Private Equity
Smart Skin Technologies, a provider of technology solutions to bottling and packaging companies, has secured $3.9 million in Series A financing. The round was led by Canadian venture capital firms Rho Canada Ventures, Build Ventures and GrowthWorks Atlantic Venture Fund, with the participation of existing backers East Valley Ventures, New Brunswick Innovation Foundation and several angel investors. The funding, which builds on the $1.5 million previously invested in the Fredericton, New Brunswick-based Smart Skin, will accelerate product development and service more customers. According to the company, North American and European businesses have been increasingly deploying its Smart Skin Technologies’ Quantifeel™ DRONE, a hardware and software solution that measures pressure and ensures efficient production.
4 min read · 15 January 2014
Toronto-based workspace management and CRM software company Your Virtual Butler has raised funding from Canadian venture capital firm First Stone Venture Partners. The financial terms of the deal were not published. Founded in 2010, Your Virtual Butler reported that its web-based software solutions are already being used by business centres, co-working and workspace operators around the globe. Ben Bowen was recently appointed president of the company. Focused on Ontario's Prince Edward County, First Stone Venture Partners currently has plans to make up to 25 investments in technology startups over the next three years.
3 min read · 15 January 2014
ResponseTek Networks Corp, a provider of enterprise customer experience management (CEM) software solutions, has secured a $6 million round of financing from Beedie Capital Partners and GrowthWorks. Proceeds of the investment will be used to support the company's continued growth and expansion into the Middle East and Asia. Based in Vancouver, ResponseTek has implemented CEM programs using its ReponseTek Listening Platform™ in over 30 countries throughout North America, Europe and Asia, according to the company. ResponseTex has been venture-backed since 2001. Its other investors include BDC Venture Capital and MMV Capital Partners.
3 min read · 14 January 2014
Vision Critical Communications Inc, an insight communities technology provider, has obtained a $3.5 million investment from Canadian specialty finance firm Difference Capital Financial (DCF) (TSX:DCF). The new funding is intended to facilitate the company's continued growth. In a separate release, Vision Critical also announced that Derek Smyth, former managing director at OMERS Ventures and company board member, has signed on as chief revenue officer. Founded in 2000, the Vancouver-based Vision Critical's market intelligence software solutions currently support over 650 brands worldwide, according to the company. It has been venture-backed since 2004, with other investors including OMERS Ventures and Wellington Financial LP.
2 min read · 14 January 2014
U.S. venture funds raised US$4.85 billion last quarter, up 53 percent from the same period a year ago, but full-year 2013 fundraising fell 15 percent compared to the year before. For the full year, venture capital firms raised US$16.7 billion, the weakest annual total since 2010, according to data from the National Venture Capital Association and Thomson Reuters released on Monday. Some 48 funds were raised over the quarter, on par with a year earlier. The last quarter of the year usually is the slowest for venture fundraising. For the full year, 185 funds were raised, down slightly from 208 in 2013.
1 min read · 14 January 2014
Sonian Inc, a provider of cloud-powered e-mail archiving, has raised an additional US$8 million from existing investors, including Canadian venture capital firm Summerhill Venture Partners. The funding, which included contributions from U.S. firms OpenView Venture Partners and Prism Venture Partners, brings the company's Series C financing round to US $21.6 million in total. Investment proceeds will be used to develop Sonian’s next-generation DiscoverStor™ platform, which will be unveiled in the first quarter of 2014. Founded in 2007, the Newton, Mass.-based Sonian has been venture-backed since 2009. The company said its technology currently serves more than 14,000 customers in 40 countries.
3 min read · 14 January 2014
Battlefy, a Vancouver-based e-sports management platform, has secured $1.3 million in seed-stage financing. The deal was led by U.S. venture capital firm Deep Fork Capital, with the participation of Canadian firm BDC Venture Capital, and a number of angels and entrepreneurs, including Jarl Mohn, former Chairman of Riot Games. Founded in 2012, and a graduate of startup accelerator Amplify LA, Battlefly gives organizers of e-sports tournaments and leagues a solution for managing video game competitions. According to the company, it has already powered over 600 virtual events involving more than 1.5 million players and viewers.
3 min read · 14 January 2014
Baanto International Ltd, a specialist in innovative products for touchscreens and interactive white boards, has obtained $6 million in Series C financing. The deal was led by Canadian specialty finance firm Difference Capital Financial, which invested $3 million. Funding proceeds will allow Baanto to continue to expand its marketing, sales, and operations efforts as well as enhancing its range of advanced touch technology products. Based in Mississauga, Ontario, the company has a direct and partner presence in North America, South America, Europe, and Asia.
3 min read · 13 January 2014
Triphase Accelerator Corp, a cancer-focused biotechnology accelerator, has been formed by an investment partnership of Fight Against Cancer Innovation Trust (FACIT) and affiliates of commercialization and innovation hubs MaRS Innovation and MaRS Discovery District. With operations in Toronto and San Diego, Calif., Triphase aims to support differentiated products through proof of concept (Phase II) faster and more efficiently. Originally spun out of the Ontario Institute for Cancer Research in 2010, Triphase has entered into a strategic relationship with Celgene Corp, a manufacturer of drug therapies for cancer and inflammatory disorders with headquarters in Summit, New Jersey.
4 min read · 13 January 2014
BTI Systems Inc, an Ottawa-based provider of intelligent networking software and systems, has obtained a $2 million investment from Canadian specialty finance firm Difference Capital Financial. The investment follows the $27 million in total funding that the company has in recent months received from other major investors, including U.S. venture capital firm Bain Capital Ventures and Canadian firms BDC Venture Capital, Covington Funds and GrowthWorks. BTI Systems, which also has offices in Boston, Massachusetts and Palo Alto, California, has been venture-backed since 2000.
2 min read · 13 January 2014
