Canadian startup news of the week (8/15/21)

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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

FreshBooks secures $163 million CAD and unicorn valuation to increase global reach(BETAKIT)

FreshBooks’ efforts to expand its international presence are led by Don Epperson, who took over as CEO at the beginning of this year, but predate his appointment.

Lightspeed aims to raise $716 million USD through public offering(BETAKIT)

In the first quarter, Lightspeed saw strong revenue growth amid pandemic reopenings, posting total revenues of $115.9 million USD.

Dave Wessinger takes over as PointClickCare CEO as brother and co-founder Mike becomes executive chair(BETAKIT)

The change in leadership follows a strategic minority investment secured at the start of 2020.

Portage Ventures secures additional $210 million USD for third FinTech fund(BETAKIT)

Portage FinTech Acquisition previously completed its initial public offering on the Nasdaq in July, securing $240 million USD.

Climate change is a strategic issue for businesses, says Manifest Climate CEO(BETAKIT)

As BetaKit’s editor-in-chief, Douglas Soltys put it during a recent panel, “what good is a fresh round of funding when the world is on fire?”

Latest Funding, Acquisitions, and Layoffs

  • VIC – WeCommerce to acquire Archetype Themes (read more)

  • VAN – Quantum Pigeon – $7.54M (read more)

  • VAN – Medimap – $3.5M (read more)

  • VAN – Fable – $3.4M (read more)

  • KEL – CoreHealth Technologies acquired by Carebook (read more)

  • KEL – RainStick Shower – $1M (read more)

  • CAL – Fluid Biotech – $5.6M (read more)

  • TOR – Converge acquires majority stake in REDNET AG (read more)

  • TOR – Blue J – $11.3M (read more)

  • TOR – Branch Energy – $5.6M (read more)

  • TOR – Mero Technologies – $3.1M (read more)

  • TOR – Mednow acquires Medvisit (read more)

  • OTT – Telesat secures $1.44B from Government of Canada (read more)

  • OTT – Canada commits $59M to 30 businesses through Black Entrepreneurship Program (read more)

  • OTT – SDTC invests $19.1M CAD into six Canadian cleantech companies (read more)

  • MTL – Dataperformers acquired by Deloitte Canada (read more)

  • MTL – ORO Health – $3M (read more)

  • QC – XpertSea – $25M (read more)

  • HAL – Tranquility Online acquired by Green Shield Canada (read more)


How tech can promote a collaborative, patient-centric approach in healthcare(BETAKIT)

“Innovation is not just about technology. It’s the mechanism by which you organize and sequence how you actually deliver healthcare, and how to actually understand the patient-doctor relationship.”

In an interview with BetaKit, Saleema Khimji, the Chief Innovation Officer at MCI Onehealth, shared how the current siloed ecosystem of researchers, governments, and private sector companies can fail patients – and why a new patient-centric model based on collaboration needs technology to thrive.


“Canada is three telecom companies in a trenchcoat.” There’s also a looming Canadian election, throwing all policy decisions and progress up in the air.


“There’s no bigger board meeting than you staring in the face of death in the hospital. Death has all the leverage.”

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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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