Inovia Q4: closing the year with over US$4B in portfolio financings & the launch of a new continuation fund!
Friends,
Happy New Year! We wish you good health and success for the coming year.
The last quarter of 2021 was an exciting close to a year of significant momentum and accomplishments that saw Inovia portfolio companies raise over US$4B over the year.
We announced the close of our first multi-asset continuation vehicle, Inovia Continuity Fund I, in the order of US$334M. This milestone furthers our mission to build sustainable global tech companies.
Inovia also welcomed five new portfolio companies, Life House, Neo4j, Spare, EnPowered and Momentum, while existing portfolio companies, ResQ, Spatial and Fellow, closed important financing rounds.
A new year presents an opportunity for change. If you know someone who is seeking a career move, please spread the word about the more than 3,450 open positions across our portfolio.
We look forward to another great year of partnership and continuing to make our ecosystem flourish!
— The Inovia Team
Portfolio companies in the news
Fundraising
- AppDirect partners with CDPQ to launch AppDirect Capital with US$80M | Silicon Angle
- Life House Closes CA$77M Round Co-Led By Inovia, Kayak To Help Hotels Boost Profitability | Betakit
- Inovia leads Neo4j’s US$66M Series F extension | Betakit
- ResQ cooks up a US$39M Series A for restaurant repair industry | TechCrunch
- Spatial Raises US$25M, Pivots To NFTs | Forbes
- Fellow raises US$24M; wants you to enjoy going to meetings again | TechCrunch
- Spare closes oversubscribed US$18M Series A to build the world’s first mobility operating system | Blog
- EnPowered reveals CA $12.75M in funding to become Stripe of cleantech | Betakit
- Momentum announces US$5M seed to automate sales tasks in Slack | TechCrunch
M&A and partnerships
- Hotel Engine and Sonder announce strategic partnership | Press Release
- With expansion into M&A, Clearco puts its trove of data to work | The Logic
- Hopper picks up key partnership with Marriott as part of Montreal unicorn’s seventh acquisition | Globe&Mail
- AlayaCare Acquires Delta Health Technologies, Expanding its Footprint into the Home Health Market | Press Release
- MoSys and Peraso Technologies Close Business Combination | Digital Journal
Hiring and board appointments
- Neeva hires Amazon exec to boost Ad-Free search engine | Business Insider
- Snapcommerce Announces Addition of E-Commerce and FinTech Veteran Joanne Bradford to Its Board of Directors to Accelerate Mobile Commerce Growth | Yahoo Finance
- AlayaCare Strengthens Leadership Team And Appoints Two New Board Members | AlayaCare
- OTTO Motors Expands Executive Team | Business Wire
Other exciting news
- Poka won the IOT and Wearables category at the G20
- Mike Silagadze turned Top Hat into a digital textbook juggernaut. For his next trick, he’s looking to pull profits out of cryptocurrency | Globe & Mail
- Lighspeed’s Dax Dasilva launches environmental nonprofit | Betakit
- WealthSimple launching crypto option for group retirement plan | Financial Post
- Neeva finds itself on TIME’s “The Best Inventions of 2021” list | TIME
- AlayaCare is thrilled to announce its inclusion on Fortune’s 2021 Impact 20 list | Fortune
- Snapcommerce named Top 2021 Deloitte Technology Fast 50 | Betakit
- BenchSci Named A Deloitte Technology Fast 50 Company As Impact On Drug Discovery Grows | Morningstar
- Announcing Maple 2: The Fund for the Canadian Diaspora | Andre Charoo
Inovia Thoughts
- Permanent teleworking increases risk of talent drain | The Gazette
- Inovia Sessions: Intentional Diversity
- Neo4j: How Neo4j Is Unlocking the Next Generation of Data-Driven Technology
- EnPowered: A Light Bulb Goes Off: How EnPowered Is Changing the Dynamics of the Energy Industry for Everyone’s Benefit
- Momentum: It’s Time to Give Sales Operations the Momentum They Need
- Spare: Transportation Efficiency is Just Getting Started
- Life House: Life House is Powering Independent Hotel Management
Industry highlights
- BlackRock Eyes Canadian Tech by Backing Venture Firm Inovia’s Fund | Bloomberg
- Competition heats up for top talent | Toronto Star
- Hopper’s series G kept Montréal funding strong in Q3 | Betakit
