New investors La Caisse, Fidelity Investments Canada, Picton Investments and Endeavor Catalyst joined the round, with participation from existing investors including Portage, Diagram and NAventures, National Bank’s venture arm. Nesto, which operates a digital mortgage lending platform, plans to use the money to develop its technology, including AI capabilities. (The Logic)
The software company, which provides data validation and compliance software to pharmaceutical manufacturers, said Monday it had agreed to be acquired by the Chicago-based private equity firm, almost five years after first being listed on the TSX. (The Logic)
The database-management software company may begin raising another investment round within the next month, The Information reported. It was last valued at US$134-billion after it raised a US$7-billion round in February. (The Information)
The Gordie Howe International Bridge will open to traffic within the coming days, Prime Minister Mark Carney confirmed on Tuesday, despite a late-stage threat by U.S. President Donald Trump to block the opening of the crossing, a rival to the privately owned Ambassador Bridge. (The Logic)
Peel Regional Police charged Geoffrey Wall with fraud following “Project Icarus,” a four-month criminal investigation. Records indicate Wall possessed a commercial pilot’s licence, but not the necessary accreditation to operate aircraft as a captain, including the Boeing 777, the largest aircraft in the company’s fleet. (The Logic)
The company is spending US$115 million for the first year of America’s Workforce Academy, a five-week program to train workers in the skilled trades needed in data-centre construction. Meta is partnering with CBRE on the initiative, which will begin in Louisiana, Ohio, Indiana and Texas this year. The program is free for participants, who are guaranteed a job once they graduate. (The Logic, The Wall Street Journal)
General Catalyst and HarbourVest led the Series C round for the Toronto-headquartered company. Other investors included Intrepid Growth Partners. Beacon has also hired former Superhuman and Instacart CTO Mark Schaaf as its new chief operating and product officer, and former AngelList CTO Goutham Buchi as its own CTO. (The Logic)
The provincial government has signed a non-binding agreement to test the Toronto-headquartered firm’s technology for administrative applications, to improve efficiency and service delivery. Quebec isn’t making any specific contract commitments under the deal. (The Logic)
Total merchandise exports grew 1.6 per cent over March to reach a record high of $75.2 billion, Statistics Canada reported Tuesday. That was driven by a seven per cent increase in exports of crude oil, which the agency linked to rising prices fuelled by the U.S.-Israeli war on Iran. (The Logic)
S&P Dow Jones Indices said late Friday that it would remove the Mississauga-based subprime lender from the S&P/TSX Composite Index before the open of trading on June 22, alongside several other companies, including Pet Valu. The index provider did not provide a reason for the changes. (The Logic)