Canadian startup news of the week (06/03/17)

Welcome to BetaKit’s startup stories of the week! Here, you will find the week’s most important news, features, and editorials published on BetaKit. If you prefer this update hit your inbox every week, make sure to subscribe to the BetaKit Newsletter using the form at the bottom of this page.

Top Stories of the Week

Wave

Wave raises $32 million from RBC, Portag3 Ventures

The company has plans to integrate artificial intelligence and machine learning algorithms to automate basic accounting functions and provide actionable insights to entrepreneurs.


SteveMcCartney

Steven McCartney joins Ssimwave as president, Communitech hires Greg Barratt as new VP

Steven McCartney will have oversight of sales, operations, and strategic growth of Ssimwave.


NACO

NACO report says Canadian startups received $157.2 million from angel groups in 2016

According to the report, Canadian angel groups made 418 investments in 2016.


Startup Milestones

  • TouchBistro raises $16.3 million Series C to continue North American expansion (Read here)

  • ProntoForms raises $4.5 million for automated workflow management platform (Read here)

  • Beanworks raises $4.5 million Series A, adds new VPs (Read here)

  • HeyOrca raises $2 million to build up US presence and double headcount (Read here)

  • Klipfolio adds former Invest Ottawa exec Jonathan Milne as head of community and strategic partnerships (Read here)


Must Reads

BetaKit

#BetaKit1on1: Kik’s Christopher Best on being the underdog and building in Canada

“We’re this underdog in this massive race with these huge competitors, but we want to do this huge thing and we want to do it in Canada."


BetaKit

Ask an Investor: Where should I incorporate my startup?

This week on Ask An Investor, we answer a question on where should founders incorporate their company legally.


CANCON PODCAST EP. 70: Canada’s supercluster competition + women VC frustrations

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Amira Zubairi

Amira Zubairi

Amira Zubairi is a staff writer and content creator at BetaKit with a strong interest in Canadian startup, business, and legal tech news. In her free time, Amira indulges in baking desserts, working out, and watching legal shows.