Covington Funds

Covington Funds is a venture capital investment firm that focuses on supporting the growth and success of entrepreneurs. It is a labor sponsored investment fund, specializing in investments in start-up, early, mid venture, late venture, expansion, later stage, and close to IPO stages. It also makes fund investments. The fund prefers to invest in traditional industries, technology including business-to-business and e-commerce software, life sciences, bio sciences, biotechnology, entertainment, and retail, including internet retail, health sciences, financial services, and manufacturing sectors. Covington Funds is a Canada-based company.

Scott Clark

Managing Partner

Lily Lam

VP Investment

8 past transactions

Masstech Group

Acquisition in 2015
Masstech Group is a video workflow solution to manage valuable digital media content and related information throughout its lifecycle. It develops enterprise-level file-based video workflow solutions for television production, broadcast, and channel origination operations. Its solutions provide a framework for media lifecycle content management, business continuity, and disaster recovery applications, and broadcast monitoring solutions for compliance recording. The company offers MassStore WAM Suite, a workflow-based asset management platform, which allows for configurable automated processes, including file-based ingest, tape digitization, instream transcoding, production and news integration, business continuity, content delivery/distribution, and portal connectivity; MassChannel, a broadcast playout/automation appliance to deploy new channels, manage multicast programming, or provide business continuity for DR applications; and MassLogger, an appliance for professional broadcast monitoring. Its MassStore WAM Suite comprises M-Ingest that ingests content into the MassStore WAM suite content repository and moves it to shared folders, video servers, catch servers, NLE systems, and live to ingest or playout devices; SAvI, which provides direct access from within the Avid environment to the MassStore WAM Suite of products; M-Connect that allows transferring the content in and out of the final cut studio from any format without going to tape; MassBrowse, an offline media preparation tool, which works with low-resolution proxies or full bandwidth video files; and N-Connect that allows users to search and preview archived content within the MassStore WAM Suite and bring the content to the desired location directly from the news interface. Masstech Group also provides a content repository, data movement, content transformation, and archive management services. The company was founded in 2001 and is based in Richmond Hill, Canada. Masstech Group Inc. operates as a subsidiary of 1293551 Ontario Inc.

Fusebill

Seed Round in 2013
Fusebill simplifies subscription and billing management by automating many manual accounting and financial processes and workflows. Our cloud-based platform gives companies the freedom to grow their businesses, the flexibility to capitalize on new product opportunities, and the agility to maintain a competitive edge. Fusebill is backed by private investors and institutional investors including OMERS Ventures and Covington Funds.

Embotics

Series C in 2012
Embotics® is a global software company that develops and markets Embotics vCommanderTM, a Virtualization and Cloud Management Platform (CMP) that empowers businesses to leverage a comprehensive set of multi-hypervisor virtualization and cloud management capabilities. Embotics vCommander is an easy-to-use, integrated CMP with the fastest time-to-value in the industry—it can be implemented within one hour. It allows mid-sized to large IT organizations to deliver IT-as-a-Service (ITaaS) while continuously monitoring the virtual data center to optimize the automation, deployment and configuration of IT services within private, public and hybrid clouds. After more than seven years in business and hundreds of deployments, Embotics’ patented software has proven itself to be stable, scalable and mature—it enables a pragmatic approach to cloud computing that delivers an immediate ROI. Embotics is headquartered in Ottawa, Canada, with offices in the US and Europe, it also has a growing network of global partners.

Fusebill

Seed Round in 2012
Fusebill simplifies subscription and billing management by automating many manual accounting and financial processes and workflows. Our cloud-based platform gives companies the freedom to grow their businesses, the flexibility to capitalize on new product opportunities, and the agility to maintain a competitive edge. Fusebill is backed by private investors and institutional investors including OMERS Ventures and Covington Funds.

Azelon Pharmaceuticals

Series A in 2011
Azelon Pharmaceuticals, formerly Zelos Therapeutics, a West Conshohocken, PA-based company focused on the development of novel formulations for the treatment of osteoporosis.

EnerWorks

Venture Round in 2006
EnerWorks is a North American solar thermal technology provider With proven, patented technology and certified systems, EnerWorks offers high quality, reliable, and cost-effective renewable energy solutions to the North American and Caribbean markets. EnerWorks develops and manufactures proprietary renewable energy appliances for residential, commercial, and industrial markets. EnerWorks is at the forefront of integrated solar thermal solutions, working with local partners to design, install, commission, and maintain solar thermal heating and cooling systems.

Castek

Series C in 2002
Castek is an enterprise software company, specializing in core-business processing systems for large and mid-size property and casualty insurance carriers. Recognized for the advanced architecture and flexibility of its products, Castek provides insurance carriers with a suite of flexible and scaleable business processing systems for insurance product and process configuration, policy administration, customer management, billing and claims management. With their partners at i-flex solutions, Castek is offering a strategic, "best of breed" product solution, built on modern architecture and technology, with a pristine implementation track record backing up the strategy. Their intention is to not only support insurance carriers in terms of their "business as usual" operating requirements, but also provide the flexibility of allowing carriers to rapidly grow their businesses, enter new markets, and bring new products to market in a true customer-centered business model. Ultimately, it would allow carriers to change their competitive position very effectively with the new scope of offerings and level of service that could be offered to distribution channels and customers. With Castek's award-winning, flagship software platform, Insure3(pronounced “Insure cubed”), an insurer can transform their business and: • Rapidly enter new market segments and introduce new products, as a result of the extensive product and process configuration capabilities that are built into the platform; • Offer web-based, self-service initiatives, in real-time, to agents and even customers across any desired portion of the entire business life cycle (quote, new business, endorsements, renewals etc.); • Re-engineer policy-centric business models into one which is centered on customers; • Materially reduce operational and IT costs by consolidating all lines of business and all products across the entire business life cycle onto one operational platform; • Achieve scalability and access to the "best of breed" solutions, as a result of the modern architectural principles and industry standards (eg. SOA, Web services and ACORD XML) that are embedded in the Insure3 platform;) • Achieve reduced implementation risk and very rapid ROI, as a result of Castek's investment into pre-configuring standard industry products and processes, and pre-integrating with other best of breed product partner solutions. Castek is headquartered in Toronto, Ontario, Canada with activities and partners spanning the USA, Canada, Europe, South Africa, South Korea and China."

Bridgewater Systems

Series A in 1999
Bridgewater Systems, the leader in intelligent broadband controls, provides pre-integrated solutions for mobile and converged operators to transform their networks, optimize mobile data growth, and innovate with new services. The Bridgewater portfolio of carrier-grade products includes Service Controller (AAA), Policy Controller (PCRF) and Home Subscriber Server (HSS), anchored by a common identity and device management system. More than 150 leading service providers worldwide leverage Bridgewater to create and deliver profitable services to consumer, enterprise, cloud and machine markets.
Spot something off? Help us improve by flagging any incorrect or outdated information. Just email us at support@teaserclub.com. Your feedback is most welcome.