Author: BetaKit

FanSaves wins Renfrew startup competition, securing $100,000 investment

FanSaves, a SaaS company that wants to help organizations increase engagement among their fanbase, has won the second annual RC100 competition, receiving a $100,000 seed investment from Renfrew County Community Futures Development Corporation (CFDC).

“We want to show the world that Renfrew County is the place to do business and we want to prove that a rural county can help produce a world-class tech startup.”

The Cornwall-based startup helps sports teams and other organizations, including towns, e-sports, events, universities, schools, and influencers, by offering fans discounts and deals from sponsors of their favourite teams and organizations. Following the win, FanSaves plans to run its own innovation project in Renfrew County in the fall, hoping to offer locals the chance to help the co-founders solve challenges faced by the entrepreneurial community.

“We want to prove that you don’t have to live in Silicon Valley to be a successful tech company,” said Shannon Ferguson, co-foun..

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1Password reports 300 percent growth in B2B revenue over the last two years

1Password, a Toronto-based password manager, recently announced its B2B revenue has risen more than 300 percent over the last two years, and that it serves over 47,000 paying businesses worldwide, from SMEs to enterprises.

“I think the growth has really happened because of the current state of cybersecurity. The real answer to data breaches is a password manager.”

According to the 2018 Verizon Data Breach Investigations Report, passwords are the primary cause of data breaches for businesses, accounting for 81 percent of breaches in 2018. As a result, more enterprises are making security best practices a top priority. 1Password, which began targeting its offering to consumers, moved into a B2B play in recent years, and now sees itself as the actionable face of what to do in the case of a data breach.

“There is a clear and growing trend towards data breaches and their associated costs [are] accelerating,” said Jeff Shiner, 1Password’s CEO. “We launched 1Password Business three years a..

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S|W: The SaaS Weekly – Wattpad’s European expansion

The SaaS Weekly is a weekly newsletter covering major SaaS news from Canada and around the globe.

Subscribe to S|W using the form at the bottom of this page to ensure you don’t miss out on the most important SaaS news every week!

Saskatoon-based SalonScale Technology closes $1 million seed round
Saskatoon-based SalonScale Technology has closed over $1 million in seed funding for its smart technology-powered app helping salon owners and stylists.

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Bridgit raises $1.5 million from CIBC Innovation Banking
Kitchener-based Bridgit, a project management platform for construction businesses, has received $1.5 million in debt growth capital fina..

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TruTrace completes first phase of medical cannabis pilot with Shoppers Drug Mart

Vancouver-based cannabis blockchain company TruTrace Technologies has completed the first phase of its blockchain-secured pilot program with Shoppers Drug Mart.

“As the cannabis sector continues to rapidly evolve in Canada, the industry needs to increase transparency to all stakeholders.”

The pilot program is designed to increase transparency, interoperability and product identification within the medical cannabis industry. TrueTrace’s software will be used as a central hub for identity management, asset tracking, validation, and product authentication. Shoppers has commissioned TruTrace and Deloitte to execute Phase 2 of the pilot, with full production and implementation of TruTrace’s StrainSecure platform, slated to begin in November 2019.

“As the cannabis sector continues to rapidly evolve in Canada, the industry needs to increase transparency to all stakeholders by demonstrating adherence to rigorous procedures to maintain the overall integrity of the supply chain,” said David ..

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MolecuLight’s oncology business acquired by Germany-based Photonamic

Toronto-based MolecuLight‘s clinical oncology business has been acquired by Photonamic GmbH & Co. KG. The two businesses will form a subsidiary of Photonamic, called SBI ALApharma Canada.

“MolecuLight said the acquisition means that its core technology will be further expanded globally to a new market and could become a standard of care.”

MolecuLight, which develops fluorescence-guided imaging technologies for health applications, has previously collaborated with Photonamic in oncology, combining MolecuLight ́s proprietary fluorescence imaging technology with Photonamic ́s 5-ALA contrast agent. Rob Sandler, chief marketing officer of MolecuLight, told BetaKit the deal will provide revenue as well as a return to MolecuLight’s investors on “the fundamental technology and its commercial and clinical utility in other markets.”

“We are thrilled to announce the acquisition of our clinical oncology business by such a valued and strategic partner as Photonamic,” said Anil Amlani, MolecuLigh..

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