Round13 Capital led the financing for the IT consulting firm, which is focused on AI projects. (The Logic)

Talking point: Formed last June, Lightworks helps clients modernize their technology systems, install new cloud software and adopt AI agents. Lightworks founder John Painter was previously a longtime executive at Sourced Group, another Toronto IT consultancy that Round13 backed, and which St. Louis-based Amdocs acquired in May 2021. Most of the funding flowing into the AI boom is going to companies building models, the infrastructure on which they run, or the applications that run on top of them. But many businesses are still struggling to turn their AI pilot projects into a regular part of their daily operations. That’s where the service layer comes in, helping clients to prepare their data and staff to use AI. The shift is opening up space for new tech consultancies in Canada—ad giant Publicis bought Montreal’s Moov AI last March, while Vooban has expanded from Quebec to Ontario.