Canadian startup news of the week (12/02/18)

The Endy product.

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

Endy to be acquired by Sleep Country Canada for $89 million(BETAKIT)

The deal is comprised of $63.7 million in cash to be paid at closing, and up to $25 million in cash to be paid in early 2021 based on the achievement of certain growth and profitability targets in 2020.

La Caisse invests $200 million in Montreal’s Plusgrade(BETAKIT)

Caisse de dépôt et placement du Québec (la Caisse) is taking an equity interest totalling $200 million in Plusgrade, a provider of revenue solutions to the global travel industry.

Accenture opens Toronto innovation hub, plans to hire 800 Canadian tech workers(BETAKIT)

The new hub is designed to allow clients to work side-by-side with Accenture teams to ideate, prototype, and scale products and services.

BC’s Digital Technology Supercluster receiving up to $153 million(BETAKIT)

Over a ten-year period, the BC-born consortium wants to invest more than $1.4 billion to fund over 100 projects involving with over 1,000 organizations across Canada.

Startup Milestones

  • HYAS receives $2 million in venture debt from Silicon Valley Bank (Read here)

  • Ratehub acquires MoneySense (Read here)

  • Vendasta receives $3.3 million from Western Innovation Initiative (Read here)

  • Blue J Legal raises $9.3 million CAD to expand legal platform to the US (Read here)

  • Patriot One acquiring threat recognition software EhEye (Read here)

Must Reads

Canadian VC activity is down, but corporate investors are stepping up. Is that a good thing?(BETAKIT)

A new PwC MoneyTree report on Canadian investment shows that in Q3 2018, corporate participation made up 39 percent of all Canadian deals.

Ask an Investor: How can I create optionality after I get an acquisition offer?(BETAKIT)

No matter what stage your business is in, optionality is something you can be proactively driving towards before an acquisition comes your way.

Why did Canada send a delegation to Web Summit? (CanCon ep. 135)

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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.

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