Tag: Venture Capital

03
Mar

Sensibill closes $17.3 million Series A to scale digital receipt data service for banks

Sensibill closes $17.3 million Series A to scale digital receipt data service for banks

TORONTO, ON – March 02, 2017 – Sensibill has raised a sizeable $17.3 million Series A led by Information Venture Partners and OpenText Enterprise Apps Fund (OTEAF).

Sensibill offers a suite of value-added services for mobile banking apps centered around the everyday receipt and enabled by machine learning. Last year, the FinTech company, which is headquartered in Toronto, launched its core product, a smart receipt management service, with Scotiabank and TD Canada Trust’s mobile wallet app UGO Wallet. The round led by Canadian VC firms is one of the largest A-rounds in Canada to date.

“We are pleased to be leading this round of investment,” said David Unsworth, Co-Founder and General Partner at Information Venture Partners. “As experienced financial technology investors, we have long believed in the inevitable ubiquity of mobile banking as a core digital channel for all financial institutions. We believe Sensibill is well-positioned to bring its digital receipt capabilities into every mobile banking application and are thrilled to be their partner as they continue to scale and develop a world-class financial technology company.”

Sensibill says the funds will enable the company to continue developing a robust system that can structure data from any merchant receipt and return rich insights to consumers and businesses alike. Currently, Sensibill is the market leader in extracting and structuring receipt data using deep learning techniques, but the startup claims that this is only the beginning compared to what they are layering on-top.

“We knew that people wanted an intuitive and secure solution for managing their receipts, but we’ve also learned a great deal about how they want to make better use of their purchase information,” said Corey Gross, Co-Founder and CEO of Sensibill. “Think reminders for when warranties expire, being able to optimize household budgets, and highly targeted credit card rewards. That’s where machine learning comes into play, and we’re excited to add more fuel to our growing research and AI team right here in Toronto.”

Globally, financial institutions are waking up to the potential of receipt data. The demand is growing for receipt solutions that are able to contextualize purchase information down to the payment and SKU-level. Having already announced partnerships with Tier 1 Canadian banks, Sensibill plans on allocating the new resources towards growth and delivery efforts in the United States, U.K, and Australia.

Sensibill has attracted investment from industry veterans — a strategic move on the company’s part. “We want to work with investors who really understand banktech, and have had industry-defining success building and scaling financial services companies,” says Gross. Sensibill’s B2B2C partnership model for bringing new technology to banks and their customers is a welcomed deviation from the “challenger” position FinTechs often take.

“Banks are hungry for innovative customer-facing solutions that solve everyday pain points. The reason digital receipts are such a desirable offering is because it has mass customer appeal and enables personalization,” said Drew Sievers, founding partner of San Francisco-based Operative Capital and former founder and CEO of mobile banking pioneer, mFoundry. “Sensibill has delivered impressive results for some of the largest banks in the world, and is now well-positioned to be a global leader and an indispensable partner to financial institutions.”

“Our investment reflects our belief in the tremendous market potential for their technology and management’s ability to execute on their vision. In a short space of time Sensibill has closed deals with some of the world’s leading financial institutions in a highly competitive environment. We are very excited about their growth prospects and look forward to working with Corey and his outstanding team,” said Tony van Marken, General Partner at OTEAF.

Both Unsworth and van Marken will be joining Sensibill’s board of directors.
San Francisco-based Operative Capital, Mistral Venture Partners, and existing investor Impression Ventures have also participated in the round.

About Sensibill
Sensibill is a white-label Software as a Service platform that allows personal and business banking customers to manage line-item receipts directly from their desktop and mobile banking applications. Customers can capture and store paper and electronic receipts, which can then be accessed and used for returns, exchanges, expenses, taxes and accounting.
Sensibill leverages rich item-level purchase data to deliver personalization and contextualized services to banking customers. To find out more visit www.getsensibill.com.

About Information Venture Partners
Information Venture Partners (IVP) is a Toronto-based venture capital group investing out of its $106 million second fund. IVP is focused on fast-growing enterprise FinTech and enterprise software companies based in North America. As a Series A investor, IVP looks for rapidly growing companies with differentiated technology solutions addressing significant market opportunities. Portfolio companies include Adaptive Insights, Verafin, Igloo Software, eSentire, PostBeyond, Q4 and Sensibill. Follow IVP on the web at www.informationvp.com or on Twitter @informationvp.

About OpenText Enterprise Apps Fund
The OpenText Enterprise Apps Fund (OTEAF) was formed in 2015 and invests in Canadian technology companies that are building disruptive, enterprise applications that leverage the power of the internet, big data, predictive analytics, mobility and machine learning. OTEAF has offices in Toronto, Ontario and Montreal, Quebec. www.oteaf.vc

17
Jan

Q4 Acquires CapMark Clarity to Bring Next Gen Shareholder ID and Market Intelligence Solutions to UK and European Markets

Acquisition will combine Q4’s disruptive technology with CapMark Clarity’s market intelligence expertise to bring unprecedented speed and accuracy to shareholder identification in the UK and Europe

London, UK, January 17, 2017 — Q4 Inc., a global leader in cloud-based investor relations and capital market solutions, is announcing the acquisition of CapMark Clarity, a provider of shareholder ID and market intelligence to UK and European markets. CapMark Clarity will be merged into Q4’s intelligence division, and Amit Sanghvi, CEO of CapMark Clarity, will join as senior director, international advisory.

With more than a decade of experience, CapMark Clarity set a new standard for traditional investor relations services in Europe. CapMark Clarity introduced its proprietary market intelligence technology and shareholder ID solutions to the market in 2012 and established itself as an innovative shareholder ID provider in Europe and AsiaPacific. The merging of CapMark Clarity’s expertise with Q4’s data-driven intelligence creates a new European powerhouse in market intelligence and shareholder ID solutions for IR professionals.

“I have always been impressed with the work Amit has done. Combining CapMark Clarity with our market-leading algorithms enables us to provide the fastest, most accurate and actionable intelligence to our UK and European clients,” says Darrell Heaps, CEO of Q4. “We believe that our data science approach to intelligence allows us to provide a level of speed and accuracy that has not been previously available in the UK and Europe. We are excited to partner with Amit and the team at CapMark Clarity to bring these next gen solutions to the market.”

Q4 uses next generation technology such as machine learning algorithms and natural language processing to automate processes for IR professionals with unprecedented speed, ease and precision. With the acquisition of CapMark Clarity, Q4’s full suite of next gen IR solutions, including website, webcasting, shareholder ID and the firm’s CRM and IR workflow platform, Q4 Desktop, will now be available to European customers.

“Q4 has been a real driver of technological innovation in the IR industry for several years. With its use of artificial intelligence, Q4 now leads the industry into a new era of smart technology. We look forward to leveraging this technology and empowering European IR professionals by bringing high-quality market intelligence and shareholder ID right to their fingertips,” says Amit Sanghvi, founder and CEO of CapMark Clarity.

Q4’s European intelligence division will operate out of London, UK. Now with more than 1,200 global clients and offices in New York, Toronto, Chicago, Copenhagen and London, Q4 is firmly positioned to continue its strong growth trajectory into 2017 and beyond.

For more information:
Taryn Shulman, Q4 Inc.
Director, Marketing
416-540-9832
taryns@q4inc.com

About Q4 Inc.
Q4 is a global leader in cloud-based investor relations and capital market solutions. Thousands of brands around the world use Q4 website, webcasting, CRM, analytics and surveillance solutions to better connect with their investors and understand the capital markets. In June 2016, Q4 launched Q4 Desktop, the industry’s first fully integrated investor relations platform, which integrates communications tools, surveillance and analytics into a fully featured IR workflow and CRM application. Q4 has offices in New York, Chicago, Toronto, Copenhagen, and London. Visit www.q4inc.com to learn more.

About CapMark Clarity
CapMark Clarity is an independent capital markets intelligence firm with a focus on delivering the highest quality and personal service to each of its clients. Backed by a team with over a decade of experience, CapMark Clarity sets a new standard for traditional investor relations services and leads the way into a new era of smarter investor relations.

17
May

Q4 Closes $22M Series B Financing to Fuel Product and Sales Expansion

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TORONTO, ON – May 17, 2016 – Q4 Inc., a global leader in SaaS investor relations and capital market solutions, announced today the closing of a $22 million Series B financing, bringing the Company’s total amount raised to $30 million.

This round was led by OpenText Enterprise Apps Fund (OTEAF), Information Venture Partners, and HarbourVest Partners along with Emerillon Capital, and Kensington Capital Partners. Series A investors Plaza Ventures and Accomplice also participated. The funding will go towards expanding the Company’s engineering, sales and marketing teams.

“We are delighted to lead this round,” said Richard Black, General Partner at the OpenText Enterprise Apps Fund. “Our investment in Q4 reflects our belief in the tremendous market potential for their technology and management’s ability to execute on their vision. With over 600 top tier customers Q4 has demonstrated their ability to deliver value to the most demanding companies on a consistent basis. We are very excited about their growth prospects in the future.”

Q4 has been steadily expanding their investor relations platform since 2013, which now includes investor websites, earnings webcasting, market intelligence and investor CRM suite. The Company is focused on applying artificial intelligent methods such as machine learning and natural language processing to provide real-time insights on institutional trading, market sentiment, volatility and investor activism.

“Over the last 10 years, the market has become more complex and opaque than ever before. Alternative trading systems, dark pools and high frequency trading have created a challenging environment, making it almost impossible for corporates and investors to understand what is happening within the global financial markets,” said Darrell Heaps, CEO of Q4 Inc. “Our products bring simplicity to this problem and help companies better understand the market, manage investor engagement and communicate with the street. We are at the early stages of our vision and look forward to using these funds to continue expanding our platform and analytics for corporate and institutional clients.”

“There has been very limited innovation in investor relations technology.  Q4 is at the forefront of adopting and developing new technologies, changing the user experience for its communications customers and redefining intelligence methodologies to provide better insights to IROs, CFOs and CEOs,” said Robert Antoniades Co-Founder and General Partner of Information Venture Partners.

2015 was a watershed year for Q4, generating record client & ARR growth and executing on Company’s product suite expansion. Launching in June, the new Q4 desktop will be the investor relations industry’s most integrated market intelligence, investor CRM, website and webcasting platform on the market. Q4 plans to unveil this new product at the National Investor Relations Institute’s annual conference in San Diego, June 4-8, 2016.

“As we expand our presence in Canada, HarbourVest is excited to partner with Q4 in this next stage of its growth path,” commented David Zug, Vice-President, HarbourVest Partners. “This dynamic team and technology are poised to continue to transform the way public companies engage their shareholders.”

“We are excited to partner with Q4 at this critical inflection point in its growth,” said Raghu Bharat, Investment Manager at Emerillon Capital. “As demonstrated by their remarkable growth, this round of funding will help Q4 capitalize on global demand for their solutions, and accelerate the company’s pace of product innovation.”

Q4 has over 150 employees in offices in Toronto, Chicago and New York.

About Q4 Inc.
Q4 is a global leader in communication and intelligence solutions to the IR market. With hundreds of Fortune 1000 brands using Q4 website, webcasting, analytics and advisory solutions, we have created a full service platform that enables public companies to better connect with their investors and understand the capital markets. Visit www.q4inc.com to learn more.

06
May

Assent Compliance Attracts $20 Million Investment To Drive Global Growth

andrew

OTTAWA, ON – May6, 2016 – The investment is led by Boston-based Volition Capital with participation from OpenText Enterprise Application Fund (OTEAF), Business Development Bank of Canada (BDC), National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP), Royal Bank of Canada (RBC) and private investors.

Assent Compliance provides a comprehensive all-in-one compliance automation platform for organizations required to comply with a variety of product stewardship, materials management and ethical sourcing regulations. The funding will enable Assent Compliance to continue to invest in its platform and increase the number of team members across all divisions, particularly in R&D and Product Management. With a current headcount of 165, this growth will involve an additional 100 new hires over the coming 12-18 months.

“We are delighted to be partnering with the Assent management team”, said Richard Black, General Partner at OpenText Enterprise Apps Fund. “Assent Compliance has demonstrated their capabilities with proven success working with top tier customers. With the support of an outstanding syndicate of investors, Assent has a unique opportunity to become the global leader in the compliance automation market. “

Global supply chains are complex. Companies are often required, by law, to survey their supply chains to ensure materials are sourced ethically, workers are treated fairly, products are safe and their environmental impact is limited. Assent currently works with over 30 percent of S&P 500 product companies and a network of over 300,000 supplier companies globally to ensure compliance with these regulations.

Assent Compliance helps clients incorporate best practices into their compliance programs and provides them with the tools to survey their supply chains efficiently, without incurring extravagant costs. Assent Compliance also provides educational materials for companies and suppliers to stay ahead of the regulatory curve through an internally-developed, integrated learning management system.

In the midst of an evolving global regulatory landscape, companies turn to Assent Compliance to fulfill an integral role in the compliance process.

About Assent Compliance:

Assent Compliance, founded in 2005, enables companies to manage and streamline their supply chain and product compliance efforts to ensure their products meet the standards of various market access regulations. Assent currently works with over 30 percent of S&P 500 product companies and thousands of small and medium-size businesses globally.

About Volition Capital:

Volition Capital is a growth equity firm based in Boston, Massachusetts. The Volition team principally invests in high growth, founder-owned companies across different technology sectors. Volition Capital currently manages a portfolio of 17 market leading companies.

23
Sep

ScribbleLive raises $35m

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Digital Content Marketing Leader to Accelerate Growth and Dominate Data Science Technology Landscape

TORONTO, ON – Sept. 23, 2015 – ScribbleLive, a global leader in digital content marketing, is excited to announce the closing of its expansion round of funding. The OpenText Enterprise Apps Fund (OTEAF) led the $35 million investment along with contributions from Emerillon Capital, Blue Cloud Ventures, Northleaf Venture Catalyst Fund, and a large U.S.-based asset manager, along with participation from all existing ScribbleLive venture investors including: Rogers Ventures, Summerhill Venture Partners, Georgian Partners, Export Development Corp. (EDC) of Canada and Waterloo Innovation Fund.

“We are thrilled to have five new experienced shareholders and participation from all of our existing venture investors in this funding round,” said Vincent Mifsud, CEO of ScribbleLive. “Our business has been growing at 100 percent without consuming capital, which has driven massive interest in our company. This interest has culminated in a Series D round, which is greater than all of our previous financing combined. Our stronger balance sheet opens new strategic avenues for accelerating our growth to further enhance our market share.”

As consumers continue to be inundated with interruptive advertising from a variety of conventional sources, content marketing is forging new, unparalleled opportunities for modern marketers and major brands to connect with their audience.

“We are focused on disrupting the marketing industry by helping brand marketers, sports and media companies grow their businesses using content and data science technologies,” said Mifsud. “Advertising effectiveness is on the decline and content marketing will be the key strategic differentiator to help businesses grow. We believe that great content marketing should be incorporated into every element of marketing from social marketing, events, and product launches to microsites. Our data science powered platform helps marketers do exactly that.”

ScribbleLive’s patented linguistic and mathematical algorithms provide insights to enable marketers to create impactful original content in accordance with their marketing strategy. In addition, ScribbleLive’s workflow technology platform allows marketers to distribute this content across a variety of landscapes and then measure the effectiveness and engagement.

“We’re delighted to lead the funding round,” said Richard Black, General Partner at the OpenText Enterprise Apps Fund (OTEAF). “ScribbleLive has a proven management team and has attracted top tier global customers that derive significant business benefits from their daily use of the platform and its analytics capability. The company is backed by an outstanding investment syndicate that can support ScribbleLive on its next phase of growth.”

ScribbleLive delivers its content marketing software solutions to the largest brands and media companies across the globe, including Ferrari, Red Bull, The Football League, NFL, and hundreds of others. Content optimized by ScribbleLive grows your upper funnel and builds brand awareness via patented, data-driven content planning, creation, distribution, and measurement tools.