Category Archives: Raised Money

Toronto Travel Startup SnapTravel Snaps $13.2m Additional Investment

Snaptravel , Toronto Travel startup, is super cool to use as you can just your Facebook messenger to talk to their smart AI enabled bot to secure the best deals on hotel websites around the world.

So it comes no surprise that they secured additional $13.2m on top of existing $8m to raise capital all the way $21.2m.

Even famous NBA star player Stephen Curry who plays for Golden State Warrior has decided to invest in the Toronto startup.

Snaptravel Co-founder and CEO Hussein Fazal said:

“Online hotel booking is an incredibly transactional and noisy process, where pop-ups and expiring offers inundate consumers. We are reimagining this experience – making booking hotels feel as natural and personal as talking to a friend. Beyond travel, we’re at the start of a shift in which consumers no longer shop on individual websites or apps, but entirely via conversations with brands.”

Not surprisingly customers have used their app to book over 350,000 nights at 35,000 different hotels across 5,800 cities.

Congrats Snaptravel – thanks for making Toronto great place to do business for startups. Sweet Travels.

25 Canadian Startups Where People Want to Work at in 2018 / 2019, According to LinkedIn

Startups are changing the world. And Canada is no exception. We have thousands and thousands of hard working entrepreneurs eager to leave their mark on this great country and the world.

The new study conducted by LinkedIn found the most desirable 25 startups in Canada where people actually want to work at. If your startup did not make it – do not worry – LinkedIn could only profile startups with more than 50 employees and in business for 7 or less years.

This year the list consists mainly of Toronto companies with only three Montreal and one Waterloo companies making the list.

Top 25 Canadian Startups You Want to Work at in 2018/2019


Wealthsimple is investing on autopilot. We build you a personal, low-cost portfolio and put your money to work like the world’s smartest investors. We’re on a mission to bring smarter financial services to everybody, regardless of age or net worth.

Headquarters Toronto, ON

Year founded 2014

Company size 51-200 employees

Specialties wealth manager, financial advisor, investment manager, portfolio manager, and investment adivsor



Coinsquare is Canada’s most secure digital asset trading platform for trading Bitcoin, Ethereum, and other digital currencies. Since our founding in 2014, we’ve never lost a coin.

Headquarters Toronto, Ontario

Year founded 2014

Company size 51-200 employees

Specialties Bitcoin, Blockchain, Digital Assets, Exchange, Trading, Ethereum, FinTech, Cryptocurrency, and Financial Services



Element AI is an artificial intelligence solutions provider that gives organizations unparalleled access to cutting-edge technology. Bringing together the best in entrepreneurship, technology and academic ecosystems, Element AI is building an AI-First World to elevate our collective wisdom.

Headquarters Montreal, Quebec

Year founded 2016

Company size 201-500 employees

Specialties Artificial Intelligence, Machine Learning, Software, Operations Research, Consulting, Strategic Consulting, Incubator, Accelerator, and Startup Factory



League Inc. is re-imagining employee health benefits, and is on a mission to empower people to live healthier, happier lives —every day.

Headquarters Toronto, Ontario

Year founded 2014

Company size 51-200 employees

Specialties Insurance, Health Benefits, Employee Health Benefits, HR, Mobile App, Life Insurance, Insurance Broker, Benefits, Employee Benefits, Healthcare, Healthcare Administration, Fintech, Health Insurance, Insurtech, Human Resources, HR, and Digital Health


Kira Systems

Kira Systems helps enterprises uncover relevant information from their contracts.

Headquarters Toronto, Ontario

Year founded 2011

Company size 51-200 employees

Specialties contract review software, lease abstraction, M&A due diligence, and contract management database population


Tribal Scale

The TribalScale team spent the past decade accelerating the mobile revolution. We helped drive the shift as the web gave way to mobile. Now, as mobile usage surpasses web, we are on the brink of the next shift, from mobile to emerging technologies. As architects of the products that bridged the last gap, we’re prepared to help companies evolve into a new era of innovation.

Headquarters Toronto, ON

Year founded 2015

Company size 51-200 employees

Specialties Mobile Software Development, Android, iOS, tvOS, Smart TV, watchOS, OTT, UI Design, UX Design, Extreme Programming, Agile Development, Beacons, Smart Car, Sensors, Open Source Software, and Pair Programming


Ample Organics

Ample Organics is a global leader in cannabis technology, providing innovative business solutions that facilitate compliance with government regulations.

Headquarters Toronto, Ontario

Year founded 2014

Company size 51-200 employees

Specialties Seed to Sale Software, Tracking and Reporting, Cannabis Software, Compliance Software, Product Development, Software Engineering, Product Support, Data Security, ACMPR Compliance, Cannabis Consulting, Inventory and Sales, Technology, and Software Development



Ritual is a social ordering app that taps networks of co-workers and colleagues for fast and easy pick up and pay at a wide variety of local restaurants and coffee shops.

Headquarters Toronto, Ontario

Year founded 2014

Company size 11-50 employees



Loopio’s RFP response software streamlines the way enterprises respond to RFPs, RFIs, and Security Questionnaires. Our platform makes sales content accessible and enables collaboration across the organization.

Headquarters Toronto, ON

Year founded 2014

Company size 51-200 employees

Specialties Proposal Management Software, Proposal Software, RFP Response, Sales Effectiveness, Proposal Writing, Knowledge Management, and RFP Software



We are North America’s first social water brand, dedicated to the pursuit of positive experience and providing the highest quality water in the world, with a reduced environmental footprint. Founded by serial entrepreneur, Nicholas Reichenbach, Flow offers consumers the healthful benefits of drinking naturally alkaline spring water from a local and sustainable source.

Headquarters Toronto, Ontario

Year founded 2014

Company size 11-50 employees



Planswell is a team of really smart people working together to change the financial industry for the better. We started by building software that uses proven principles of financial planning to calculate how to maintain the best possible standard of living throughout your life. Tens of thousands of Canadians have created plans with us, and we’re focused on reaching as many people as possible.

Headquarters Toronto, Ontario
Year founded 2015
Company size 51-200 employees
Specialties Personal Financial Planning, Technology, Investment Advising, Online Wealth Management, Insurance Planning, and Mortgage Financing



StackAdapt is the no. 1 performing native advertising platform helping brands accelerate customer engagement and acquisition. This state-of-the-art platform is where some of the most progressive work in machine learning meets cutting-edge user experience. Ranking the highest in customer satisfaction and performance by G2 Crowd in the DSP category for the fourth time, StackAdapt is one of the fastest growing companies in Canada and ranks 6th in Deloitte’s Technology Fast 50 ranking and 23rd in Fast 500 in North America.

Headquarters Toronto, ON

Year founded 2013

Company size 51-200 employees

Specialties Native Advertising, Content amplification, Programmatic Native Advertising, Demand-Side Platform, Programmatic Media Buying, Native Ads, In-feed Native Advertising, Content Distribution, video advertising, and Ominchannel Advertising


Thalmic Labs

Thalmic Labs is pioneering new ways of interacting with digital devices. With a mission to merge people and technology, the company is revolutionizing how we will interact with technology in the future. Its first product, the Myo™ armband, measures electrical activity in muscles to wirelessly control computers, phones and other digital technologies, resulting in seamless interaction between humans and devices.

Headquarters Kitchener, Ontario

Year founded 2012

Company size 51-200 employees

Specialties Human Computer Interaction, Wearable Technology, Research and Development, and Gesture Control Technology


Prodigy Games

Imagine an entire generation of kids around the world rushing home to do their math homework because it was seamlessly integrated into their favourite video game. That’s Prodigy, and we are revolutionizing the way the world learns math.

Headquarters Greater Toronto Area / Burlington, Ontario

Year founded 2011

Company size 51-200 employees

Specialties E-learning, Game Development, Education Technology, and Emotion Based Learning



Dialogue offers a range of healthcare services to employees and their families. We work hard to keep individuals healthy, present at work, productive and happy.

Headquarters Montreal, Quebec

Year founded 2016

Company size 51-200 employees

Specialties Healthcare, Telemedicine, Employee Benefits, and Health & Wellness


Collective Arts Brewing

Collective Arts Brewing is a grassroots beer company fusing the craft of brewing with the inspired talents of emerging artists, musicians, photographers & filmmakers. Our brewery is dedicated to promoting artists and raising the creative consciousness through the sociability of craft beer.

Headquarters Toronto Area / Hamilton, Ontario
Year founded 2013
Company size 11-50 employees
Specialties Beer, Craft Beer, Art, Music, Film, Collaboration, Visual Art, Call for Art, and Design



Rangle is a digital transformation consultancy that plans, designs and builds innovative applications for leading global clients. Our unique approach to partnership-based development ensures clients can move quickly from ideation to implementation.

Headquarters Toronto, ON

Year founded 2013

Company size 201-500 employees

Specialties Lean/Agile consulting, Dev Ops, Program Management, Product Management, UX Research, Customer Journey Mapping, Service Design, Design Systems, and Building end-to-end continuous innovation processes that link strategy to end-users



Tulip is a mobile application provider focused on empowering workers in retail stores. Partnered with Apple, Tulip’s mission is to harness the power of the world’s most advanced mobile technology to deliver simple-to-use apps for store associates to lookup products, manage customer information, check out shoppers, and communicate with clients. Leading retailers like Saks Fifth Avenue, Kate Spade, Coach, and Bonobos use Tulip in their stores to elevate the shopping experience, increase sales and improve customer service. For more information, visit

Headquarters Toronto, ON
Year founded 2013
Company size 51-200 employees
Specialties In-Store Mobile Platform, Cloud Platform, Big Data, Retail Sales Associate Tablet, Clienteling, Mobile POS, Product Catalog, Product Knowledge, Store Communications, and In-Store Retail Platform



We are a peaceful company. We make skincare that you can afford comfortably. <3

Headquarters Toronto, ON
Year founded 2013
Company size 201-500 employees
Specialties Cosmetics



TouchBistro is a revolutionary, complete mobile POS solution on the iPad for the restaurant industry. Manage reservations, view the menu, take orders and review sales reports with a few simple touches. Instead of servers repeatedly moving between customers and terminals for order management, servers can remain with customers and instantly submit orders to the kitchen and bar. Servers no longer need to write down an order and then enter it into a distant terminal. TouchBistro’s single entry system reduces errors and increases efficiency. Menu items can be presented in vibrant color with every detail captured. Menus can be quickly and easily updated and even published to the Web, providing more dynamic impact than a traditional menu can provide.

Headquarters Toronto, ON
Year founded 2011
Company size 201-500 employees
Specialties Mobile Application Development and Point of Sale



Behaviour is one of the newest entrants to the marketing agency landscape. Since November 2012, we have provided brand strategies, ideas and winning marketing programs for some of the country’s biggest and most respected brands. Our small but impressive client roster includes: Molson Coors, TELUS, Air Canada, Starbucks, and Live Clean.

Headquarters Toronto, Ontario

Year founded 2012

Company size 51-200 employees




GroupBy Inc. transforms the way retailers interact with their consumers online through data-driven commerce, media, and knowledge management software solutions. The company supports the online retail efforts of many of the world’s leading online retailers by driving more targeted site traffic and increases in revenue through its platform Searchandiser. GroupBy’s solutions provide industry-leading features for search, navigation, merchandising, search engine optimization (SEO) and search as you type (SAYT). Founded in 2013, GroupBy is headquartered in Toronto, Canada and has offices around the world.

Headquarters Toronto, ON
Year founded 2013
Company size 51-200 employees
Specialties Searchandiser, Searchandiser Compute Edition, Hub Source, Ecommerce Search, Media Search & Knowledge Management, Merchandising, search, and Ecommerce



AlayaCare is an end-to-end home health care software platform, focused on providing better patient outcomes through the use of robust clinical documentation, exceptional back office solutions, and next-generation technology.

Headquarters Toronto, ON

Year founded 2014

Company size 51-200 employees

Specialties Home Healthcare, Healthcare, SaaS, Technology, Software, and Home Care



TrackTik is an intuitive security workforce management platform providing actionable insight through integrated field operation and back office solutions.

Headquarters Montreal, Quebec

Year founded 2013

Company size 51-200 employees

Specialties Security Operation Management Software, Workforce Management Solutions, Security Management Softwares, Dispatch Solution, Physical Security, Guard Tour System, Mobile Reporting, Incident Reporting, Scheduling Software, Security, Dynamic Tracking, Security Guard Management, and Healthcare Security



Connected is a software product development firm. We partner with ambitious companies across the product lifecycle to build products that drive user and business impact.

Headquarters Toronto, Ontario

Year founded 2014

Company size 51-200 employees

Specialties Software Eningeering, Android, UX Design, Smart Technology, IoT, Web Development, Mobile App Development, Product Development, Wearable Technology, Firmware Development, UI Design, User testing, Product Strategy, iOS, conversational interfaces, interaction design, motion design, augmented reality, innovation, react, design thinking, and voice


46 Canadian Tech Startups That Raised Money Last 3 Months (04-07 2018)

We have been taking some deserved time off and neglected to update some VCs’ moves and money raised in the last few months or so (April – July 2018). Here is recap of what happened in Canadian tech when it came to raising money. Once again, Toronto and Montreal companies dominated the tech scene. Congrats to all!

* Any money raised over $10M are in bold letters. 

  • #paid, Toronto startp and world’s leading influencer marketing platform for authentic brand collaborations, raised $9m
  • Agreement Express, a Vancouver onboarding automation software for the financial services industry, received an undisclosed investment
  • Airy3d, a Montreal startup that brings 3D machine vision to any camera, all without sacrificing battery life, footprint, or image quality, raised US$10M
  • Alavida Health, a Vancouver company, offering treatment of alcohol use disorder that combines drug therapy and counselling, raised $2M
  • Algolux , a Montreal startup, empowers cameras to see more clearly and perceive what cannot be sensed with today’s imaging and vision systems, raised $10M
  • ApplyBoard, a Waterloo startup for an AI-enabled marketplace uniquely designed for international students to apply to study at the best institutions , raised $13M
  • Atomic Reach, a Toronto startup that provides content intelligence platform built to help marketers and agencies create high quality, consistent and profitable content, raised $3.4M
  • Auvik Networks, a Waterloo startup, most efficient & profitable way for MSPs to manage network infrastructure, raised $20M
  • AvenueHQ, a Vancouver startup brings together designers, marketers, engineers, writers, and other creative minds, to help marketing for REALTORS®, closed a $4.5M
  • Avrij, a Fredericton, New Brunswick company that develops a tool that lets you determine what online information is important to you, when you want to know it, and how , raised $1.2M
  • BenchSci, a Toronto startup, a reagent intelligence platform that transforms published data into relevant insights for materials and methods, raised US$8m
  • Breather, a Montréal startup that creates modern workspaces you can keep for hours, days or months — all to yourself, raised $45M in additional funding
  • Canary Medical, a Vancouver medical data company, raised an undisclosed amount
  • Coveo, a Quebec City, provider of intelligent and predictive search technologies, raised $100m
  • Cozystay Holdings, a Vancouver vacation rental platform targeting Chinese vacationers, raised $4M
  •, a Vancouver startup capturing, sharing, and finding the information needed to close business made as easy as taking a note, raised $2M 
  • ecobee, a Toronto home automation company that makes thermostats for residential and commercial use, raised an additional $47M
  • Eddyfi Technologies, a Quebec company that develops and markets advanced eddy current and electromagnetic solutions, purchased M2M, a Paris, France manufacturer of ultrasonic
  • Elastic Path, a Vancouver company, the leader in ecommerce software that empowers the world’s best brands, closed a $43M in additional funding
  • Eventbase Technology, a Vancouver leading mobile event platform trusted by some of the world’s most recognizable brands, raised $6.5M
  • Fiix (formerly known as Maintenance Assistant), a Toronto startup that provides cloud-based maintenance & asset management software, raised raised $12M
  • inkbox, a Toronto startup, providing tattoo that lasts only 4-6 days, raised $13M
  • Instant Financial, a Vancouver startup, provides workers with access to their pay after every shift, raised $11.4M
  • Inversago Pharma, a Montreal biotech startup, raised $7M
  • League, a Toronto company that’s re-imagining employee health benefits, and is on a mission to empower people to live healthier, happier lives —every day, raised C$62M
  • LoginRadius, a Vancouver startup, helps companies deliver a connected customer experience, build an integrated marketing ecosystem, and centralize customer data , raised $17M
  • MedAvail, a Toronto pharmarcy company allowing automated dispensing and medication management technologies, raised $16.6M
  • MindBridge Analytics, an Ottawa analytics company using artificial intelligence to uncover material irregularities in data, raised $8.4M
  • Miovision, a Kitchener startup thtat creates intelligent solutions for in-house and outsourced traffic data collection, raised $15M
  • Motorleaf, a Montreal startup , that uses artificial intelligence to allow crop to grow themselves, raised USD$2.85m
  • NorthOne, a Toronto startup building Canada’s first mobile-first API-based banking platform that helps startups and small businesses bank, manage their finances, raised $2M
  • Polystyvert, a Montréal startup on a mission to recycle polystyrene (PS), also known as Styrofoam, raised C$11M in funding
  • Primal, a Kitchener startup that allows companies to use artificial intelligence to read and interpret text in any form , received $2.3M loan
  • Raven Telemetry, an Ottawa company, that helps manufacturers leverage their data, raised $6.1m
  • Ritual, a Toronto startup that allows social ordering from your favourite local restaurants and coffee shops, closed a $70M
  • SensorUp, a Calgary startup that empowers developers to build applications that connect with everything in the world, raised $2M
  • Stay22, a Montreal startup, providing map-based accommodation tool , raised $750K 
  • Strainprint Technologies, a Toronto startup that provides mobile app for medical cannabis, raised $3.8M
  • Terminal, a Toronto startup that helps businesses build and manage world-class remote technical teams, raised $10M
  • The Stars Group , gaming and online gambling company traded on Nasdaq and the Toronto Stock Exchange, purchased Sky Betting & Gaming, a British-based gambling company
  • TouchBistro, a Toronto company, providing an easy and smart iPad-based POS system for restaurants, cafes, bars, & more, raised additional C$72M
  • TripStack, a Toronto startup, providing customers with all 100,000 direct flights and the billions of missing itineraries in one search , raised $6M
  • Uberflip, a Toronto staartup , content marketing platform, closed a $32m 
  • Veerum, a Calgary startup, tackling a global, epidemic problem that sees $1.6 trillion wasted every year through capital project cost and schedule overruns, raised $3.9M
  • Xanadu, a Toronto startup trying to create the world’s first practical quantum computer, raised $9M
  • Zucara Therapeutics, a Toronto developer of the first once-daily therapeutic to prevent hypoglycemia (low blood sugar) in patients with diabetes, raised US$3.9m

Money Raised & Companies Acquired – Canadian 2018 March Edition

March was a quieter month with fewer deals going on but there were still quite a few deals taking place. The notable deals came from Toronto ecobee raising $80m and Vancouver hootsuite raising $65m. Even an interesting concept Cryptokitties game developed in Vancouver, where you breed, raise and sell cats, got $12m in funding. Most money discussed below are in Canadian dollars.

Happy Capitalism Boys & Girls!

List of Notable of Canadian Companies That Raised Money in March 2018

Swift Medical, Toronto based, wound care management software, received $11.6m in funding

The world’s most advanced and comprehensive wound care management software Industry leaders like Healogics and PointClickCare count on Swift Medical to deliver better outcomes for all. Swift Medical delivers the most advanced wound care management software for the healthcare enterprise.

A post shared by Hootsuite (@hootsuite) on

Hootsuite, a Vancouver social media company, received financing approval for up to $65m for the growth expansion.

Manage all your social media in one place From finding prospects to serving customers, Hootsuite helps you do more with your social media.

CryptoKitties, Vancouver based, blockchain game, received $12m

CryptoKitties is one of the world’s first blockchain games. ‘Blockchain’ is the technology that makes things like Bitcoin possible. While CryptoKitties isn’t a digital currency, it does offer the same security: each CryptoKitty is one-of-a-kind and 100% owned by you. It cannot be replicated, taken away, or destroyed.

iS5 Communications, Toronto based company, developer of Ethernet cards, received investment from Phoenix Contact Innovation Ventures

iS5Com is an integrated service and solutions provider. Manufacturer of intelligent, Industrial Ethernet products designed to be used in the harsh environments.

Green Tank Technologies, Toronto based firm specializing in cannabis vaporization hardware, got $4.3m in financing from Snoop Dogg’s VCs

Vaporizing hardware that is manufactured by a team of professionals that understand your extracts. Premium quality vapes and accessories with built-in True-Taste Ceramic Core Technologies. Find your vaporizer solutions with Green Tank Technologies.

CareWorx, Ottawa based senior care technology provider, received a $17m in funding

CareWorx delivers the very best in Managed Services to our customers. CareWorx Senior Care Division is the industry’s largest provider of managed point-of-care, eMAR, mobile computing and wireless solutions.

Poka, Quebec City, training and knowledge platform for manufacturers, got $10 million in financing

Poka is a Web and mobile app that gives factory workers the power to capture, consume and share critical information in real-time on the plant floor, leading to improved productivity. By creating a standardized multimedia knowledge base of procedures, training content and solutions related to each workstation and machine, Poka helps reduce production downtime, improve quality and safety, and facilitate communication across factories, departments and shifts.

Mojio, Vancouver, connected car cloud company, got an additional funding from their investors

Open, scalable and hardware agnostic, Mojio is the cloud platform of choice for the deployment of secure connected car apps and services. Mojio’s platform delivers a smarter, safer and more convenient driving and vehicle ownership experience to subscribers of major network operators, including Bell Canada, Deutsche Telekom, Rogers Communications, T-Mobile and TELUS.

Purpose Financial, Toronto based investment firm, has acquired Thinking Capital Financial Corporation, a Montreal based Canadian fintech lender

Today we are proudly the Canadian leader in alternative financing for small businesses. It has been a long road, including technological breakthroughs, key talent joining the team and relationships with major partners have all been key to our growth and success. This timeline summarizes our journey over the last 10 years.

ecobee, Inc., Toronto based provider of a smart Wi-Fi thermostat, received $80m in funding

ecobee is a home automation company that makes thermostats for residential and commercial use. The thermostats are controlled by using the built-in touchscreen or using an app.

ThoughtWire, Toronto based developer of an Industrial Internet of Things, got $20m in debt and financing

ThoughtWire’s vision is to deliver immediate business value by rapidly interconnecting software, people and the information they need in a more adaptable, scalable and focused way.

22 Canadian Tech Startups That Raised Money in January 2018

January was another great month for Canadian tech startups.

Top stories came from Ontario and Quebec with Quebec Busbud raising $11m and Ontario Wattpad raising $51m among many others. Most investments were done in Ontario and Quebec. Time to wake up Alberta and British Columbia?

Either way, great seeing hundreds of millions dollars raised in January 2018. Good job guys!

List of all startups that raised money in January 2018 in Canada.

Are we missing any? Let us know.

CanvasPop, an Ottawa, Ontario / London England / Las Vegas startup, raised $3.3m. 

The best way to print your memories as wall art, pillows, and magnets. Gallery quality canvas and photo paper. Get featured with #canvaspop.

Platterz, a Toronto, Ontario, raised US$15m 

Platterz is an online platform for ordering catered food. We make it easy to order delicious food from Toronto’s best restaurants and caterers.

Bench, a Vancouver, British Columbia, raised $18m 

Bench pairs you with a team of professional bookkeepers to do your bookkeeping, leaving you to run your business.

Nicoya Lifesciences, a Kitchener, Ontario, raised $2m 

Nicoya Lifesciences is a nanotechnology company developing sensor products that will change the world of biotechnology, lifesciences, and healthcare.

Busbud, Montreal, Quebec, raised US$11m 

Busbud is a worldwide bus and coach travel company that allows travellers to search, compare, and book intercity bus tickets.

Mnubo, a Montreal, Quebec, raised $16.5m 

Mnubo’s Internet of Things analytics solution enables manufacturers to analyze their data using out-of-the-box and artificial intelligence driven insights.

Drop, a Toronto, Ontario, raised $21m (USD) 

Get cash rewards. Redeem your Drop points for gift cards when and where you want!

Vention, a Montreal, Quebec, raised a $3.5m CAD 

Vention provides a fully-integrated 3D MachineBuilder™ and modular component library that let users design, order, and assemble custom industrial equipment machine directly from a web browser in just a few days.

Iris Automation, a Vancouver, British Columbia, and San Francisco, CA, raised $8m USD 

Iris Automation is building an AI-based collision avoidance system for industrial drones

eStruxture Data Centers, Montreal, Quebec, got $180m in funding 

eStruxture Data Centers Inc., a new network and cloud-neutral data center operator based in Montréal, announced the creation of its Canada-wide platform. It will serve the increasing demand for large, energy efficient data centers, driven by the adoption of cloud services and a move to store data within Canada.

Data Nerds, a Kelowna, British Columbia, raised $3m 

Data Nerds provides the most extensive and accurate property, neighbourhood and crime data solutions for your businesses or apps.

Clover, a Toronto, Ontario, secured $7m 

Clover is a dating app made by people who were generally tired of using dating apps. They saw them as little more than elaborate middle-men that often weren’t that effective.

Wattpad, a Toronto, Ontario, raised USD $51m 

Wattpad is a community for readers and writers where one can discover new user-generated stories, spanning across different genres including classics, general fiction, historical fiction, non-fiction, poetry, spiritual, teen fiction among others.


Anandia Laboratories Inc., a Vancouver, British Columbia startup, raised  C$13.4m 

Anandia is leading cannabis biotechnology and testing company.

Ratehub, a Toronto, Ontario, raised a $12m is Canada’s leading financial product comparison website. Our education centres, tools, and calculators were designed to empower users to make smart financial decisions.

Mylo Financial Technologies Inc., Montreal, Quebec startup, secured CAD$2.5M 

FinTech startup that offers a mobile personal finance platform to help Canadians achieve their financial goals.

Igloo Software, a Kitchener, Waterloo, Ontario, raised a CAD$60m growth equity investment 

IGLOO Software is a Canadian-based company that develops online communities and social software for business.

Ulula, Toronto, Ontario startup, raised $1m 

Ulula connects businesses, workers, communities and governments to de-risk operations and create value across global supply chains.

Inocucor, a Montreal, Quebec as well as Denver, Colorado startup, raised $9.5m 

Inocucor produces high-performance specialty biological products that naturally improve crop yields and replenish soils.

Rubikloud Technologies Inc., a Toronto, Ontario AI startup, raised $37m 

Rubikloud uses AI to help retailers transform their organization from the mass market into customer‑centric leaders.

Hive Blockchain Technologies, Vancouver, BC blockchain startup, secured C$65m 

Hive is building a bridge from the blockchain sector to traditional capital markets. HIVE is strategically partnered with Genesis Mining Ltd., the world’s leading cryptocurrency mining hashrate provider, to build the next generation of blockchain infrastructure.

8 Canadian Technology Startups That Raised Money in December 2017

Every month we list Canadian tech startups and how much money they have raised. The year ended strong with numerous companies raising millions of dollars.

December 2017 List Of Canadian Startups Raised Money

Mojio, Vancouver, BC, cloud platform for cars startup raised CAD$30M

Open, scalable and hardware agnostic, Mojio is the cloud platform of choice for the deployment of secure connected car apps and services. Mojio’s platform delivers a smarter, safer and more convenient driving and vehicle ownership experience to subscribers of major network operators, including Bell Canada, Deutsche Telekom, Rogers Communications, T-Mobile and TELUS.

LightIntegra Technology, a Vancouver, BC medical devices company, raised $3.5m

LightIntegra Technology empowers Hematologist-Oncologists, Transfusion Medicine Physicians, and Blood Banks with the information they need to provide the best care possible. Our flagship product, ThromboLUX, provides a simple and effective way to select the right blood product for the best possible transfusion outcome. ThromboLUX aids in the selection of blood products by determining the activation status of a platelet sample through a five-minute test.

Qvella, a Richmond Hill, Ontario molecular diagnostics company, raised US$20m

Qvella is a molecular diagnostics company founded in 2009 by a group of scientists and engineers with the primary goal of dramatically reducing time to results in microbiology. This objective, widely recognized as highly desirable, has proved elusive yet holds the promise of revolutionizing how medicine is practiced by offering actionable results in clinically relevant time frames to improve patient outcomes and save lives. Qvella’s Field Activated Sample Treatment (FAST™) technology utilizes a novel electrical lysing and sample treatment technique we call e-lysis™; enabling direct and fully-automated rapid detection of infectious agents from unenriched biological samples.

CrossBorder Solutions, a Belleville, Ontario-based provider of corporate tax software and services, secured $6M

CrossBorder Solutions has been keeping borders from becoming boundaries for clients throughout North America since 1997. Our staff of experienced staff ensures that each shipment is handled from origin to final destination quickly, safely and in accordance with every client’s special needs. While we utilize current technology aids to facilitate data and information exchange, we still maintain a tradition of people talking to people in a timely way. Educating, researching, strategizing and then coming up with solutions, have made us the premier service provider that companies chose to compliment their own logistics and project teams.

Artms Products, a Vancouver, BC, diagnostic imaging isotope developer, raised US$3m

ARTMS™ Products Inc. is a leader in the development of novel technologies and products which enable the production of the world’s most-used diagnostic imaging isotope, technetium‐99m (Tc‐99m), using local, hospital-based medical cyclotrons. ARTMS’ next generation high value medical isotopes include gallium-68 (Ga-68), copper-64 (Cu-64) and zirconium-68 (Zr-89). 

Aeponyx, a Montreal, Quebec micro optical switches maker , raised CAD$4.3m

AEPONYX is a fabless micro optical switch semiconductor start-up designing and manufacturing chips for fiber optic access to the cloud.

ACL, Vancouver, BC, provider of a SaaS platform for governments and companies to quantify risk, stamp out fraud, and optimize performance, raised $50m

ACL is a Vancouver-headquartered technology company focused on the global fraud detection, anti-bribery and corruption, and regulatory compliance markets. Named as one of Canada’s Top SME Employers and a BC Top Employer, ACL helps the world’s largest public and private companies stamp out fraud, operational waste and unethical business.

FindBob, a Toronto, Ontario provides transition management platforms for the financial services industry, raised USD$1.25m

Founded in 2014, Find Bob is the leading provider of transition management platforms for the financial services industry. Our mission is to ignite growth conscious cultures by aligning advisor and firm interests for every financial institution in the world.

Montreal Startup IRYStec Redefining Screen Time

IRYStec is a dynamic tech startup based out of Montreal, with the goal of changing the way we experience displays to a healthier alternative. Because of the smartphone revolution, younger age groups are exposed to screens earlier, and often used for educational purposes in early childhood development. Due to the well documented risks and dangers surrounding the prolonged viewing of screens, IRYStec has developed a solution for this very real and challenging issue facing our future generations.

Because displays are viewed under rapidly varying lighting conditions. People often strain to see and correctly interpret the content in these extreme conditions because our eyes see colour and contrast differently depending on ambient light, age and other factors. IRYStec Perceptual Display Platform (PDP) addresses this perceptual challenge.

Through its eye friendly perceptual software, IRYStec is advancing display technology for mobile, automotive, virtual reality and mobile app markets. Refining the viewing experience by reducing eye strain, improving visibility, increasing safety for drivers and saving power on any display based devices.

With IRYStec’s software deployed into these markets, harmful side effects from overviewing such as insomnia, eye strain and fatigue can be significantly reduced.

ROverhate / Pixabay

Who started the company? Do you / team members have tech background?

IRYStec goes back to 2013, when Tara Akhavan, a second-year PhD student attending the Vienna University of Technology, was presenting at a conference around high dynamic range (HDR), where her work caught the eye of who would be the company’s first investor, Montreal-based TandemLaunch.

TandemLaunch enticed Akhavan to go to Montreal and build a small team to develop this technology to make digital displays healthier. From there, intellectual property was developed, and she brought on Afsoon Soudi as cofounder and VP of research and development. “I had a software background, and I wanted complimentary co-founder on hardware side.” Toward the incubation process, IRYStec brought on Simon Morris , CEO, and final co-founder to handle the business aspects. “We knew we wanted a more senior person, and I wanted to focus on technology strategy.”


Tara Akhavan (CTO, Co-founder & Product Mgmt.)

Tara Akhavan is a technology entrepreneur with a PhD in computer vision and an MSc in Artificial Intelligence. Prior to founding IRYStec, she has been awarded for scaling an Operations and Maintenance Center (OMC) product in the Telecommunications industry from analyze and design to deployment in a 3GPP mobile network with 20 Million subscribers.

Afsoon Soudi (Co-Founder & VP New Technology Development)

Afsoon Soudi is a dedicated technologist and entrepreneur with a Ph.D. in Physics. For her achievements, she has been recognized with awards from the Material Research Society and American Vacuum Society. She has also been actively involved in organizations including SPIE promoting women in science and technology.

Simon Morris

Simon Morris (CEO)

Simon Morris is a high technology business leader with more than 25 years of experience primarily focused on building businesses based on signal processing technologies. Prior to joining IRYStec, Mr. Morris was the CEO of CogniVue Corporation which was a pioneer in the licensing of embedded vision processor technology IP until Freescale Semiconductor acquired CogniVue in 2015.

How are you being financed?

IRYStec is a venture capitalist funded company with investors that include: BDC capital, TandemLaunch, and Angels from the Montreal and Ottawa network.

What do you think will be / is a big obstacle to overcome?

Because we are a small company developing a new product, handset manufacturers are reluctant to become the first to release a smartphone using this emerging technology. It’s a question of either becoming the new innovator or remaining a follower. Because of the damaging effects of screens we can say that the early adopter will be the first socially responsible OEM.

How do you go about finding good developers / IT guys for your company?

We create an a dynamic and highly collaborative working environment that motivates and empowers every member of our team. Working closely with our research team as well as our international collaborators on cutting edge technologies, our highly skilled developers are creating new solution for various industries. This brings in the best talent to us.

Who is your biggest competition?

Apical, MiraVision.

How are you intending on taking your company to million dollars in revenues? In what markets?

Once we start being integrated into the High volume phones (not the premium models) for smartphones & tablets. We are working with a dozen or so handset manufacturers, of which more than half a dozen are in detailed evaluation stage of our smartphone technology.

What is the big lesson you’ve learned (success or failure) with this project.

Cycle time and turnaround time in the handset space is volatile and unpredictable as well as automotive design and evaluation happening faster than expected.