced seven initial investments. Vancouver-based Mojio, a developer of a range of apps for vehicles, is among Amazon's investments. The company recently raised $8 million in Series A funding from Canadian venture capital firms Relay Ventures and BDC Capital, among others. Financial terms were not disclosed.
7 min read · 29 June 2015
Tesora, a U.S. cloud database-as-a-service platform, has raised US$4.5 million in funding. The follow-on round, which brings the company's total financing to US$13.2 million, included new investor Rho Canada Ventures, the Canadian affiliate of Rho Capital Partners. It was joined by existing investors General Catalyst Partners, CommonAngels Ventures, Point Judith Capital and angel investors. With the deal's closing, Rho Canada Partner Sean Brownlee joined Tesora's board of directors. The Cambridge, Massachusetts-based company was founded by CEO Ken Rugg and CTO Amrith Kumar in 2010.
3 min read · 25 June 2015
Espial Group has acquired Bluestreak Technology Inc, a Montréal-based software and services provider of video solutions for connected devices, including set-top boxes, smart TVs, smartphones and tablets. The deal, the financial terms of which were not disclosed, includes the company's operations in Paris. Founded in 2002, Bluestreak has been backed by a number of Canadian and U.S. venture capital firms and other investors. They include BDC Capital, Entrepia Ventures, First Capital Group, the Fonds de solidarité FTQ, Iris Capital and Wellington Financial. With headquarters in Ottawa, Espial is supplier of digital TV and Internet protocol TV software and solutions.
4 min read · 25 June 2015
Canadian online lending platform Mogo Finance Technology Inc has completed its initial public offering, raising gross proceeds of $50 million. The company's common shares will begin trading today on the Toronto Stock Exchange under the symbol "GO." David Feller, founder and CEO of Mogo, said the public sale is "a major milestone" that will provide the business "with additional capital to fuel continued growth." Based in Vancouver, Mogo provides consumers with a range of credit solutions, including loans and pre-paid credit cards. It has received funding from a number of private equity and venture capital firms, including Difference Capital and the credit arm of Fortress Investment Group.
4 min read · 25 June 2015
Canadian pharmaceutical company Highland Therapeutics Inc has secured US$50 million in financing. The deal includes a US$25 million equity investment by Eastern Capital, a Cayman Islands life sciences investor, as well as a US$25 million credit facility provided by Citibank NA. Highland Therapeutics, which is based in Toronto, said the deal's proceeds will be used to complete clinical development of its lead drug products, secure manufacturing capacity, engage in pre-marketing and medical education activities, and pursue pipeline expansion opportunities. Founded in 2008, the company is a client of Canadian innovation hub MaRS Discovery District.
4 min read · 24 June 2015
Farm At Hand Inc, a Vancouver-based provider of cloud-based farm management software, has formed a board of advisors in preparation for its Series A round. The company has named Kevin North, CEO of Terapeak, as the first board member who will provide advice on fundraising, global expansion and monetization activity. Founded in 2012 by Himanshu Singh and Kim Keller, Farm At Hand currently serves more than 21,000 farms on five continents. A portfolio company of Canadian accelerator HIGHLINE, it received initial funding from an undisclosed source in 2014, according to Thomson Reuters' database.
3 min read · 23 June 2015
Jelli Inc, a U.S. cloud-based programmatic ad platform, has secured US$21 million in a Series B financing. Investors in the round included Canadian venture capital firm Relay Ventures, as well as Intel Capital, First Round Capital, iHeartMedia and Universal Music Group. Based in San Mateo, California, Jelli has developed technology that facilitates the buying and running of audio advertising. Founded in 2008, the company has raised US$37.6 million in funding to date.
2 min read · 23 June 2015
