brad meikle
Vancouver-based financial technology startup progressa has raised $11.4 million in Series A financing. The round, comprised of equity and debt, was co-led by Cypress Hills Partners, a Canadian boutique merchant banking firm, and Conconi Growth Partners, a Canadian family office. Founded in 2013, progressa is an alternative lender focused on helping consumers resolve their overdue bills or other outstanding debts. With the close of its Series A round, the company plans to grow its consumer loan portfolio and strengthen its position in the Canadian online and peer-to-peer lending space. It will introduce a new marketplace investor platform early next year.
The Canadian government has joined a global initiative that seeks to double public investment over the next five years in clean energy research, and to spur private sector investment in clean technology. Mission Innovation, an initiative announced at the 21st Conference of the Parties to the United Nations Framework Convention on Climate Change, partners Canada with 19 other countries and the private sector. Ottawa said it has a plan to invest an additional $100 million each year in clean technology producers, and an additional $200 million each year to support innovation and the use of clean technologies in the resources sector.
VASCO Data Security International Inc (NASDAQ: VDSI) has closed its buy of Silanis Technology Inc, a Canadian electronic signature solutions provider. The purchase price was about $113 million. As reported by PE Hub Canada in October, Silanis was one of the earliest investments of Canadian growth equity firm Georgian Partners. The Montréal-based company currently processes more than 600 million e-signed transactions annually. Silanis CEO Tommy Petrogiannis told PE Hub Canada the combination of his business with VASCO "will create the world’s largest digital transaction e-signature supplier.”
Ideal Candidate, a Canadian job matching platform, has secured $2.5 million in a first-time financing round. The external investors were not identified. Headquartered in Toronto, Ideal Candidate provides an online recruitment marketplace that matches candidates for jobs in the sales industry with opportunities that are best suited to them. The company, founded in early 2014, plans to use the proceeds of the investment to continue development of its hiring solution and expand its sales and marketing presence in Toronto, Boston, Chicago and San Francisco.
Courion Corp has bought SecureReset Inc, a Halifax, Nova Scotia-based provider of authentication solutions for enterprise password resets. No financial terms were released. Courion, a specialist in identity governance and administration, said the acquisition will add value to its password reset management product. Headquartered in Atlanta, Georgia, Courion was acquired earlier this year by K1 Investment Management, a U.S. venture capital firm.
Vancouver's Playerize Network Inc, the owner of SuperRewards, has been bought by Perk.com Inc (TSX: PER), a mobile rewards business based in Austin, Texas. The deal involved a cash payment of US$350,000 and a shares issue by Perk.com, which began trading on the Toronto Stock Exchange earlier this year. SuperRewards, founded in 2007, is an alternative payments and virtual rewards provider. It was acquired by Playerize in 2012. The latter company has received funding from a number of angel investors and venture capital firms, including Real Ventures and Rho Canada Ventures.
Toronto-based Social Change Rewards, a wellness rewards platform, has secured $2 million in its latest funding round. Canadian venture capital firm Relay Ventures led the deal and was joined by Lumira Capital, Epic Capital Management, Primary Capital and a number of private investors. Social Change Rewards is a developer of mobile solutions for delivering loyalty rewards that encourage healthier lifestyle choices on a mass scale. Co-founded by CEO Andreas Souvaliotis and President Elizabeth Frank, the company has previously received support from governments, non-governmental organizations, and the private sector. It is exploring new opportunities in the United States and the United Kingdom.
BAROnova Inc, a Goleta, Calif.-based medical technology provider, has received US$36.5 million in a Series D financing. Delos Capital and Longitude Capital co-led the round with participation from BAROnova's existing backers. The latter include Lumira Capital, a Canadian venture capital firm that first invested in the company in 2013. BAROnova said it will use the round's proceeds to fund clinical investigation of its novel, non-surgical device for treating obeisity. Earlier this month, Lumira invested in First Aid Shot Therapy, a consumer healthcare company.
Montréal-based SmartReno, a technology platform that helps people find qualified renovation contractors, has completed a third round of financing. The company secured $1.6 million from members of Anges Québec, an angel investment group, and Anges Québec Capital Fund. SmartReno said the investment's proceeds will be used to continue its growth in Canada and internationally. The company also announced the acquisition of Zoomission, a local competitor. With the buy, SmartReno estimates it now handles over 40,000 project requests per year, with an aggregate value of more than $200 million.
Halifax-based 4Deep, a designer, maker and seller of digital holographic microscopes, has raised $500,000 in funding. The investor was BOSMA USA, an affiliate of China's Guangzhou BOSMA Optoelectronic Technology Co Ltd. 4Deep said it would use the investment's proceeds to hire more employees and improve production capacity. Concurrent with the deal, the company secured product distribution opportunities in China and agreed to partner with BOSMA in a research and development venture in Silicon Valley.