ShopLocket, TribeHR snag American VC deals

Two Canadian tech startups announced financing deals that included backing from U.S. venture capital firms Wednesday.

Toronto-based ShopLocket landed a deal worth $1million in a roundco-led by U.S.-based Valar Ventures, while TribeHR of Waterloo, Ont.said it had raised $2.5 million in a round involving American VC MatrixPartners.

ShopLocket co-founders AndrewLouis and Katherine Hague.

Matrix had also led a $1 million financing in TribeHR during a previousround back in July 2011. TribeHR’s latest financing was led by CanadianVC firm Relay Ventures, which also invested in ShopLocket’s newfinancing deal. Other investors in ShopLocket’s deal include RhoCanada, Extreme Venture Partners and BDCVenture Capital.

ShopLocket provides an e-commerce solution aimed at small andindependent businesses that want to sell their goods online withoutsetting up a full Web site or e-storefront. TribeHR makes a socialmedia type of platform used by small and medium sized businesses forhuman resource management.

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Jim Love, Chief Content Officer, IT World Canada

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