Alberta Innovates is the second provincial innovation agency affected by cyberattack this year
Provincial Crown corporation Alberta Innovates experienced network issues following a cybersecurity incident earlier this month. “As our investigation unfolds, we’ll know more.” Dwayne BrunnerAlberta Innovates As first reported by The Canadian Press, Alberta Innovates spokesperson Dwayne Brunner told BetaKit in an email statement that the network issues were quickly resolved and are being investigated with […]
Lightstrike raises $1.1 million CAD pre-seed round to commercialize AI-powered code mapper
Calgary-based Lightstrike, which provides an artificial intelligence (AI)-powered tool to map the connections between enterprise applications, has raised $1.1 million CAD in pre-seed funding as it looks to expand its North American presence. The all-equity round closed on Halloween and was led by Edmonton-based Sprout Fund with participation from Connecticut-based The Binnacle Group, Weave VC, […]
TechTO acquires Peerscale to broaden support for later-stage tech entrepreneurs
Toronto-based tech community engagement organization TechTO has acquired Toronto-based network Peerscale as it looks to broaden its programming to later-stage entrepreneurs. TechTO’s recently minted CEO Marie Chevrier Schwartz declined to disclose the value of the deal, which closed last week, but told BetaKit the acquisition includes Peerscale’s team, members, and programming. The brand will continue […]
Five startups chosen for first round of Québec Tech’s export mission
The first group of Québec companies selected as high-potential exports to participate in Québec Tech’s growth and scale-up program were unveiled today. Five companies were chosen for the first edition of Stage V, a tailored support program focused on boosting go-to-market efforts outside of Québec: industrial biotech company BioIntelligence Technologies, hardtech sports equipment company Ferreol […]
Insurance giant Intact scoops up home maintenance startup Jiffy
Canadian insurance giant Intact Financial Corporation has acquired Toronto-based home maintenance software startup Jiffy for an undisclosed amount. According to a statement issued by Intact, the deal, which closed Oct. 1, is aimed at expanding Jiiffy’s service to more Canadian jurisdictions. Intact claimed that Jiffy’s pros have maintained a median response time of less than […]
Women VCs are now earning more at the highest levels (if they can reach them)
The compensation picture for women in VC may be reaching a tipping point in Canada—at least at the highest levels. For the first time, women’s average salary in senior investment roles was higher than that of men, according to the 2024 Canadian Venture Compensation Report. The average minimum compensation for four roles—senior associate, vice president, […]
Sonaro, Celestra, Oasis Learning AI among competition winners at SAAS NORTH 2024
SAAS NORTH wrapped its eighth year in Ottawa last week, and as in years past, the 2024 conference showcased a lineup packed with prize money for Canadian software startups. This year, the conference gathered thousands of members of Canada’s software-as-a-service (SaaS) ecosystem for two days of keynotes, panels, and networking in Ottawa’s Shaw Centre. Headliners […]
Federal government reinvests in Scale-Up Platform with $47.5 million commitment to Invest Ottawa, MaRS, and Communitech
The federal government is renewing support for its Scale-Up Platform program with a commitment of $47.5 million announced earlier this month. All three innovation hubs responsible for the Scale-Up Platform saw leadership changes this year. The funding will be dispersed across the three regional innovation hubs responsible for the program; Communitech, MaRS Discovery District, and […]
CIFAR leader expects CAISI to help inform AI policy in Canada and abroad
Artificial intelligence (AI) leaders believe that Canada’s new AI safety institute could help strengthen AI policy, adoption, and the country’s role on the global stage. Elissa Strome, executive director of the Pan-Canadian AI Strategy at the Canadian Institute for Advanced Research (CIFAR), said she sees room for the Canadian Artificial Intelligence Safety Institute (CAISI) to […]
One chart that will make you feel good about Canadian tech
The above chart lists a selection of Canadian tech companies that have secured financing rounds of $100 million or more since 2005. That time period represents approximately $48 billion invested across more than 3,000 deals. BetaKit deals in data daily, and it’s necessary to harden oneself lest you become buffeted by the highs and lows. […]