Private Equity
In-application mobile video advertising platform Vungle Inc has raised US$17 million in a Series B financing round. The deal was led by Thomvest Ventures, the US$250 million venture capital fund of Canada's Peter Thomson. Other participants in the round included existing investors Crosslink Capital, Google Ventures, AOL Ventures, SoftTech VC and Webb Investment Network. Funding proceeds will go toward building a suite of monetization tools for mobile app developers, including the first-ever in-app mobile video ad exchange, the company said. Founded in and venture-backed since 2011, Vungle is based in San Francisco, California.
3 min read · 10 February 2014
The Business Development Bank of Canada (BDC) has been recognized by Mediacorp Canada Inc as one of Canada's best diversity employers and one of Montréal's top employers. The firm was selected from a group of over 3,250 companies that participated in this year's application process. The Montréal-based BDC offers financing, subordinate financing, venture capital, securitization and consulting services to more than 28,000 small and medium-sized companies.
2 min read · 10 February 2014
Slyce has acquired computer vision technology developed at York University that quickly analyzes and aggregates similar images. The terms of the deal were not published. The Calgary-based company said it will integrate the intellectual property into Slyce’s visual search platform. The acquisition follows Slyce's buy last December of Toronto-based Hovr.it. Focused on providing visual search technology for retailers, brands and publishers, Slyce in 2013 secured $3.75 million in funding from Canadian venture capital firm Podium Ventures, Alpha North and angel investors. It also raised $2.2 million in convertible debenture financing.
4 min read · 07 February 2014
Whirlscape Inc, developer of the Minuum keyboard and wearable typing methods for OEM device integration, has received $500,000 in seed-stage financing. The Toronto-based company's backers include Canadian venture capital firm BDC Venture Capital, U.S.-based FundersClub and Y Combinator, and a dozen angel investors. Whirlscape said it plans to use the new funds to advance innovation and consolidate the success of its Minuum technology, which was launched last year. Founded in 2012, Whirlscape has been supported by Silicon Valley startup accelerator Y Combinator, the Creative Destruction Lab, and UTEST, the MaRS Innovation and University of Toronto accelerator program for early-stage technologies.
3 min read · 06 February 2014
Wireless energy management company REGEN Energy Inc has secured US$7 million in a Series B financing round. The round was led by a unidentified global energy company and included participation from existing Canadian investor BDC Venture Capital Energy/Cleantech Fund and U.S. investor NGEN Partners. The new funds will allow the Toronto-based REGEN to increase sales, marketing and support infrastructure, to continue to advance Swarm Energy Management™, the company's wireless smart grid technology platform, and to enhance its product line. Founded in 2005, REGEN also has an office in Newport Beach, California. The company received its seed financing from MaRS Investment Accelerator Fund.
2 min read · 05 February 2014
A stronger IPO market has sparked improving returns for U.S. venture capital funds, writes Venture Capital Journal senior editor Mark Boslet. As of the third quarter of last year, gains were evident across most benchmark timeframes, including the quarterly, one-year, three-year, five-year, 10-year and 15-year periods, according to a report from Cambridge Associates and the National Venture Capital Association. Only the 20-year time frame failed to advance. The report found one-year returns rose to 15.1% from 8.9% in June and three-year returns were 14.4%, up from 13.5% in June. The ten-year performance was 8.6%, up from 7.8%, and quarterly returns were 6.5%. The 20-year time frame was essentially unchanged at 30%.
1 min read · 04 February 2014
Merchandise sales management platform atVenu has secured US$1.1 million in a seed-stage financing round, according to the company's blog. The deal was led by Canadian venture capital firm Real Ventures. Proceeds of the investment will be used to grow atVenu and develop its technology platform and client base. Based in Sausalito, California, atVenu provides real-time financial data tools to support product sales by artists at their live performances. The Montréal-based Real Ventures invests in early-stage IT and Internet-focused companies. The firm recently disclosed to peHUB Canada that it is gearing up for the first close of its third partnership, Real Ventures III, which is targeted to raise $100 million.
1 min read · 04 February 2014
SIX Safety Systems has agreed to acquire WorkSMART Ergonomics Ltd, an ergonomic and human factors consulting business with offices located across Canada. The financial terms of the transaction, which will be completed in May, were not published. The acquisition will enhance SIX Safety Solutions' comprehensive worker fit for duty solutions and monitoring technologies, the company said. The Cochrane, Alberta-based SIX Safety Solutions received an investment from Canadian angel organization VA Angels in Nov. 2013. With its headquarters in Calgary, VA Angels has invested $28.5 million in 57 deals since 2003.
3 min read · 04 February 2014
Primus Power Corp, a provider of grid-scale electrical energy storage solutions, has raised US$20 million in Series C financing. The deal, led by South Africa's Anglo American Platinum Ltd, included the participation of PGM Development Fund and existing investors, including Canadian venture capital firm Chrysalix Energy Venture Capital and Kleiner Perkins Caufield & Byers. The Hayward, Calif.-based Primus said it has secured US$35 million since its founding in 2009. Proceeds of the latest investment will support customer shipments, transitioning the company's manufacturing to a contract manufacturer, and expanding its sales and customer support organizations.
4 min read · 04 February 2014
Toronto-based content optimization platform Atomic Reach Inc has raised a new financing round. While the amount was undisclosed, the company said the deal brings its total funding to date to $4 million. Atomic Reach last year obtained $1.25 million in seed-stage financing from Canadian venture capital investors Genwealth Ventures and MaRS Investment Accelerator Fund. The latest funding will be used to accelerate development of the company's audience engagement platform, boost marketing, and increase activity with its target market, which includes publishers, brands and bloggers. Founded in 2010, Atomic Reach was named one of Canadian Innovation Exchange's 20 hottest innovative companies in 2013.
2 min read · 04 February 2014
