Private Equity
Peloton Technology, a developer of vehicle systems that deliver advanced safety, fuel savings and analytics to trucking fleets, has obtained US$16 million in a Series A financing. The round was led by DENSO International America and Intel Capital and was joined by several venture capital firms and industry investors, including Canadian automotive supplier Magna International Inc. The Mountain View, California-based Peloton will use the funds to accelerate development of its truck platooning technology for the U.S. and international trucking industries. In 2014, Magna invested in U.S. connected car startup Zubie.
9 min read · 29 April 2015
Signpost, a U.S. provider of automated customer relationship management to business-to-consumer companies, has secured US$20.5 million in Series C funding. The round was led by Canadian venture capital firm Georgian Partners, which this month closed its second applied analytics fund at $200 million. Other investors included Spark Capital, OpenView Venture Partners, Scout Ventures and the Launch Fund. Signpost, which is based in New York, said in a statement that the deal's proceeds will support further development of its technology and growth of mid-market, agency and partner sales channels. The company was founded in 2010 by CEO Stuart Wall.
2 min read · 28 April 2015
Scanadu Inc, a U.S. provider of mobile medical products to consumers, has secured US$35 million in Series B financing. The round was led by Fosun International and Tencent Holdings Ltd, with participation from China Broadband Capital and iGlobe Partners of Singapore. Other investors included Canadian venture capital firm Relay Ventures, which led Scanadu's Series A financing in 2013. Based in Mountain View, California, the company plans to use the proceeds of the follow-on investment to "further its vision to put the diagnostic power of a hospital in our smartphones." To date, Scanadu has raised US$49.7 million in funding.
5 min read · 28 April 2015
Canadian alternative assets investor Kensington Capital Partners has opened an office in Calgary. The initiative is intended to help access new energy technology opportunities in Western Canada for Kensington Venture Fund, a venture fund of funds that raised an initial $160 million last November. Kensington's office in Calgary will be led by Senior Vice President Michelle Scarborough, previously a founder and managing partner of Canadian venture capital firm Fronterra Ventures. Scarborough is also the chair of the National Angel Capital Organization, and the founder of the Women's Angel Network in Canada.
5 min read · 28 April 2015
The Ontario government has made a $25 million commitment to Scale Up Ventures Fund, a new venture capital fund that will provide startups in the province with a combination of early-stage capital, mentorship and market access. The fund will raise an additional $25 million from private investors. Led by Chair Nadir Mohamed, former CEO of Rogers Communications, the fund's activity will be supported by a leadership council of more than 30 Canadian business executives, including investment professionals Scott Bonham, founding partner of GGV Capital, Sam Duboc, CEO of Edgestone Capital Partners, and John Ruffolo, CEO of OMERS Ventures. The fund is expected to begin operations this summer.
3 min read · 27 April 2015
Metamaterial Technologies Inc has received $2 million in financing from Canadian early-stage venture capital firm Innovacorp. According to a report by Entrevestor, the company has also raised $1.1 million from private investors, including First Angel Network. Based in Halifax, Metamaterial is an optical solutions and nano-composites company developing and commercializing metamaterial technology. It said it will use the new funds to tailor its product for the aerospace industry. Last year, the company received $3 million in research and development funding from the Atlantic Canada Opportunities Agency (ACOA).
2 min read · 27 April 2015
IMMUNIO, a Canadian web security startup, has raised $2.7 million in a seed-stage financing. Investors in the round included British venture capital firm Hoxton Ventures, Canadian firm Real Ventures, and Bloomberg Beta, the venture investment arm of U.S. business and financial information provider Bloomberg LP. The funding deal was announced concurrently with IMMUNIO's emergence from stealth mode with a focus on bringing its new real-time web protection tools directly to web developers. Founded in 2013 by CEO Zaid Al Hamami and CTO Mike Milner, the company has its headquarters in Montréal.
4 min read · 27 April 2015
Rubicon Project (NYSE: RUBI) has closed its acquisition of Chango Inc, a Toronto-based programmatic advertising platform that connects marketers with their target audience. The previously announced deal, which was priced at US$122 million, provided exits to Chango's Canadian and U.S. venture capital investors, which include iNovia Capital, Rho Canada Ventures, Metamorphic Ventures, Mantella Venture Partners and Extreme Venture Partners. Rubicon Project, which is headquartered in Los Angeles, said the acquisition will help it expand its advertising marketplace to include intent marketing capabilities.
4 min read · 27 April 2015
SensorSuite Inc, a provider of wireless monitoring and energy solutions to multi-residential, commercial and industrial buildings, has received $550,000 in financing. The backers of the round included Canadian venture capital firms Extreme Venture Partners and BDC Capital, as well as a number of angel investors. The company, which is based in Toronto, said the proceeds of the investment will support growth of its project pipeline and help fuel development of its smart buildings technology platform. SensorSuite was founded in 2012 by CEO Robert Platek, CTO Marc Carignan, Chief of Operations Vlad Platek and Vice President Salman Habib.
3 min read · 27 April 2015
Canadian venture capital market activity rose sharply in the first quarter of 2015, with $548 million invested in 137 financing rounds, according to final data released by Thomson Reuters. This reflected growth of 41 percent over the $387 million invested one year ago. In fact, the first three months of 2015 was the most active first-quarter period in the Canadian market in several years, showing the most dollars invested since the first quarter of 2007, and the most companies financed since the first quarter of 2005. On the other hand, Canadian venture capital fundraising fell by 56 percent between January and March, with committed fund capital totaling $249 million this time around.
3 min read · 27 April 2015
