Kirk Falconer

Trulioo, a Vancouver-based identity verification platform, has secured $70 million in new funding, including $60 million in Series C financing. Goldman Sachs Growth Equity led the Series C, with participation from American Express Ventures, Citi Ventures and Santander InnoVentures. The other $10 million came from early investors Blumberg Capital and BDC Capital. Trulioo provides an application programming interface that gives electronic identity and verification coverage for five billion consumers and more than 250 million businesses in a range of global industries. Led by Founder and CEO Stephen Ufford, the company will use the funds raised for scaling up operations in new markets, new hires and other growth initiatives.

Sherbrooke, Québec-based education technology provider Classcraft has raised $10 million in a Series A financing. The round was led by Investissement Québec, an investment arm of the Québec government. It was joined by Whitecap Venture Partners, Brightspark Ventures and MaRS Catalyst Fund, all of which backed Classcraft's $2.8 million financing in 2017. Launched in 2013 by CEO Shawn Young, President Devin Young and CFO Lauren Young, Classcraft uses technology, games and storytelling to enhance student motivation in the K-12 education sector. It serves more than 6 million students and teachers worldwide. The company will use the funds raised to further scale its platform.

Lift & Co Corp (TSX-V: LIFT), a Toronto-based cannabis media and technology platform, has closed a $3.5 million private placement offering. The financing, consisting of senior secured convertible debentures and common share purchase warrants, was backed by U.S. cannabis private equity firm Gotham Green Partners and others. Founded in 2014 by Chairman Tyler Sookochoff, Lift provides cannabis-related trade shows, online data and product reviews, and educational resources. It will use the deal's proceeds for working capital, repaying debt and other priorities. Lift, which went public last year, secured $3 million in a Series A financing in 2017.

EPACT Network has closed a Series A financing, raising $4.5 million, PE Hub Canada has learned. The round, which brings total funding to $12 million-plus, was co-led by Disruption Ventures, a women-focused venture firm, and Yaletown Partners, an investor in emerging-growth tech companies. Vancouver’s ePACT was founded in 2012 by CEO Christine Sommers and President and COO Kirsten Koppang Telford to provide a cloud-hosted system that converts traditional paper-based forms of emergency, health and contact information to a free e-network. It is the first Canadian investment of Disruption, launched in 2018 by Managing Partner Elaine Kunda to invest in North American early-stage companies founded and managed by women.

Temenos has agreed to acquire Kony Inc, an Austin, Texas-based digital and mobile application development company focused on the financial sector. Tenemos agreed to buy Kony for an enterprise value of US$559 million and an earn-out of US$21 million. The deal is expected to close in the fourth quarter. Tenemos, a Swiss banking software provider, said the acquisition will enhance its scale and capabilities in the U.S. market. Founded in 2007, Kony was backed by Canadian growth equity firm Georgian Partners and other investors. Last month, the company raised US$37 million of debt financing from BMO's Technology and Innovation Banking group.

TerrAscend Corp has agreed to acquire ABI SF LLC, which operates a San Francisco-based cannabis cultivation facility and owns State Flower, a cannabis flower brand. TerrAscend, a Toronto-based cannabis business, agreed to initially acquire 49.9 percent of State Flower for US$2.85 million through the conversion of a convertible debenture. It will buy the remaining stake for a price based on future revenue. In May, TerrAscend completed a private placement, raising about $70 million (US$52 million), intended in part to fund the company's U.S. acquisition strategy. TerrAscend is backed by Canopy Rivers, the venture capital arm of Canadian cannabis producer Canopy Growth Corp.

Montréal-based digital health company Aifred Health has secured more than $490,000 in financing. The round was backed by Anges Québec, other angel investors based in Ontario and the United Kingdom, and Consortium MEDTEQ. Founded in 2017, Aifred specializes in clinical decision support for the treatment of depression and other mental conditions. It is developing an artificial intelligence-enabled tool to help physicians visualize a patient’s data and support the decision process. The financing's proceeds will be used to validate Aifred's business model and launch its first application in partnership with local hospitals.

Emergency preparedness and communications solution ePACT Network has closed a Series A financing, raising C$4.5 million ($3.4 million), Venture Capital Journal has learned. The round, which brings total funding to C$12 million-plus, was co-led by Disruption Ventures, a women-focused venture firm, and Yaletown Partners, an investor in emerging-growth tech companies. Disruption Managing Partner Elaine Kunda and […]

Worximity Technology, a Montréal-based smart factory analytics provider, has secured $6.25 million in a Series A financing. The round included a $5 million strategic investment by Marel, an Irish multi-national food processing company. The balance came from Worximity's existing Canadian investors Fonds de solidarité FTQ and W Investments. Founded in 2011 by CEO Yannick Desmarais, Worximity uses artificial intelligence and machine learning to enable automatic data collection, real-time monitoring, analysis and predictive insights in factory settings. The company will use the funds raised to accelerate the development of its technology and expand globally.