VICTORIA – Victoria’s Certn, a background screening company, has secured $30M more in financing from the business Development Bank of Canada.
“BDC’s partnership represents a significant milestone for Certn and reflects their confidence in our leadership and strategic direction,” said Andrew McLeod, CEO of Certn. “This investment accelerates our mission to enhance trust and supports our ambitious growth trajectory. We’re excited to continue refining our global offering, empowering users to manage background screening with greater control and efficiency.”
Certn is considered a global leader in online background screening and helps businesses of all sizes and in all industriesknow exactly who they are hiring and who they are renting to. The $30M investment will enable the company to further expand its AI- and automation-powered background checks.
The Business Development Bank of Canada’s investment arm, BDC Capital, has committed an additional $500-million to its Growth Venture Fund (GVF) and $450-million to its Growth Equity Partners (GEP) program.
According to the BDC press release: “This new capital will help Canada’s next generation of global champions access the capital they need and help buoy the current chilling effect within the investment ecosystem.”
While BDC Capital has 12 different funds that invest in business growth, the current investment is for later-stage companies facing challenges, as well as empowering promising early-stage firms with needed resources. Their focus is on businesses that show strong potential for meaningful scale.
The Fund will invest up to $100M per year in late-stage technological companies that leverage innovative technologies and business models in various areas such as: Artificial intelligence (AI) and machine learning (ML) applications for eCommerce, Blockchain technology for Fintech, Cybersecurity, etc
“A healthy ecosystem requires a balance of funding across all stages of the business lifecycle”, says Geneviève Bouthillier, Executive Vice-President, BDC Capital. “That’s why BDC acts as an enabler, offering support and financing to all entrepreneurs, regardless of their size, stage or sector. Entrepreneurs are the doers that build businesses, communities, and economies. By investing in their growth, BDC is propelling a variety of Canadian champions for the next decade.”
As well as Certn, StackAdapt of Toronto received funding as well as BCES Global of Ottawa and the Dissan Group of Montreal.
Business Examiner Staff
