Inovia Capital

Inovia Capital, established in 2007, is a venture capital firm headquartered in Montreal, Canada, with additional offices in Toronto, Calgary, San Francisco, and London. The firm invests in early and growth-stage tech companies, focusing on software, SaaS, and applied services that transform complex legacy industries. Inovia manages over US$2.2 billion and provides capital, mentorship, and access to global networks to support founders with ambitious, influential business ideas.

Rania Ajakane

Associate

Pascale Archambault

Vice President

Chris Arsenault

General Partner

Alex Behal

Vice President

Andrew Biddell

Associate

Charlotte Borgognoni

Associate

Steven Chung

Vice President

Simon Constantineau

Analyst

Etienne Gauthier

Associate

Patrick Ghoche

CFO

Raif Jacobs

Partner

Prem Kalevar

Vice President, Discovery Program

Dennis Kavelman

Partner

Phoebe Kitchen

Principal

Mia Morisset

Principal

Taha Mubashir

Principal

Noah Nagle

Associate

Karamdeep Nijjar

Partner

Gabi Piccininni

Associate

Jules Pichette

Associate

Steven G Woods

Partner and CTO

Hugues Lalancette

Partner

Past deals in Montreal

Flare

Series B in 2024
Flare is a proactive digital footprint monitoring solution for organizations. Its AI-driven technology constantly scans the online world, including the dark, deep, and clear web, to discover unknown events, automatically prioritize risks, and deliver actionable intelligence you can use instantly to improve security.

WorkJam

Series D in 2022
WorkJam, Inc. is a technology company that develops an employee engagement platform designed to enhance the relationship between employers and their front-line workforce. Founded in 2014 and headquartered in Montreal, Canada, with additional locations in Cincinnati, Ohio, and Melbourne, Australia, WorkJam offers a web and mobile app that can operate independently or be integrated with existing workforce management systems. The platform features tools for shift and task management, communication, training, and recognition, enabling shift-based, hourly, and non-desk workers to effectively manage their work life. By promoting agile scheduling and transformative communication, WorkJam empowers organizations in various sectors, including retail, healthcare, and manufacturing, to improve operational efficiency, labor cost management, and customer experience through a more engaged workforce. The company also has a strategic partnership with Digital Goodie to further enhance its offerings.

Flare

Series A in 2022
Flare is a proactive digital footprint monitoring solution for organizations. Its AI-driven technology constantly scans the online world, including the dark, deep, and clear web, to discover unknown events, automatically prioritize risks, and deliver actionable intelligence you can use instantly to improve security.

Talent.com

Series B in 2022
Talent.com is a platform that centralizes jobs available on companies'​ career websites, staffing agencies, or job boards. The company was founded in 2020 and is headquartered in Montreal, Quebec, Canada.

Hopper

Secondary Market in 2022
Hopper Inc. is a travel technology company based in Montreal, Canada, with additional offices in Cambridge, Massachusetts, New York, and Sofia, Bulgaria. Founded in 2007 by Frederic Lalonde and Joost Ouwerkerk, Hopper has developed a mobile application that leverages big data and predictive analytics to provide users with travel recommendations. The app specializes in analyzing and forecasting airfare and accommodations, enabling travelers to secure the best deals. Hopper notifies users when flight and hotel prices are anticipated to be at their lowest, allowing them to make informed decisions about their travel plans. The company's innovative platform aims to simplify the travel booking process, making it easier for users to plan and book their trips directly from their mobile devices.

Hopper

Series F in 2021
Hopper Inc. is a travel technology company based in Montreal, Canada, with additional offices in Cambridge, Massachusetts, New York, and Sofia, Bulgaria. Founded in 2007 by Frederic Lalonde and Joost Ouwerkerk, Hopper has developed a mobile application that leverages big data and predictive analytics to provide users with travel recommendations. The app specializes in analyzing and forecasting airfare and accommodations, enabling travelers to secure the best deals. Hopper notifies users when flight and hotel prices are anticipated to be at their lowest, allowing them to make informed decisions about their travel plans. The company's innovative platform aims to simplify the travel booking process, making it easier for users to plan and book their trips directly from their mobile devices.

Livescale

Seed Round in 2021
Livescale is a live shopping platform based in Montreal, Canada, founded by Virgile Ollivier. The company specializes in enhancing audience engagement and sales conversion for e-commerce businesses through its innovative technology. Livescale enables brands to create immersive and seamless shopping experiences by utilizing shoppable live video. This approach not only fosters community building but also allows businesses to manage the entire shopping experience in-house. With features like integrated checkout and comprehensive client resources, Livescale stands out in the global market, providing brands with the tools needed to optimize revenue, expand market reach, and improve client relations.

Busbud

Series C in 2020
Busbud, Inc. offers an online platform for booking intercity bus travel, enabling users to search, compare, and purchase tickets across various destinations in Canada and internationally. Founded in 2011 and headquartered in Montreal, Canada, the company provides extensive travel information, including schedules, prices, reviews, and amenities, through its website and mobile application. Busbud aggregates bus schedules from over 10,463 cities in 89 countries, allowing travelers to plan their trips in multiple languages and currencies. The platform aims to simplify the travel experience by helping users find the best prices and options that suit their needs, while also providing customer support to enhance the booking experience.

Hopper

Venture Round in 2020
Hopper Inc. is a travel technology company based in Montreal, Canada, with additional offices in Cambridge, Massachusetts, New York, and Sofia, Bulgaria. Founded in 2007 by Frederic Lalonde and Joost Ouwerkerk, Hopper has developed a mobile application that leverages big data and predictive analytics to provide users with travel recommendations. The app specializes in analyzing and forecasting airfare and accommodations, enabling travelers to secure the best deals. Hopper notifies users when flight and hotel prices are anticipated to be at their lowest, allowing them to make informed decisions about their travel plans. The company's innovative platform aims to simplify the travel booking process, making it easier for users to plan and book their trips directly from their mobile devices.

WorkJam

Series C in 2020
WorkJam, Inc. is a technology company that develops an employee engagement platform designed to enhance the relationship between employers and their front-line workforce. Founded in 2014 and headquartered in Montreal, Canada, with additional locations in Cincinnati, Ohio, and Melbourne, Australia, WorkJam offers a web and mobile app that can operate independently or be integrated with existing workforce management systems. The platform features tools for shift and task management, communication, training, and recognition, enabling shift-based, hourly, and non-desk workers to effectively manage their work life. By promoting agile scheduling and transformative communication, WorkJam empowers organizations in various sectors, including retail, healthcare, and manufacturing, to improve operational efficiency, labor cost management, and customer experience through a more engaged workforce. The company also has a strategic partnership with Digital Goodie to further enhance its offerings.

RenoRun

Series A in 2019
RenoRun Inc. is a construction materials delivery company that provides a wide range of products, including beams, bricks, and concrete mixes, primarily serving the construction industry. Established in 2016 and headquartered in Montreal, Canada, RenoRun operates in key markets such as Toronto, Canada, and Austin, Texas. The company offers a mobile-friendly platform that allows general contractors to efficiently order materials and receive timely deliveries directly to job sites, thereby enhancing productivity and reducing downtime. With a focus on streamlining the procurement process, RenoRun aims to be the largest single-source platform for construction materials, simplifying the supply chain for contractors and builders.

Horizon Blockchain Games

Seed Round in 2019
Horizon Blockchain Games Inc. is a game studio and blockchain infrastructure company founded in 2017 and headquartered in Toronto, Canada, with additional offices in Montreal, Vancouver, Seattle, Mexico City, and Madrid. The company specializes in developing video games that leverage blockchain technology, providing users with secure access to web3, enabling digital asset ownership. Among its notable offerings are Arcadeum, a video game network and wallet built on the Ethereum blockchain, and SkyWeaver, an online card game. Horizon Blockchain Games also offers tools and resources for developers to create innovative Internet economies and experiences, positioning itself at the intersection of gaming and blockchain technology.

Busbud

Series B in 2018
Busbud, Inc. offers an online platform for booking intercity bus travel, enabling users to search, compare, and purchase tickets across various destinations in Canada and internationally. Founded in 2011 and headquartered in Montreal, Canada, the company provides extensive travel information, including schedules, prices, reviews, and amenities, through its website and mobile application. Busbud aggregates bus schedules from over 10,463 cities in 89 countries, allowing travelers to plan their trips in multiple languages and currencies. The platform aims to simplify the travel experience by helping users find the best prices and options that suit their needs, while also providing customer support to enhance the booking experience.

Fiska

Seed Round in 2016
Fiska Inc. is a technology company based in Montreal, Canada, founded in 2014. It specializes in developing Thirdshelf, a marketing software solution tailored for retailers across various sectors, including apparel, beauty, electronics, and home goods. The software offers features such as loyalty marketing, automated retention, and customer segmentation, allowing retailers to implement complex loyalty programs and provide targeted email promotions. Customers can earn rewards based on their spending, with the ability to adjust earning potential based on specific criteria. Additionally, Fiska operates in the fintech space, providing an integrated commerce platform aimed at enhancing payment service providers' capabilities. This dual focus positions Fiska as a versatile player in both retail marketing and financial technology, helping businesses streamline operations and improve customer engagement.

Local Logic

Angel Round in 2016
Local Logic is a location intelligence platform based in Montreal, Quebec, that specializes in digitizing the built environment to provide actionable insights for consumers, investors, developers, and governments. By leveraging artificial intelligence and geospatial data, the platform quantifies lifestyle and location characteristics, offering predictive analytics that inform decision-making in the real estate sector. With access to over 75 billion data points, Local Logic supports clients in the $217 trillion real estate market across the US and Canada, providing tools for urban planning and project strategy. The company collaborates with various stakeholders, including commercial real estate, travel, and media firms, to enhance the planning and development of sustainable and equitable urban spaces.

Fiska

Seed Round in 2016
Fiska Inc. is a technology company based in Montreal, Canada, founded in 2014. It specializes in developing Thirdshelf, a marketing software solution tailored for retailers across various sectors, including apparel, beauty, electronics, and home goods. The software offers features such as loyalty marketing, automated retention, and customer segmentation, allowing retailers to implement complex loyalty programs and provide targeted email promotions. Customers can earn rewards based on their spending, with the ability to adjust earning potential based on specific criteria. Additionally, Fiska operates in the fintech space, providing an integrated commerce platform aimed at enhancing payment service providers' capabilities. This dual focus positions Fiska as a versatile player in both retail marketing and financial technology, helping businesses streamline operations and improve customer engagement.

Busbud

Series A in 2014
Busbud, Inc. offers an online platform for booking intercity bus travel, enabling users to search, compare, and purchase tickets across various destinations in Canada and internationally. Founded in 2011 and headquartered in Montreal, Canada, the company provides extensive travel information, including schedules, prices, reviews, and amenities, through its website and mobile application. Busbud aggregates bus schedules from over 10,463 cities in 89 countries, allowing travelers to plan their trips in multiple languages and currencies. The platform aims to simplify the travel experience by helping users find the best prices and options that suit their needs, while also providing customer support to enhance the booking experience.

Beyond the Rack

Series C in 2013
Beyond the Rack is a Montreal-based online shopping platform that functions as a private shopping club, offering exclusive deals on a wide range of products including apparel, accessories, fragrances, home goods, and electronics. With approximately 15 million active members in Canada and the United States, the platform features flash sales that provide discounts of up to 80% on designer and fast fashion items, all without a retail middleman. The company collaborates with over 3,000 brands to host 15-25 sales daily, which typically last between 48 to 72 hours or until items sell out. Membership is free and can be obtained through the website, promotional partners, or referrals from existing members. Beyond the Rack is recognized for its responsive customer service and efficient shipping, contributing to its reputation as a leading online retailer in the fashion industry.

Busbud

Seed Round in 2013
Busbud, Inc. offers an online platform for booking intercity bus travel, enabling users to search, compare, and purchase tickets across various destinations in Canada and internationally. Founded in 2011 and headquartered in Montreal, Canada, the company provides extensive travel information, including schedules, prices, reviews, and amenities, through its website and mobile application. Busbud aggregates bus schedules from over 10,463 cities in 89 countries, allowing travelers to plan their trips in multiple languages and currencies. The platform aims to simplify the travel experience by helping users find the best prices and options that suit their needs, while also providing customer support to enhance the booking experience.

Beyond the Rack

Series B in 2011
Beyond the Rack is a Montreal-based online shopping platform that functions as a private shopping club, offering exclusive deals on a wide range of products including apparel, accessories, fragrances, home goods, and electronics. With approximately 15 million active members in Canada and the United States, the platform features flash sales that provide discounts of up to 80% on designer and fast fashion items, all without a retail middleman. The company collaborates with over 3,000 brands to host 15-25 sales daily, which typically last between 48 to 72 hours or until items sell out. Membership is free and can be obtained through the website, promotional partners, or referrals from existing members. Beyond the Rack is recognized for its responsive customer service and efficient shipping, contributing to its reputation as a leading online retailer in the fashion industry.

Gamerizon Studio

Venture Round in 2011
Gamerizon Studio Inc., established in 2008 and located in Montreal, Canada, specializes in creating high-quality mobile and casual games. As an independent studio, Gamerizon focuses on developing engaging gaming experiences tailored for a wide audience. The company's expertise in the mobile gaming sector positions it as a notable player in the industry, committed to delivering innovative and enjoyable content to gamers.

Woozworld

Series B in 2011
Woozworld Inc. is a virtual platform designed for kids, tweens, and teens, fostering creativity and social interaction. Founded in 2009 and based in Montreal, Canada, Woozworld allows users to create avatars and engage in a massive multiplayer environment. The platform offers a free-to-join experience, where participants can design their own virtual spaces, dress their avatars in stylish outfits, and engage in various activities such as throwing parties, participating in contests, and making friends. As a subsidiary of Azerion BV, Woozworld aims to provide a fun and engaging online community that encourages self-expression and creativity among its young users.

StatusNet

Series A in 2010
StatusNet, Inc. is a Quebec-based company headquartered in Montreal that specializes in developing open-source microblogging software known as StatusNet. The software allows users to create their own microblogging services, similar to traditional blogging platforms. One of the most recognized implementations of this software is Identi.ca. StatusNet aims to provide both public and private microblogging solutions, adopting a strategy akin to that of WordPress. Additionally, the company's platform facilitates interaction among microbloggers and offers features for generating tailored reports and monitoring business status in real-time. This enables organizations to efficiently collect and organize information, enhancing their microblogging experience.

Woozworld

Series A in 2010
Woozworld Inc. is a virtual platform designed for kids, tweens, and teens, fostering creativity and social interaction. Founded in 2009 and based in Montreal, Canada, Woozworld allows users to create avatars and engage in a massive multiplayer environment. The platform offers a free-to-join experience, where participants can design their own virtual spaces, dress their avatars in stylish outfits, and engage in various activities such as throwing parties, participating in contests, and making friends. As a subsidiary of Azerion BV, Woozworld aims to provide a fun and engaging online community that encourages self-expression and creativity among its young users.

StatusNet

Seed Round in 2009
StatusNet, Inc. is a Quebec-based company headquartered in Montreal that specializes in developing open-source microblogging software known as StatusNet. The software allows users to create their own microblogging services, similar to traditional blogging platforms. One of the most recognized implementations of this software is Identi.ca. StatusNet aims to provide both public and private microblogging solutions, adopting a strategy akin to that of WordPress. Additionally, the company's platform facilitates interaction among microbloggers and offers features for generating tailored reports and monitoring business status in real-time. This enables organizations to efficiently collect and organize information, enhancing their microblogging experience.

Ryma Technology Solutions

Series B in 2008
Founded in 2000, Ryma is a leader in product management solutions—developing and selling processes, expertise and tools that enable our customers to develop better products. Our award-winning software solution FeaturePlan™ simplifies the implementation of any product management process and is used by industry-leading companies, such as: ADP, BMC Software, Camstar, EMC, GE Healthcare, NetApp, Sage and Trend Micro. Ryma is based in Montreal, Canada with a Center of Excellence in Austin, Texas. For more information, visit www.rymatech.com.

SiXtron Advanced Materials

Series A in 2007
Sixtron Enterprises Inc. specializes in the development of anti-reflective coating solutions for the solar cell industry, with a particular focus on c-Si solar cell production lines. The company's flagship product, SunBox, is a gas handling solution designed to enhance the efficiency of solar cell manufacturing. In addition to its work in the solar sector, Sixtron is advancing thin film coating solutions applicable to the electronics and industrial coatings industries. These thin films are notable for their unique optical and mechanical properties and can be deposited without the complex requirements associated with hazardous silane gas. Founded in 2004 and based in Calgary, Canada, Sixtron Enterprises Inc. was previously known as SiXtron Advanced Materials Inc.

QuantuModeling

Series A in 2005
QuantuModeling Inc. designs and develops software, which is used in electronic design automation, materials design, defense, chemistry and nanotechnology. QuantuModeling Inc. is based in Montreal, Canada. QuantuModeling Inc. is a prior subsidiary of McGill University.

SiXtron Advanced Materials

Seed Round in 2004
Sixtron Enterprises Inc. specializes in the development of anti-reflective coating solutions for the solar cell industry, with a particular focus on c-Si solar cell production lines. The company's flagship product, SunBox, is a gas handling solution designed to enhance the efficiency of solar cell manufacturing. In addition to its work in the solar sector, Sixtron is advancing thin film coating solutions applicable to the electronics and industrial coatings industries. These thin films are notable for their unique optical and mechanical properties and can be deposited without the complex requirements associated with hazardous silane gas. Founded in 2004 and based in Calgary, Canada, Sixtron Enterprises Inc. was previously known as SiXtron Advanced Materials Inc.
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