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Canadian Tech in 100 Words

Canadian Tech Sees Nine-Figure Exit with Carbon6 Sale

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Toronto’s Carbon6 Technologies, an e-commerce software aggregator, is being acquired by Minneapolis-based SPS Commerce for $210 million USD ($301 million CAD). The deal, comprising 40% SPS Commerce stock, is expected to close in Q1 2025. Carbon6, which simplifies Amazon merchant operations through software tools and revenue recovery solutions, will bring SPS an estimated $40 million in annual revenue.

Co-founder Kazi Ahmed emphasized the acquisition’s potential to enhance offerings for first- and third-party sellers. Since its 2021 founding, Carbon6 has raised $102 million CAD and acquired 16 companies. This acquisition marks a significant nine-figure exit for Canada’s tech ecosystem.

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

Trane Buys BrainBox AI: Cleantech Goes Global

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Montreal’s BrainBox AI, a leader in AI-driven HVAC optimization, has been acquired by Trane Technologies. BrainBox, founded in 2019, uses generative AI to cut emissions and energy use, impacting 14,000 buildings like Brisbane Airport and Sleep Country. Trane, with a 40,000-building client base, plans to scale BrainBox’s innovations globally.

CEO Sam Ramadori emphasized BrainBox’s commitment to Montreal, maintaining its 190 employees post-acquisition. While the deal strengthens global climate tech, it raises concerns about retaining Canadian innovation. Ramadori urged stronger government support for scaling AI firms locally.

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

Sitemate Targets Canada in $25M Expansion Push

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Australia’s Sitemate is transforming construction and industrial sectors globally with no-code tools that streamline operations. Fresh off a $25 million funding round, the company is prioritizing North America, with Canada central to its strategy. CEO Hartley Pike has spearheaded Canadian expansion, establishing offices in Vancouver and Toronto.

Sitemate’s flexible software adapts to local regulations, benefiting clients like Arcadis, Hatch, and Vinci. In 2024, users completed over 2 million forms via Sitemate’s platform, reflecting its widespread adoption. Pike aims to scale rapidly, hiring for roles in Canada, and expects the country to become Sitemate’s largest market by 2027.

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

Vancouver’s Later Acquires Mavely in $250M Deal

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Vancouver-founded Later has acquired influencer platform Mavely for $250 million, advancing its mission to streamline creator-driven marketing. Backed by Summit Partners, the acquisition merges Later’s AI analytics with Mavely’s performance data from over 120,000 creators.

Mavely has driven $1 billion in GMV for brands like Nike and Lululemon. Later CEO Scott Sutton emphasized the deal’s potential for delivering full-funnel campaigns and measurable ROI. Mavely’s cofounders will join Later’s leadership team, enhancing strategy. “Together, we’re building a future where creators are central to marketing,” said Mavely CEO Evan Wray. This move solidifies Later’s position in social commerce innovation.

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

Amazon Mandates Full Return to Office Globally

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Amazon employees are adjusting to a mandatory five-day in-office schedule starting this week, reversing the hybrid model introduced post-COVID. CEO Andy Jassy announced the change in September, citing improved team collaboration and innovation. However, employees like CJ Felli, a systems engineer at Amazon Web Services, are skeptical.

Along with 523 colleagues, Felli co-signed a letter to AWS CEO Matt Garman, criticizing the lack of data supporting the decision and emphasizing remote work’s benefits. Employees argue flexibility boosts happiness and productivity. “Breaking up the monotony helps me,” said Felli. Amazon has not provided detailed evidence to justify the mandate.

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

Softchoice Goes Private in $1.8B Deal

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Toronto-based IT provider Softchoice is set to go private in a $1.8 billion deal with St. Louis-based World Wide Technology (WWT). The all-cash acquisition values Softchoice at $24.50 per share, a 14% premium over its Dec. 30 closing price on the TSX.

WWT CEO Jim Kavanaugh highlighted Softchoice’s expertise in cloud, cybersecurity, AI, and software as complementary to WWT’s offerings. Softchoice will delist from the TSX, where it has traded since its 2021 IPO. This move reflects a broader trend of Canadian tech firms going private post-pandemic, joining peers like Nuvei, Magnet Forensics, and Payfare.

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

Employer.com Acquires Vancouver’s Bench Amid Shutdown Fallout

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Vancouver-based Bench, a prominent accounting startup that abruptly shut down last week, has been acquired by San Francisco’s Employer.com. The deal, with an undisclosed price, aims to revive the platform and address disruptions for 12,000 small business customers ahead of tax season.

Employer.com plans to relaunch Bench soon, offering clients options to continue services or transfer data elsewhere. Many of Bench’s 600 former employees may be recalled, as the HR tech firm integrates its new acquisition. Employer.com CEO Jesse Tinsley called the move part of a broader HR-focused strategy. Customers now await a smoother transition under new ownership.

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

Canadian Startups Raise $7B in 2024 Amid AI Boom

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Canadian startups raised US$2.1 billion across 134 deals in Q4 2024, with AI companies securing 40% of funds. Total venture investments reached US$7 billion for the year, a slight increase from 2023 but still far below 2021’s US$13.7 billion peak. AI and life sciences led the market, with AI firms raising US$824.2 million, boosted by Tenstorrent’s US$700-million round.

Cleantech, once resilient, saw declines, partly due to halted federal grants. Investors remain optimistic for 2025, citing government incentives and falling interest rates. However, challenges persist for pre-revenue startups navigating a cautious funding environment.

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

Canada Joins Global Shift to Digital Passports

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Canada joins the global shift to facial recognition for travel, with trials at airports aiming to replace traditional passports. Digital Travel Credentials (DTCs) securely store passport data on smartphones, expediting check-ins and security processes. Finland, Singapore, and India lead the rollout, promising faster travel but raising privacy concerns.

Critics warn of risks, including system failures, data breaches, and potential misuse of biometric data. Experts like Mozilla’s Udbhav Tiwari caution that Canada’s robust privacy laws may mitigate some risks, but global inconsistencies remain. As DTCs expand to hotels and attractions, Canada’s adoption signals a future where your face becomes your passport.

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

Taylor Swift Tops 2024 Rogers 5G Shared Moments

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Rogers has unveiled 2024’s most shared moments on its 5G network, highlighting Canadians’ passion for music, sports, and nature. Taylor Swift’s Eras Tour dominated, with Toronto and Vancouver concerts generating 74TB of data—enough to stream her music catalog 63,000 times.

Sports fans rallied behind events like the 111th Grey Cup (3.95TB) and Blue Jays’ home opener (3.1TB). A solar eclipse drew Montreal, Niagara Falls, and Kingston residents to share 184,000 photos, consuming 8.83TB. “We’re committed to keeping Canadians connected,” said Rogers CTO Mark Kennedy.

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