L-SPARK

L-SPARK Corporation is an accelerator and incubator based in Ontario, Canada, focused on investing in B2B startups, particularly in the cloud computing software and SaaS sectors. Established in 2014, L-SPARK selects up to eight startups every six months for its incubator program, providing funding, mentoring, and various support services valued at approximately $40,000 at no cost. Startups can receive initial investments and additional funding upon graduation, with a focus on helping them secure further investments. The firm also operates an accelerator program for post-incubator companies, where selected startups receive equity funding and further financial support based on performance. L-SPARK aims to foster significant revenue growth and facilitate access to venture capital and investment opportunities. Additionally, it collaborates with corporate partners to drive innovation in areas such as autonomous vehicles and secure IoT solutions. With a successful track record, over 50% of the companies accelerated by L-SPARK have raised follow-on funding, totaling more than $45 million.

Past deals in Canada

Deeplite

Non Equity Assistance in 2022
Deeplite is a Montreal-based company that specializes in AI-driven optimization software for deep neural networks (DNNs) designed for deployment on both cloud servers and edge devices. The company's flagship product, Neutrino, utilizes a unique multi-objective design space exploration approach to automatically optimize DNN models, making them smaller, faster, and more energy-efficient. This technology addresses the challenges associated with deploying deep learning models on limited hardware, ensuring that they can operate effectively in real-time applications without compromising performance or battery life. Deeplite's solutions cater to various sectors, including automotive, smartphones, smart cameras, and IoT devices, ultimately enabling the integration of advanced AI capabilities into everyday technology.

Nexxt Intelligence

Non Equity Assistance in 2021
Nexxt Intelligence, based in Toronto, Canada, specializes in AI-driven market research. Its core product is a conversational AI platform designed to enhance participant engagement and provide more profound insights for researchers. This platform employs natural conversation flows and probing techniques to gather richer data, helping researchers better understand consumer preferences and behaviors.

Thrive Career Wellness Platform

Non Equity Assistance in 2021
Thrive is a digital Human Resources SaaS that is offered for employers and HR firms to manage employee offboarding, furlough, working notices or internal redeployment through a mix of comprehensive job search management (JSM) tools, supplemented by a customizable marketplace of 3rd party service providers. The Job Search Management tools were developed through the organization's sister CareerJSM (www.careerjsm.com) product. The third-party service providers range from Thrive's partnerships with leading HR agencies offering career services and coaching, to upskilling through leading e-learning platforms like Linkedin Learning, EdX, Pluralsight and Codecademy, to personal wellness (mental health counselling, health insurance), entrepreneurship (incorporation legal tech & coaching),, to personal branding (photography, graphic design, websites). Users can purchase these services through deposits by their employers. This unique approach allows Thrive to support all employers and job functions within organizations while creating a superior user experience. Customers include SMEs and Fortune 500s like Walmart, Scotiabank and Lowe's. Thrive's software tools are also deployed by governments and not-for-profit sector employment service providers for job seekers. With successful deployment in the Canadian and Australian markets, Thrive is actively seeking HR Agency partnerships in Europe and North America.

HelpWear

Venture Round in 2020
HelpWear develops a waterproof wearable device that monitors heart activity, detects heart attacks, and sends real-time alerts to medical facilities. Incorporated in 2015, the company is based in Toronto, Canada.

Qidni Labs

Venture Round in 2020
Qidni Labs develops innovative renal replacement therapies. Based in Kitchener, Canada, the company focuses on creating portable dialysis technologies that are nearly waterless and battery-powered, aiming to enhance accessibility for kidney failure patients worldwide.

Reshift security

Seed Round in 2020
Reshift Security Inc. is a Canadian company located in Nepean that focuses on developing secure software solutions for organizations. The company specializes in designing, implementing, and deploying software that enhances security measures, ensuring that clients can protect their data and systems effectively. With a dedicated team of software developers, Reshift Security aims to address the growing need for cybersecurity in an increasingly digital world.

Deeplite

Non Equity Assistance in 2019
Deeplite is a Montreal-based company that specializes in AI-driven optimization software for deep neural networks (DNNs) designed for deployment on both cloud servers and edge devices. The company's flagship product, Neutrino, utilizes a unique multi-objective design space exploration approach to automatically optimize DNN models, making them smaller, faster, and more energy-efficient. This technology addresses the challenges associated with deploying deep learning models on limited hardware, ensuring that they can operate effectively in real-time applications without compromising performance or battery life. Deeplite's solutions cater to various sectors, including automotive, smartphones, smart cameras, and IoT devices, ultimately enabling the integration of advanced AI capabilities into everyday technology.

Preteckt

Non Equity Assistance in 2019
Preteckt provides a cloud-based platform that analyzes real-time automotive sensor data to predict maintenance needs and prescribe repairs for connected and autonomous vehicles and fleets. The platform leverages proprietary AI, deep learning, and machine learning to handle automotive data and deliver vehicle prognostics-as-a-service to fleets, municipalities, telematics providers, and OEMs. Its architecture supports rapid real-time processing and scalable deployment with existing vehicles and fleets, aiming to reduce maintenance costs, improve technician efficiency, and minimize downtime by identifying issues early and recommending appropriate repairs.

Reshift security

Non Equity Assistance in 2019
Reshift Security Inc. is a Canadian company located in Nepean that focuses on developing secure software solutions for organizations. The company specializes in designing, implementing, and deploying software that enhances security measures, ensuring that clients can protect their data and systems effectively. With a dedicated team of software developers, Reshift Security aims to address the growing need for cybersecurity in an increasingly digital world.

Flosonics Medical

Non Equity Assistance in 2019
Flosonics Medical is a Canadian medical device company founded in 2017, specializing in the development of non-invasive sensors aimed at enhancing the management of critically ill patients. Its flagship product, the FloPatch, is a wearable ultrasound sensor designed to monitor blood flow in patients post-clinical intervention, thereby addressing critical clinical needs. The FloPatch is particularly beneficial for healthcare professionals, including physicians, nurses, and paramedics, operating in various high-pressure environments such as ambulances, emergency departments, operating rooms, and intensive care units. The device is notable for its portability, wireless connectivity with tablets and other medical equipment, and user-friendly functionality, all of which contribute to improved patient care in urgent medical situations. Flosonics Medical, previously known as Ke2 Technologies, rebranded in September 2017.

Soltare

Non Equity Assistance in 2019
Soltare is an automotive sensor design company focused on advancing vehicle safety through sensor-based technology. Founded in 2014 in Alberta, Soltare brings together experts in design, manufacturing, and high-tech product development to create systems that enhance safety in current automobiles and lay the groundwork for autonomous vehicle applications. Its solutions include sensor-based safety systems that provide automatic detection and directional identification of approaching emergency vehicles, reducing reliance on manual awareness and contributing to safer driving environments.

Martello Technologies Group

Non Equity Assistance in 2018
Martello Technologies Group is a Canadian company headquartered in Ottawa that develops and sells software solutions designed to optimize the performance of real‑time applications across cloud and enterprise networks. Its product portfolio includes Mitel Performance Analytics, which monitors the status and performance of Mitel and third‑party systems; Martello Gizmo, which measures, alerts, and reports on Microsoft 365 user experience; Martello iQ, a service‑monitoring and analytics platform; Live Maps, a Windows authentication troubleshooting tool; and Vantage DX, a SaaS‑based digital experience management solution for collaboration services such as Microsoft 365, Teams, and Zoom. The company also offers unified communications testing, SD‑WAN, and technical support and training services. Martello serves a range of sectors—including education, government, healthcare, professional services, remote work, and service providers—both in Canada and internationally. Founded in 1981, the firm focuses on delivering proactive network performance management that detects and resolves issues before they impact service quality.

Soltare

Pre Seed Round in 2018
Soltare is an automotive sensor design company focused on advancing vehicle safety through sensor-based technology. Founded in 2014 in Alberta, Soltare brings together experts in design, manufacturing, and high-tech product development to create systems that enhance safety in current automobiles and lay the groundwork for autonomous vehicle applications. Its solutions include sensor-based safety systems that provide automatic detection and directional identification of approaching emergency vehicles, reducing reliance on manual awareness and contributing to safer driving environments.

Acerta Analytics

Non Equity Assistance in 2018
Acerta Analytics Inc. specializes in machine intelligence solutions that analyze raw machine data to facilitate informed decision-making, particularly in the automotive sector. The company's flagship product, Acerta CHECK, employs statistical methods, data mining algorithms, and machine learning techniques to identify critical issues and anomalies in machine behavior. By assisting automotive manufacturers, including original equipment manufacturers and parts suppliers, Acerta helps improve quality control, reduce defects, and accelerate the market readiness of complex products. Additionally, the company's technology is applicable in aerospace for aircraft health management. Acerta's analytics platform empowers manufacturers to detect early signs of potential product failures, enhance root cause analysis, minimize scrap and rework, and continuously refine their processes. Founded in 2014 and based in Waterloo, Canada, Acerta is committed to transforming quality control through advanced artificial intelligence.

Heyday AI

Pre Seed Round in 2018
Heyday Technologies Inc. specializes in developing a conversational artificial intelligence and messaging application tailored for e-commerce and retail brands. Founded in 2017 and based in Montreal, Canada, the company offers a product that facilitates seamless communication between sales and support teams and their AI assistant. Heyday’s application connects with customers, managing chat interactions to enhance the overall customer experience. By leveraging Conversational AI, Heyday enables retailers to provide instant, personalized service at scale, transforming how businesses engage with their clientele. The company's solutions are particularly beneficial for industries such as sporting goods, cosmetics, and furniture, where delivering a VIP experience to every customer is a priority.

Cybeats Technologies

Non Equity Assistance in 2017
Cybeats Technologies Inc. is a Canadian company specializing in cybersecurity solutions for Internet of Things (IoT) devices. Founded in 2016 and based in Aurora, the company provides advanced software that acts as an immune system for IoT devices, safeguarding them against a range of threats, both known and unknown. Its flagship products include SBOM Studio, which enables organizations to manage and document third-party software components, and RDSP IoT Security, an integrated platform designed to secure connected devices throughout their lifecycle. By focusing on software supply chain intelligence, Cybeats helps organizations mitigate risks, ensure compliance, and maintain robust security from the procurement stage through development and operational use.

Eyesover

Non Equity Assistance in 2017
Eyesover, established in 2015 and based in Fredericton, New Brunswick, Canada, specializes in real-time online public opinion analysis. The company employs AI technology to monitor and interpret relevant discussions across the web, enabling clients to promptly identify and address potential issues or trends that could impact their industry or brand reputation. Unlike traditional methods, Eyesover's platform goes beyond keyword searches, uncovering and measuring topics that might otherwise go unnoticed. This proactive approach helps businesses mitigate crises and maintain a positive public image.

iamsick.ca

Seed Round in 2017
iamsick.ca operates a digital health platform that maintains Canada's most comprehensive registry of patient-centered information about healthcare facilities and providers to improve coordination of care. The service helps patients find healthcare services, book appointments online through an EMR-integrated booking solution, check wait times, and receive appointment notifications. Access is provided via multiple websites, mobile apps, and partner applications. The platform also offers a back-end analytics solution to assist regional healthcare resource management, care coordination, patient routing, and health system planning.

EnergyX Solutions

Non Equity Assistance in 2017
Founded in 2016, EnergyX Solutions specializes in energy management software. Its platform, MyEnergyXpert, enables utilities and retailers to engage customers in energy efficiency programs through automated personalized conversations and AI-based recommendations. The company aims to reduce global greenhouse gas emissions by digitizing energy efficiency solutions.

Heyday AI

Non Equity Assistance in 2017
Heyday Technologies Inc. specializes in developing a conversational artificial intelligence and messaging application tailored for e-commerce and retail brands. Founded in 2017 and based in Montreal, Canada, the company offers a product that facilitates seamless communication between sales and support teams and their AI assistant. Heyday’s application connects with customers, managing chat interactions to enhance the overall customer experience. By leveraging Conversational AI, Heyday enables retailers to provide instant, personalized service at scale, transforming how businesses engage with their clientele. The company's solutions are particularly beneficial for industries such as sporting goods, cosmetics, and furniture, where delivering a VIP experience to every customer is a priority.

Member365

Seed Round in 2017
Member365 Inc. is an Ottawa-based company that specializes in providing an online membership management software platform tailored for member-based organizations. Established in 2016, it offers a comprehensive suite of features, including committee management, contact records, continuing education, email marketing, event management, financial management, and fundraising. The platform is designed to automate everyday data-driven tasks, thereby enhancing member engagement and facilitating membership growth. As a subsidiary of Pixelera Inc., Member365 leverages the technological expertise of its parent company, which is recognized for its work in eLearning, database development, interactive media, and web design.

PropertySpark

Pre Seed Round in 2017
PropertySpark Inc. is a Canadian company based in Brampton that operates a social media advertising platform tailored for real estate professionals. Founded in 2016, it provides a software application that allows realtors to create and publish ads and content across social media channels, including Facebook. The platform is designed to assist brokerages, virtual tour providers, and real estate marketing companies in reaching potential homebuyers effectively. By leveraging proprietary data, PropertySpark enables users to target specific audiences who have shown interest in real estate, thereby optimizing their advertising efforts while remaining budget-friendly.

EnergyX Solutions

Pre Seed Round in 2017
Founded in 2016, EnergyX Solutions specializes in energy management software. Its platform, MyEnergyXpert, enables utilities and retailers to engage customers in energy efficiency programs through automated personalized conversations and AI-based recommendations. The company aims to reduce global greenhouse gas emissions by digitizing energy efficiency solutions.

Optimity

Non Equity Assistance in 2016
Optimity Inc. is a Toronto-based company that operates a corporate wellness platform designed to enhance employee engagement through the practice of micro-habits. The platform encourages users to take short breaks ranging from 30 seconds to two minutes to engage in activities that improve their mood, focus, and social connections. It offers a diverse range of micro-habits, including stress-relief exercises, stretches, mindfulness practices, and wellness tips related to nutrition and financial health. Targeting a wide array of professionals, from office workers to retail employees and traveling sales associates, Optimity provides tools that promote proactive health coaching and support. Additionally, its proprietary Optimity Health Grade utilizes wearable data to assess key health factors, offering personalized programs to improve health outcomes and modernize the insurance industry. Through its technology solutions, Optimity helps clients in the insurance and health sectors engage and reward their members and employees for adopting healthy habits.

Member365

Non Equity Assistance in 2016
Member365 Inc. is an Ottawa-based company that specializes in providing an online membership management software platform tailored for member-based organizations. Established in 2016, it offers a comprehensive suite of features, including committee management, contact records, continuing education, email marketing, event management, financial management, and fundraising. The platform is designed to automate everyday data-driven tasks, thereby enhancing member engagement and facilitating membership growth. As a subsidiary of Pixelera Inc., Member365 leverages the technological expertise of its parent company, which is recognized for its work in eLearning, database development, interactive media, and web design.

Buildmetric

Non Equity Assistance in 2016
Buildmetric Inc. is a Canadian company specializing in construction management software tailored for home builders. Founded in 2014 and based in Ottawa, Buildmetric focuses on optimizing workflow for the construction industry by providing tools that enable project managers to identify defects at construction sites, assign tasks to trades, and report on real-time project progress. The platform features a deficiency management system that streamlines the warranty process and offers comprehensive analytics, helping clients mitigate financial risks linked to construction defects while enhancing overall quality and productivity. The leadership team, including co-founder and CEO Philip Tabet, brings extensive experience in construction management and software development, ensuring that Buildmetric delivers user-friendly solutions that foster collaboration across all levels of a builder's organization.

Qarrot Performance

Pre Seed Round in 2016
Founded in 2012, Qarrot Performance operates a SaaS platform designed to motivate, train, and communicate with front-line sales teams in retail and franchises. Its platform enables users to launch campaigns and engage with franchisees and staff, aiming to improve performance and drive business results.

EssayJack

Pre Seed Round in 2016
EssayJack Inc. is a Toronto-based company that operates an interactive web platform designed to assist students in essay writing by pre-structuring their work and reducing writing anxiety. The platform enables educators to customize and provide feedback, allowing them to create personalized tips, prompts, and transitions. It also facilitates tools for teaching essay and reverse outlining, identifying common errors in drafts, and evaluating student submissions. Additionally, EssayJack offers resources for professional development, including workshops and custom templates. Recognized as a leading teaching innovation by the British Council and Cambridge English, the platform serves a diverse clientele both in Canada and internationally, aiming to enhance the writing skills of students and support educators and tutors in their instructional roles. Originally known as LLRB Holdings Inc., the company rebranded to EssayJack Inc. in June 2015 and has been operating since its incorporation in 2011.

TitanFile

Seed Round in 2016
Founded in 2011, TitanFile develops a cloud-based enterprise file sharing solution that enables professionals across industries such as accounting, healthcare, legal, and manufacturing to securely exchange files. Its platform automatically organizes messages and documents around clients or projects, reducing filing overhead and increasing productivity.

InvataCloud

Pre Seed Round in 2015
InvataCloud, based in Ottawa, Canada, specializes in managed hosting for Adobe Connect, a platform used for virtual classrooms, webinars, and meetings. The company supports learning management systems and offers solutions tailored to higher education, government, and commercial clients. For educational institutions, InvataCloud provides tools to manage live registration, curriculum setup, online classes, and course materials. Government clients benefit from collaboration, hosting, and presentation capabilities directly from various devices, including mobile. Commercial clients also utilize their services. The company is an official Adobe Solutions Provider and partners with Microsoft, Desire2Learn, and Blackboard. InvataCloud's team manages hosted environments around the clock and offers personalized assistance for infrastructure setup.

Punchtime

Pre Seed Round in 2015
Punchtime develops a mobile-based time-tracking solution for employees and contractors to capture work time, location, tasks and projects. Based in Ottawa, Canada. The product uses location awareness to monitor where work is performed, enabling accurate time records and payroll, and can help protect remote workers while improving productivity and reducing costs. The company focuses on simplifying time-tracking to improve workforce management and worksite operations, aiming for smart, scalable solutions for enterprises in Canada and global markets.

Cliniconex

Non Equity Assistance in 2015
Cliniconex Inc. is a Canadian company based in Ottawa, established in 2009, that specializes in enhancing communication workflows for family and specialty clinics. The company offers a range of solutions, including appointment reminders via voice, email, and text, along with customizable templates and patient education tools. Cliniconex's platform focuses on automating outreach processes such as booking notifications, reminders, cancellations, and surveys, thereby improving patient engagement and streamlining the management of pre- and post-visit communications. The company's approach emphasizes personalized and manageable interactions, allowing healthcare providers to deliver tailored patient care and enhance health education effectively.

LevelJump

Pre Seed Round in 2015
LevelJump Software is a Toronto-based company founded in 2014 that specializes in developing a video software-as-a-service platform aimed at enhancing the onboarding and training processes for sales teams, particularly in high-growth SaaS environments. The platform enables organizations to create scalable and consistent onboarding programs, aligning training with sales outcomes within their customer relationship management systems. LevelJump's solutions help reduce the ramp-up time for new sales hires by facilitating the capture, curation, and delivery of bite-sized peer-to-peer training videos. Additionally, the software provides tools for real-time analytics and insights, allowing sales enablement managers to measure program effectiveness and link training initiatives to revenue metrics. The company's focus on innovative product development and customer service positions it as a valuable partner for organizations seeking to maximize sales productivity and drive revenue growth.

BidFoundry

Pre Seed Round in 2014
BidFoundry Inc. is a Canadian company that specializes in developing software solutions for stamp dealers and other collectible markets. Founded in 2013 and based in Kanata, Ontario, BidFoundry offers an integrated online retail and auction platform that connects qualified buyers with trusted dealers and auction firms. The platform provides a comprehensive back-end system to streamline the sales and auction processes, including inventory listing, live auction management, payment processing, and customer management. Through these services, BidFoundry enables professional dealers to effectively manage and expand their businesses in the collectibles market.

Bluink

Pre Seed Round in 2011
Founded in 2010, Bluink Ltd. specializes in identity and access management solutions. It offers consumer and enterprise products like bluink key (password manager & FIDO U2F device) and bluink enterprise (secure IAM solution). Products are sold online.
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