Mistral Venture Partners

Mistral Venture Partners Inc. is a venture capital firm that focuses on early-stage and startup companies, particularly in the technology sector. Established in 2012 and headquartered in Ottawa, Canada, with an additional office in San Jose, California, the firm primarily targets investments in smart enterprise companies that emphasize mobility, cloud computing, and the Internet of Things. Mistral aims to invest between $0.1 million and $5 million in companies that require no more than $20 million in total venture capital. The firm typically invests 80 percent of its capital in Eastern Canada, including Ottawa, while allocating 20 percent to American companies. As a seed and early-stage investor, Mistral often serves as the first institutional backer for its portfolio companies and seeks to take a significant ownership stake. The firm leverages its network of venture investors and advisors to enhance growth and facilitate access to further funding opportunities.

Code Cubitt

Managing Director

Brian O'Higgins

Executive Fellow

Michael Scanlin

Venture Partner

Past deals in Ontario

Cookin

Seed Round in 2023
Cookin is a homemade food delivery marketplace where people can find home-cooked meals and have them delivered to their doors. Cookin Inc. is rethinking what it takes to start a food business and enabling a new class of creators to do what they love. Cookin empowers talented cooks, many of whom are reinventing themselves from a topsy-turvy restaurant industry, to turn their own talents and home kitchens into a source of income. Cookin matches buyers and cooks together on the marketplace and dispatches a driver to pick up the meal and deliver it.

Blue J

Series B in 2021
Blue J Legal is a machine learning and artificial intelligence that delivers absolute clarity to the law. The company's original product, Tax Foresight, helps tax professionals make judgments for clients accurately and predictably the same as the decisions that tax enforcement agencies and courts would reach in the same situation. The company's second product, Employment Foresight, is an AI-based software that helps HR professionals, in-house counsel, and employment lawyers get fast clarity on how the courts would fix challenging employment law issues. Blue J Legal was founded on 2015 and is headquartered in Toronto, Ontario.

Rewind

Series A in 2021
Since 2015, Rewind has been on a mission to help small and medium businesses keep growing online. Today, over 30,000 total customers in more than 100 countries use Rewind’s top-reviewed software and support to easily control the software-as-a-service data that's critical to their success. Rewind's solutions empower businesses to protect and recover the data they need for consistent growth.

Ritual

Series C in 2020
Ritual Technologies Inc.develops a mobile application that enables corporate professionals to order and pick up coffee and meals, and pay from their smartphones. It offers Ritual, an application that enables users to browse food and place orders at nearby lunch and coffee spots. The company provides employers with redeemable credits for their employees. Ritual Technologies Inc. was founded in 2015 and is based in Toronto, Canada.

Relogix

Series A in 2019
Relogix Inc. is a Canadian company based in Ottawa that specializes in developing sensor-based devices for monitoring and tracking unused office spaces. The company offers its UtiLive system, which combines advanced sensor technology and a machine learning analytics engine to provide real-time insights into workplace usage. This system helps identify usage patterns, enabling real estate professionals to optimize their portfolios effectively. Relogix operates on a sensor-as-a-service pricing model, which encompasses initial floor planning, the deployment of sensor devices, and ongoing monitoring through a cloud-based application. Founded in 2010, Relogix primarily serves large enterprises and commercial real estate portfolios, particularly those with dynamic mobile workforces, such as technology firms and financial institutions.

Buckzy Payments

Seed Round in 2019
Buckzy Payments Inc. is a Toronto-based company that specializes in creating a real-time financial ecosystem for consumers and small businesses to facilitate instant money transfers. The company's platform supports various services, including bank transfers, digital wallet transfers, email money transfers, multi-currency transfers, and bill payments. Buckzy Payments aims to operate continuously, providing users with the ability to send and receive funds at any time throughout the year.

Blue J

Series A in 2018
Blue J Legal is a machine learning and artificial intelligence that delivers absolute clarity to the law. The company's original product, Tax Foresight, helps tax professionals make judgments for clients accurately and predictably the same as the decisions that tax enforcement agencies and courts would reach in the same situation. The company's second product, Employment Foresight, is an AI-based software that helps HR professionals, in-house counsel, and employment lawyers get fast clarity on how the courts would fix challenging employment law issues. Blue J Legal was founded on 2015 and is headquartered in Toronto, Ontario.

Relogix

Seed Round in 2018
Relogix Inc. is a Canadian company based in Ottawa that specializes in developing sensor-based devices for monitoring and tracking unused office spaces. The company offers its UtiLive system, which combines advanced sensor technology and a machine learning analytics engine to provide real-time insights into workplace usage. This system helps identify usage patterns, enabling real estate professionals to optimize their portfolios effectively. Relogix operates on a sensor-as-a-service pricing model, which encompasses initial floor planning, the deployment of sensor devices, and ongoing monitoring through a cloud-based application. Founded in 2010, Relogix primarily serves large enterprises and commercial real estate portfolios, particularly those with dynamic mobile workforces, such as technology firms and financial institutions.

Ritual

Series C in 2018
Ritual Technologies Inc.develops a mobile application that enables corporate professionals to order and pick up coffee and meals, and pay from their smartphones. It offers Ritual, an application that enables users to browse food and place orders at nearby lunch and coffee spots. The company provides employers with redeemable credits for their employees. Ritual Technologies Inc. was founded in 2015 and is based in Toronto, Canada.

QUID

Seed Round in 2018
QUID is a payment processing service designed to process tiny transactions at extremely high volumes. Our vision is a world of connected people, platforms, and devices making billions of secure, tiny payments effortlessly. Our team has solved some of the most complex security and privacy challenges in the past decade. By using techniques such as cryptographic receipts and personal information obfuscation, the QUID platform is engineered from the ground up to ensure secure payment processing and data privacy. QUID offers innovative, low-friction merchant tools to make it easy for users to accept payments on their websites, blogs, podcasts, or social profiles. Merchants can use the QUID Payments plugin for WordPress or any of our quickstart guides to quickly and easily start accepting QUID on websites built with many of the most popular website platforms like WordPress, Wix, Squarespace, and more. Our robust libraries and developer-first approach to building the QUID platform means that developers can easily integrate micropayments into their websites and apps -- our high-throughput, globally consistent ledger ensures that QUID can scale to support any micropayment application developers can build.

Ritual

Series B in 2017
Ritual Technologies Inc.develops a mobile application that enables corporate professionals to order and pick up coffee and meals, and pay from their smartphones. It offers Ritual, an application that enables users to browse food and place orders at nearby lunch and coffee spots. The company provides employers with redeemable credits for their employees. Ritual Technologies Inc. was founded in 2015 and is based in Toronto, Canada.

Rarelogic

Venture Round in 2017
RareLogic Inc. is an Ottawa-based company that specializes in providing automated predictive email marketing solutions for online retailers. Established in 2009, the company offers a comprehensive platform that includes features such as predictive email recommendations, customer list building, automated event-based communications, and e-commerce integration. Additionally, RareLogic provides tools for creating visually appealing emails through a drag-and-drop designer, along with analytics and reporting capabilities to enhance marketing strategies. By leveraging customer data, RareLogic aims to improve email engagement and foster repeat business for its clients, helping them build stronger relationships with their customers.

Sensibill

Series A in 2017
Sensibill Inc., founded in 2012 and based in Toronto, Canada, operates a cloud-based application that enables users to access digital receipts directly from their bank accounts. The company offers a comprehensive digital receipts ecosystem, providing financial institutions with a turnkey solution to help retail customers manage itemized receipts through trusted banking applications. Sensibill's platform emphasizes a user-friendly interface, enhancing customer engagement and fostering loyalty among users. By integrating technology with design, Sensibill transforms the way customers interact with their financial services, turning them into advocates for the banking applications they utilize.

Blue J

Seed Round in 2017
Blue J Legal is a machine learning and artificial intelligence that delivers absolute clarity to the law. The company's original product, Tax Foresight, helps tax professionals make judgments for clients accurately and predictably the same as the decisions that tax enforcement agencies and courts would reach in the same situation. The company's second product, Employment Foresight, is an AI-based software that helps HR professionals, in-house counsel, and employment lawyers get fast clarity on how the courts would fix challenging employment law issues. Blue J Legal was founded on 2015 and is headquartered in Toronto, Ontario.

Klipfolio

Series B in 2017
Our mission is to help people succeed with data. We believe in empowering you to make better decisions by eliminating the unknown. Take control of your data and be stronger, better, and more competitive every day. Klipfolio is the new way people and their teams make informed decisions leveraging team-based BI, dashboards, and reporting. From startups to Fortune 500 teams, Klipfolio provides the power and flexibility you always wanted. Succeed with data and start for free.

Soundpays Inc.

Seed Round in 2016
Soundpays Inc. is a Toronto-based company that specializes in mobile payment solutions utilizing patented ultrasonic soundwave technology. Founded in 2013, Soundpays enables mobile devices to function as digital wallets across various purchase channels by employing inaudible sound waves. This innovative technology allows consumers to engage with advertising and broadcast content in real-time, enhancing their shopping and viewing experiences. By facilitating immediate interactions, Soundpays provides opportunities for businesses to convert customer interest into sales right at the moment of engagement. Additionally, its solutions contribute to reducing physical density in retail environments and eliminate the need for traditional point-of-sale interactions, making transactions more convenient and efficient for consumers.

Sensibill

Seed Round in 2015
Sensibill Inc., founded in 2012 and based in Toronto, Canada, operates a cloud-based application that enables users to access digital receipts directly from their bank accounts. The company offers a comprehensive digital receipts ecosystem, providing financial institutions with a turnkey solution to help retail customers manage itemized receipts through trusted banking applications. Sensibill's platform emphasizes a user-friendly interface, enhancing customer engagement and fostering loyalty among users. By integrating technology with design, Sensibill transforms the way customers interact with their financial services, turning them into advocates for the banking applications they utilize.

Klipfolio

Series A in 2015
Our mission is to help people succeed with data. We believe in empowering you to make better decisions by eliminating the unknown. Take control of your data and be stronger, better, and more competitive every day. Klipfolio is the new way people and their teams make informed decisions leveraging team-based BI, dashboards, and reporting. From startups to Fortune 500 teams, Klipfolio provides the power and flexibility you always wanted. Succeed with data and start for free.

Giatec

Seed Round in 2014
Giatec Scientific Inc. designs and manufactures sensor based testing products for the construction industry. It develops mobile applications to monitor concrete strength. The company’s products include SmartRock, a wireless concrete sensor; Smart Concrete, an application to monitor concrete; BlueRock 2, a concrete humidity sensor; SmartBox, a wireless resistance monitoring device; iCor, a wireless non-destructive testing tool; Xcell, a corrosion mapping device; Perma 2, an electrical resistance measurement device; Rcon 2, a non-destructive electrical resistivity measurement device; and Surf, a surface electrical resistivity measurement device. The company was founded in 2010 and is based in Ottawa, Canada.

Ritual

Seed Round in 2014
Ritual Technologies Inc.develops a mobile application that enables corporate professionals to order and pick up coffee and meals, and pay from their smartphones. It offers Ritual, an application that enables users to browse food and place orders at nearby lunch and coffee spots. The company provides employers with redeemable credits for their employees. Ritual Technologies Inc. was founded in 2015 and is based in Toronto, Canada.

Klipfolio

Seed Round in 2014
Our mission is to help people succeed with data. We believe in empowering you to make better decisions by eliminating the unknown. Take control of your data and be stronger, better, and more competitive every day. Klipfolio is the new way people and their teams make informed decisions leveraging team-based BI, dashboards, and reporting. From startups to Fortune 500 teams, Klipfolio provides the power and flexibility you always wanted. Succeed with data and start for free.

Rarelogic

Seed Round in 2014
RareLogic Inc. is an Ottawa-based company that specializes in providing automated predictive email marketing solutions for online retailers. Established in 2009, the company offers a comprehensive platform that includes features such as predictive email recommendations, customer list building, automated event-based communications, and e-commerce integration. Additionally, RareLogic provides tools for creating visually appealing emails through a drag-and-drop designer, along with analytics and reporting capabilities to enhance marketing strategies. By leveraging customer data, RareLogic aims to improve email engagement and foster repeat business for its clients, helping them build stronger relationships with their customers.