Category Archives: Raised Money

Wave, Toronto financial software firm, raises $32.38m Canadian in funding

Wave , the leading provider of financial management software for entrepreneurs and small business owners, raised US$24 million strategic financing.

National Australia Bank (NAB), Royal Bank of Canada (RBC), Portag3 (the investment arm of PowerCorp focusing on financial services innovations), and Exhibition Capital participated in financing the deal. The investment also includes funding from existing investors CRV, Social Capital, BDC IT Venture Fund and BDC Capital, OMERS Ventures, Harbourvest and OurCrowd.

Wave employs about 150 employees mostly in their Toronto and Kitchener offices.

The company manages more than $175 billion in income and expense transactions for its customers, including $21 billion in annual invoicing. The company’s first product was a free online accounting software designed for businesses with 1-9 employees, followed by invoicing, personal finance and receipt-scanning software (OCR). In 2012, Wave began branching into financial services, initially with Payments by Wave (credit card processing) and Payroll by Wave, followed by Lending by Wave in February 2017.

Kirk Simpson, CEO and co-founder of Wave, says,

“Since 2010, Wave has been an innovator in small business financial solutions. Our customers tell us that by deeply integrating financial services into our cloud-based software, we are helping them thrive while changing how they think about and use small business financial products.”

Toronto TouchBistro, restaurant startup, secures CDN$16.3m in funding

Toronto based TouchBistro raised $16.3m in funding this round, and $45.3m to date. The startup provides an easy and smart iPad-based POS system for restaurants, cafes, bars, & more. Touchbistro currently employs around 150 mostly in Toronto but as well as New York.

TouchBistro Inc. was founded by Alex Barrotti in 2010. Barrotti had previously founded INEX, a web-based online storefront creator, which he sold to Infospace (now Blucora) in 1999 for $45 million.

The app is deployed in over 9,000 restaurants in 37 countries around the world.

Pythian, Ottawa based company, received $15m in funding

Pythian has received funding to further geographic expansion into Europe as well as to repurchase shares from some long-term shareholders.

Pythian is a global IT services company, based mainly in Ottawa, that specializes in designing, implementing, and managing systems that directly contribute to revenue and business success.

You can see their new offices in the video below:

Toronto startup Platterz, catering firm, secures $6.7m financing

Platterz, Toronto company, that makes it incredibly easy for companies to order shareable food from hundreds of top local restaurants and caterers, has received $6.7m in financing. This funding was provided by AltaIR Capital, Globalive Capital, Kevin Kimsa, Dennis Bennie, Ran Makavy and Oren Zeev.

The company right now is based in Toronto, Ontario and employs about 25 employees and is looking to double in size ASAP.

Eran Henig, Co-founder & CEO of Platterz said:

“We’re thrilled with the incredible traction we’ve seen so far in the market, and most importantly with the overwhelming positive feedback we’ve received from customers over the last year. Our customers appreciate that we’ve taken the time to truly understand their needs and develop the one-stop catering shop they’ve been waiting for all these years. We’re empowering them in ways that were simply not possible without technology.”

Video features Platterz catering services:

Montreal newly named Bus.com raises $5m, changes the name from ShareTheBus

Newly named Bus.com ridesharing compamy raised $5m USD in Series A. This company is not to be confused with another Montreal success story BusBud.com.

Bus.com removes all of the friction involved in bringing a group of people to an event or experience. The app makes it easy to organize, book, join and enjoy bus trips. Bus.com motto is

“organizing group travel should be just as easy and fun as the trip itself”.

Montreal company employs over 30 employees and is now looking to expand.

You can watch ShareTheBus (aka Bus.com) video posted on FounderFuel back in 2015:

https://vimeo.com/127517601

Bus.com posted the following comment on the blog after raising the money:

When we started Sharethebus, we were set on increasing ridesharing on buses. We’ve accomplished that, and so much more. It began with festivals and then rapidly grew to include bus rides across North America to athletic events, collegiate competitions, and political rallies to name a few. We moved over 160,000 people – many of which were rideshares, but a large percentage were full bus transportation organized by our event partners.

That was our turning point.

As our company expanded, we’ve outgrown what the name Sharethebus implies. Our rebrand comes at a time where our goals have grown to include not only the needs of riders, but those of event organizers and bus partners as well.

Better busing is key for the future of travel. The rebrand and funding will help us improve the bus travel experience while reflecting a larger and more encompassing vision.

While today we celebrate how far we’ve come and our new identity, we also have big plans for tomorrow.

We’re looking to enhance our services for each of our stakeholders. This means empowering event organizers, strengthening relationships with bus partners, and elevating the rider experience. To do so, this coming year we’ll continue creating industry-leading technology while providing a simple booking process, experiential add-ons, flexible payment options, improved pricing, and access to new markets.

Thank you for getting us to where we are today. It has been a crazy ride so far, and we hope that you’ll join us as we continue on this journey.

Vancouver Startup TaskTop Secures $11.3M in Additional Funding

The money was raised by AVX Partners, as well as Austin Ventures and Yaletown Partners.

Company provides Software Lifecycle Integration with over 110 employees located mostly in Vancouver, BC.

Over one million users employ Tasktop’s Value Stream Integration technology to transform software development and delivery. Tasktop not only unifies the software development and delivery team, but also provides unprecedented visibility into the business critical processes of software delivery.

According to Neelan Choksi, COO and President, Tasktop,

“We’re excited to have received this continued vote of confidence from AVX Partners, Austin Ventures and Yaletown Partners. This round will enable us to speed up our efforts to meet the needs of development organizations struggling to realize the business-critical benefits of their enterprise Agile and DevOps initiatives.”

Vancouver startup GoFetch.ca raises $1.4m

GoFetch.ca , 10+ people startup based in Vancouver, raised $1.4m valuing the company at $7m.

Founded in June of 2015, GoFetch.ca is Canada’s largest community marketplace connecting dog owners with trusted dog walkers and sitters. With GoFetch, dog parents can discover, book, and manage personalized care for their dogs, including dog boarding, sitting, and dog walking. New sitters and walkers go through a background check, provide references, give GoFetch a dog-care plan, and go through the GoFetch vetting process.

Thousands of Canadians have used and have had positive experiences on GoFetch. GoFetch is venture-backed and has launched across Canada. GoFetch is one of the fastest-growing tech companies in Canada, and Canadian leader online marketplaces where owners can find services for their pets. The company started with dog walk and is expanding into other services.

You can watch Canadian CTV news profiled the company back in 2016: