Private Equity
Sequoia Capital-backed [24]7 has acquired IntelliResponse. The financial terms of the all-cash transaction were not disclosed. Based in Toronto, IntelliResponse is a provider of digital self-service technology solutions for the enterprise. Update: Based in Campbell, California, [24]7 is a consumer experience technology platform that enables customer connections with businesses. Founded in 2000, it has raised funds from several investors, including U.S. venture capital firm Sequoia.
4 min read · 12 November 2014
Members of Anges Québec recently invested $300,000 in Chronogolf Inc, a cloud-based golf management software company. Anges Québec said the investment is part of round closed by Canadian venture capital firm iNovia Capital and U.S. firm Telegraph Hill Capital. Telegraph invested in March, according to Crunchbase. Based in Montréal, Chronogolf has developed a platform that facilitates interactions between golf courses and players. The angel funding, led by Jean-François Leduc and Nectarios Economakis, will in partnership with iNovia and Telegraph help the startup develop its platform, increase its brand awareness and implement a sales team to market its product.
4 min read · 12 November 2014
The Federal Economic Development Agency for Southern Ontario (FedDev) has announced plans to invest up to $1.53 million in three Waterloo, Ontario startups. The companies are: Clearpath Robotics, a specialist in vehicle robotics technology; In the Chat, a digital customer service software provider; and WestonExpressions, a developer of an interactive advertising display system. FedDev said these startups have also secured over $3.1 million from venture capital and angel investors. FedDev will also commit up to $500,000 to Golden Triangle Angel Network, an Ontario angel organization.
6 min read · 12 November 2014
LEAGUE Inc, a digital health and wellness platform, has secured US$4 million in seed-stage funding. The deal was led by OMERS Ventures with the participation of Infinite Potential Technologies LP, Foundation Capital and Real Ventures. The company was formed and will be led by CEO Michael Serbinis, the former head of Canadian e-reading company Kobo Inc. Focused on preventative health solutions through a mobile platform that stores health information, LEAGUE plans to launch in early 2015. The company is currently looking for healthcare professionals to participate in its beta program. Serbinis earlier this year launched venture capital firm Three Angels Capital and invested in BitLit.
4 min read · 12 November 2014
Biotechnology startup Encycle Therapeutics Inc recently secured more than $2.5 million from undisclosed investors. The capital infusion is intended to support the company's drug development platform, which is focused on treating inflammatory bowel disease and related conditions. Encycle was founded two years ago by Dr. Andrei Yudin of the University of Toronto in partnership with commercialization agent MaRS Innovation. It is currently collaborating on its research project with MaRS, the Institute for Research in Immunology and Cancer-Commercialization of Research and the Université de Montréal.
4 min read · 11 November 2014
Hibernum Créations Inc has obtained $5 million from Investissement Québec, a government private equity and venture capital firm. Based in Montréal, Hibernum is a game development, animation and visual effects creation platform. The company said the partnership with Investissement Québec will allow it to enhance its position in the global gaming and digital entertainment industries. Hibernum was founded by president Frédérick Faubert in 2005.
2 min read · 11 November 2014
Sentrian, a U.S. remote patient Intelligence company, has raised US$12 million in seed-stage and Series A funding. The round was co-led by TELUS Ventures, the strategic venture capital investment arm of Canada's TELUS Communications Co. Other lead investors included Reed Elsevier Ventures and Frost Data Capital. Based in Aliso Viejo, California, Sentrian's platform aims to eliminate preventable hospitalization by leveraging remote biosensors and machine learning to detect patient deterioration early.
4 min read · 11 November 2014
Christopher Morris has been named the new president and CEO of GrowthWorks Capital, replacing David Levi, who will become the firm's executive chairman. Morris is the principal of R.C. Morris & Co Special Opportunities Debt Fund II LP, and is president of R.C. Morris & Co Ltd, a Canadian turnaround and restructuring firm. Based in Vancouver, GrowthWorks manages $200 million in venture capital fund assets.
2 min read · 11 November 2014
The Canadian Venture Capital and Private Equity Association (CVCA) has welcomed the launch of Teralys Capital Innovation Fund, which was initially closed this week at $279 million. The CVCA noted that the fund is the second established under the federal Venture Capital Action Plan, with $186 million in commitments coming from corporate and institutional investors, and $46.5 million coming each from Ottawa and the Québec government. The fund is managed by Montréal-based fund-of-funds manager Teralys Capital.
2 min read · 11 November 2014
DogVacay has secured US$25 million in funding. Canadian venture capital firm OMERS Ventures led the round with participation from other investors, including GSV Capital, First Round Capital, Benchmark, Foundation Capital and DAG Ventures. Headquartered in Santa Monica, California, DogVacay is an online and mobile community for pet care in North America. Update: The company, which was founded in 2012, said the capital infusion will allow it to continue to grow. OMERS Ventures is an investment arm of the Ontario Municipal Employees Retirement System (OMERS).
3 min read · 10 November 2014
