$100M To Boast About | The Sunday Briefing

"We're getting companies larger refunds, faster, [and] at a lower audit grip from the government." - Boast.ai co-founder Lloyed Lobo

Good afternoon, and welcome to the hundreds of new Vancouver Tech Journal subscribers reading this week. Today’s Sunday Briefing is just around 1,700 words, a 6-minute read. Enjoy.

-William (@notionport)

💰 Boast.ai, a financing platform that makes it easier for companies to access R&D tax credits, announced a $100 million credit facility from Brevet Capital.

Boast.ai helps businesses receive hundreds of thousands of dollars in R&D tax credits from the government using AI and an in-house team of experts. Boast’s co-founder Lloyed Lobo explains the problem his company solves like this:

Each year the US and Canadian governments provide more than $15 Billion in R&D Tax Credits to fund businesses, but the application process is cumbersome, prone to frustrating audits, and receiving the money can take up to 16 months as you need to wait for tax filing season and government processing times.

Now, instead of waiting a year to receive the R&D tax credit refunds from the government, this new credit facility will enable Boast’s clients to not just work with the firm to prepare their tax credit claims but also get advanced funding on a monthly basis throughout the year to fuel their growth.

💬 13 thoughts about Shopify’s operations, Scotiabank’s Vancouver investing plans, supercluster funding and more.

Last week, Vancouver Tech Journal introduced a new column, 13 thoughts, as a platform to share interesting stories and bits of information that don’t warrant their own full article but deserve more than a tweet. Gossip, inside baseball, babble… call it what want, but don’t pretend you’re not interested.

⏩ Quick Takes

📈 Pulse check: The health and biotech news keeping hearts racing.

  • Vancouver’s Acuitas Therapeutics has just 30 employees and operates in a building without any signage. And yet, as The Washington Post reports, the global spotlight is now on one of Acuitas’ discoveries: “A proprietary molecule called an ionizable cationic lipid is a crucial piece of the mRNA vaccine made by Pfizer and its German partner BioNTech, and it is in urgent demand for production of billions of vaccine doses worldwide.”

  • Telehealth company CloudMD announced plans to acquire VisionPros, a digital eyewear platform. “This is a significant acquisition for our business, which not only adds meaningful high margin revenue, but also provides us with an established e-commerce platform and almost 1 million customer accounts,” said Dr. Essam Hamza, CEO of CloudMD.

  • Canada is home to significant scientific expertise and research tackling COVID-19, but one expert says long-standing hurdles make it difficult for the country to punch above its weight. UBC’s Dr. Srinivas Murthy, who also co-chairs the WHO’s COVID-19 clinical characterization and management committee, believes Canada needs greater integration between health care and research.

🏦 Banknotes: Financial news to know.

📝 Views from the 604: The week’s sharpest ideas and opinions.

“I’ve always viewed Black History Month as an opportunity for me to reflect on and celebrate my heritage,” writes Future Capital CEO Marlon Thompson.

👩🏻‍💼 Personnel issues: People going places.

  • ThoughtExchange, the fast-growing enterprise crowdsourcing software company, announced Lauren Kelly (ex- Dell and Pepsico) as their new chief marketing officer. Last year, the company closed a $34M round Series B.

  • “Everything an organization needs to know about their people, we touch it,” says Visier CEO Ryan Wong. “Whether it’s recruiting, whether it’s performance management—in short, the whole life cycle of an employee in that organization—Visier will provide you that insight.” The Vancouver company is a pioneer in the workforce analytics niche.

  • HR Tech Group announced the launch of Tech Talent North, a national people and culture conference taking place May 12 - 13, 2021.

💼 Pole positions: Tech jobs that matter.

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📁 Need tech news briefings delivered daily?

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💚 Cleantech: Good news for the planet.

😎 Pretty cool: What else is new and novel.

📅 Mark your calendar to match ours.

This Tuesday (February 23), on Vancouver Tech Morning Coffee, our weekly Clubhouse show, we welcome special guest Lloyed Lobo, co-founder and president of Boast.ai, which, as noted above, recently announced $100M in financing.

Twitter avatar for @vantechjournalVancouver Tech Journal @vantechjournal
Boast.ai on Vancouver Tech Morning Coffee” with @notionport, @raywalia, @pamelaSsaunders, @TTT_Studios, @casey_lau, and @lloyedlobo. Tuesday, Feb 23 at 10:00 AM PST on @joinClubhouse. Join us! joinclubhouse.com/event/M6Y6zD6X Image

Deloitte Global TMT Predictions 2021: Later on February 23, VEF invite you to join them and Deloitte’s Duncan Stewart, co-author of the Deloitte Global TMT Predictions annual report, as he provides an in-depth look at the trends set to affect and disrupt your business.

‼️ Double take: In case you missed these stories.

⌛ That’s it. Until next week…

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