Canada’s Startup News of the Week (9/18/22)


Also: Shopify looks to be hiring, hiring talent with new employee comp.

Welcome to BetaKit Startup Stories of the Week! Here, you’ll find the week’s most important news, features and editorials published on Beta Kit. If you prefer this update to have it hit your inbox every week, be sure to sign up for the BetaKit newsletter using the form at the bottom of this page.

The main news of the week


Raven Capital sees the US market as it raises $46 million for a second fund.

“This is a very difficult environment to grow in. [in]Paul Lacerte, managing partner of Raven Capital, told BetaKit.


Shopify has rolled out a new workers’ compensation system to hire and retain talent amid the stock slump.

Shopify has finally introduced its new compensation system, Flex Comp, which allows Shopify employees to make up the difference in pay between cash and equity.


SkipTheDishes lays off 350 workers following global workforce review by parent company Just Eat

SkipTheDishes has laid off 350 employees, citing the need to ensure sustainable growth for the parent company. With more than 3,000 employees, according to LinkedIn, the layoffs will account for approximately 11 percent of SkipTheDishes’ workforce.


Idealist Capital has received an initial close of $250 million for a new climate impact fund

Led and created by Quebec business veterans Pierre LaRochelle and Steve Robitaille, Idealist seeks to invest in technology companies focused on energy systems, industries and the circular economy, as well as electric vehicles.


Communitech acquires Briefed.in to add data-driven insights to the event

Communitech CEO and President Chris Albinson told BetaKit in an interview that the acquisition of Briefed.in aims to better understand how it can support startups by extending the capabilities of the center’s existing “data engine.”


Startup Curriculum: How Dal Innovates Embraces Innovation Education in Atlantic Canada

Halifax Dalhousie University (“Dal”), through its award-winning program Dal Innovates, is working to deliver a number of programs that encourage and support the integration of this education into the creative economy.


Recent funding, acquisitions and layoffs


Couldn’t buy city google search

“This is the rise and fall of a company with hundreds of millions of dollars at stake and nothing to say about it.”

Globe and Mail reporter Josh Oken talks about his new book, Side by Side: Google Couldn’t Buy It.


Canadian tech is (still!) hiring

I’m only concerned about getting tech talent.

Nora Jenkins Townson (Bright + Early) and Meagan Simpson (BetaKit) join to explain why more than 350 companies are still looking to hire Canadian tech talent in the midst of recession.


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