Investment Summary

Spring Mountain Capital and BDC Capital Invest In Thentia

On May 4, 2021, growth capital firms Spring Mountain Capital and BDC Capital invested in internet software and services company Thentia

Investment Highlights
  • This is Spring Mountain Capital’s 3rd and BDC Capital’s 2nd transaction in the Internet Software and Services sector.
  • This is Spring Mountain Capital’s 1st and BDC Capital’s 18th transaction in Canada.
  • This is Spring Mountain Capital’s 1st and BDC Capital’s 5th transaction in Ontario.

Investment Summary

Date 2021-05-04
Target Thentia
Sector Internet Software and Services
Investor(s) Spring Mountain Capital
BDC Capital
Deal Type Venture
Advisor(s) Blake, Cassels & Graydon (Legal)

Target

Thentia

Toronto, Ontario, Canada
Thentia was developed by subject matter experts with a mission to transform GovTech through best-in-class technological capabilities. Its secure, modern and elegant solution, Thentia Cloud is revolutionizing the way agencies manage data and licensing by bringing the entire process into the 21st century with speed, automation, ease-of-use and best-in-class support. Thentia is based in Toronto, Ontario.

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Investor(S) 2

DESCRIPTION

Spring Mountain Capital is a growth capital firm focused on providing expansion capital to tech-enabled companies across North America. The Firm looks to invest in earlier stage companies ($2 to $20 million of revenue) with high growth rates, proven products/services, and a path to profitability. Spring Mountain generally looks to commit $5 to $15 million per transaction. Spring Mountain Capital was formed in 2001 and is based in New York City.


DEAL STATS #
Overall 25 of 29
Sector: Internet Software and Services M&A 3 of 4
Type: Venture M&A Deals 15 of 18
State: Ontario M&A 1 of 1
Country: Canada M&A 1 of 1
Year: 2021 M&A 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-18 180 Health Partners

Franklin, Tennessee, United States

180 Health Partners deploys teams of experienced counselors, social workers, nurses, and peer support specialists who partner with qualified providers, health plans and their expecting mothers to stabilize all aspects of their lives and support their goals for themselves and their babies. 180’s cross-functional care teams provide personalized engagement and care plans for expecting mothers to simplify the complex balance of their medical, addiction, behavioral, environmental and lifestyle needs by directly filling the gaps in care while also matching members with the best team of resources for each member’s specific journey. 180 is focused on preventing the occurrence of and/or drastically reducing the severity of NAS while also establishing a stabilized social framework for the mother’s long-term success in sobriety and motherhood.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-02 Home Captain

Brooklyn, New York, United States

Home Captain offers a web and mobile MLS-integrated home search app, an AI-powered chatbot, multiple world-class real estate concierge services, portfolio retention services, and a patent-pending agent matching technology. Home Captain was founded in 2013 and is based in Brooklyn, New York.

Sell -
DESCRIPTION

BDC Capital is the direct investment arm of financial services firm BDC. BDC Capital looks to invest in and provide financing to venture and growth-stage Canadian companies. The Firm's growth-stage investment unit looks to commit $3 to $35 million for minority positions in mid-market companies focused on growth. The Group does not have any sector preferences but does prefer to invest in profitable companies. BDC Capital is headquartered in Montreal.


DEAL STATS #
Overall 20 of 35
Sector: Internet Software and Services M&A 2 of 2
Type: Venture M&A Deals 4 of 4
State: Ontario M&A 5 of 7
Country: Canada M&A 18 of 33
Year: 2021 M&A 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-09 LiveBarn

Montreal, Quebec, Canada

LiveBarn is a provider of Live & On-Demand broadcasting of amateur and youth sporting events. Their patented technology and camera system automatically follow the flow of the game - similar to a traditional television broadcast. LiveBarn currently broadcasts from over 1,500 facilities, including hockey, baseball, soccer, and basketball venues. LiveBarn was founded in 2014 and is based in Montreal, Quebec.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-22 Agendrix

Sherbrooke, Quebec, Canada

Agendrix provides a web and mobile application that simplifies schedule, timesheet, and payroll management. It is now used in more than 8,000 small and medium-sized workplaces in sectors as diverse as retail, food services, seniors housing, and construction, among others. Agendrix was formed in 2015 and is based in Sherbrooke, Quebec.

Buy -