Let’s file this under “better late than never”. A belated congratulation to our good friend, Mark Usher, one of the two “Marks” at Wellington Financial LP on the completion of their latest Canadian funding, a $14 million growth financing for Waterloo-based Dejero Labs.
Founded in 2008, Dejero has become a market leader in the remote acquisition, cloud management, and multiscreen distribution of professional live video over IP. Dejero’s centrally managed LIVE+ range of products have changed the broadcasting landscape, allowing video journalists to record and transmit live, from the scene of the action, using wireless uplink solutions and its patent-pending Intelligent Connection Management system. The company’s customers include ABC, CBC, CBS, CTV/Bell Media, Fox, NBC, and Rogers Media.
In total, the company has completed three rounds of financing for a total of ~$18.5 million beginning with the MaRs Investment Accelerator Fund (December 2009), followed by a $4.5 million round with Best Funds in May 2014 and finally, Wellington’s $14 million investment in February 2017. Dejero management plans to use the Wellington investment to expand to the EMEA and APAC regions in 2017.
Wellington Financial LP is a privately-held specialty finance firm providing term, venture and amortizing loans from $2 million to $40 million to Canadian and US technology companies.
Wellington currently manages a $900 million investment program and its latest fund, Fund V, launched on October 1, 2015 has committed or closed $207.4 million to 16 companies.
Importantly from our perspective, Wellington has closed $51.4 million of Canadian transactions over the past 18 months to five companies:
- FinCad, a Vancouver-based technology company providing risk analytics and risk management software for valuation and pricing of derivatives including swaps, options, and futures.
- CareWorx, an Ottawa-based top 100 Global Managed Service Provider targeted at the senior care market with over 4,000 facilities operating over 60,000 CareWorx touchscreens for their daily electronic health record (EHR) documentation.
- Acquisio, a Montreal-based software platform that facilitates customer acquisition using ad platforms such as Google AdWords, Facebook Ads, and Bing Ads.
- Exinda, a Toronto-based provider of network orchestration solutions that helps IT teams from over 4,000 worldwide organizations manage the way users, traffic, devices and applications behave across their networks.
- Dejero Labs, a Waterloo-based technology company that simplifies the remote acquisition, cloud management, and multiscreen distribution of professional live video over IP.
|Date of Announcement||2/10/2017|
|Headline||Dejero Labs raises $14M from Wellington Financial LP|
|Sector||Broadcast, Video Streaming, Mobile|
|Company Location||Waterloo, Ontario|
|Transaction Amount (reported)||$14M|
|Amount Invested||$18.5M||3 Rounds|
|Key Investors||Wellington LP, Best Funds, HNW|
|Press Release||Wellington Fund|
|For more data||Click Here|