Wellington Financial completed a $14 million financing for Waterloo-based Dejero Labs

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.

For more transaction details, please click here

Posted in: PE/VC News

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