With 20 million users accessing their platform, Benevity is the largest corporate purpose software provider in the world. But last week, Benevity announced it is laying off 137 staff members. This represents 14% of the Calgary-based technology unicorn’s workforce. In a statement posted to Benevity’s website, CEO Kelly Schmitt called it one of the toughest days in the company’s history. […]
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SVG Ventures THRIVE Launches Global Pioneer Fund with Farm Credit Canada as Lead Investor
SVG Ventures THRIVE is aiming to raise $75 million for its third fund dedicated to supporting global agrifood startups developing sustainable solutions. Called the “Pioneer Fund,” SVG Ventures Thrive plans to make initial investments in seed to Series A stage agrifood startups. Federal Crown corp Farm Credit Canada (FCC) has been confirmed as the lead investor […]
Alphabet Layoffs Impact Alberta’s AI Cluster, But Ecosystem Remains Resilient
Alphabet’s recent announcement that it will cut a whopping 12,000 staff sent shockwaves throughout the industry. The move will impact many regions and organizations, including dealing a blow to Alberta’s burgeoning artificial intelligence scene. That is because Google owns DeepMind, the company’s AI research arm, which runs an office in Alberta. As a result of […]
Two Calgary Startups Named Finalists at OKGN Angel Summit
The OKGN Angel Summit officially kicked off earlier this month with an investment fund of $225,000 on the table for one courageous startup. The uniquely elevated pitch program guides Okanagan-based investors and startups from across Western Canada through the capital-raising process as part of a Dragon’s Den-style selection process culminating in a public Grand Finale. The group […]
IronSight Recognized as Tech-Based Innovator in Canada’s Energy Sector
Founded in 2017 by two former vac truck operators working in the oil fields of Alberta, Shawn Marten and Adam Jessome saw a need in the marketplace and jumped in. The entrepreneurs built a SaaS tech platform for producers and energy companies. With funding from ARC Financial, IronSight raised money through funding rounds including in late […]
NBA Makes Significant Investment In Calgary’s StellarAlgo
The National Basketball Association has taken an equity stake in StellarAlgo, the Calgary-based data company that helps professional sports teams better understand and predict the spending habits of fans. In addition to the NBA becoming a “meaningful equity holder,” StellarAlgo announced a multi-year, league-wide strategic partnership that will see them provide all 30 NBA teams […]
Fast-Growing ZayZoon Lands Key Partnership with ATB
In 2020, ZayZoon participated in Montreal’s Financial Health Lab, which assists fintech startups that use technology to help improve the financial lives of Canadians by making financial products and services more affordable. The Calgary-based fintech maintained momentum with $25 million in new financing last year. The ZayZoon platform allows employees to instantly access earned wages on-demand with more than 3,000 […]
DeepMarkit To Explore AI Opportunities With New Business Unit
Calgary’s DeepMarkit has announced the formation of new subsidiary to focus on exploring, developing and partnering or investing in innovative and value add Artificial Intelligence based technologies. DeepMarkit is focused on transitioning the global carbon offset market to the more accessible digital economy by minting carbon offset credits into non-fungible tokens (NFTs). The new business […]
PrairiesCan Invests $25 Million In 15 Companies to Create 800+ Jobs
The federal government is investing over $25.5 million, through PrairiesCan and the Jobs and Growth Fund, in 15 Calgary and area businesses to scale-up and create new opportunities for job seekers. In total, the initiatives are expected to help support 800+ jobs, and assist businesses to access the talent, technology, and resources they need to […]
Unicorn Benevity Lays Off 14 Per Cent Of Workforce
Calgary tech unicorn Benevity announced today that it’s laying off 137 staff members, representing 14 per cent of the company’s workforce. In a written statement posted to Benevity’s website, CEO Kelly Schmitt called it one of the toughest days in the company’s history, pointing to recent company growth outpacing a slowing demand for its services. “We significantly […]