This past week, startups all across Canada got a boost with rounds of funding. Here’s the latest on who raised how much, and from whom.
The Money Finder raises $1.75 million
Innovacorp invested $250,000 in the company in September, while Build Ventures invested $1.5 million on Tuesday.
Money Finder’s platform is aimed at providing financial professionals with cash flow planning training programs, and promises that financial professionals will be able to help clients with having a proper cash flow going into retirement. With the funding, Money Finder plans to use the funding to expand its 16-person team with developers dedicated to building out its enterprise solution.
“The cost of bootstrapping when you’re not a technical CEO is enormous…this investment will allow us to hire senior technical people in the region, and to foster the junior people,” founder and CEO Stephanie Holmes-Winton told Entrevestor.
Integrate.ai raises $5 million seed round
Toronto-based Integrate.ai, a platform meant to help large enterprises adopt AI-first solutions, has raised a $5 million Series A from Georgian Partners.
“Integrate.ai will bridge the gap between AI and the C-Suite to help the world’s fastest growing companies tap into the power of AI to solve complex business challenges,” said Steve Irvine, founder and CEO of Integrate.ai. “To drive customer engagement in today’s world requires access to data and insight that spans both the consumer and enterprise platforms. Bringing those two worlds together in a secure, privacy-preserving way to train new AI-based solutions is a very big and exciting problem to work on.”
The company was founded in January 2017 by former Facebook executive Steve Irvine. Integrate.ai plans to aggressively expand its research and development capabilities in Toronto, leveraging the city’s pool of artificial intelligence (AI) and software engineering talent.
“I strongly believe that Canada is the best place to build an AI-first business, and this funding will enable us to quickly hire the world-class AI talent on which our business will be built, right
here in Toronto,” said Irvine.
Justin LaFayette, managing partner and co-founder of Georgian Partners will join the Integrate.ai board of directors.
“This is a rare opportunity to be part of something that is very large and closely aligned with our applied artificial intelligence investment thesis,” said Justin LaFayette, managing partner at Georgian Partners. “Steve has a unique set of skills and experience that, along with the rich pool of AI talent available in Toronto, will enable Integrate.ai to scale quickly.”
Leankor raises $1 million
Calgary-based Leankor, a visual workflow and project management solution company, announced $1 million in funding.
Leankor’s platform — which includes customers like Google and Capital One — allows companies to view a team’s workflow, encourage collaboration in different teams, and view real-time analytics on data generated from the Salesforce-native platform’s use.
“We set out to raise a small amount and ended up being 100 percent oversubscribed on the round,” said Emilio Bernabei, founder and CEO of Leankor.
CSDC Systems raises $30 million
Toronto-based CSDC Systems, a software supplier for local, state, and federal governments, has raised $30 million from Texas-based BuildGroup, a firm made up of entrepreneurs investing in high-growth tech companies.
CSDC works to bring the advantages of the cloud to government agencies, and automates the business processes of government agencies at all levels. “Governments are increasingly looking for modern technology solutions that can automate their business processes, increasing the efficiency of their work to save time and money. Also, they want to consolidate this functionality on a single platform if possible,” said Dan Mishra, founder of CSDC.
The company plans to use the funding to support customer growth, product expansion, support services and market leadership. BuildGroup will provide the company with long-term strategic direction.
“We see a compelling opportunity to use modern cloud technology to radically change how governments are run, and believe that CSDC is in a position to lead this shift long term,” said Lanham Napier, BuildGroup co-founder and former CEO of Rackspace. Rackspace went public in 2008.
“We’re excited to help CSDC realize this vision, bringing the strong operational background of our partners to increase growth and profits. With CSDC’s established experience and innovation within the market, we believe the company can lead the needed technological transformation to modernize governments.”