Canadian startup news of the week (5/02/21)

Shopify

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


Legaltech startup Clio Canada's latest unicorn following $136 million CAD Series E round

Clio previously secured a $330 million CAD ($250 million USD) Series D round in September 2019 from US-based investors TCV and JMI Equity.


Sonder to go public on NASDAQ through SPAC deal

Sonder has raised more than $560 million to date, with its Series E round in 2020 giving the company a $1.3 billion valuation.


Vena raises $300 million from Vista Equity Partners

The Series C financing follows $25 million USD in growth capital financing Vena secured in September from CIBC Innovation Banking.


Thinkific closes TSX IPO, raising $160 million

CEO Greg Smith told BetaKit that he sees a “huge opportunity” in scaling to meet the growing needs of entrepreneurs and the online course creator economy.


Shopify sees 110 percent year-over-year revenue growth as e-commerce continues to boom amid pandemic

Global economic activity from merchants on Shopify reached $307 billion in 2020.


Newton had an outage and now users are complaining their transactions are pending

Newton wrote in a blog post it had temporarily paused trading and crypto withdrawals while it addressed an outage with its custodian related to a cyberattack.


Alberta's innovation minister wants province to be a "dominant player" in Canadian tech

Following recent provincial budgets, Alberta and BC innovation ministers talk Western Canadian tech and investment strategies.


Latest Funding, Acquisitions, and Layoffs


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WHY WON’T THE ONTARIO GOVERNMENT HELP BOOKJANE VACCINATE THE PROVINCE?

If BookJane can help an overburdened region like Peel get citizens vaccinated and maximize healthcare resources, why isn’t the platform being rolled out across the province? The answer isn’t good.


MATTHEW LOMBARDI EXPLAINS THE NEW ONEELEVEN’S NEW FOCUS

Lombardi goes into detail on OneEleven’s new focus on talent upskilling of the startups within its portfolio, and how Venture For Canada plays a role.


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Josh Scott

Josh Scott

Josh Scott is a BetaKit staff writer who loves to tell Canadian business and tech stories. His coverage is more complete than his moustache.