CCI launches Balsillie-backed innovation policy institute Canadian SHIELD
The Council of Canadian Innovators (CCI) is launching a think tank focused on advancing innovation policy and promoting economic nationalism. The Canadian SHIELD (Securing Homegrown Innovation, Economic Leadership, and Defence) Institute is opening with a $10-million CAD donation from Jim Balsillie, CCI co-founder and chair and former BlackBerry co-CEO. The policy institute will focus on […]
Vasco raises $11.5 million CAD to help startups manage revenue trajectory with AI
Montréal-based Vasco has secured $8 million USD ($11.5 million CAD) in seed funding to help startups commercialize through its artificial intelligence (AI)-powered revenue operations (RevOps) platform. “One of the top reasons why great innovation doesn’t make it to the world is because [it] fails in commercialization.” Guillaume JacquetVasco Vasco’s revenue management platform aims to solve […]
Intuit Canada is hiring key tech roles
Canada has quietly become a powerhouse for Intuit’s most ambitious technology projects. From its Toronto base, Intuit’s workforce is tackling some of the company’s thorniest problems in personal finance and small business management, working on its marquee products like TurboTax, Credit Karma, QuickBooks, and Mailchimp. “Where can you impact 50 million people with the work […]
Former Plooto CEO Hamed Abbasi on trial for alleged sexual assault
Hamed Abbasi, the co-founder and former CEO of Toronto-based payments scaleup Plooto, is facing charges of sexual assault, BetaKit has learned. According to court documents obtained by BetaKit, the alleged assault took place in Toronto in Nov. 2023. Abbasi was arrested and charged days later with one count of sexual assault contrary to s. 271 […]
League hits user milestone and secures $100-million USD credit facility from RBCx
Toronto-based healthcare platform League has secured a $100-million USD ($144-million CAD) credit facility from RBCx as it celebrates achieving 40 million users under contract. League struck a partnership with Australia’s largest private health insurer this past October. League said in a statement that the customer milestone represents a 160 percent increase year-over-year, and claimed the […]
Innovation Minister François-Philippe Champagne will not seek Liberal leadership
Canada’s Minister of Innovation, Science and Industry François-Philippe Champagne announced today that he will not seek the Prime Minister’s office. “You don’t take lightly the opportunity to lead a country like Canada.” François-Philippe Champagne With the Liberal leadership contest taking shape, eyes were on Champagne to confirm his intentions during a fireside chat with Taking […]
Tailscale hits 10,000 paid business clients after doubling customer base in 10 months
It took Toronto-based corporate virtual private network (VPN) startup Tailscale over four years to reach 5,000 paid business customers, a milestone it achieved in March 2024. Ten months later, Tailscale has more than doubled its corporate client base. The software unicorn recently hit 10,000 paid business customers—ranging from small firms to Fortune 500 companies—and not […]
Uvaro acquires coding school Lighthouse Labs to take on AI-augmented job market
Kitchener-Waterloo, Ont.-based workforce training platform Uvaro has acquired coding school Lighthouse Labs for an undisclosed amount. Uvaro said in a statement that the acquisition is a strategic move that aligns with wider job market trends, pointing to the Government of Canada’s launch of AI-focused programming and investments in a digitally skilled workforce. Founded in 2013, […]
Ritual CEO, R&D team members to join Shopify
Ritual CEO Ray Reddy announced this morning that the Toronto-based food ordering app’s key talent is ready for pickup by Shopify. Co-founders Reddy and Larry Stinson, alongside members of Ritual’s research and development (R&D) team, are leaving to join the e-commerce giant. Reddy will be Shopify’s new vice president of retail, The Globe & Mail […]
Float raises $70-million Series B CAD led by Goldman Sachs
Toronto-based corporate card and expense management technology startup Float has secured a $70-million CAD Series B round to increase its footprint in Canada. The round was led by the growth equity arm of Goldman Sachs with participation from OMERS Ventures, FJ Labs, Teralys, and return investor Garage Capital. The Globe and Mail reported the round […]