longmia@halifax.ca

MindBridge Analytics Inc (MineBridge Ai), an Ottawa-based auditing software platform, has raised $15.1 million in follow-on financing, according to a report by the Globe and Mail. The round was led by U.S. business software venture capital firm PeakSpan Capital, the report said. It was joined by Real Ventures, Reciprocal Ventures, National Bank of Canada and The Group Ventures, all of which invested in last year's $8.4 million Series A financing. MindBridge Ai will also receive $14.5 million from Ottawa's Strategic Innovation Fund, the report said. Founded in 2015 by CEO Eli Fathi and CSO Solon Angel, MindBridge Ai uses artificial intelligence and machine learning to help auditors uncover errors and misstatements in financial data.

H&R Block Inc (NYSE: HRB) has agreed to acquire Wave Financial, a Toronto-based provider of financial management software to small businesses. The deal, expected to close in the next few months, will see H&R Block pay about $537 million (US$405 million) in cash. Founded in 2010 and led by CEO Kirk Simpson, Wave provides accounting, invoicing, payroll and payments solutions, as well as bookkeeping services, to more than 400,000 small businesses every month. H&R Block, a Kansas City, Missouri-based tax preparation business, said the deal will enhance its position in the small business market. Wave has raised more than $100 million in venture capital financing, including a $32 million round closed in 2017.

Georgian Partners is preparing to launch a fifth growth equity fund with a target of about $1 billion (US$750 million), according to a report by the Globe and Mail. Georgian recently announced its plans to existing limited partners, the report said. The Toronto-based firm closed Georgian Partners Growth Fund IV last year at its $715 million (US$550 million) hard cap. Founded in 2008 by Managing Partners John Berton, Simon Chong and Justin LaFayette, Georgian is well known in the market for its applied-analytics investment thesis, allied with a focus on applied artificial intelligence, conversational business, and security in software design.

Kitchener, Ontario-based wearable technology company North has raised about $54 million (US$40 million) in convertible debt financing, according to a report by the Globe and Mail. The money came from the company's existing investors Amazon Alexa Fund, Intel Capital and Fidelity Investments Canada, the report said. Formerly called Thalmic Labs, North in 2018 launched a line of augmented reality eyewear called Focals. The funds raised will support operations prior to a more significant round, potentially earmarked for a new version of the glasses, the report said. Founded in 2012, North's other investors include First Round Capital, Inovia Capital and Spark Capital.

PEI Media Group has acquired Buyouts Insider and its portfolio of subscription-led information platforms and event assets from Simplify Compliance LLC. Terms weren't disclosed. The acquired brands include Buyouts, Venture Capital Journal, PE Hub, PE Hub Canada, PartnerConnect events, Regulatory Compliance Watch and the Credit Union Leadership Convention. Based in London, PEI Media is an information and events provider to global private capital markets. PEI Media was acquired in 2018 by European private equity firm Bridgepoint Development Capital. Simplify Compliance is backed by Leeds Equity.

CIBC Innovation Banking has hired Elie Bou Daher and Corey Perlmutter as directors. Bou Daher joins CIBC's technology lending group from a Québec financial institution, where he was a technology and life sciences lender and underwriter. He will serve in the group's Montréal office. Perlmutter joins from Hercules Capital, where most recently he was an associate focused on healthcare and technology investing. He will serve in the office in Menlo Park. Last year, PE Hub Canada interviewed Mark McQueen, president and executive managing director of CIBC Innovation Banking, about the group's North American scaling strategy.

Influitive, a Toronto-based customer advocacy community platform provider, has raised $10 million in equity and debt financing. The deal was led by Canadian growth equity firm Georgian Partners and U.S. financial services firm Comerica Bank. They were joined by Relay Ventures and Export Development Canada. Founded in 2010, Influitive provides software and services to help businesses mobilize their advocates to accelerate sales and increase customer lifetime value. The funds raised will be used to invest in AdvocateHub, a customer advocacy community platform, and a pool of community managers and advocate marketers. Influitive will also expand its Canadian footprint to Halifax.

Elevate Security, a security behaviour platform with offices in Berkeley, California and Montréal, has raised US$8 million in a Series A financing. The round, which brings total funding to US$10 million, was led by Defy Partners and joined by Costanoa Ventures. Founded in 2017, Elevate's platform measures, motivates and rewards employee security behaviour changes in order to prevent breaches. It will use the funds raised in part to establish an engineering hub in Montréal. Elevate hired Jean-François Gailleur, formerly of AppDirect, to build out the team. The startup also plans to make key hires and accelerate its go-to-market strategy.

Fractal Systems Inc, a Calgary-based developer of partial upgrading technology solutions for bitumen producers, has received funding of up to $7.2 million from Sustainable Development Technology Canada (SDTC). The proceeds of SDTC's investment will facilitate the first commercial deployment of Fractal's Enhanced JetShear (EJS) technology. The EJS system helps oil sands companies reduce their environmental impact while at the same time realizing significant operating and transportation cost advantages. Founded in 2006, Fractal is backed by Rho Ventures, a U.S. venture capital firm.

Dark Slope Studios, a Toronto-based virtual and augmented reality (VR and AR) developer, has raised more than $1.5 million in a seed-stage financing. Steven DeNure, formerly president and COO of DHX Media, was the only disclosed investor. He will join the board. Founded last year by President CJ Hervey, COO Dan Fill, Technical Director Ben Unsworth and Executive Chair Raja Khanna, Dark Slope creates free-roam multiplayer content for the location-based entertainment market and enterprise customers. The seed round's proceeds will be used to launch Dark Slope's first VR offering, Scarygirl Mission Maybee, hire staff and advance its technology and product line.