Canadian startup news of the week (1/09/22)

Can the Canadian tech sector sustain its growth in 2022?

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

League enters 2022 as Canada’s newest unicorn with TDM Growth Partners-led round

Sources indicated that the pre-money valuation of the financing priced League at $850 million USD, or $1.1 billion CAD, making it Canada’s last tech unicorn of 2021.

As 2021 breaks records, can the Canadian tech sector sustain its growth in 2022?

There is a growing consensus that Canadian tech is facing an inflection point⁠ — thanks largely to circumstances that could not have been predicted a few years ago.

In preparation for IPO, Clio nabs Clearco CFO

Clio has secured a new CFO from a fellow Canadian unicorn, marking the second exec departure in recent weeks for Clearco. Curt Sigfstead joined Clio at the beginning of this year as the legaltech firm preps for a potential IPO, becoming the latest in a series of executive additions for Clio.

Why Benevity’s new CEO Kelly Schmitt is already thinking about her successor

“Companies need to assess not just what someone has done, but their values,” said Schmitt.

Findings in SVB’s global healthtech report mirror 2021 trends in Canada

“We expect to see increased deal activity and volume in 2022 as healthtech companies seek growth equity partners to expand their platforms.”

Hybrid workers are vulnerable to cyberattacks. Here’s how employees can play defence at home and in the office

Speaking with BetaKit, Andrew Milne, the Chief Revenue Officer at cybersecurity analytics company Field Effect, explained how employees can partner with their employers to keep sensitive information secure.

Latest Funding, Acquisitions, and Layoffs

  • VAN – WonderFi to acquire Bitbuy (read more

  • VAN – Traction Guest acquired by PSG (read more)

  • VAN – Hubly – $1.7M (read more)

  • VAN – Wishpond acquires (read more)

  • CAL – TaxCycle to be acquired by Xero (read more)

  • CAL – Headversity – $12.5M (read more)

  • CAL – CDL Rockies promised $4.8M from OCIF, federal government (read more)

  • TOR – Weedbox acquires Goodtimes (read more)

  • OTT – Assent Compliance – $446.5M (read more)

  • MTL – CDPQ invests $100M in AppDirect’s channel partner program (read more)

  • MTL – Hardbacon acquires (read more)

  • STJ – TrojAI – $3M (read more)



“Imagine that the bank is a program.”

Conduit co-founder Kirill Gertman joins to discuss why he’s excited about decentralized finance and what’s still missing in the DeFi stack.


“This episode is going to get a little bit SaaS-y.”

A highlight of BetaKit’s interviews at SAAS NORTH, featuring: Bessemer Venture Partners, Trulioo, Plaid, RBCx, Unbounce, and L-SPARK.

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Josh Scott

Josh Scott

Josh Scott is a BetaKit reporter focused on telling in-depth Canadian tech stories and breaking news. His coverage is more complete than his moustache.

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