C100 taps former MaRS exec Ray Newal as its new CEO
Ray Newal, who has led firms in Canada and India, will spearhead C100’s international expansion efforts.
Canadian Startup News
With a new team, Framework Venture Partners secures $100 million USD first close for second fund
Barbara Dirks, Jim Texier, Mike Dobbins join for Fund II, target $250M final close.
Properly secures $36 million CAD, pulls back on geographic expansion plans as Canadian housing market cools
Provincial expansions across BC, Ontario, and Québec have been pinned in favour of focus on Toronto and Vancouver.
D2C startups not immune to downturn as Article, Mejuri make staff cuts
Article and Mejuri have cut their workforces by 17 and 10 percent, respectively.
Uberflip CEO attributes company layoffs to “unsteady economy”
Uberflip laid off 31 employees.
Scale Without Borders wants to bring Canada’s immigrant tech community together in November summit
Last year’s summit spanned three days and saw 1,000 registrants.
RenoRun lays off 12 percent of staff, pauses geographic expansion amid uncertainty surrounding consumer spending
CEO: “There’s just a level of uncertainty right across the board.”
Lightspeed’s revenues increase even as its losses widen in fiscal first quarter for 2023
Lightspeed’s results were better than expected.
Nubik becomes latest Canadian tech firm acquired by Deloitte
Nubik specializes in Salesforce, FinancialForce, and Rootstock Cloud ERP.
Kirk Simpson, Peter Carrescia team up to raise $6.5 million CAD with an idea to disrupt the digital identity space
OMERS, Wittington, and Round13 have all backed Qui Identity.
Sandpiper Ventures closes $20 million first fund focused on early-stage, women-led tech startups
Sandpiper sees “huge … and untapped opportunity” to back more women entrepreneurs amid market downturn.
Unbounce lays off 20 percent of staff as part of “larger company restructuring”
Unbounce CEO said cuts were necessary to support the company’s purpose and strategy.
FreshBooks secures $100 million USD debt facility from BMO, J.P. Morgan
With fresh funds, FreshBooks wants to continue global expansion, strategic acquisitions.
CFIN invests $338,000 into four Canadian projects related to food sector
Projects in this cohort range from an automated tempeh incubator to upcycling produce.
ZayZoon raises $25.5 million to expand its earned wage access business across the US
ZayZoon’s earned wage access model never caught on in Canada, but took off south of the border.