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MaRS CEO lays out reset business model as innovation hub makes more cuts

As its new CEO continues to overhaul MaRS Discovery District’s operations, the Toronto-based innovation hub has made additional layoffs and revamped its advisory model. After laying off 20 staff members in June 2024, predominantly at the leadership level, MaRS told BetaKit it had cut a further 11 people from its team, while moving eight of […]

BlueCat Networks to acquire San Francisco-based LiveAction from Insight Partners

Toronto-based network management firm BlueCat Networks has entered an agreement to acquire San Francisco-based LiveAction for an undisclosed amount.  BlueCat is acquiring LiveAction from New York-based private equity (PE) firm Insight Partners, which will remain a minority investor in the combined company. BetaKit has reached out to BlueCat for more details on the acquisition agreement. […]

Addressing the 600-pound beaver in the room

Shopify’s Harley Finkelstein kicked the hornet’s nest at Elevate’s opening night when he called for “injecting more ambition into the Canadian psyche.” The president of Canada’s largest tech company noted that our collective unwillingness to go for gold is “the 600-pound beaver in the room.” That bon mot quickly became a straw man for many […]

CalendarHero team returns with $1.1 million to help AI SaaS companies launch API integrations through Unified.to

Repeat Canadian technology entrepreneurs Roy Pereira and Alexey Adamsky have teamed up with former colleagues to help software-as-a-service (SaaS) companies launch new application programming interface (API) integrations with Unified.to. The Toronto startup has closed $1.1 million CAD in pre-seed funding to make it easier for SaaS clients—especially ones developing artificial intelligence (AI) solutions—to access the […]

Elevate FinTech speakers tout need for customer-centric innovations

At Elevate’s FinTech stage, programmed by BetaKit as part of the broader tech and innovation festival, FinTech leaders came together to challenge traditional banking, air frustrations with its current limitations, and discuss moving into a more customer-centric financial services model.  “Traditional banking just doesn’t meet the expectations of what people have in today’s environment,” said […]

Can Wealthsimple build Canada’s largest financial institution?

Building a company is no easy business. It takes persistence, luck, and more than a little bit of insanity. Which is why it’s meaningful when any company reaches a 10-year milestone—and doubly so for startups given that the majority fold long before then. So I’m pretty excited to have Wealthsimple co-founders Brett Huneycutt (CPO) and […]

NACO launches fellowship program with national innovation orgs

The National Angel Capital Organization (NACO) has rolled out a new initiative backed by the Government of Canada geared towards helping entrepreneurs across Canada strengthen their networks. The six-month program, which was announced at Toronto tech conference Elevate Festival on Oct. 3, matches Canadian founders with mentors that are relevant to their business and sector, […]

Ex-PathFactory CEO’s Sparrow BioAcoustics closes $10 million to turn smartphones into stethoscopes

St. John’s, NL-based healthtech and software startup Sparrow BioAcoustics has closed $10 million in seed financing following recent regulatory approvals for its heart monitoring software. According to a statement from Sparrow, the round was led by Atlantic Canada private equity firm Killick Capital, Klister Credit, and Newfoundland and Labrador-based venture firm Pelorus Ventures. “The team […]

Nunafab, SnapWrite, Aruna Revolution among startups to score prize money at Elevate

Elevate Festival 2024 closed out its third and final day in Toronto yesterday with seven Canadian tech startups earning a share of this year’s prize money. Since its launch in 2017, Elevate Festival has consistently spotlighted Canadian companies through various competitions, and the 2024 event was no exception. This year, startups had the opportunity to […]