The deal, led by Spark Capital and participation from Tiger Global, values the Toronto-based company at $1.2 billion. Other participants in the round include existing investors Accel, Bessemer, FirstMark, Version One and Burst Capital. (The Logic)

Talking point: Ada raised a US$44-million round in March 2020. Since then, the company said its business has grown substantially, as work and life shifts more online and platforms look for ways to automate more of their customer service. Clients for Ada’s conversational AI include Zoom, Facebook and Square. Montreal-based HeyDay is another chatbot company that’s gaining steam in the sector. It raised $6.5 million in March and was recently selected to participate in the Canadian Technology Accelerator program in Silicon Valley. Ada plans to use the new financing to grow its headcount. It has job openings across the country, as well as in Manila, New York, Atlanta and Poland.