Decoder.ca

Canadian Tech in 100 Words

Shopify Reports Strong Growth, Faces Investor Skepticism

by

Shopify reported US$2.81 billion in fourth-quarter revenue, up 31.2% year-over-year, surpassing analyst expectations. Merchants sold US$94.5 billion in products, with transaction-based services driving US$2.15 billion in revenue. The company posted an operating profit of US$585 million but warned that 2025 growth would slow.

Its U.S. market contributed 64.3% of revenue, raising concerns amid trade war risks. Investors reacted negatively to Shopify’s cautious forecasts. Meanwhile, Shopify removed Kanye West’s store for selling a Nazi-themed T-shirt, calling it a fraudulent stunt. The company plans to keep its workforce stable in 2025 after prior job cuts.

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

    Clutch Secures $50M Series D, Valuation Rebounds

    by

    Toronto-based online car retailer Clutch has raised $50 million in a Series D round led by Altos Ventures, an early investor in Roblox. New investors Industry Ventures and BMO Capital Partners joined, alongside Flight Deck Capital and FJ Labs. The funding boosts Clutch’s valuation above $575 million, recovering from its 2023 downturn.

    CEO Dan Park noted that 2022 and 2023 were difficult years, but sees investor confidence returning. Clutch has quadrupled revenue over three years and turned profitable in 2023. The company plans to hire 100 employees as it expands operations.

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

    Toronto’s Alexi Expands with TD-Backed Funding

    by

    Toronto-based legal tech firm Alexi has secured a $4.5 million debt facility from TD Innovation Partners, building on its $15 million Series A round led by Drive Capital in 2023. Founded in 2017 by Mark Doble, Alexi’s AI-powered tools assist legal professionals by automating up to 80% of litigation tasks.

    The company recently launched Advanced Legal Reasoning and Alexi Enterprise, generating strong interest in the sector. VP of Finance George Taleporos emphasized the funding’s role in supporting Alexi’s North American expansion in 2025. TD’s Mark Kiyonaga praised Alexi’s leadership and product innovation.

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

    Shopify Removes Ye’s Store for Violating Terms

    by

    Shopify has removed an online store belonging to Ye, the artist formerly known as Kanye West, after it began selling T-shirts featuring a swastika. The controversial apparel appeared on yeezy.com following a Super Bowl ad featuring Ye. By Tuesday, Shopify confirmed it was no longer processing orders and had taken down the store, citing violations of its platform rules.

    Ye’s representatives did not respond to media inquiries. This follows Adidas’ 2022 decision to end its lucrative Yeezy partnership over Ye’s antisemitic remarks. At its peak, Yeezy products generated $2 billion annually, representing 10% of Adidas’ revenue.

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

    GenAI Alters Critical Thinking Practices, Study Finds

    by

    Is GenAI making us sharper or lazier? A study of 319 professionals found that confidence in AI leads to less critical thinking, while self-confidence boosts it. Researchers analyzed 936 real-world cases and found that AI shifts thinking toward verifying information rather than deep analysis.

    With AI taking on more workplace tasks, the challenge now is designing tools that support—not replace—critical thinking. As AI transforms knowledge work, will we become better decision-makers or over-reliant on automation?

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

    Jane Software Taps Digital Health Veteran for U.S. Expansion

    by

    North Vancouver-based Jane Software has appointed Howard Spector, cofounder of SimplePractice, as strategic advisor and executive partner. Spector, a 20-year veteran in digital health, brings expertise to support Jane’s expansion into the U.S. market.

    Jane cofounders Ali Taylor and Trevor Johnston aim to leverage Spector’s experience to enhance their clinic management platform, which serves 190,000 practitioners and 70,000 clinic staff. Jane, founded in 2012, was recognized in Deloitte Canada’s Enterprise Fast 15 in 2024. Spector praised Jane as a “mission-based, customer-centric company” ready for further growth.

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

    Canada Growth Fund Commits $50M to Longbow’s Energy Transition Fund

    by

    Canada Growth Fund (CGF) has committed up to $50 million to Longbow Capital’s Energy Transition Fund II, supporting North America’s shift to lower-carbon energy solutions. The Calgary-based private equity firm focuses on technology and services that reduce emissions.

    CGF CEO Yannick Beaudoin praised Longbow’s expertise and investment pipeline, marking CGF’s tenth investment since launching in 2023. Managing Director Tyson Birchall highlighted the transformative opportunities in clean energy. Longbow Capital, founded in 1997, manages $1.5 billion in assets, with backers including BDC Capital and TD Bank Group.

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

    CEOs Fear AI Knowledge Gaps Could Stifle Growth

    by

    A new Cisco study reveals a paradox: while 80% of CEOs recognize AI’s benefits, 74% fear knowledge gaps will hinder decision-making. 53% worry about losing competitive advantage, yet most are investing in technology, infrastructure, and cybersecurity to close the gap. Cisco’s Jeetu Patel warns, “Companies will either be AI-driven or irrelevant.”

    Despite concerns over skills shortages and IT gaps, 96% of CEOs are leaning on trusted partners and technology leaders to navigate AI adoption. Cisco’s research underscores the urgency for businesses to modernize networks and cybersecurity to remain competitive.

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

    GTMfund Raises $54M to Back Early-Stage Startups

    by

    GTMfund, a VC firm founded by Max Altschuler, has closed its second fund at $54 million, surpassing its $50 million target. The Vancouver firm specializes in operator-led investing, with 300 LPs from AWS, OpenAI, Procore, and Snowflake, along with six institutional investors such as Bain Capital Ventures and Inovia Capital.

    Fund I backed startups like Writer, Atlan, and Vanta, and the latest fund will support 40 early-stage companies at pre-seed to Series A, with check sizes from $500K to $1.5M. Altschuler calls GTMfund a “labor of love” for founders and operators alike.

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

    CIX Reveals Canada’s Most Promising Startups for 2025

    by

    The CIX Startup Awards have named their 2025 recipients, highlighting Canada’s most promising emerging tech companies. Selected by over 100 investors, the winners will pitch at the CIX Summit on March 26 in Toronto. Notable fintech recipients include Vancouver’s MyFO, Montreal’s Sibli, and Toronto-based Brim Financial and Float Financial.

    Winnipeg’s Conquest Planning also secured recognition after a standout 2024. CIX co-chairs Neha Kera and Matthew Leibowitz praised the winners, calling them leaders in innovation during a challenging year for startups. The Summit is powered by Elevate, a Canadian non-profit driving tech transformation.

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