The Canadian startup scene ended February on a high note, with several companies raising millions in funding. Take a look at some of the deals you may have missed this week:
Montreal-based Breathe Life has raised $4.6 million in seed financing led by Diagram Ventures with participation from Real Ventures.
Breathe Life provides digital solutions for insurance companies, enabling them to better reach their customer base through superior distribution strategies.
“The life insurance industry faces distribution challenges as more consumers expect a fast and seamless digital buying experience,” said Ian Jeffrey, CEO and co-founder of Breathe Life. “At the same time, the opportunity for providers to target and engage with consumers on their own terms has never been greater.”
Medstack, a security solutions provider for healthcare apps, closed a $2.4 million oversubscribed seed funding round led by TELUS Ventures with participation from ScaleUP Ventures and Panache Ventures.
The company’s solution aims to promote healthcare innovation by enabling healthtech organizations and developers to meet security and privacy compliance requirements.
“Entrepreneurs bringing apps to healthcare are doing important work in technology, often inspired by their own personal experiences to make health management and care delivery smarter and better,” says Balaji Gopalan, CEO of Medstack.
“For too long, developers have struggled because of the challenges of onboarding the industry’s stringent requirements and proving compliance over time, while maintaining technological creative freedom. We’ve solved that.”
Medstack will use the funding to expand their teams to enhance their platform capabilities in addition to further developing channels for their new system, MedStack Control.
Vancouver’s Cmd, creator of a production security platform, closed a USD $15 million Series B funding round.
“Cmd’s next-generation server security platform is designed to protect production environments, and tailored to the specific needs of large enterprises to granularly control, monitor, and authenticate user activity,” said Karim Faris, general partner at GV (formerly Google Ventures).
Led by GV–with participation from Expa, Amplify Partners, and additional investors–the financing will go towards the growth of Cmd’s platform.
“There’s an alarming disconnect between the most highly publicized threats and the ones that security practitioners–the ones on the front lines whose role is to protect the organization’s most valuable data–believe pose the largest risk,” said Jake King, CEO and Co-founder of Cmd.
Another Montreal company, RenoRun, closed a $3 million seed financing round this week.
RenoRun streamlines the supply chain process for general contractors by enabling them to order supplies and delivering them directly to the construction site, in less than two hours.
“Supply chain in the construction industry is completely broken,” said RenoRun founder, Eamonn O’Rourke to Betakit. “Home Depot owns 25 percent of the market. The best they can do is deliver in a day or two in an eight-hour window.”
The company will use this seed funding to expand operations into the US, with rapid growth plans to enter six cities this year.
Heavy machinery rental platform, DOZR, has closed $14 million in equity financing led by BaseCamp Equity Partners with participation from FairVentures Inc. The platform uses AI to access industry data and provide customers with comprehensive information on pricing and availability of rental equipment.
BaseCamp Equity partnered with construction-industry leader, Juan Carlos Mas (JC), who will join the board at DOZR.
“We’ve been working hard to deliver an unmatched user experience that benefits every part of the construction industry,” said Kevin Forestell, CEO and co-founder of DOZR. “As marketplaces evolve beyond peer-to-peer and user expectations grow, this investment and the insight we’ll gain from having JC’s participation will enable us to push the boundaries of what a marketplace in the sharing economy can be.”