Kirk Falconer
If history repeats, a combination of disclosed and non-disclosed VC financings should put Canadian market activity in Q2 within reach of the $454 million invested in Q2 2013.
OMsignal Inc has secured $10 million in a Series A financing round led by U.S. venture capital firm Bessemer Venture Partners. Bessemer was joined in the deal by existing investors, including Real Ventures, Mistral Venture Partners, Golden Venture Partners, Techstars' managing partner David Cohen, Flextronics and Primera Capital. Founded in 2011, the Montréal-based OMsignal is a provider of smart clothing technology and the maker of Biometric Smartwear, clothing that includes sensors to track fitness, health and performance. The company will use the new funds to achieve greater scale and take wearable technology to a wider consumer base.
Tasktop Technologies, developer of an integration technology designed to improve software productivity, has raised $11 million in a Series A financing round. The deal was led by U.S. venture capital firm Austin Ventures and joined by Canadian firm Yaletown Venture Partners, which helped seed the company in 2013. Tasktop has found a warm reception in the market because the making and management of software is these days “core to modern innovation,” said Mike Satterfield, partner at Yaletown.
Visier Inc, a specialist in workforce analytics and planning, has obtained $25.5 million in a Series C financing round. The round was led by U.S. venture capital firm Adams Street Partners, with the participation of Foundation Capital and Summit Partners, which accounted for Visier's Series A and B rounds. To date, the Vancouver-based company has raised $49.5 million. Visier said the new funds will be used to broaden adoption of its applied big data technologies within the human resources market, and penetrate new growth areas. Founded in 2010, the company has over the past year released new product offerings, doubled its customer count, and opened a new office in San Jose, California.
The inaugural BDC Innovation Award was recently given to Montréal’s Mirametrix, a three-year old company that specializes in eye tracking solutions. Mirametrix was singled out for the honour because of its cutting-edge technology, which is changing the way human beings interact with machines. To a significant extent, Mirametrix’s achievement is equally that of its Canadian venture capital backer, the no-less-innovative TandemLaunch.
Bit Stew Systems Inc has received a $3.5 million credit facility from U.S. technology investor Silicon Valley Bank. Founded in 2005, the Vancouver-based Bit Stew is a provider of integrated, real-time network operations solutions for the utility sector. Update: The company said the new partnership with Silicon Valley Bank builds on the Series A funding that was provided last December by Canadian venture capital firm Yaletown Venture Partners and Cisco Systems Inc. The new credit facility will enable Bit Stew to invest in its go-to-market strategy.
Venus Concept, a developer and manufacturer of devices for the medical aesthetic market, has secured $10 million in financing. The company's backer is U.S. venture capital firm Longitude Capital, which is focused on investing in medical technology and drug development companies. Funding proceeds will allow Venus Concept to further its R&D investments, strengthen sales operations in growing markets and implement its subscription-based business model worldwide. Led by a team of executives and researchers in the medical aesthetics industry, the Toronto-based company was founded in 2009.
Dejero has received $4.5 million in growth funding from Canadian venture capital firm BEST Funds. Based in Waterloo, Ontario, Dejero is a wireless transmission company. Update: Proceeds of the investment will allow the business to extend its sales growth while continuing to develop cutting-edge technologies for the broadcasting industry. The Toronto-based BEST funds earlier this year invested in enterprise solutions provider PitchPoint Solutions Inc and wireless optimization provider XipLink Inc.
AudienceView has raised a new round of equity financing. The round, the size of which was not disclosed, was led by Canadian venture capital firm Five Corners Capital, which in 2013 assumed oversight of fund investments formerly managed by Ventures West Capital. Five Corners was joined by new and existing investors. Funding will be used to grow AudienceView's self-serve e-commerce platform, through which organizations and individuals can manage their own branded online store to drive ticketing, fundraising and related e-commerce offerings. Founded in 2002, the Toronto-based company has been venture-backed since 2005. Ventures West 8 LP is AudienceView's largest shareholder.
Georgian Partners has taken time away from fundraising to lend support to a Canadian ed-tech startup it feels has especially strong growth prospects. The Toronto-based VC firm has led the $10 million Series B financing of Top Hat, a mobile and web-based provider of classroom engagement tools. It was joined in the round by existing investors. The deal comes only a few weeks after Georgian Partners wrapped up the initial close of its second applied analytics fund, raising $100 million.