Newsletter – IGF second investment, ThoughtWire attracts $20M
April 5, 2018
It’s been a busy winter for Yaletown, with the second investment of our new Innovation Growth Fund into Toronto-based ThoughtWire, who joins Vancouver’s Finn.ai as the first members of our IGF portfolio. With that coast-to-coast layup, we’re setting the foundation for our national strategy.
We look forward to seeing many of you at our upcoming AGMs: April 19-20 for Fund II, and May 9 for IGF. Wishing everyone a great spring ahead; it’s great to see signs of growth all around.
ThoughtWire closes $20-million financing, Yaletown leads round
On March 5, ThoughtWire, developers of the award-winning Ambiant™ IIoT platform, announced the closing of a combined $20 million debt and Series A financing. Yaletown Partners led the round which includes a respected syndicate of new and current investors including BDC Capital, Round13 Capital, Epic Capital and Comerica. ThoughtWire will use the financing to further the company’s geographic growth using Ambiant to make cities smarter, buildings more automated and energy efficient, and hospitals and workplaces safer, by interconnecting and orchestrating people, workflows, data and things in real-time.
Finn AI launches personal banking chatbot with BMO
In mid-March, Finn AI announced it has partnered with The Bank of Montreal (BMO) to create a personal banking chatbot for their customers. This is the first ever public launch of a chatbot with a national, tier one, Canadian bank.
PHEMI announces a new chair and health sciences experts for Board
On February 22, 2018, Rick Makos, President and CEO of PHEMI, the company delivering big data solutions with built-in privacy, governance, and enterprise-grade management, announced Mike Satterfield as the new PHEMI Board Chair, and welcomed Karimah Es Sabar, President and CEO, Quark Venture Inc, onto the company’s board.
Mike Satterfield, a co-founder, advisor and former partner with Yaletown Partners, brings almost 40 years of technology entrepreneurship, executive management and governance experience to PHEMI. Satterfield succeeds PHEMI co-founder John Seminerio as Chair. Seminerio will continue to support PHEMI’s growth as an advisor to the Company.
Other Newsletter highlights:
- Cooledge Lighting Inc. upgrades product portfolio to deliver even greater design flexibility and cost effective installation
- Canadian Startup Funding in 2017 – City-by-city ecosystem review.
- Elastic Path Showcases Commerce Experiences of the Future at Adobe Summit
Author: Yaletown Partners
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