Bootstrapped to date, Field Effect closes $41 million CAD Series A to expand SME-focused cybersecurity business
Led by a former Communications Security Establishment researcher, Ottawa firm plans to invest in sales and marketing.
SaaS
S|W: The SaaS Weekly – Meta, Google quietly cut staff, Trulioo exits small biz
Plus: BDC commits half a billion dollars to invest in Canadian women-led startups and funds.
Infosys boosts Calgary hiring plans as it looks to double Canadian workforce to 8,000 employees
As Calgary office opens, Infosys commits to bringing 1,000 jobs to the city by 2024.
Trulioo to cut up to 10 percent of staff, exit small business market
Vancouver-based unicorn plans to focus on medium and large enterprises.
IMAX acquires video quality solutions startup Ssimwave in $28.3 million CAD deal
Disney, Paramount Global among mutual partners of Ssimwave, IMAX.
S|W: The SaaS Weekly – Adobe has $20 billion designs on Figma
Plus: Google to face $25 billion lawsuit.
Right-wing video site Rumble begins trading on Nasdaq via SPAC deal
The Toronto video-sharing platform attracts an audience of mostly right-leaning viewers.
Andgo Systems raises $5.6 million to make employee absence management easier
Andgo said it has added new major healthcare organizations as customers.
With backing from celebrity investors and mortgage lenders, Verifast wants to improve identity, financial verification
Verifast recently closed a $3.5 million seed round.
GrowerIQ closes $3 million seed round to help cannabis producers stay compliant
Cannabis ERP platform sees room to help growers meet “high” regulatory burden.
S|W: The SaaS Weekly – Meta cuts Responsible Innovation team as Instagram fined €405 million for mishandling teen data
Plus: Netflix Hunts for Cost Cuts, From Cloud Computing to Corporate Swag.
Bright secures $1.45 million from Atlantic Canadian investors to bolster its “wellness-at-work” platform
Bright was initially named Cribcut and provided at-office haircuts and beauty services.
D2L increases revenues as it tries to buck market downturn
Despite increases, CEO says growth slower than expected.
Network software startup Kaloom secures $27.4 million CAD from Québec government, Alternative Capital Group
Kaloom plans to expand in Japan, recently registering its business in the country.
Led by ex-Vidyard employees, HyperComply wants to get rid of security questionnaires
After closing $6.4 million USD in January, HyperComply launched a product to automate due diligence.