North America

Aifred Health raises C$490k to support treatment of depression

Montréal-based digital health company Aifred Health has secured more than C$490,000 in financing. The round was backed by Anges Québec, other angel investors based in Ontario and the United Kingdom, and Consortium MEDTEQ. Founded in 2017, Aifred specializes in clinical decision support for the treatment of depression and other mental conditions. It is developing an artificial intelligence-enabled tool to help physicians visualize a patient’s data and support the decision process. The financing’s proceeds will be used to validate Aifred’s business model and launch its first application in partnership with local hospitals.

MGB Biopharma snags funding

Glasgow, Scotland-based MGB Biopharma, a biopharmaceutical company, has raised an undisclosed amount of funding. Archangel Investors led the round with participation from other investors that included Scottish Investment Bank, Barwell and TriCapital Investors.

Mews pockets $33 mln Series B

Mews, a provider of property management software, has raised $33 million in Series B funding. Battery Ventures led the round. In addition to the funding, Battery Principal Sanjiv Kalevar is joining the Mews board of directors while Battery General Partner Michael Brown will become a board observer.

ePACT becomes first Canadian woman-led deal of Elaine Kunda’s Disruption Ventures

EPACT Network has closed a Series A financing, raising $4.5 million, PE Hub Canada has learned. The round, which brings total funding to $12 million-plus, was co-led by Disruption Ventures, a women-focused venture firm, and Yaletown Partners, an investor in emerging-growth tech companies. Vancouver’s ePACT was founded in 2012 by CEO Christine Sommers and President and COO Kirsten Koppang Telford to provide a cloud-hosted system that converts traditional paper-based forms of emergency, health and contact information to a free e-network. It is the first Canadian investment of Disruption, launched in 2018 by Managing Partner Elaine Kunda to invest in North American early-stage companies founded and managed by women.

SWISSto12 nabs $18.5 mln Series B

SWISSto12, a provider of telecommunications components for the satellite and aerospace industries, has raised $18.5 million in Series B financing. The investors included Swisscanto Invest by Zürcher Kantonalbank, Swisscom Ventures and Constantia New Business.

March Capital leads Series A round for Knock Knock

San Francisco-based Knock Knock, a developer of frictionless games and technologies for a post-App Store world, has secured $4 million in Series A financing. March Capital Partners led the round with participation from other investors that included Raine Ventures, London Venture Partners and Ludlow Ventures. In conjunction with the funding, Gregory Milken, managing director at March Capital Partners, is also joining the Knock Knock board.

Temenos to buy Georgian Partners-backed Kony for $559 mln

Temenos has agreed to acquire Kony Inc, an Austin, Texas-based digital and mobile application development company focused on the financial sector. Tenemos agreed to buy Kony for an enterprise value of US$559 million and an earn-out of US$21 million. The deal is expected to close in the fourth quarter. Tenemos, a Swiss banking software provider, said the acquisition will enhance its scale and capabilities in the U.S. market. Founded in 2007, Kony was backed by Canadian growth equity firm Georgian Partners and other investors. Last month, the company raised US$37 million of debt financing from BMO's Technology and Innovation Banking group.

Worxmity fetches Series A

Montreal-based Worximity Technology, a company focused on Industry 4.0, has secured C$6.25 million in Series A funding. Marel, a provider of advanced food processing equipment, systems, software and services to the poultry, meat and fish industries, led the round. Since its founding in 2011, Worximity has served more than 200 customers.

Counterpart Ventures targets $100 mln for sophomore fund

Counterpart Ventures is seeking to raise $100 million for its second fund, according to an SEC filing. The San Francisco-based venture firm was founded in February 2018.

Temenos to buy VC-backed Kony

Temenos, a banking software company, has agreed to acquire Kony for an enterprise value of US$559 million and an earnout of US $21 million. Kony Inc is a digital banking SaaS company. The deal is expected to close in the fourth quarter of this year. Kony's backers included SoftBank Capital, Insight Venture Partners, Georgian Partners, a Canadian venture capital firm, as well as Telstra Venture, Delta-V and Hamilton Lane.