The Globe and Mail reports in its Thursday edition that Solink, an Ottawa company that sells artificial-intelligence software to monitor business operations in more than 35,000 restaurants, stores and other locations, has raised $100-million (U.S.) in growth capital.
The Globe's Sean Silcoff writes that Vertu Capital led the financing, backed by Goldman Sachs' GS Growth unit and new investors Golub Growth and Comcast Ventures. About 90 per cent of the amount raised went to Solink; the rest was paid to early investors for their stakes.
"We thought it was important to bring on another Canadian backer," as the country seeks to assert its economic strength at a time of geopolitical uncertainty, Solink's chief executive officer Mike Matta said. "As a Canadian founder, I'm very passionate about building a category-defining business that just happens to be in Canada."
Ottawa technology billionaire Terry Matthews was an early investor. Last year, he gave up office space occupied by his Wesley Clover International holding company to accommodate Solink's expansion. Solink now has 350 employees, up fourfold since 2021.
Vertu partner Eric Kafka says, "We see a huge market opportunity. Solink is well-positioned to take that."
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