Kirk Falconer
CIBC Innovation Banking has closed a $2.7 million (US$2 million) growth financing with CareGuide, a Toronto-based provider of online care services. Founded in 2012 by Chief Executive Dad John Philip Green, CareGuide connects millions of North American caregivers with families needing child care, pet care, elder care and home-care services. It also provides payroll services. CareGuide is backed by Canadian and U.S. investors, including Inovia Capital, Plaza Ventures, Structure Capital, FJ Labs, Hedgewood, Conconi Growth Partners, 500 Startups and some 60 angel investors. CIBC Innovation Banking is the technology lending arm of CIBC.
Inventys, a Vancouver-based carbon technology company, is leading a project to develop a full-cycle solution to capture and reuse CO₂ from a cement plant while also reducing emissions. Project CO₂MENT secured undisclosed funding from Swiss building materials group LafargeHolcim and French energy company Total. Other investors included CO₂ Capture Project and the B.C. and federal governments. Inventys, which closed a $21 million Series C round in February, said the project will assess the potential for a new model for supplying post-combustion CO₂ to the existing CO₂ market and the feasibility of new CO₂ utilization technologies.
Inventys, a Vancouver-based carbon technology company, is leading a project to develop a full-cycle solution to capture and reuse CO₂ from a cement plant while also reducing emissions. Project CO₂MENT secured undisclosed funding from Swiss building materials group LafargeHolcim and French energy company Total. Other investors included CO₂ Capture Project and the B.C. and federal governments. Inventys, which closed a $21 million Series C round in February, said the project will assess the potential for a new model for supplying post-combustion CO₂ to the existing CO₂ market and the feasibility of new CO₂ utilization technologies.
Venture capital funds put $1 billion to work in 142 Canadian technology deals in the first quarter of 2019, according to a report by the Canadian Venture Capital and Private Equity Association (CVCA). CVCA said Q1 2019 marked the fifth billion-dollar quarter in Canada since 2013 and saw 48 percent more dollars invested than in Q1 2018. The report found seven mega-rounds ($50 million-plus) during January through March, which accounted for 57 percent of the total invested. Information and communication technology companies captured 59 percent of VC invested in Q1 2019, followed by clean technology companies, which took 19 percent. Late-stage companies secured 47 percent, the largest share since 2014.
Venture capital funds put $1 billion to work in 142 Canadian technology deals in the first quarter of 2019, according to a report by the Canadian Venture Capital and Private Equity Association (CVCA). CVCA said Q1 2019 marked the fifth billion-dollar quarter in Canada since 2013 and saw 48 percent more dollars invested than in Q1 2018. The report found seven mega-rounds ($50 million-plus) during January through March, which accounted for 57 percent of the total invested. Information and communication technology companies captured 59 percent of VC invested in Q1 2019, followed by clean technology companies, which took 19 percent. Late-stage companies secured 47 percent, the largest share since 2014.
Absorb Software has acquired Torch LMS, a Lehi, Utah-based software-as-a-service learning management system provider. No financial terms were disclosed. Absorb, a Calgary-based learning technology company, said the acquisition is the first of several it expects to make in the global market with the backing of Silversmith Capital Partners. Silversmith, a U.S. growth equity firm, led Absorb's $59 million financing in 2017. Founded in 2002 and led by CEO Mike Owens, Absorb is the maker of Absorb LMS, a system for businesses, higher education, government and non-profit agencies, and the newly introduced Absorb Infuse.
Absorb Software has acquired Torch LMS, a Lehi, Utah-based software-as-a-service learning management system provider. No financial terms were disclosed. Absorb, a Calgary-based learning technology company, said the acquisition is the first of several it expects to make in the global market with the backing of Silversmith Capital Partners. Silversmith, a U.S. growth equity firm, led Absorb's $59 million financing in 2017. Founded in 2002 and led by CEO Mike Owens, Absorb is the maker of Absorb LMS, a system for businesses, higher education, government and non-profit agencies, and the newly introduced Absorb Infuse.
McRock Capital has increased its stake in Invixium, a Toronto-based maker of biometric solutions and software analytics for access control and workforce digitalization. McRock, a Canadian industrial internet-of-things venture capital firm, invested through the company's Series B financing. As a result, it is Invixium's largest shareholder. The undisclosed round was led by Connecticut Innovations, which Invixium reported this month agreed to invest up to $1 million, and joined by existing investor BDC Capital. Founded in 2012 by CEO Shiraz Kapadia, Invixium recently launched its TITAN line, a biometric device with facial recognition and finger vein or fingerprint authentication.
Forcen, a Toronto-based developer of force-sensing technology, has secured $500,000 in initial seed-stage financing. The round was led by Canadian technology investor NorthSpring Capital Partners and joined by angel investors from Golden Triangle Angel Network and Angel One. Forcen, formerly SensOR Medical Laboratories, develops force-sensing film for medical devices, surgical robotics, industrial robotics, and the aerospace and defense industries. Founded in 2015 by CEO Robert Brooks, Forcen will use the round's proceeds for more equipment, new hires, meeting demand and to prepare its technology for large-scale production.
ApplyBoard, a Kitchener, Ontario-based international student recruitment platform, has raised $55 million in a Series B financing. The round was led by U.S. growth equity firm Anthos Capital. It was joined by existing investors, including Artiman Ventures, which led last year's $17 million Series A financing. Founded in 2015 by CEO Martin Basiri and CMO Meti Basiri, ApplyBoard provides an artificial intelligence-enabled platform that helps international students apply to study at North American educational institutions. To date, it has assisted more than 45,000 students with their applications. ApplyBoard will use the funds raised to further develop its technology, enter new markets, and hire additional talent.