Earlier this year, the Ontario Teachers’ Pension Plan Board (OTPPB) approved a plan to raise $50 million in Series Capital from the Wiggers Venturebeat. This would help the pension fund to improve the return on investment of its funds. Previously, the pension fund had been losing money on investment. In fact, in the last four years, it had been making a loss every year. The fund is planning to reorganize the structure of its funds and reinvest them in the most promising areas of technology, energy, and education.
Founded by a teenager, Quinyx, a Stockholm-based workforce management platform has raised over $103 million in venture capital funding. The company, which uses artificial intelligence to automate time reporting, scheduling, and shift switching, has more than 300 employees and offices in Sweden, Norway, the U.S., Germany, and Finland. Its largest installation consists of 70,000 employees.
Quinyx AB, as the name implies, is a Swedish-based startup that has received support from Zobito AB, Alfven & Didrikson Invest AB, and Battery Ventures L.P. The company’s most recent round, a $50 million Series C funding round, was led by Battery Ventures. The company says the round will be used to fund acquisitions and expand its U.S. presence. The company also plans to spend the money on product research and hiring.
Founded in 2008, Battery Ventures has invested more than 450 companies worldwide. The firm takes majority stakes in growth companies, excluding seed stage deals. The firm is known for backing innovative companies in industries such as technology, automotive, and consumer internet services. It is based in Silicon Valley, with offices in Israel and Boston. Since its inception, Battery has made 73 total IPOs and has completed 195 M&A events. Batteries’ portfolio includes companies such as Coinbase, Scodix, and Olo.
Battery has a global team and invests in companies at all stages, from early-stage to late-stage. The firm will continue to expand its focus on major-growth investments, including energy innovation, industrial technology, and life-science tools.
Battery Ventures recently closed a series capital 50 million venturebeat investment in Quinyx, a platform for time reporting and gig scheduling. The company plans to use the capital to further product development and hiring. The fund also announced that it would invest in several other new companies.
Ontario Teachers’ Pension Plan Board
Previously known as the Teachers’ Innovation Platform, Ontario Teachers’ Pension Plan Board has launched a new growth equity platform called Teachers’ Venture Growth (TVG). The new fund will raise up to $50 million in series capital and will focus on emerging technology companies in the United States. The new fund will have an office in San Francisco and will more than double the size of its current portfolio.
The fund invests in both growth capital and late-stage venture capital. Its investment strategy is structured to generate returns that are commensurate with the risk involved. Since its inception, TVG has delivered on its goals, achieving a return on investment of more than ten percent for its investors. However, not all investments meet expectations.
Earlier this year, a venture capital firm led a $50 million Series D round for a startup that was labeled by the company as one of the ten most innovative startups outside of Silicon Valley. The company, called Pendo, specializes in product management software for businesses. Its CEO, Todd Olson, launched the company in 2013. When the company announced its most recent funding, it raised more money than was planned. In addition to attracting investors, the company has an enviable clientele, including Intuit, Dropbox, and Adobe.
Despite its focus on the technology industry, the website is targeted at business decision makers. The site is a virtual marketplace for technological decision makers and provides in-depth analysis of business opportunities. The site also features a syndication deal with leading media outlets.