Hootsuite, the Vancouver-based social media management company, announced it will be making its tenth acquisition since its founding in 2008. The company plans to buy Sales Prodigy, a mobile app that assists corporate clients with their sales efforts by monitoring the social media activities of their sales leads.
Sales Prodigy is also based in Vancouver and was founded in 2014. It does not appear to have raised any significant growth capital. Terms of the transaction were not disclosed.
Hootsuite is one of the best known and most highly regarded Canadian tech companies these days. It has raised almost $250 million in growth capital from some of the largest and most infuential VC funds in the US and Canada. It is nice to see that it has been deploying some of this capital towards acquisitions, especially considering at least half of the companies it has acquired have been Canadian.
To learn more, click here.
Elastic Path, a Vancouver-based customer experience software company, has raised an additional $10 million in venture capital funding from Yaletown Venture Partners and BDC Venture Capital IT Fund. The company had previously raised over $14 million in a combination of private equity, venture capital, and debt financing. It offers a commerce integration platform – delivered through the Adobe Marketing Cloud platform – to over 200 enterprise customers around the world and has a current headcount of over 130 employees.
To read more about this transaction, click here.
Hollywood North Indeed
Many Canadians have become accustomed to living in places that can often feel like Hollywood studio lots. If you live in Toronto or Vancouver, walking down a street lined with trucks, trailers, caterers, and the other trappings of a film shoot is a common occurrence. Movies, television shows, and commercials seem to be constantly filming in our streets, parks, office buildings, restaurants, alleyways, and a variety of other random locations.
Here in Toronto, the historic Royal York hotel sits right between the Q1 Capital office and Union Station – which I use to get to and from work every day – and it is so frequently being used as a film shoot or a staging area for a production taking place nearby that it has become more of an inconvenience than a curiosity or reason to stop and gawk at celebrities. I once even tried to get into a taxi parked outside the hotel before realizing that it was a prop vehicle decked out to resemble a New York City cab. (more…)