RBC

Royal Bank of Canada (RBC) is a global financial institution founded in 1869, headquartered in Toronto, Canada. It offers a wide range of services including personal and commercial banking, credit cards, insurance, investor and treasury services, capital markets, and wealth management. RBC caters to diverse sectors such as agriculture, automotive, clean technology, healthcare, and technology. RBC Ventures, established in 2017, is the corporate venture arm of RBC, focusing on seed, early, and later-stage investments in software, AI, machine learning, B2B payments, fintech, marketing technology, big data, cybersecurity, and e-commerce sectors.

Munish Aggarwal

Investor at RBC Capital Markets

David Goldband

Vice President

Matthew Hall

Director

Jane Henderson

Vice President of Senior Commercial Markets

Janice Lai

Vice President

Brandon Lew

President

Steve Lewis

Director

Jordan McMullen

Director

Jessica Rausch

COO

Donald Sanya

President

Peter Schilling

Managing Director

Patrick Trainor

Managing Director

Julia Wall

Associate Director, Venture Capital and Private Equity

Jeffrey Wong

Vice President

Anne Woods

Managing Director, Life Sciences and Healthcare

Past deals in Canada

Seneca Polytechnic

Grant in 2025
Seneca Polytechnic provides a range of degree, diploma, and certificate programs, available in both full- and part-time formats, offered both online and on-campus in the Greater Toronto area.

BuildDirect

Post in 2024
BuildDirect Technologies Inc. operates an online marketplace that connects homeowners and home improvement professionals in North America with global suppliers of building materials. Founded in 1999 and based in Vancouver, Canada, the company offers a wide range of products, including flooring, decking, tiles, and other building materials. Its platform facilitates the buying and selling of these materials, enhancing accessibility for consumers and professionals alike. BuildDirect's services also include BuildDirect Gateway, a global supply chain platform that provides third parties with access to advanced warehousing and logistics solutions, streamlining the shipping process from manufacturing to last-mile delivery. The company generates the majority of its revenue from its primary platform in the United States.

MaRS Discovery District

Grant in 2024
MaRS Discovery District is a non-profit organization based in Toronto, Canada, dedicated to fostering high-growth companies within the knowledge economy. Established in 2000, it serves as an urban innovation hub that brings together a diverse community of approximately 2,500 individuals from various sectors, including life sciences, information technology, clean technology, and healthcare. MaRS provides support to entrepreneurs through advisory services, market intelligence, and access to capital, as well as facilitating connections to talent and customers. By partnering with researchers, businesses, and government entities, MaRS aims to accelerate the development of innovative solutions and drive economic growth in Canada.

Vosker

Debt Financing in 2024
Vosker provides remote area monitoring technology using solar power and artificial intelligence for cutting-edge surveillance solutions. It offers mobile security cameras that operate on 4G/LTE networks and are powered by solar energy, providing surveillance capabilities. These cameras are primarily used in various industries. Vosker was founded in 2018, and headquartered in Victoriaville, Quebec.

Doman Building Materials Group

Post in 2024
Doman Building Materials Group is a prominent Canadian wholesale distributor specializing in building materials, home renovation products, and hardware. The company serves various sectors, including new home construction, home renovation, and the industrial market, supplying a diverse range of products to retailers, lumberyards, and home improvement centers. Doman's extensive product line includes structural, exterior, interior, and specialty items designed to meet the needs of builders and homeowners engaged in new construction, repair, and remodeling projects. Additionally, the company is involved in timber ownership and manages private timberlands and forest licenses, offering services such as agricultural post-peeling and wood pressure treating. Doman Building Materials Group operates primarily in Canada and the United States, emphasizing quality and value across all its offerings.

TFI International

Post in 2024
TFI International Inc is a transportation and logistics company based in Canada, operating across North America through four primary segments: package and courier, less-than-truckload, truckload, and logistics. Established in 1957 and headquartered in Saint Laurent, Quebec, TFI International offers a comprehensive range of services, including the transportation and delivery of goods, which caters to various industries such as insurance, optical, financial, travel, dental, and legal sectors. The company's package and courier segment manages a significant volume of deliveries, while the less-than-truckload and truckload segments handle varying sizes of shipments, utilizing specialized trucks for different needs. Additionally, TFI International provides general logistics services, enhancing its operational efficiency and creating value for shareholders through strategic acquisitions and a robust network of wholly-owned subsidiaries. The majority of its revenue is generated from Canadian operations, with a notable presence in the United States.

NeuPath Health

Post in 2023
NeuPath Health Inc. is a Canadian company specializing in chronic pain management services, headquartered in Mississauga, Ontario. It operates 12 clinics under the Centres for Pain Management and InMedic Creative Medicine brands. The company provides comprehensive assessments and multi-modal treatment plans aimed at helping patients manage chronic pain and improve their quality of life. NeuPath Health addresses a wide range of conditions, including acute pain, spinal injuries, myofascial pain, neuropathic pain, post-shingles neuropathic pain, sports-related injuries, and concussions. By leveraging technology and fostering inter-professional collaboration among licensed healthcare providers, NeuPath Health develops patient-centered treatment strategies that focus on restoring function and overall well-being.

Cipher Pharmaceuticals

Post in 2023
Cipher Pharmaceuticals, established in 2011 and headquartered in Charleston, South Carolina, is a specialty pharmaceutical company focused on developing and acquiring skin care solutions for unmet medical needs. It offers a range of prescription dermatology products, including Bionect for wound management, Nuvail for nail dystrophy, and Absorica for severe acne. Additionally, it provides consumer skin care products such as AL12, Inova, Pro: 12 Mousse, and Umecta, which cater to various skin conditions. Cipher's portfolio also includes ConZip/Durela for chronic pain management and Lipofen for hypercholesterolemia. These products are distributed to healthcare professionals and patients through strategic partnerships in Canada and the United States. The company's core competency lies in identifying product opportunities, managing clinical and regulatory development, and generating royalty streams through out-licensing agreements.

Foodtastic

Debt Financing in 2022
Foodtastic is a Quebec-based franchisor that operates a diverse portfolio of restaurant concepts, including La Belle et La Boeuf, Carlos & Pepe's, Souvlaki Bar, Nickels, and Bacaro. With over 900 restaurants in its system generating more than $830 million in sales, Foodtastic is a prominent player in the restaurant industry. The company provides a variety of culinary styles and beverages, creating entertaining dining experiences for its customers. Additionally, Foodtastic is expanding its reach internationally, boasting over 100 restaurants outside of Canada.

RBCx

Acquisition in 2022
RBCx pursues big, bold ideas and leverages RBC's extensive experience, network, and capital to empower tech trailblazers to compete harder and grow faster. We know building great businesses takes more than just capital, which is why our four pillars – Banking, Capital, Platform, and Ventures – combine to make us the go-to backer of Canadian innovation.

Tradelogiq

Secondary Market in 2022
TradeLogiq is a developer and operator of an alternative trading system focused on Canadian exchange-listed equities. The company employs advanced technology to operate a sophisticated trading platform that offers enhanced marketplace solutions and access to vital liquidity. Additionally, TradeLogiq provides comprehensive market data and analytics, helping clients effectively analyze their operations and achieve optimal execution for investors and market participants. By facilitating trading across all major Canadian listed exchanges, TradeLogiq aims to improve the trading experience and outcomes for its users.

Tealbook

Series B in 2021
Tealbook, Inc. is an online supplier knowledge management and procurement platform headquartered in Toronto, Canada. Founded in 2014, the company provides a centralized system that consolidates credible and up-to-date information about suppliers, enabling procurement teams to identify and connect with qualified suppliers. The platform offers a comprehensive view of supplier data, including company details, product offerings, diversity status, and client recommendations. It also integrates with various enterprise resource planning systems and procurement tools, enhancing the visibility and knowledge of preferred suppliers. Tealbook's innovations have garnered industry recognition, such as being included in the CIX Top 20 and the Gartner Cool Vendor list. Through its services, Tealbook aims to improve buyer-supplier relations and streamline the procurement process for enterprises.

ClearRisk

Debt Financing in 2021
ClearRisk, Inc. specializes in providing cloud-based software solutions tailored for the insurance industry in North America. Founded in 2006 and based in St. John's, Canada, the company offers three main products: ClearRisk Manager, an online platform that helps organizations develop and implement risk management plans; ClearRisk Tracker, designed for mid-market municipalities to manage insurance claims, exposures, incidents, and policies; and ClearRisk Underwriter, a web application that facilitates automation and collaboration for insurance brokers and underwriters. ClearRisk's solutions enable insurance professionals, including brokers and risk managers, to efficiently organize, analyze, and automate their risk and claims data, ultimately enhancing their risk management capabilities. The company was previously known as Livyer Enterprises Ltd. before rebranding in August 2008.

Dalriada Therapeutics

Grant in 2020
Dalriada Therapeutics Inc. is a Canadian company based in Mississauga, established in 2016. It specializes in the development of novel small molecule inhibitors targeting various medical conditions, including oncology, pain modulation, and neurodegenerative and neuroinflammatory disorders. The company employs a TURN-KEY model that integrates research and development with business strategy and intellectual property management, thereby supporting global innovators in the pharmaceutical industry.

Checkfront

Series A in 2020
Checkfront, Inc. is a cloud-based booking management and e-commerce platform designed for tour providers, accommodation managers, and rental businesses globally. Founded in 2008 and headquartered in Victoria, Canada, with an additional office in Vancouver, Checkfront serves over 45,000 customers across 120 countries. The platform enables users to efficiently manage various aspects of their operations, including activities, tours, accommodations, events, and rentals, while also facilitating reservations and customer tracking. Operating on a Software as a Service model, Checkfront offers a fully managed solution that includes automated updates, backups, and robust security, ensuring high-speed and reliable service for its clients.

Dr. Bill

Acquisition in 2020
Dr. Bill is a Vancouver-based company that creates mobile and web-based medical billing software specifically for Canadian physicians. Founded in 2014, Dr. Bill offers a user-friendly platform that allows healthcare providers to efficiently manage their billing practices while on the go, whether they are in hospitals, clinics, or operating rooms. The application enables physicians to quickly log claims by simply taking a picture, streamlining the billing process to under 30 seconds. It provides comprehensive features such as claims management, compliance tracking, patient eligibility checks, and payment processing, all while ensuring that billing records are securely stored on Canadian servers. As a subsidiary of RBC Ventures Inc., Dr. Bill positions itself as a seamless extension of medical practices, facilitating effective billing and offering support through accessible staff and billing agents.

TouchBistro

Series E in 2019
TouchBistro, Inc. is a company that specializes in developing iPad-based point-of-sale (POS) solutions tailored for the food and beverage industry, including restaurants, cafes, bars, and food trucks. Founded in 2010 and headquartered in New York, with an additional office in Toronto, TouchBistro provides various POS systems, such as Restaurant POS, Food Truck POS, and Bar POS, which streamline order management and payment processing. Its innovative system allows servers to take orders directly at the table, reducing the need for multiple trips to a terminal and minimizing errors. Additionally, TouchBistro offers features like TouchBistro Reservations for guest management, cloud-based reporting and analytics, and customer-facing displays, enhancing both operational efficiency and customer experience. The company's products are available through the Apple App Store in the United States and internationally.

WayPay

Acquisition in 2019
WayPay Inc. is an online payment platform based in Burlington, Canada, established in 2014. The company specializes in simplifying accounts payable for businesses by integrating with various financial institutions and credit card accounts. Its platform automates the reconciliation of payments made to both local and international suppliers, catering primarily to small and medium enterprises. By streamlining the payment process, WayPay enables businesses to manage their expenses more efficiently and cost-effectively. As of July 2019, WayPay operates as a subsidiary of Royal Bank of Canada.

Drop

Series B in 2019
Drop is a Toronto-based company that operates a personalized commerce platform, designed to enhance consumer experiences through rewards. The platform leverages machine learning to connect over 4 million members with more than 400 partner brands, enabling users to earn points on their purchases and redeem them for instant rewards. By offering an end-to-end solution, Drop facilitates a seamless connection between brands and consumers, helping merchants understand the behaviors of Millennial and Generation Z shoppers. The company aims to improve everyday consumer lives by providing tailored shopping experiences, and it has recently expanded its operations to the UK while maintaining a focus on the North American market.

Martello Technologies

Post in 2018
Martello Technologies Group Inc., founded in 1981 and headquartered in Ottawa, Canada, specializes in optimizing real-time application performance on cloud and enterprise networks. The company develops and sells products that monitor, measure, and analyze network health, ensuring reliable user experience for critical applications like Microsoft 365 and Mitel systems. Martello's solutions include Mitel Performance Analytics, Martello Gizmo, unified communications solution, Martello iQ platform, Live Maps, and technical support services. Serving diverse industries such as education, healthcare, and remote work globally, Martello aims to enhance service quality and user experience by proactively identifying and addressing network performance issues.

Composites Vci

Venture Round in 2018
Composites Vci is a transportation environmental consulting company located in Saint-lin-laurentides.

Home Capital Group

Post in 2018
Home Capital Group is a specialty finance company that operates primarily through its subsidiary, Home Trust. It provides a range of financial services, including residential and commercial mortgage lending, as well as the securitization of insured mortgage products. The company also offers consumer lending and credit card services. Home Capital Group caters to homeowners who may not meet the strict criteria of traditional financial institutions. Additionally, it provides deposit services through brokers and financial planners, as well as its direct-to-consumer deposit brand, Oaken Financial. With a presence across Canada, Home Capital Group has offices in several provinces, including Ontario, Alberta, British Columbia, Nova Scotia, Quebec, and Manitoba.

CoPower

Venture Round in 2017
CoPower Inc., founded in 2013 and headquartered in Canada, operates a sustainable investment platform that streamlines clean energy investing. The company provides an online crowdfunding service that allows investors to direct their capital toward energy efficiency and renewable energy generation projects. CoPower focuses on delivering solid financial returns while also promoting measurable environmental impact. Since its inception, the company has facilitated more than $2.5 million in clean energy loans and is recognized as a Certified B Corporation, reflecting its commitment to social and environmental performance.

Assent Compliance

Series B in 2017
Assent Compliance, established in 2005 and based in Ottawa, Canada, specializes in providing software solutions for supply chain sustainability management. The company's core offering is a comprehensive platform that helps complex manufacturers navigate product compliance, trade compliance, and ESG (Environmental, Social, and Governance) responsibilities. This platform includes modules for managing materials compliance, ethical sourcing, inspections, supplier management, and supply chain data collection, all accessible through a single dashboard. Assent's solutions enable businesses to monitor and manage their compliance portfolio, gather and analyze data, and receive alerts based on user-defined metrics. Additionally, the company offers regulatory compliance consulting, assessment, and outsourcing services to support clients in meeting local and international regulations.

Wave

Series D in 2017
Wave makes running a small business better by providing free accounting, invoicing, affordable credit card processing (payments) and payroll. Over 3 million small business owners, in more than 200 countries around the world, rely on WaveApps to run their business. Wave was founded in 2009 and is headquartered in Toronto, Canada.

Next AI

Venture Round in 2017
NextAI is an accelerator and founder development program based in Montréal and Toronto, designed for early-stage AI-enabled startups. It targets exceptional teams and individuals from around the globe who aim to commercialize AI research and establish global enterprises. As an innovation hub, NextAI leverages Canada's strong position in artificial intelligence to provide these startups with essential resources, including capital, mentorship, education, and a robust network of business leaders and entrepreneurs. Participating teams can access up to $200,000 in funding, guidance from renowned faculty and scientists, and state-of-the-art AI tools, all aimed at fostering disruptive innovation in various industries.

Big Viking Games

Debt Financing in 2016
Big Viking Games is a prominent developer of free-to-play social and mobile games, focusing on HTML5 technology to create a unified gaming experience across various platforms, including iOS, Android, Facebook, and mobile web. Founded in 2011 by serial entrepreneur Albert Lai and industry veteran Greg Thomson, the company has expanded to employ over 100 individuals in its Toronto and London offices. Big Viking Games has achieved profitability and is recognized for its exceptional workplace culture, consistently being listed among the top employers in Canada. The company aims to enable game enthusiasts to easily access and enjoy its titles through direct downloads from application stores.

University of New Brunswick

Grant in 2016
The University of New Brunswick (UNB) is one of Canada's oldest English-language universities and one of the first public universities established in North America. Founded in 1785, the multi-campus institution is home to over 60 research centres and institutes, groups and ongoing projects. The university offers over 75 undergraduate and graduate programs in 14 faculties to more than 10,500 students at campuses in Fredericton and Saint John from more than 100 countries, and several thousand more take UNB courses online and at partner institutions around the world. As the largest research institution in New Brunswick, UNB conducts more than 75 per cent of the province’s university research.

Assent Compliance

Series A in 2016
Assent Compliance, established in 2005 and based in Ottawa, Canada, specializes in providing software solutions for supply chain sustainability management. The company's core offering is a comprehensive platform that helps complex manufacturers navigate product compliance, trade compliance, and ESG (Environmental, Social, and Governance) responsibilities. This platform includes modules for managing materials compliance, ethical sourcing, inspections, supplier management, and supply chain data collection, all accessible through a single dashboard. Assent's solutions enable businesses to monitor and manage their compliance portfolio, gather and analyze data, and receive alerts based on user-defined metrics. Additionally, the company offers regulatory compliance consulting, assessment, and outsourcing services to support clients in meeting local and international regulations.

CoPower

Seed Round in 2015
CoPower Inc., founded in 2013 and headquartered in Canada, operates a sustainable investment platform that streamlines clean energy investing. The company provides an online crowdfunding service that allows investors to direct their capital toward energy efficiency and renewable energy generation projects. CoPower focuses on delivering solid financial returns while also promoting measurable environmental impact. Since its inception, the company has facilitated more than $2.5 million in clean energy loans and is recognized as a Certified B Corporation, reflecting its commitment to social and environmental performance.

HighRoads

Series C in 2008
HighRoads, Inc. specializes in developing cloud-based benefits plan management and compliance solutions tailored for the health care market. Its flagship product, P2 Advance, is a SaaS-based enterprise solution that addresses the challenges faced by payers through comprehensive product and plan configuration, media management, and compliance document generation. The platform streamlines the entire product creation process, allowing clients to develop and launch new health care products quickly and efficiently, while ensuring accuracy and compliance with regulatory requirements. By automating many manual processes, HighRoads enables payers to reduce administrative costs and focus on innovative offerings that meet customer demands. Founded in 1999 and originally named IE-Engine, Inc., HighRoads is headquartered in Burlington, Massachusetts, with an additional office in Ottawa, Canada.

Neuromed Pharmaceuticals

Series E in 2007
Neuromed Pharmaceuticals is focused on the development, production, and marketing of pain therapies in Canada and the United States. Neuromed Pharmaceuticals was acquired by Zalicus in December 2009. Neuromed Pharmaceuticals was founded in 1998 and is based in Vancouver, Canada.

Neuromed Pharmaceuticals

Series D in 2006
Neuromed Pharmaceuticals is focused on the development, production, and marketing of pain therapies in Canada and the United States. Neuromed Pharmaceuticals was acquired by Zalicus in December 2009. Neuromed Pharmaceuticals was founded in 1998 and is based in Vancouver, Canada.

HighRoads

Series A in 2004
HighRoads, Inc. specializes in developing cloud-based benefits plan management and compliance solutions tailored for the health care market. Its flagship product, P2 Advance, is a SaaS-based enterprise solution that addresses the challenges faced by payers through comprehensive product and plan configuration, media management, and compliance document generation. The platform streamlines the entire product creation process, allowing clients to develop and launch new health care products quickly and efficiently, while ensuring accuracy and compliance with regulatory requirements. By automating many manual processes, HighRoads enables payers to reduce administrative costs and focus on innovative offerings that meet customer demands. Founded in 1999 and originally named IE-Engine, Inc., HighRoads is headquartered in Burlington, Massachusetts, with an additional office in Ottawa, Canada.

INEA Corporation

Series B in 2004
INEA Corporation is a privately held company based in Toronto, Ontario, founded in 1992. It specializes in providing performance management software solutions tailored for the financial services industry. The company's integrated platform offers a range of functionalities including enterprise planning, forecasting, modeling, profitability analytics, and management and regulatory reporting. INEA Corporation serves large and complex organizations with diverse lines of business and operational needs, ensuring they can effectively manage their performance. Additionally, the company offers enterprise rollout, technical support, and training services. INEA has sales operations in North America and the United Kingdom, catering to a global clientele.

Neuromed Pharmaceuticals

Series C in 2003
Neuromed Pharmaceuticals is focused on the development, production, and marketing of pain therapies in Canada and the United States. Neuromed Pharmaceuticals was acquired by Zalicus in December 2009. Neuromed Pharmaceuticals was founded in 1998 and is based in Vancouver, Canada.

Megawheels

Venture Round in 2001
Megawheels is a global technology solutions company that offers media platforms to the newspaper industry. The company offers custom branded market places for newspapers, magazines, cable companies, and television and radio stations and hosts national affiliate programs under its own brands. It also provides software solutions for the marketplace. Megawheels was founded in 1995 and is based in Alberta, Canada.

Xenon Pharmaceuticals

Venture Round in 2001
Xenon Pharmaceuticals Inc. is a clinical-stage biopharmaceutical company based in Burnaby, Canada, focused on developing therapeutics for neurological disorders. The company's clinical pipeline includes several product candidates aimed at treating epilepsy, such as XEN496 and XEN1101, both Kv7 potassium channel modulators currently in Phase II trials, and XEN901, a selective Nav1.6 sodium channel inhibitor in Phase I trials. Additionally, Xenon is developing XEN007, a central nervous system-acting calcium channel modulator, also in Phase I trials. The company leverages insights from genetic research, particularly from families with severe phenotypes, to identify drug targets, which may extend beyond rare genetic disorders. Furthermore, Xenon has established a collaboration with Neurocrine Biosciences to advance the development of innovative epilepsy treatments.

Neuromed Pharmaceuticals

Series B in 2001
Neuromed Pharmaceuticals is focused on the development, production, and marketing of pain therapies in Canada and the United States. Neuromed Pharmaceuticals was acquired by Zalicus in December 2009. Neuromed Pharmaceuticals was founded in 1998 and is based in Vancouver, Canada.

Baylin Technologies

Baylin Technologies Inc., headquartered in Toronto, Canada, is a global technology company specializing in the wireless sector. With over 35 years of experience, it designs, manufactures, and markets a wide range of passive and active radio frequency and terrestrial microwave products. The company offers an extensive portfolio of innovative antennas, both off-the-shelf and custom engineered solutions, catering to the mobile, broadband, and wireless infrastructure markets. Baylin's products are marketed under well-known brand names, including Galtronics, Advantech Wireless, Alga Microwave, and Mitec VSAT, positioning the company as a trusted partner in meeting customer needs from initial design through to production.
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