Ottawa-based 1Valet has raised $15 million from one of Canada’s largest banks to help fund its scaleup push. The prop-tech firm announced this week it has received a revolving credit facility from Scotiabank and Roynat Capital, a wholly owned subsidiary of Scotiabank. The Ottawa company said the arrangement will provide “non-dilutive growth capital” to help […]
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Ottawa-based 1Valet has raised $15 million from one of Canada’s largest banks to help fund its scaleup push.
The prop-tech firm announced this week it has received a revolving credit facility from Scotiabank and Roynat Capital, a wholly owned subsidiary of Scotiabank.
The Ottawa company said the arrangement will provide “non-dilutive growth capital” to help accelerate 1Valet’s sales expansion across North America.
“This facility lets us invest directly in our North American growth, expand our sales capabilities, and continue delivering the technology and service our customers rely on every day,” 1Valet chief executive Demetrios Barnes said in a news release.
“Our focus remains clear: deepen the value we deliver to existing customers, expand our footprint, and bring the 1Valet platform to more multifamily portfolios across North America.”
The firm’s platform provides condo and apartment dwellers with features such as keyless entry, remote thermostat control and automatic package delivery alerts. Its software also uses AI facial recognition technology to allow users to unlock doors and lets couriers enter apartment lobbies by scanning a package’s barcode, among other features.
The company says more than 300 developers, owners and property managers across North America now use the platform.
The funding announcement follows 1Valet’s hiring of prop-tech industry veteran Isaiah DeRose-Wilson as chief hardware officer earlier this month.
DeRose-Wilson co-founded property management software-maker SmartRent, where he served as chief technology officer and helped guide the firm’s rise to a publicly traded company. He reunites with former colleague Barnes, who helped launch SmartRent in 2017 and served in various executive roles at the company before taking the helm at 1Valet earlier this year.
Kinaxis raises guidance after strong Q2 results
Supply chain management software powerhouse Kinaxis is raising its 2026 guidance after its revenues increased 16 per cent year-over-year to $158.8 million in the quarter ending June 30.
The Kanata-based firm, which keeps its books in U.S. dollars, reported a second-quarter profit of $21.2 million, or 76 cents per diluted share, up from $18.4 million, or 64 cents per diluted share, a year earlier.
Kinaxis’s adjusted EBITDA of $41.3 million was up 23 per cent from the same period a year ago.
The firm’s subscription-based software-as-a-service revenues rose 20 per cent compared with a year earlier to $106.5 million, while its annual recurring revenues were up 19 per cent to $465.6 million.
The company is now projecting revenues of between $625 million and $640 million in fiscal 2026, up from its earlier forecast of $620 million to $635 million. Kinaxis expects its SaaS revenues to grow between 18 and 20 per cent year-over-year, an increase from its earlier projection of 17 to 19 per cent.
“We delivered a strong second quarter, fueled by continued execution and customer momentum from both new and existing customers, as many of the world's largest enterprises turn to Kinaxis to manage growing demand, volatility, uncertainty and complexity,” CEO Razat Gaurav said in a news release earlier this month, adding the publicly traded firm has reported the “strongest first half” in its history.
Defsec Technologies raises $5.54M in private placement
Defsec Technologies has raised $5.54 million in a private placement aimed at fuelling its growth.
The Ottawa-based company said earlier this month it has issued and sold 1,951,219 common shares or pre-funded warrants in lieu of shares at a price of $2.84 per common share and common share purchase warrants.
Defsec said each common warrant is immediately exercisable to acquire one common share at a price of $3.30 for a period of 60 days following the closing of the offering on Aug. 18. Each pre-funded warrant is immediately exercisable to acquire one common share at a price of $0.001 per common share.
The firm said it intends to use the net proceeds from the offering for “business and market development, intellectual property protection and registrations and general working capital purposes.”
The move follows Defsec’s $2.5-million direct share offering in June.
Defsec trades on the Nasdaq in the U.S. and the TSX Venture Exchange in Canada. The company, which was founded in 2017 and went public three years later, rebranded from its original name of Kwesst Micro Systems last year.
The firm specializes in three main product lines: systems that feed real-time information to soldiers in the field; measures that counteract deadly lasers and other space-age weaponry; and equipment such as high-tech anti-riot munitions designed to subdue aggressive protesters and other belligerents.
Defsec reported revenues of $2.7 million for the quarter ending June 30, up from $1.4 million a year earlier. The firm posted a net loss of $2.6 million, or $1.28 per share, compared with a loss of $2.3 million, or $3.69 per share, in the same period in 2025.
Martello revenues fall as firm shifts focus to Mitel
Martello Technologies’ revenues fell more than six per cent year-over-year in the quarter ending June 30 as the company continues to phase out older software aimed at Microsoft users in favour of new products tailored to Mitel customers.
The Kanata-based firm, which makes troubleshooting software for cloud-based business applications, said last week its revenues for the first quarter of fiscal 2027 were $2.9 million compared with $3.1 million in the same period a year earlier.
Martello turned a profit of $392,000 in the first quarter, compared with a loss of $2.13 million a year earlier.
The firm said that while revenues from its sunsetting legacy products fell 30 per cent year-over-year, sales from its Mitel business channel jumped nine per cent to $1.64 million in the first quarter. Martello said the companies are “exploring new go-to-market models” in a bid to further boost revenues from Mitel users.
"With improved profitability and positive operating cash flow providing a strengthened financial position and continued progress on our strategic priorities, we believe Martello is well-positioned to invest in future growth opportunities,” CEO Jim Clark said in a news release.
Martello, which trades on the TSX Venture Exchange, said last fall it was cutting half its workforce and would stop producing software designed for Microsoft products as it focuses on building its Mitel customer base and developing new artificial intelligence products.
