For this company, raising money is as easy as Seed-A-B | The Sunday Briefing
SaaS business Dooly has raised more than $120M since September.
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Today’s Briefing is 1,795 words, a 6-minute read. Enjoy!
📰 Front Page
Dooly raises $96.5M Series B round
Two months following the announcement of its Series A, Dooly, a sales enablement platform, announced $96.5 million CAD in Series B funding, bringing the company’s total amount of funding to approximately $123 million CAD. Dooly says it’s using this new funding to scale faster with priority investment areas including talent and product, and evaluating use cases for expansion into additional departments.
COVID era digital engagement: 8 tips from Jelly Marketing, Traction on Demand and Rogers
Leaders at Jelly Marketing, Traction on Demand and Rogers shared insights for how to harness the web for customer engagement and community building during a pandemic. “Don't reinvent what you do because of the pandemic, or why you do it,” says Chris Peacock, CMO at Traction on Demand. “Reimagine how you do it.”
Opinion: Childcare is infrastructure
BC Tech CEO Jill Tipping argues that investments in childcare have the potential to unlock economic growth while increasing the diversity of the tech sector's talent pool. “The services economy is now the majority of our economy and we need to ensure we invest in the economic infrastructure to support it,” she writes.
Jessie Adcock to join Finning as VP of digital
Back in 2013, Jessie Adcock joined the City of Vancouver as its first-ever Chief Digital Officer, the first person to hold that title in the public sector in the country. Throughout her 8 years there, she led the city out of the digital dark ages to become a global exemplar and a model for other cities to follow in their digital transformation journeys. And now, she’s joining Finning International as Vice President of Digital, starting July 20. The move marks a return to her private sector roots.
StoryTap Technologies secures $2.3M seed round
StoryTap, a video storytelling platform has raised a $2.3 million USD seed funding round, led by Refinery Ventures and co-led by StandUp Ventures. The startup says it will use the funds to meet the growing demand for its video storytelling platform around the world.
BC privacy commissioner urging transparency for BC's $500M fund, InBC
BC Information and Privacy Commissioner Michael McEvoy is urging the provincial government to bring its proposed InBC Investment Corporation (InBC) under BC’s Freedom of Information and Protection of Privacy Act (FIPPA). The government has yet to decide whether InBC will be subject to FIPPA.
“There can be no doubt that, despite its investment independence from government—an independence shared by other public bodies covered by FIPPA—the public’s trust of InBC will depend upon its ongoing transparency and accountability,” wrote McEvoy in a letter to Minister Ravi Kahlon (Jobs, Economic Recovery and Innovation) and Minister Lisa Beare (Citizens’ Services).
⏩ Quick Takes
VTJ’s parent company Overstory Media Group (OMG) is in the news again—this time in TechCrunch. Read the full story: OMG is Canada’s startup answer to the local news crisis.
Launch Academy announced a $100,000 'Launch Your Startup' program to support 300 aspiring entrepreneurs impacted by COVID.
TELUS announced the launch of the TELUS Esports Series, a six-week-long multi-tiered gaming league for Canadians age 15 and up with more than $50,000 worth of gaming and wellness prizes to be won.
🏦 Banknotes: Financial news to know.
Marketing automation platform Unbounce announced an agreement to acquire Snazzy AI, an AI-powered copywriting tool. The acquisition signals the Vancouver SaaS company’s ambitions to move beyond landing pages and expand its product offerings as part of a conversion intelligence strategy to help small businesses. For the full story, read: ➝ Unbounce acquires Snazzy AI, an AI-powered copywriting tool
ChopValue Manufacturing Ltd., which designs and manufactures circular economy products made entirely of recycled chopsticks, announced that it has secured $3.15 million in new funding. “This latest round of investment demonstrates the demand for our circular economy products, and our shareholders’ belief in ChopValue’s vision to redefine the term ‘waste’ to ‘resource’,” according to Felix Böck, CEO and Founder of ChopValue. His company plans to use the capital to expand operations in Canada and the US and grow its international network of circular economy franchises. For the full story, read: ➝ Felix Böck's ChopValue raises $3M to expand global network
Freshlocal Solutions Inc., which recently went public on the TSX via RTO, announced that the company has entered into a new $15 million credit financing facility with Silicon Valley Bank (SVB). "These funds will assist us in advancing the development of our eGrocery Management Solution which enables the profitable provision of online grocery services at a time when the global grocery business is experiencing a rapid shift to on-line grocery,” said CEO Peter van Stolk in a statement.
Vancouver fintech Mogo Inc. has entered into an LOI to acquire 100% of Fortification Capital Inc. for a combination of cash and common shares. The acquisition is being made “to bring OEO (order execution only) registration capabilities [to Mogo] which is a necessary regulatory requirement for Mogo to offer stock trading to its members.”
LEAF Mobile, which recently acquired East Side Games Inc. in RTO, announced earnings of Q1 2021 revenue of $25.3M a 95% increase over $13.0M in Q1 2020. “We are off to an excellent start in 2021 with record Q1 results for LEAF, doubling quarterly revenue over the previous year and achieving $3.0M in Adjusted EBITDA from a $1.4M loss in the same period the previous year,” said CEO Darcy Taylor.
Anti-portfolios are the collection of companies venture capitalists passed on—their regrets. Recently, Version One Venture partner Boris Wertz regrettably added four tech giants to his: Applyboard, Clearco, ScaleAI and Wealthsimple. “We first published the Version One Ventures anti-portfolio in Dec 2019 - a lot has happened since and we successfully continued to grow that part of our track record 🤣🤣🤣,” he wrote on LinkedIn.
📝 604 Views: The sharpest ideas and insights.
Andrew Reid, CEO of Rival Technologies, shares how brands and market researchers can leverage trust in the post-pandemic world. “When consumers implicitly trust you — whether because of your privacy or security policies, your commitment to sustainability or the enduring quality of your products and services — they not only want to do more business with you. They also want to communicate with you, help you solve problems and make your brand stronger,” he writes.
Michael Stephenson, CEO and co-founder of addy, argues technology is giving power to the people when it comes to investing. “Access to real estate for many young people doesn’t need to feel like an impossible dream,” he writes.
👨💼 Personnel issues: People going places.
David Hogwarth joined local VC firm Rhino Ventures as a partner. Hogwarth was previously the executive director of innovation banking at CIBC Capital Markets.
Vancouver’s Canalyst announced today Birgit Troy has joined as Chief Operating and Financial Officer. “I’m excited to help make Canalyst the fundamental dataset of record for all capital market participants,” said Troy.
BroadbandTV Corp. CEO Shahrzad Rafati is featured in a MoneyWise list, 19 Female Founders Who Forged Successful Startups. The web magazine spotlights the companies clients including the National Basketball Association, Sony Pictures, A&E, Warner Brothers and Disney.
Fintech Amicus.io announced Mike Todd as Vice President of Sales, responsible for the company’s business development and sales in Canada. Todd was most recently at fellow Vancouver company Charitable Impact, a public foundation donor-advised fund (DAF) sponsor, where he was responsible for building the securities program for their donor-advised fund offerings.
Chain.io, a cloud-based supply chain integration platform with offices in Boston and Vancouver, announced Jean-Guy Faubert as chief operating officer. Prior to joining Chain.io, Faubert served as CEO and board director at TMI Holdings Inc., previously Tagga Mobile, where he scaled the company to an acquisition by Campaign Monitor.
😎 Pretty cool: Everything else new and novel.
PrecisionOS, the developer of a virtual reality learning platform for surgical education, launched an interactive robotics platform in VR. The VR surgical training is to be used through the portable Oculus Quest headset, making it more cost-effective for large teams. For the full story, read: ➝ In a first, PrecisionOS launches surgical robotics education platform in VR
Fintech firm Marble Financial Inc. launched a GIC Savings Loan with Jenson Graf Risk Management Inc, on its artificial intelligence-powered financial wellness SaaS platform, MyMarble. “Combining the MyMarble AI-driven financial technology software with the GIC Savings Loan enables the company to reach underserved Canadians with a proactive credit improvement solution,” said the company.
Vancouver’s Nextech AR announced it signed a letter of intent to acquire Threedy.ai, a tech company that converts 2D photos into quality 3D models through AI-enabled assembly. “With this merger & acquisition, Nextech and Threedy are here to bring AI technology to the forefront of the digital transformation economy and build the bridge between the 2D and 3D world of content creation,” posted Vivian Chan, Nextech’s global head of digital sales, on LinkedIn.
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🎧 Watch & Listen
Narrate Creative CEO Jordan Behan joined the Unleashed Podcast.
📅 Mark your calendar to match ours.
This Tuesday, May 25, 2021 | Vancouver Tech Morning Coffee, featuring Kris Hartvigsen, Co-Founder and CEO, Dooly.
June 8, 2021 | 2021 SMEs Economic Outlook, hosted by the Greater Vancouver Board of Trade, and featuring Pierre Cléroux, Vice President, Research and Chief Economist and BDC, Bridgitte Anderson, President and CEO, Greater Vancouver Board of Trade, among others.
🔥 Top stories, still trending.
⌛ That’s it. Until next week…
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