Private Equity
PumpUp Inc has secured US$2.4 million in seed-stage financing. The round was led U.S. venture capital firm General Catalyst Partners with the participation of Canadian firm Relay Ventures, as well as Azure Capital Partners, Freycinet Investments and a number of angel investors. PumpUp, creator of a photo-based social network for healthy and active living, said the funds will be used to grow its community, expand its internal team, and develop its app, which currently has more than 1.7 million users. Co-founded in 2012 by CEO Garrett Gottlieb and president Phil Jacobson and venture-backed since 2013, the company has its headquarters in Toronto and an office in San Francisco.
3 min read · 24 July 2014
PumpUp Inc has secured US$2.4 million in seed-stage financing. The round was led U.S. venture capital firm General Catalyst Partners with the participation of Canadian firm Relay Ventures, as well as Azure Capital Partners, Freycinet Investments and a number of angel investors. PumpUp, creator of a photo-based social network for healthy and active living, said the funds will be used to grow its community, expand its internal team, and develop its app, which currently has more than 1.7 million users. Co-founded in 2012 by CEO Garrett Gottlieb and president Phil Jacobson and venture-backed since 2013, the company has its headquarters in Toronto and an office in San Francisco.
3 min read · 24 July 2014
AmorChem has partnered with Québec commercialization hub Univalor in an investment in a drug project aimed at stopping the development of atherosclerosis. The value of the investment was not disclosed. Based on the work of Dr. Huy Ong and his colleagues at the Université de Montréal, the project focuses on factors associated with the onset and progression of atherosclerosis, an underlying cause of ischemic heart disease and related cardiovascular complications. Managed by Montréal-based venture capital firm GeneChem, AmorChem invests in R&D-stage initiatives to enable pre-clinical proof-of-concept in a semi-virtual mode.
4 min read · 24 July 2014
Zenith Epigenetics Corp, a Calgary-based early-stage biotechnology company, has raised $4.6 million from a private placement offering. The source of the funding was an existing investor, U.S. healthcare-focused venture capital firm NGN Capital. NGN also participated with Eastern Capital in a US$8 million financing in March. Zenith, which last year emerged as the result of RVX Therapeutics Inc's spinout from Resverlogix Corp (TSX: RVX), intends to use offering proceeds to fund research and development activities and other business purposes.
3 min read · 23 July 2014
Zenith Epigenetics Corp, a Calgary-based early-stage biotechnology company, has raised $4.6 million from a private placement offering. The source of the funding was an existing investor, U.S. healthcare-focused venture capital firm NGN Capital. NGN also participated with Eastern Capital in a US$8 million financing in March. Zenith, which last year emerged as the result of RVX Therapeutics Inc's spinout from Resverlogix Corp (TSX: RVX), intends to use offering proceeds to fund research and development activities and other business purposes.
3 min read · 23 July 2014
FreshBooks Inc, a cloud accounting service designed exclusively for small businesses, has secured US$30 million in first-time institutional funding. The round was led by U.S. venture capital firm Oak Investment Partners and was joined by Atlas Venture and Georgian Partners. Funds will be used to position the company for growth as it helps freelancers and service-based businesses develop without having to learn accounting. Co-founded by Mike McDerment, Joe Sawada and Levi Cooperman in 2003, the Toronto-based FreshBooks has more than doubled its user base to more than 10 million during the last two years. The company is currently hiring developers, product managers and marketing experts.
4 min read · 23 July 2014
FreshBooks Inc, a cloud accounting service designed exclusively for small businesses, has secured US$30 million in first-time institutional funding. The round was led by U.S. venture capital firm Oak Investment Partners and was joined by Atlas Venture and Georgian Partners. Funds will be used to position the company for growth as it helps freelancers and service-based businesses develop without having to learn accounting. Co-founded by Mike McDerment, Joe Sawada and Levi Cooperman in 2003, the Toronto-based FreshBooks has more than doubled its user base to more than 10 million during the last two years. The company is currently hiring developers, product managers and marketing experts.
4 min read · 23 July 2014
Privacy Analytics Inc has received US$3.5 million in additional funding. The round was led by Canadian venture capital firm Vanedge Capital, and joined by BDC Capital IT Venture Fund, which helped seed the company in 2012, and the Ontario Institute for Cancer Research. V. Paul Lee, managing partner at Vanedge, has joined Privacy Analytics' board of directors. Proceeds will be used to increase sales and marketing, as well as develop the product line. Founded in 2007, Privacy Analytics was formed at the University of Ottawa, where its software, PARAT, was incubated and patented. The company said its customers include Fortune 50 healthcare companies, as well as academic and research organizations.
4 min read · 22 July 2014
Privacy Analytics Inc has received US$3.5 million in additional funding. The round was led by Canadian venture capital firm Vanedge Capital, and joined by BDC Capital IT Venture Fund, which helped seed the company in 2012, and the Ontario Institute for Cancer Research. V. Paul Lee, managing partner at Vanedge, has joined Privacy Analytics' board of directors. Proceeds will be used to increase sales and marketing, as well as develop the product line. Founded in 2007, Privacy Analytics was formed at the University of Ottawa, where its software, PARAT, was incubated and patented. The company said its customers include Fortune 50 healthcare companies, as well as academic and research organizations.
4 min read · 22 July 2014
Sviral Inc has secured additional financing from Canadian investment and merchant banking firm Pinetree Capital. Pinetree, which invested US$5 million in the company in June, has purchased an additional 10 million shares, worth 25 percent of total Sviral securities, and the rights to acquire an additional 10 million shares. The investment is valued at US$20 million in total. The Sunnyvale, California-based Sviral said the new funding will allow it to move forward in the deployment of the company's multi-core processing technology to expand capacity in multiple compute-intensive markets.
4 min read · 22 July 2014
