News

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Today we are thrilled to announce Relay Ventures III, a new US$150MM (C$200MM) venture capital fund focused on early-stage investments in mobile software, services, content, and technology. Limited Partners in the new fund include: Northleaf Capital Partners, Kensington Capital Partners, Generation Capital, La Caisse de dépôt et placement du Québec, EDC, AEC, and Royal Bank of Canada.

Throughout the process, we have concurrently invested in several startups across the US and Canada. Among the portfolio companies that have received investments from our new fund are: Kelowna-based FreshGrade, which provides classroom communication and assessments for K-12 education; 7shifts, a Saskatoon-based startup that provides workforce scheduling solutions for the restaurant industry; Artificial Intelligence (AI) messaging and bot company Automat.ai based in Montreal; wellness rewards and loyalty startup Carrot Insights in Toronto; Kwik Commerce, the Sunnyvale and Tel-Aviv based one-touch commerce company; and UJet, a next generation mobile-first customer service technology company based in San Francisco.

Since our inception in 2008, we have invested C$355MM into 76 companies (24 of which have exited) that have collectively raised over C$1.3B and employ 3,400 people. Today, we have C$670MM under management and are the largest private early-stage fund manager in Canada with an exclusive focus on mobile software, services, content, and technology. We are also the most active Canadian software investor in the U.S.j

Over the last eight years, we have maintained an exclusive focus on mobile and today 1 in 2 smartphones in the world run software from our portfolio companies. We are excited to continue this momentum as we partner with remarkable entrepreneurs making a significant impact in their markets.

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“With CAD $13 million (USD $10 million) from Relay Ventures, the company announced the official release of the OMbra targeting female runners. The bra captures breathing patterns and rhythms of runners and processes it into insights delivered through a mobile app, called OMrun, with the goal of helping users become more efficient runners.”

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“Founded in 2007, Ecobee is the second largest seller of Internet-connected thermostats in the US, with 24% share of the market, according to research firm NPD Group – second only behind Alphabet’s Nest. In 2014, the $250 Ecobee3 came out with strong reviews that compared it favorably to Nest’s thermostat.”

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Kira Talent, provider video-based talent assessment platform for university and college admissions, has announced a $5 million Series A. The company’s total funding to date is $8 million, including a $1.8 million round in 2013 and a $1.2 million round in 2014. The company will use the funding to develop technology focused on the entire student journey, from admissions to job placement.

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“Saskatoon-based 7shifts, which provides employee scheduling software for restaurants, announced $1.2 million in seed funding.

7shifts will use the funding to expand their sales teams and add new features to their platform. The company’s funding round was led by Relay Ventures, with participation from Globalive Capital, Boost VC, and Tim Draper.”

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