Certn and Quadshift Secure $53 Million from BDC Capital
Summary
Victoria-based startup Certn and Toronto-based company Quadshift have collectively secured $53 million in funding from the Business Development Bank of Canadas (BDC) enhanced venture capital arm. Certn, a background-check technology startup founded in 2016 by Andrew McLeod, Evan Dalton, and Owen Madrick, raised $30 million from BDC Capitals Growth Venture Fund. Certn is currently under investigation by federal and BC privacy commissioners regarding data use, a process with which the company is cooperating. Meanwhile, Quadshift, a B2B software rollup company founded in 2017, secured $23 million in an all-equity round led by BDC Capitals Growth Equity Partners, alongside Celtic House Venture Partners and other investors. BDC Capital, Canadas largest venture capital investor, has recently increased its funding capabilities with nearly $1 billion injected into its Growth Venture Fund and Growth Equity Partners program.