Panache Ventures

Panache Ventures, Inc. is a venture capital firm founded in March 2018 and based in Calgary, Canada, with additional offices in Montreal, Vancouver, Toronto, and San Francisco. The firm specializes in pre-seed and seed-stage investments, focusing on sectors that leverage Canada's strengths, including artificial intelligence, cybersecurity, blockchain, virtual reality, fintech, digital health, enterprise software, and data analytics. Panache Ventures aims to support innovative startups in these emerging fields, primarily within Canada.

Tim Kwok

Analyst

Scott Loong

Partner

Prashant Matta

Partner

Past deals in Toronto

ODAIA

Series B in 2023
ODAIA is a company that has developed an AI-powered Customer Data Platform specifically for the Life Sciences industry. This innovative platform integrates process mining, customer journey mapping, and artificial intelligence to provide commercial insights and automate processes. By leveraging data analysis, ODAIA's solution enables pharmaceutical commercial teams to enhance personalized selling and ensure that therapeutics reach the patients who require them. The platform aims to streamline decision-making and improve the effectiveness of commercial strategies in the healthcare sector.

Moves

Seed Round in 2022
Moves is making gig work better. We're building the largest community of serious gig workers — helping them manage their overhead and keep them on the road. We help maximize the perks of independent and flexible work, while minimizing the headaches and overhead. Moves partners with gig companies to create seamless experiences for gig workers. Our tailored financial services provide instant payouts and cash advances to your workers. Plus, access our proven worker recruitment channels.

SPATULA Foods

Pre Seed Round in 2022
SPATULA Foods is a chef-to-consumer marketplace that offers elevated, high-quality meals, and food products. The company uses flash-freezing technology to perfectly preserve the taste, texture, and freshness of high-quality cuisine. SPATULA Foods serves as a venue for chefs to advertise their culinary works outside of conventional restaurants.

Mayday

Seed Round in 2022
Mayday Labs Inc. is a Toronto-based company that specializes in designing and developing wellness and productivity software solutions. Founded in 2018, the company focuses on creating an AI-assisted scheduling tool that helps users organize and optimize their time effectively. This tool analyzes how time is allocated across various activities and offers calendar management features, including automatic travel time scheduling. By providing personalized assistance and recommendations for daily time management, Mayday Labs aims to enhance productivity and adapt to changing schedules, enabling users to manage their time more efficiently.

ODAIA

Series A in 2022
ODAIA is a company that has developed an AI-powered Customer Data Platform specifically for the Life Sciences industry. This innovative platform integrates process mining, customer journey mapping, and artificial intelligence to provide commercial insights and automate processes. By leveraging data analysis, ODAIA's solution enables pharmaceutical commercial teams to enhance personalized selling and ensure that therapeutics reach the patients who require them. The platform aims to streamline decision-making and improve the effectiveness of commercial strategies in the healthcare sector.

Relay

Series A in 2021
Relay is an-all-in-one, collaborative business banking and money management platform that helps small businesses and their teams take control of their cash flow and get crystal clear on what they’re earning, spending and saving. With Relay, business owners can: -Bank with no monthly account fees, no overdraft fees, and no minimum balance required -Organize income, expenses and cash reserves using up to 20 individual accounts -2 savings accounts offering between 1-3% APY -Issue up to 50 virtual or physical Visa® debit cards to meticulously organize spending by team or project -Send payments and deposits via ACH, wires or checks -Cashflow automations, like maximum balance transfer rules and recurring payments -Give team members and financial advisors secure, role-based banking access -Integrate banking with accounting softwares like QuickBooks Online and Xero -Get personalized customer support by email and phone Relay is also the official banking partner of Profit First, the cash flow management methodology and book created by serial entrepreneur Mike Michalowicz.

Forma

Series A in 2021
Forma.ai is a Toronto-based company founded in 2016 that specializes in a data-driven sales compensation platform. This solution allows organizations to design, implement, and optimize their sales compensation strategies effectively. By leveraging artificial intelligence, Forma.ai's software administers and monitors sales incentives in real-time, tracking individual performance and aligning with strategic business objectives. This approach enhances organizational agility and motivates sales teams, ultimately driving better customer interactions and higher performance levels. With teams operating across Canada and the United States, Forma.ai aims to provide businesses with a comprehensive tool for managing compensation processes efficiently.

ODAIA

Seed Round in 2020
ODAIA is a company that has developed an AI-powered Customer Data Platform specifically for the Life Sciences industry. This innovative platform integrates process mining, customer journey mapping, and artificial intelligence to provide commercial insights and automate processes. By leveraging data analysis, ODAIA's solution enables pharmaceutical commercial teams to enhance personalized selling and ensure that therapeutics reach the patients who require them. The platform aims to streamline decision-making and improve the effectiveness of commercial strategies in the healthcare sector.

Relay

Venture Round in 2020
Relay is an-all-in-one, collaborative business banking and money management platform that helps small businesses and their teams take control of their cash flow and get crystal clear on what they’re earning, spending and saving. With Relay, business owners can: -Bank with no monthly account fees, no overdraft fees, and no minimum balance required -Organize income, expenses and cash reserves using up to 20 individual accounts -2 savings accounts offering between 1-3% APY -Issue up to 50 virtual or physical Visa® debit cards to meticulously organize spending by team or project -Send payments and deposits via ACH, wires or checks -Cashflow automations, like maximum balance transfer rules and recurring payments -Give team members and financial advisors secure, role-based banking access -Integrate banking with accounting softwares like QuickBooks Online and Xero -Get personalized customer support by email and phone Relay is also the official banking partner of Profit First, the cash flow management methodology and book created by serial entrepreneur Mike Michalowicz.

OnCall Health

Series A in 2020
OnCall Health is a provider of telehealth software specifically designed for behavioral health services. The company focuses on facilitating virtual care programs by offering a white-label patient portal that allows clinics to conduct video appointments, engage with patients through messaging, and share relevant content. Their software includes features for online billing, file sharing, automated appointment reminders, and analytics, which support healthcare providers in improving patient retention and operational efficiency. OnCall Health aims to drive digital transformation in the healthcare industry by enhancing the delivery of care and enabling providers to scale their services effectively.

FleetOps

Seed Round in 2020
FleetOps is a freight marketplace.It works by automating the allocation of loads to truck drivers that can deliver them. It does this by leveraging the data of telematics providers (ex. BigRoad.com) which provide thousands of data-points on vehicles, and by interacting with drivers through a mobile application which truck drivers are required to use called an ELD (read more here: http://bit.ly/2vqq4w7). This telematics data gives us information on: • Where trucks are • Where trucks are headed • What routes trucks typically use • When they’re handling a back-haul (return journey) • When trucks are idle, etc. • Driver behaviour • Available driving hours We run AI/ML algorithms against this and computationally determine which loads are most-appropriate for which drivers. When we make these determinations, we send drivers shipment opportunities

Lane

Series A in 2020
Lane is a leading workplace experience platform founded in 2018, aimed at transforming and connecting office environments through its no-code enterprise software. This platform efficiently manages various aspects of daily office life, including room bookings, access management, and communications. It integrates existing building systems to create cohesive ecosystems within office spaces, allowing for enhanced connectivity and engagement among tenants. Lane's technology supports over 300 properties across 22 major cities in 8 countries, serving notable clients such as Brookfield Properties, Oxford, and Colliers. By streamlining operations and offering services like tenant directories and event management, Lane enhances the overall workplace experience, making offices more functional and community-oriented.

Swyft

Seed Round in 2020
Swyft is a B2B marketplace offering same-day delivery for brands and retailers. It enables carriers to digitize or automate a good deal of what they’re traditionally doing by hand. Ship via Swyft and gain unified bills, digital PODs, real-time track and trace, branded customer notifications, SMS updates, and more. Swyft converts more shoppers at checkout and delights them with reliable and affordable same-day delivery. Swyft was founded in 2020 and is based in Toronto, Canada.

Lilia

Seed Round in 2020
Lilia is a fertility support company that offers comprehensive services to women, focusing on egg freezing and family planning. Founded in 2019, Lilia provides a home-based diagnostic test for fertility hormone assessment and operates a resource hub that connects prospective parents with fertility specialists. The company's concierge service assists individuals in navigating their fertility options, providing well-researched data related to egg count, menopause timing, and age to inform decisions. By offering low-cost fertility management services, Lilia aims to empower busy individuals who wish to preserve their options for parenthood later in life. Headquartered in Toronto, Canada, Lilia serves clients primarily in San Francisco, California.

Roost

Pre Seed Round in 2019
Roost Living, Inc. is a property management company based in Toronto, Canada, specializing in co-living spaces and long-term rentals. Established in 2018, Roost focuses on providing an end-to-end rental platform that simplifies the renting process for modern tenants, particularly targeting Gen Z and Millennial renters. The company offers a range of services, including the design, furnishing, and leasing of properties, as well as building repair services. Through the use of data and hyper-personalization, Roost aims to enhance the renting experience for both tenants and landlords, making it as convenient as booking a hotel. The company is supported by several venture capital firms and angel investors, reflecting its commitment to leveraging technology in the real estate sector.

Mayday

Pre Seed Round in 2019
Mayday Labs Inc. is a Toronto-based company that specializes in designing and developing wellness and productivity software solutions. Founded in 2018, the company focuses on creating an AI-assisted scheduling tool that helps users organize and optimize their time effectively. This tool analyzes how time is allocated across various activities and offers calendar management features, including automatic travel time scheduling. By providing personalized assistance and recommendations for daily time management, Mayday Labs aims to enhance productivity and adapt to changing schedules, enabling users to manage their time more efficiently.

Kora

Seed Round in 2019
Kora is a pan-African payment infrastructure company headquartered in Canada, with additional offices in Nigeria and the United Kingdom. The company specializes in facilitating pay-ins and payouts for local and global businesses across various payment channels in Africa. Kora's platform utilizes blockchain technology to provide an efficient cross-border payments solution, which aims to reduce the costs associated with remittances. By enabling individuals and businesses to receive payments from anywhere in the world, Kora contributes to enhancing the accessibility and affordability of financial transactions across the continent.

ODAIA

Seed Round in 2019
ODAIA is a company that has developed an AI-powered Customer Data Platform specifically for the Life Sciences industry. This innovative platform integrates process mining, customer journey mapping, and artificial intelligence to provide commercial insights and automate processes. By leveraging data analysis, ODAIA's solution enables pharmaceutical commercial teams to enhance personalized selling and ensure that therapeutics reach the patients who require them. The platform aims to streamline decision-making and improve the effectiveness of commercial strategies in the healthcare sector.

Lilia

Pre Seed Round in 2019
Lilia is a fertility support company that offers comprehensive services to women, focusing on egg freezing and family planning. Founded in 2019, Lilia provides a home-based diagnostic test for fertility hormone assessment and operates a resource hub that connects prospective parents with fertility specialists. The company's concierge service assists individuals in navigating their fertility options, providing well-researched data related to egg count, menopause timing, and age to inform decisions. By offering low-cost fertility management services, Lilia aims to empower busy individuals who wish to preserve their options for parenthood later in life. Headquartered in Toronto, Canada, Lilia serves clients primarily in San Francisco, California.

Lane

Seed Round in 2019
Lane is a leading workplace experience platform founded in 2018, aimed at transforming and connecting office environments through its no-code enterprise software. This platform efficiently manages various aspects of daily office life, including room bookings, access management, and communications. It integrates existing building systems to create cohesive ecosystems within office spaces, allowing for enhanced connectivity and engagement among tenants. Lane's technology supports over 300 properties across 22 major cities in 8 countries, serving notable clients such as Brookfield Properties, Oxford, and Colliers. By streamlining operations and offering services like tenant directories and event management, Lane enhances the overall workplace experience, making offices more functional and community-oriented.

OnCall Health

Seed Round in 2019
OnCall Health is a provider of telehealth software specifically designed for behavioral health services. The company focuses on facilitating virtual care programs by offering a white-label patient portal that allows clinics to conduct video appointments, engage with patients through messaging, and share relevant content. Their software includes features for online billing, file sharing, automated appointment reminders, and analytics, which support healthcare providers in improving patient retention and operational efficiency. OnCall Health aims to drive digital transformation in the healthcare industry by enhancing the delivery of care and enabling providers to scale their services effectively.

MedStack

Seed Round in 2019
MedStack, Inc. is a Canadian company based in Toronto that operates an end-to-end cloud developer platform specifically designed for healthcare applications. Founded in 2015, the platform provides developers with tools to address critical challenges in data privacy, security, and interoperability. MedStack offers a comprehensive solution that combines automated cloud data security with pre-written compliance policies aligned with industry standards such as HIPAA and ISO 27001. This approach reduces the time and cost of developing integrated, patient-centric healthcare applications by 60%. The platform has gained recognition for its effectiveness, being integrated by numerous digital health companies and endorsed by prestigious healthcare institutions like Cedars-Sinai and the NHS. Its capabilities include a standards-oriented cloud database and healthcare workflow building blocks that facilitate compliance and streamline system integration, enabling developers to build, launch, and scale compliant applications efficiently.

FleetOps

Seed Round in 2018
FleetOps is a freight marketplace.It works by automating the allocation of loads to truck drivers that can deliver them. It does this by leveraging the data of telematics providers (ex. BigRoad.com) which provide thousands of data-points on vehicles, and by interacting with drivers through a mobile application which truck drivers are required to use called an ELD (read more here: http://bit.ly/2vqq4w7). This telematics data gives us information on: • Where trucks are • Where trucks are headed • What routes trucks typically use • When they’re handling a back-haul (return journey) • When trucks are idle, etc. • Driver behaviour • Available driving hours We run AI/ML algorithms against this and computationally determine which loads are most-appropriate for which drivers. When we make these determinations, we send drivers shipment opportunities

Wisk Solutions

Pre Seed Round in 2016
Wisk Solutions Inc. is a Toronto-based company that specializes in developing software for the management of alcoholic operations. The software facilitates inventory management, consumption analysis, product pricing, and the optimization of purchase orders. Catering primarily to the hospitality industry, its clientele includes hotels, clubs, restaurants, and bars. Founded in 2014, Wisk Solutions aims to enhance operational efficiency by reducing the time spent on inventory counting and data compilation.
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