Over the past week, five Canadian tech startups have been involved in acquisition deals, including Tulip, Intelex, ehsAI, SalesRight, and Robin. Here’s the latest on Canada’s movers and shakers.
Kitchener-Waterloo-based Tulip acquires Timekit
Tulip, a Kitchener-Waterloo-based startup developing retail mobile solutions, has acquired Timekit, which offers an advanced scheduling and resource management system. The purchase price of the deal was not disclosed.
“COVID-19 is forcing many retailers to accelerate their technology transformations to ensure they come out ahead.”
– Ali Asaria, Tulip
Under the terms of the acquisition, Timekit will continue to run its existing business operations. Timekit’s customers will also still be able to use the company’s scheduling solution, but now with Tulip’s enterprise-level service.
Tulip touts itself as a “platform built exclusively for stores of the future.” Founded in 2013, the startup’s omnichannel mobile apps serve retail clients like Saks Fifth Avenue, Kate Spade, Coach, and Michael Kors.
“COVID-19 is forcing many retailers to accelerate their technology transformations to ensure they come out ahead,” said Ali Asaria, founder and CEO at Tulip. “That’s why we at Tulip are investing and expanding our omnichannel solutions to help brands navigate this new reality and remain profitable.”
This week, Tulip also announced funding from BDC Capital’s Bridge Financing program, however the amount was not disclosed. Through the Bridge Financing program, BDC Capital matches (through a convertible note) a financing round being raised through qualified investors. Tulip also did not indicate the size of its overall round that BDC participated in. Tulip will put the new capital into research and development, sales, and its expansion into global markets.
Toronto-based Intelex Acquires acquires ehsAI
Toronto-based Intelex Technologies, which provides SaaS-based environmental, health, safety, and quality management software, has acquired Vancouver-based ehsAI, a compliance automation technology startup. The purchase price of the deal was not disclosed.
ehsAI will operate as an independent business unit of Intelex and will remain agnostic in its ability to work with any EHS software or energy management information system, meaning it will not just be available to Intelex customers.
In 2019, Intelex was acquired for $570 million USD by Industrial Scientific, a connected sensing technology company that creates software for worker safety. Intelex still operates as a standalone company under the umbrella of Industrial Scientific.
ehsAI is an AI-powered tech startup with a mission to transform the way organizations use these technologies to manage environmental, health, and safety regulatory compliance. The company has created a tool that converts regulations and permits to compliance action items.
Halifax-based SalesRight acquired by FastSpring
Halifax-based SalesRight, a cloud-based platform that aims to help B2B sales teams to create custom interactive pricing guides, has been acquired by Santa Barbara, Calif.-based FastSpring. The financial terms of the deal were not disclosed.
SalesRight offers a quote delivery software that streamlines sales processes for SaaS teams.
According to Entrevestor, the teams from FastSpring and SalesRight will merge, however, SalesRight still plans to grow its team. FastSpring said the SalesRight deal allows the US company to expand its capabilities with a unified e-commerce solution for B2C and B2B software businesses.
SalesRight was founded in 2018 by CEO Bill Wilson and co-founders Taylor Bond, and Greg Toner, to streamline B2B SaaS pricing, give prospects more transparency, and provide real-time analytics to allow businesses to save time and close more deals.
SalesRight has developed an interactive quote delivery software that streamlines sales processes for SaaS teams. The software is built to support the development and delivery of multiple SaaS pricing models while providing real-time analytics on deal status.
UPDATE 09/12/20 The acquisition of Salesright has led to a positive outcome for the Upside Foundation, which Bond pledged with earlier in 2020. The deal marks the eighth exit for an Upside member. Bond’s proceeds will be donated to Eva’s Initiatives for Homeless Youth.
Thuzio acquires Toronto-based Robin
Toronto-based Robin, which offers a corporate entertainment platform for premium tickets and experiences, has been acquired by New York-based event company Thuzio. The financial terms of the acquisition were not disclosed.
Thuzio said Robin’s expertise and product will allow it to scale in three areas: acquisition and sales, user experience, and data, as Robin has advanced engagement and revenue tracking and sponsor targeting, along with a diversified event offering.
Founded in 2016 and an alumnus of Techstars, Robin allows users to book corporate entertainment and premium experiences for live events. The startup boasts a large selection and hands-on support.
The events industry has faced a harsh impact from the COVID-19 pandemic. In the Canadian tech sector, major industry conferences and festivals, such as Collision, Elevate, True North, and Startupfest all either adopted a virtual model or postponed their 2020 events to next year.
“Integrating our technology into Thuzio’s ecosystem of exceptional content, events and virtual experiences will allow us to build the market-leading platform for corporate entertainment and drive growth across North America,” said Adam McIsaac, co-founder and CEO of Robin.
Image source SalesRight via Twitter.