B2B companies performed well in this round of funding. Here’s the latest on who raised how much whom.
Fresche Legacy secures $7.8 million investment
Fresche Legacy, a legacy management company that helps modernize businesses, has secured a $7.8 million investment from the Fonds de solidarité FTQ and the regional Fonds de solidarité FTQ Montréal.
Fresche Legacy works by helping companies manage and enhance their IBM i application environments. “FSTQ’s investment will allow us continue our aggressive growth,” said Andy Kulakowski, president and CEO of Fresche Legacy. “Legacy technology is pervasive within the IBM i market and contains invaluable data and business processes. However, legacy systems are also difficult to maintain, hard to integrate with newer technology and don’t easily adapt to evolving business realities. Fresche’s next generation of modernization tools eases the modernization process, and provides IT organizations with the essential tools to maintain, enhance and evolve their IBM i applications for years to come.”
The company said that it will use the funding to intensify its efforts in the IBM i market. “Fresche has completed three acquisitions in four years, and we see tremendous potential in further consolidating the market for modernization solutions,” said Nick Cristiano, chief financial officer of Fresche Legacy.
Worximity raises $2 million seed round
Montreal-based Worximity, an IoT company that helps digitize manufacturing production, raised a $2 million seed round.
The funding will be used to increase Worximity’s computer development team as well as expand to the US. “The digital shift, which a number of industry leaders have already embraced, will undoubtedly become more pronounced with the rise of the Industrial Internet of Things,” CEO Yannick Desmarais told Montreal in Technology. “In the coming years, all manufacturers will be monitoring their operations in real time from anywhere in the world. This investment will allow us to maintain our position as a leader in this field and to better meet the growing demand.”
Allocadia raises $22 million series B
Allocadia announced a $22 million series B in a round led by Susquehanna Growth Equity. With participation from existing investors like iNovia Capital, Altos Ventures, Beehive Holdings, Illuminate Ventures, Don Mattrick, and Norm Francis of Boardwalk Ventures, the company will use the funding to accelerate the innovation of its product and expand the team.
“We’re truly excited by what this additional funding means for our customers, partners, and team,” said Kristine Steuart, CEO and co-founder of Vancouver-based Allocadia. “We have amazing customers who know that to succeed in today’s competitive market, they need a radically better way to plan, budget and optimize their marketing investments. This funding furthers our ability to help our customers make every marketing dollar count and drive real business impact.”
Wiivv raises $3.5 million seed round
As Wiivv prepares for market entry, the bionics company has raised a $3.5 million seed round, which was led by Eclipse VC, Real Ventures, Asimov Ventures, Evonik Industries, and MAS Holdings. Read more about it on BetaKit.