Private Equity
Acquisio Inc has received expansion funding from Canadian technology-focused venture capital firm Emerillon Capital. The financial terms of the deal were not published. Acquisio, ranked 7th in the 2013 Deloitte Fast 50™, will use investment proceeds to accelerate growth through strategic acquisitions. Founded in 2003, the Brossard, Québec-based company provides digital marketers with a performance media platform that enables them to optimize the results of their search, social, mobile, and display marketing programs. Venture-backed since 2011, Acquisio's other investors include the Fonds de solidarité des travailleurs du Québec FTQ and Tandem Expansion Fund. Emerillon Capital was established in 2013 through a partnership between Groupe Crédit Mutuel – CIC and Mouvement Desjardins.
3 min read · 30 January 2014
Bench Accounting said Thursday that it closed $1 million in funding. The investors were Contour Ventures, Alpine Meridian, Lerer Ventures, Quotidian Ventures and various unnamed angels. This $1 million is an add-on to the $2.1 million in seed funding that Bench raised last summer, bringing the total tally to $3.1 million. With offices in Vancouver and New York City, Bench Accounting is a provider of virtual bookkeeping services.
3 min read · 30 January 2014
CrowdCare Corp, a provider of app-based technology support for smartphones, has raised an additional $1 million in financing. The sources of the investment were not disclosed, but one report said the deal was led by Canadian early-stage venture capital firm Mantella Venture Partners. CrowdCare is also backed by MaRs Investment Accelerator Fund. The company said it will use funding proceeds for the deployment of its Wysdom beta app, a codified knowledge base that can deliver answers to subscriber questions about their smartphones. Founded in 2012, CrowdCare has its headquarters in Richmond Hill, Ontario.
3 min read · 30 January 2014
SaskWorks Venture Fund, a retail venture capital fund managed by Regina, Sask.-based PFM Capital, has raised a total of $40 million in its latest fund-raising year, reaching its allotted subscription limit. Tax-assisted subscriptions are available under federal and provincial legislation to individual residents of Saskatchewan. SaskWorks Venture Fund invests in small and medium-sized private companies. It currently has over 27,000 shareholders and has approved for investment $310 million in 96 companies, according to the fund.
2 min read · 30 January 2014
Medical device startup Surface Medical Inc has received undisclosed funding from the Accelerate Fund LP, an angel co-investment fund managed by Canadian early-stage venture capital firm AVAC, and local angel investors. Founded in 2010, and based in Calgary and Edmonton, the company specializes in innovative products that reduce healthcare-acquired infections. Investment proceeds will be used to execute Surface Medical's global expansion and enable it to continue working with healthcare practitioners in developing its technology platform. Accelerate Fund was launched in 2012 with backing of Alberta Enterprise.
3 min read · 29 January 2014
University of Waterloo incubator Velocity has reported that startups supported by it have raised more than $100 million over the past five years. Funding obtained by Velocity clients includes the backing of angel investors, venture capital firms, government programs, and grants from the Velocity Fund. Successful fund-raisers include companies featured in major 2013 deals, such as: KiK Interactive, developer of a smartphone messaging platform, which secured a $19.5 million Series B round; smartwatch maker Pebble, which netted US$15 million in a Series A deal; and Thalmic Labs, a developer of gesture control and wearable technology, which attracted a Series A financing valued at $14.5 million.
3 min read · 29 January 2014
IntelliView Technologies Inc, a manufacturer of solutions for industrial video surveillance applications, has obtained $1.5 million in funding from a subsidiary of Canadian energy company Enbridge Inc. The investment will support IntelliView's continued development and deployment of its pipeline leak detection solution employing multi-spectral sensors and proprietary video analytics. Founded in 2003, the Calgary-based IntelliView is a portfolio company of venture capital firm AVAC. AVAC is a direct investor in early-stage businesses based in Alberta, and an indirect investor in national national venture capital funds.
3 min read · 29 January 2014
Aquinox Pharmaceuticals Inc, a clinical-stage company focused on developing novel and targeted small molecule therapeutics for the treatment of inflammatory disease, has filed for an initial public offering (IPO). The report came from investment advisory firm Renaissance Capital, which said the Vancouver-based company filed with the Securities and Exchange Commission to raise an IPO on NASDAQ under the symbol AQXP. The company aims to generate proceeds of up to US$58 million. Founded in 2004, Aquinox has been primarily backed by a mix of Canadian and U.S.-based venture capital firms, including BC Advantage Funds VCC, Baker Brothers Investments, Pfizer Venture Investments and Ventures West Capital. In Apr. 2013, Aquinox secured a US$18 million Series C financing led by Johnson & Johnson Development Corp. New investor Augment Investments participated in the round along with existing investors.
1 min read · 29 January 2014
Guardly said Wednesday that it has closed $1.45 million in seed-stage financing. U.S. venture capital firm Freestyle Capital led the round with participation from Canadian firms Golden Venture Partners and MaRS Investment Accelerator Fund. Based in Toronto, Guardly is a provider of enterprise-grade mobile safety solutions. Update: Investment proceeds will go toward accelerating the company's product innovation and to assist a growing sales and customer support team. Founded in 2010, Guardly said its solutions have to date been licensed by enterprise clients for use by over 430,000 end users.
4 min read · 29 January 2014
The European venture capital business rebounded in the fourth quarter with fundraising and IPOs up, while investments in startups grew at a smart pace. Twenty-three venture funds raised nearly US$2 billion in the quarter, the most money raised in a quarter in two years, according to a report from Dow Jones’ DJX VentureSource. Capital was up 38% from the same quarter a year ago. For the year, however, capital raised was down 8% from 2012. Venture firms invested slightly more than US$2 billion in startups in the final three months of the year, up 18% from the third quarter. The number of deals – at 357 – edged up 6%. For the year, investments rose 15% from 2012 in terms of capital allocated.
1 min read · 28 January 2014
