Private Equity
Xanadu, a Toronto-based photonic quantum computing and AI startup, has raised $32 million in a Series A financing. The round brings the company's total funding to date to $41 million, according to a news release. The Series A was led by OMERS Ventures. OV, the venture arm of $97 billion Canadian pension fund OMERS, also led Xanadu’s seed financing last year. Also participating were Georgian Partners, Radical Ventures, Real Ventures, Silicon Valley Bank and individual investor Tim Draper, founder of DFJ. Launched in 2016 by CEO Christian Weedbrook, Xanadu is focused on leveraging the discovery that quantum computing can make use of photons, or particles of light, to rapidly perform complex calculations at room temperature.
2 min read · 24 June 2019
San Diego-based AFYX Therapeutics, a clinical stage biopharmaceutical company, has secured $13 million in convertible loan financing. Sofinnova Ventures was the lead investor.
1 min read · 24 June 2019
Alma, a New York-based co-practicing community of therapists, coaches, and wellness professionals, raised $8 million in Series A funding, according to a Medium blog post. Tusk Venture Partners led the round with participation from Sound Ventures, First Round Capital, Primary Ventures, Box Group and able Partners.
1 min read · 21 June 2019
Khosla Ventures has raised a pair of alternative investment vehicles to accompany its 2018 sixth fund, according to filings with the SEC.
1 min read · 21 June 2019
San Francisco and London-based MakerSights, a product decision engine for retail, has secured $8.5 million in Series A funding. The investors included Forerunner Ventures. In addition to the funding, Brian O’Malley of Forerunner Ventures will join the MakerSights' board of directors.
1 min read · 21 June 2019
Nikon Corp has invested about $10 million (US$7.5 million) in Wrnch, a Montréal-based provider of computer vision tools. Nikon, a Japanese maker of optical instruments, said the investment will help expand the range of its imaging business. Launched in 2015 in partnership with Canadian seed investor TandemLaunch, Wrnch provides an artificial intelligence software platform to digitize and analyze human motion and behaviour from standard video in real time. It is led by CEO Paul Kruszewski. Wrnch closed a $1.8 million Series A financing in 2016. It was led by Mark Cuban’s Radical Ventures and joined by Aligo Innovation, gr0k Technologies and TandemLaunch.
2 min read · 21 June 2019
Procurify, a Vancouver-based spend management platform, has closed its Series B financing, raising about $20 million. The round was led by Canadian venture capital firm Information Venture Partners. It was joined by Runa Capital, HarbourVest Partners, Manulife and BC Tech Fund, managed by Kensington Capital Partners. Founded in 2012 by CEO Aman Mann, CTO Eugene Dong and CRO Kenneth Loi, Procurify provides software that helps organizations manage their expenditures. The funds raised will be used for new hires, undertaking sales and marketing initiatives, and expanding Procurify’s offering globally.
3 min read · 21 June 2019
Slack, a San Francisco-based enterprise messaging software provider, has gone public on the New York Stock Exchange at a value of US$25 billion, Reuters reported. Slack went the unusual route of a direct listing, different from a traditional initial public offering because it does not raise fresh funds, the report said. The method was pioneered last year by Spotify Technology. Slack, which has an office in Vancouver, was launched in 2014 by CEO Stewart Butterfield, a Canadian entrepreneur. Its venture capital investors include Accel, Andreessen Horowitz, Dragoneer Investment Group and General Atlantic.
1 min read · 20 June 2019
Procurify, a Vancouver-based spend management platform, has closed its Series B financing, raising about $27 million (US$20 million). The round was led by Canadian venture capital firm Information Venture Partners. It was joined by Runa Capital, HarbourVest Partners, Manulife and BC Tech Fund, managed by Kensington Capital Partners. The company is also backed by Point Nine Capital, Nexus Venture Partners and BDC. Founded in 2012 by CEO Aman Mann, CTO Eugene Dong and CRO Kenneth Loi, Procurify provides software that helps organizations manage their expenditures. The funds raised will be used for new hires, undertaking sales and marketing initiatives, and expanding Procurify's offering globally.
3 min read · 20 June 2019
Pitango Venture Capital said it named Idit Muallem-Yedid and Yair Cassuto as partners. Both were previously principals.
1 min read · 20 June 2019
