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
Inovia, Shopify back delivery startup Swyft in $22 million Series A round(BETAKIT)
With a delivery marketplace currently operating in Toronto, Swyft is set for a major geographic expansion over the next 12 months.
As virtual operations break down geographic barriers, Techstars Toronto doubles down on international startups in 2021 cohort(BETAKIT)
Of the 10 companies joining the 2021 cohort, eight were founded outside of Canada.
Chris Albinson to replace Iain Klugman as CEO of Communitech(BETAKIT)
His selection comes after what Communitech called a comprehensive search led by the organization’s board, as well as an executive recruitment firm.
TEC Edmonton to cease operations on June 30(BETAKIT)
In its recent email to partners, TEC Edmonton said the news of its closure may “significantly impact” companies working out of TEC’s physical space.
Diagram Ventures latest Canadian firm to concentrate on existing portfolio with $60 million for new Opportunity Fund(BETAKIT)
With two funds already under its belt, Diagram is calling its third an Opportunity Fund, shifting the Montréal firm’s focus from venture building to “accelerating the traction of Diagram portfolio companies.”
With Fortune 500 clients, revenue growth, Tasktop raises $126 million CAD in growth equity(BETAKIT)
The raise comes after years of scaling, which has led Tasktop to amass an impressive roster of Fortune 500 clients, revenue growth, and a team nearing 200 people. One of the investors, Sumeru Equity Partners, also contributed to Loopio’s latest raise.
Latest Funding, Acquisitions, and Layoffs
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TOR – Loopio – $252M (read more)
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CAL – Deloitte Canada acquires Groundswell Group (read more)
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TOR – Playmaker Capital – $24M (read more)
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TOR – Swyft – $22M (read more)
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VAN – Dapper Labs – $305M (read more)
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TOR – Payfare – $9.8M (read more)
RECOMMENDED BY CISCO
PEEKAPAK, CISCO, AND THE C100 SHARE ADVICE FOR CANADIAN TECH LEADERS WHO “LEAVE IT ALL ON THE FIELD”
In a recent BetaKit Live with Cisco Designed for Small Business, Laura Buhler, CEO of the C100; Ami Shah, CEO and co-founder of Peekapak; and Erin Hipp, Meraki Country Leader at Cisco Canada, spoke about how they lead their teams and companies through change.
HOW FLINKS PLANS TO BEAT PLAID ON ITS OWN TURF(BETAKIT)
Montreal-based Flinks is preparing to truly take on Plaid in the US market. Flinks raised a $16.2 million CAD round last year to do just that.
FROM PIVOT TO IPO WITH CANADA’S PIZZA KING(BETAKIT)
General Assembly Pizza CEO and founder Ali Khan Lalani joins to describe his company’s remarkable journey from pizza to Pizza-as-a-Service across North America.
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