OpenText replaces longtime CEO Mark Barrenechea as it considers selling off “non-core assets”
James McGourlay takes over as interim CEO after company reports stalled revenue growth in its latest earnings.
AI
Pathway acquired by US telehealth firm Doximity for $63 million USD
Doximity now beta testing a product with Pathway’s AI-powered search technology and medical datasets.
TeamLinkt scores $8.3-million CAD Series A to expand sports administration platform across North America
Saskatchewan startup gives over 3,000 sports orgs and three million users an assist with league management.
Harvey to bring AI legal platform to Canada with new Toronto office
The US company also plans to build Toronto into “a core development engine.”
Canadian-founded Clay raises $100-million USD Series C led by Alphabet’s growth fund
Clay has grown its valuation sixfold in just over a year, from $500 million USD to $3.1 billion USD.
Cohere pitches security and productivity with general release of North enterprise AI platform
Co-founder Nick Frosst reiterates that return on investment is Cohere’s priority.
Shopify regains status as Canada’s most valuable company with strong Q2 earnings
Stock surges 20 percent as CFO claims no “meaningful changes” from tariffs.
LiORA secures $5.1 million in seed funding to scale its soil remediation platform in the United States
Remediation platform tracks and helps clean pollution in abandoned industrial sites.
Blue J raises $167.4-million CAD Series D after AI tax research platform more than doubles revenue
Funding to bolster Toronto startup’s team expansion, product development, and market reach.
AI is changing startup math
Plus: Trade war uncertainty has some Canadian startups “hanging by a thread.”
Canada’s tech heavyweights are planting flags in the UK
Shared values, deep talent, and government support are drawing firms like Cohere and OpenText across the pond.
Public safety tech platform Versaterm acquires Texas firm DroneSense for more than $100 million USD
Versaterm CEO says deal “moves us closer to a future where drones are as routine as any patrol or fire unit.”
Canada’s AI safety institute pledges $1 million to UK counterpart for research collaboration
Canadian AI godfather Yoshua Bengio joins advisory board of $29-million research initiative.
Yaletown Partners raises $100 million in first close for third Innovation Growth Fund
Vancouver VC firm is targeting a final close totalling $250 million within the next year.
AI bookkeeping startup Ceedar is turning customers into investors
Ceedar nabs angel cheques from Canadian founders looking for simplified accounting options.