Montréal-based Amilia has raised a $35-million round to expand its management and payment software into more local community and recreation centres.
The funding round was led by Toronto-based private equity firm Vertu Capital, which invested $30.5 million on its own, with participation from returning investors Export Development Canada (EDC), the Canadian Business Growth Fund (CBGF), and Investissement Québec (IQ).
Amilia will invest the capital in its team and technology, the company said in a statement.
Amilia has seen a 130 percent revenue increase since 2022.
Founded in 2009, Amilia’s software aims to help local organizations like YMCAs, Jewish Community Centres (JCCs), community centres, and Parks and Recreation agencies offer activities and memberships to their community.
Its platform helps the organizations manage their registrations, billing, scheduling, financial reporting, and facility management.
Amilia marks the fifth investment out of Vertu Capital’s inaugural fund, which closed in March 2023, and its first investment in Québec. The minority investment will see Partner Eric Kafka join Amilia’s board of directors. In a statement, Kafka said Vertu sees “significant potential” to further scale Amilia’s product offering and market reach.
“Partnering with Vertu Capital at this pivotal moment brings the strategic expertise we need to scale our impact,” Amilia CEO Hugo Lachance said in a statement. “This partnership enables us to deliver the most efficient and future-ready tools to help organizations simplify operations and strengthen their communities.”
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Founded by OMERS veteran Lisa Melchoir in 2017, Vertu invests in Canadian software and software-enabled companies focused on enterprise customers. Its fund aims to put in $25 million to $75 million per deal in companies worth up to $500 million, and then double or triple the size of their businesses before selling.
Amilia says its platform is used by more than 1,500 organizations across 6,600 facilities in North America, processing nearly $1 billion in transactions annually. The company last raised $30 million in a May 2022 round led by CBGF, with participation from IQ and EDC.
In a joint statement, the trio of returning investors said their belief in Amilia has grown stronger since their first investment, which is reflected by its 130-percent revenue increase over the past three years.
Feature image courtesy Amilia.