Private Equity
Canada's BlackBerry Ltd raised its bets on artificial intelligence and cybersecurity this week with the US$1.4 billion purchase of U.S. machine-learning specialist Cylance, Reuters reported. The Irvine, California-based Cylance uses machine learning to preempt security breaches before they occur. Its applications seek to block malware or infiltration attempts rather than react after a breach. Founded in 2012, Cylance secured more than US$280 million from venture capital funds, according to Refinitiv data. That includes the US$120 million raised earlier this year in a round led by Blackstone Tactical Opportunities.
2 min read · 16 November 2018
General Catalyst said it has added Kirk Arnold and Stephan Dietrich as executives in residence. Arnold was most recently CEO of Data Intensity. Dietrich presently serves on several boards, including those of Neotys and Akeneo.
2 min read · 16 November 2018
Kaloom, a Montréal-based data centre networking software company, has secured $10 million in a Series A1 financing, bringing its total funding to $20.7 million. Fonds de solidarité FTQ and Somel Investments led the round and were joined by MBUZZ Investments. All three investors backed the company's Series A financing in 2017. Kaloom was founded in 2014 by CEO Laurent Marchand to develop an automated, programmable and scalable data centre networking fabric that addresses how data centres are built and managed. The funds raised will support the development and sales of Kaloom’s industrialized software solution for open networking white boxes and to hire additional team members.
4 min read · 16 November 2018
Ario, an Ottawa-based digital banking platform built for enterprises, has secured a $10 million investment. The source of the financing was Purpose Financial LP, a Canadian financial services firm led by CEO Som Seif and backed by OMERS Platform Investments. Founded last year and led by CEO Avinash Chidambaram, Ario helps enterprise partners provide their customers with automated, contextual and real-time financial solutions managed through machine learning systems. The investment's proceeds will allow the company to further develop and launch its solutions.
3 min read · 15 November 2018
San Jose, California-based Automation Anywhere, a provider of robotic process automation, has raised $300 million in funding. The investor was the SoftBank Vision Fund.
1 min read · 15 November 2018
Version One Ventures is growing its franchise. The Vancouver firm, founded in 2012 by renowned seed investor Boris Wertz, made the decision to expand when raising its third fund. One result was the September promotion of Angela Tran Kingyens to general partner. A further step will soon be taken with the hire of an associate. In an interview with PE Hub Canada , Wertz said the increased resources will help deploy Version One Ventures III, which raised about $57 million last month. He also told us more about Version One's growing franchise, Fund III, recent deals and the firm’s evolving strategy.
4 min read · 15 November 2018
Drop Technologies has acquired Canopy Labs, a Toronto-based customer-focused predictive analytics software provider. No financial terms were disclosed. Derrick Fung, CEO of Drop, a Toronto-based mobile rewards program, said the acquisition of Canopy Labs' machine learning technology will help his company build "a best-in-class product for both consumers and our merchant partners." Earlier this year, Drop raised a US$21 million Series A financing led by New Enterprise Associates. Founded in 2012 by CEO Wojciech Gryc and CTO Jorge Escobedo, Canopy Labs secured financing from BDC Capital, Valar Ventures and other investors.
4 min read · 15 November 2018
Denver-based Well Data Labs, which helps companies manage, analyze and report frac data, has secured an undisclosed amount of Series B funding. Cottonwood Venture Partners led the round.
1 min read · 15 November 2018
Axio Global, a provider of a cybersecurity optimization platform, has raised an undisclosed amount of funding. The investor was NFP Ventures.
1 min read · 15 November 2018
Emerge, a provider of a platform that connects shippers and carriers, has raised $20 million in seed funding. Greycroft led the round.
1 min read · 15 November 2018
