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Canadian Tech in 100 Words

Toronto’s Beacon Raises $250M to Scale AI Rollup Strategy

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Toronto-based Beacon Software has raised $250 million USD in Series B financing to accelerate acquisitions of smaller software and services firms and embed artificial intelligence across their operations. The all-equity round was co-led by General Catalyst, Lightspeed Venture Partners, and D1 Capital, valuing Beacon at $1 billion.

Founded in 2023 by former Instacart president Nilam Ganenthiran and ex-Sequoia partner Divya Gupta, Beacon calls itself “the anti-private equity firm,” acquiring profitable companies to grow long-term rather than sell quickly. The company has already partnered with dozens of businesses—including several in Canada—and employs technologists across Toronto, San Francisco, and New York.

Want to know more? Check out the source code on BetaKit.

Spexi Partners with SkyWatch to Expand Drone Imagery Access

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Vancouver-based Spexi has partnered with Kitchener’s SkyWatch to integrate its ultra-high-resolution drone imagery into the SkyWatch Content Store. The collaboration combines satellite, aerial, and drone data through a single platform, allowing users to browse, purchase, and integrate imagery for diverse applications.

Spexi CEO Bill Lakeland said the partnership extends the company’s mission to deliver accessible, high-resolution data that supports critical decisions across industries. Founded in 2017, Spexi has raised over US$20 million, while SkyWatch, established in 2014, continues expanding its geospatial data aggregation platform to simplify global access to Earth observation imagery.

Want to know more? Check out the source code on Techcouver.

Flare Raises $30M to Accelerate Global Cybersecurity Expansion

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Montréal cybersecurity firm Flare has secured an additional $30 million USD to support global expansion, product innovation, and M&A initiatives. The round includes $15 million in new equity financing led by Inovia Capital’s Growth Fund with participation from Base10 Partners and White Star Capital, plus $15 million in debt from the Bank of Montréal.

Founded in 2017, Flare develops software that monitors cyber threats across the dark web and digital platforms. CEO Norman Menz said the company’s recurring revenue grew 160 percent year-over-year. The scaleup now serves clients in over 50 countries and employs 120 people globally.

Want to know more? Check out the source code on BetaKit.

Canada’s Maple Adds ADHD Provider in National Expansion

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Toronto-based Maple, Canada’s leading virtual care company, has acquired Beyond ADHD, a national provider specializing in ADHD assessment, diagnosis, and follow-up. The acquisition strengthens Maple’s focus on expanding accessible, clinically led mental health care.

Founded in New Brunswick, Beyond ADHD will operate as a Maple subsidiary, continuing services for more than 20,000 patients under its existing clinical model. CEO Dr. Brett Belchetz said the deal “closes critical gaps in care” while supporting evidence-based treatment. Beyond ADHD founder Dr. Hanif Chatur said Maple’s scale and technology will accelerate nationwide access to ADHD care. Terms of the acquisition remain confidential.

Want to know more? Check out the source code here.

Plum Unveils Index Ranking North America’s Durable Workforce Skills

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HR technology firm Plum has released its 2025 Durable Skills Index, ranking the most enduring workforce strengths across 82 North American cities. Based on 59,000 participants and 2.5 million assessment responses, the index spotlights skills such as communication, adaptability, and decision-making—traits CEO Caitlin MacGregor calls “durable” rather than “soft.”

The study shows Kitchener-Waterloo excels in communication and persuasion, while Calgary leads in decision-making and innovation. Using its AI-powered Role Model platform, Plum helps employers align these durable skills with 40,000 job types, offering data-driven insights for workforce planning and career development in an era of rapid automation.

Want to know more? Check out the source code on Techtalent.ca.

Questrade Secures Federal Approval to Launch Questbank

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Toronto-based Questrade Financial Group has received federal approval to launch Questbank, becoming Canada’s newest Schedule 1 bank. The Office of the Superintendent of Financial Institutions granted the licence after a six-year process that began in 2019. CEO Edward Kholodenko called the milestone “monumental,” saying it advances Questrade’s mission to help Canadians achieve greater financial security.

Founded in 1999, Questrade manages over $85 billion in assets and reported a 350 percent year-over-year surge in trading volumes. Questbank is expected to announce its first suite of banking products in 2026, bringing long-awaited competition to Canada’s concentrated financial sector.

Want to know more? Check out the source code on BetaKit.

Vancouver Startup CURA Targets Cement’s Carbon Problem

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Vancouver-based climatetech startup CURA has emerged from stealth with plans to build a pilot plant to demonstrate its low-carbon cement technology. The company’s electrochemical process splits limestone into lime and a pure stream of CO₂ before it enters the kiln, cutting emissions by up to 85 percent.

Led by CEO Erin Bobicki, former VP at Brimstone, CURA’s founding team includes CTO Phil De Luna and UBC researcher Sabrina Scott. The company’s retrofit-friendly process could help global producers decarbonize without overhauling infrastructure, positioning Canada as a leader in cement innovation. CURA joins CDL’s Climate Stream in Paris.

Want to know more? Check out the source code on CleanEnergy.ca.

Shopify Surges Past Forecasts with 32% Q3 Growth

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Shopify posted stronger-than-expected third-quarter results, beating its own growth forecast and sustaining solid cash flow amid continued investment in artificial intelligence. The Ottawa-based company reported $2.84 billion USD in revenue, up 32 percent year-over-year, with free cash flow at 18 percent—its ninth straight quarter in double digits.

Gross merchandise value also rose 32 percent to $92 billion, the highest growth rate since 2021. Net income fell to $264 million, reflecting markdowns on equity investments and rising AI and marketing expenses. Despite leadership changes, Shopify expects steady revenue and free cash flow in the fourth quarter as it expands internationally and deepens AI integration.

Want to know more? Check out the source code on BetaKit.

Calgary Cleantech Expands with U.S. Copper Collaboration

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Calgary-based GeologicAI, which raised $60 million in Series B funding in July, has announced a strategic partnership and investment in Edge Copper to advance the Zonia Copper Project in Arizona. The Alberta cleantech’s AI-driven platform uses high-resolution sensors and machine learning to analyze drill core data in real time, improving exploration accuracy and reducing environmental impact.

GeologicAI president Patrick Redmond said the collaboration represents a “natural extension” of the company’s mission to enable high-confidence decisions in mineral discovery. Edge Copper aims to advance Zonia to shovel-ready status within four years amid growing global copper demand.

Want to know more? Check out the source code on Calgary.tech.

Xanadu to Go Public in Landmark Quantum SPAC Deal

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Toronto-based Xanadu Quantum Technologies will go public through a merger with U.S. special purpose acquisition company Crane Harbor Acquisition Corp., creating the world’s first pure-play photonic quantum computing firm. The combined company will trade on Nasdaq and the Toronto Stock Exchange.

Xanadu, founded in 2016, builds room-temperature quantum computers and is behind PennyLane, an open-source quantum programming platform used by 47 percent of developers globally. CEO Christian Weedbrook said the deal will accelerate development toward a fault-tolerant system by 2029. Xanadu’s clients include Volkswagen, Mitsubishi Chemical, and Rolls-Royce. Financial terms of the transaction were not disclosed.

Want to know more? Check out the source code here.