ScaleUP Ventures
Venture capitalToronto Β· SeedβLate Stage
Investment thesis
ScaleUP Ventures invests in early-stage Canadian technology companies, providing not only capital but active, hands-on involvement from fund founders who have built billion-dollar exit companies. The firm supplies mentorship, connections and expertise to help portfolio companies reach market faster and scale globally. Backed by private investors and provincial commitments from Ontario and British Columbia, ScaleUP aims to strengthen the Canadian technology sector and broader economy. The team emphasizes being deep, engaged users of their investees' products and maintaining honest, straightforward relationships with founders.
Source: firm website, verified Aug 3, 2026.
What they invest in
from 22 of 25 portfolio companiesSaaS Γ13AI & Machine Learning Γ9Enterprise Software Γ8Fintech Γ5Cybersecurity Γ4Data & Infrastructure Γ3Sales Tech Γ3Developer Tools Γ2
HQs:CanadaΓ8United StatesΓ3Saudi ArabiaΓ1
Investments Β· 25 tracked
founders shown can be your intro pathMedStack provides a compliance platform that lets developers deploy healthcare applications on their choice of cloud provider while automatically meeting healthcare privacy regulations and industry security requirements (such as PHI protection and SOC 2).
CybersecurityDeveloper ToolsDigital HealthHealthtech
Balaji Gopalan(Co-founder)Simon Woodside(Co-founder)
Co-investorsBCF VenturesArchangel Network of FundsArgonautic VenturesBlu Venture InvestorsPanache VenturesTELUS Ventures+1 more
Cinchy provides a Data Collaboration Platform that integrates enterprise data across systems with governance controls, and offers PeriMind, a governance layer for AI agent access to enterprise systems.
AI & Machine LearningCybersecurityData & InfrastructureEnterprise SoftwareToronto, CA
Karanjot Jaswal(Founder)in
Co-investorsForgePoint CapitalTechstars
Coconut Software provides a platform for banks and credit unions that combines appointment scheduling, lobby and workforce management, video banking, and branch analytics.
Enterprise SoftwareFintechSaaS
Co-investorsConexus Venture CapitalKlass Capital
Dooly was a CRM integration platform for sales teams, but the company is shutting down on June 30, 2025.
Sales Tech
Co-investorsMantis CapitalPallasite VenturesReshape
FundThrough provides invoice factoring and funding technology that lets small businesses convert unpaid invoices into working capital quickly.
FintechSaaSToronto, CA
Steven Uster(Co-Founder & CEO)in
Co-investorsCanadian Business Growth Fund
Ottawa-based subscription billing and management platform, now operating as Stax Bill after its 2021 acquisition by Fattmerchant.
Co-investorsOMERS Ventures
#paid operates a creator marketplace that connects brands and content creators for influencer marketing campaigns, along with creative strategy support and post-campaign performance reporting.
Creator EconomyMarketing TechMarketplacesToronto, CA
Bryan Gold(Founder)
Co-investorsBackbone AngelsTribe CapitalTwo Small Fish VenturesGood News VenturesVanedge Capital
Mavencare connects seniors requiring home care with their families through a mobile platform that provides real-time updates on care appointments, medication reminders, and caregiver monitoring.
B2B MarketplacesDigital HealthHealthtechToronto, CA
Co-investorsExtreme Venture PartnersExtreme Venture Partners LLP
Mojix provides real-time, item-level visibility and asset management software for supply chains, serving retailers, luxury brands, food companies, and industrial manufacturers.
IoTLogistics & Supply ChainSaaSBoca Raton, US
Ramin Sadr(Executive Officer, Director)Jeffrey Hart(Chief Executive Officer)inGustavo Rivera(Chief Technical Officer)in
BoardEric Copeland(Director)Robert Todd(Director)Kent Thexton(Director)
Co-investorsOak Investment PartnersRunway Growth CapitalOMERS Ventures
Naborly helps landlords and property managers screen rental applicants, identify suitable tenants, and guarantee monthly rental payments through tenant vetting and payment protection services.
AI & Machine LearningFintechPropTechToronto, CA
Dylan Lenz(Founder/CEO)inAnastasia Fox(Co-Founder)Zeke Kan(Co-Founder)
Co-investors2.12 AngelsPICUS CAPITALY CombinatorFirst Round Capital
Nylas provides unified communication data infrastructure that integrates email, calendar, contacts, and meetings across fragmented providers into structured, AI-ready data for SaaS applications and automated workflows.
AI & Machine LearningData & InfrastructureDeveloper ToolsEnterprise SoftwareSaaSSan Francisco, US
Christine Spang(Co-Founder)inJeff Koets(CEO)
Co-investors8VCBroom VenturesCrunchFundDCVC (Data Collective)Founders.aiGreat Oaks Venture Capital+5 more
Penny is an AI source-to-pay platform that manages the full procurement cycle β sourcing, RFQs, contracts, suppliers, purchase orders, and spend β in one system.
AI & Machine LearningEnterprise SoftwareSaaSRiyadh, SA
Iyad Aldalooj(Founder)
Co-investorsIliad PartnersOutliers VCSalica InvestmentsShorooq PartnersWamda CapitalAcronym Venture Capital
Penny provides an AI-powered platform for social sellers and direct sales teams, offering AI script generation, micro-learning modules, and daily action prompts to drive prospecting, customer follow-up, and repeat business.
AI & Machine LearningSaaSSales Tech
Co-investorsWUTIF Capital
Plooto provides a payment platform for accounting firms and their SMB clients to manage accounts payable, accounts receivable, and international payments with automated workflows and integration with accounting software.
Enterprise SoftwareFintechSaaS
Co-investorsCentana Growth PartnersGolden VenturesLuge CapitalFINTOP Capital
Co-investorsSozo Ventures
Rose Rocket provides software that enables transportation and trucking companies to conduct logistics operations through digital tools rather than traditional phone and email communication.
Enterprise SoftwareLogistics & Supply ChainToronto, CA
Alexander Luksidadi(Founder/CTO)in
Co-investorsFundersClubRipple VenturesShine CapitalY CombinatorScale Venture Partners
Sonder operates a hospitality platform offering managed short-term rental accommodations across multiple cities globally, combining contemporary design with technology-enabled services for guests.
MarketplacesPropTechTravel & HospitalitySan Francisco, US
Francis Davidson(Co-Founder & CEO (2014β2025))inMartin Picard(Co-Founder)Lucas Pellan(Co-Founder)Sanjay Banker(President & Chief Financial Officer)Satyen Pandya(Chief Technology Officer)Daniel Cornwell(Interim Co-CEO (from June 2025))
Co-investorsAkkadian VenturesAlate PartnersBDC Venture CapitalBlackbird VenturesFounderFuelGreylock Partners+4 more
SortSpoke provides AI-powered document processing for insurance underwriting, extracting data from unstructured submissions like emails, applications, SOVs, and loss runs while keeping underwriters in control.
AI & Machine LearningInsurTechSaaS
Co-investorsNAventuresIDEA Fund PartnersSixThirty Ventures
Co-investorsAscent Venture PartnersContour Venture PartnersinfoShareValence VenturesRed Sea VenturesStudio VC
Wysdom (part of the Verint CX Automation Platform) provides chatbot and conversation analytics software that captures interaction data from voice and digital bots and surfaces KPIs like containment rate, cost per chat, and customer experience in a unified dashboard.
AI & Machine LearningEnterprise SoftwareSaaS
Co-investorsBrightspark VenturesMindset VentureExtreme Venture PartnersMantella Venture Partners
Exits Β· 1
IPOs and acquisitions across the tracked portfolioNaborlyacq. by SingleKey
Portfolio news
latest coverage across their companies
Penny Β· simplywall.st Β· Aug 18, 2026
Sonder Β· singletrackworld.com Β· Jul 16, 2026
FundThrough Β· finder.com Β· Apr 6, 2026
Nylas Β· trysignalbase.com Β· Mar 24, 2026
Frequently asked questions
- What stage does ScaleUP Ventures invest at?
- ScaleUP Ventures invests at the Seed, Series A, Late Stage stages.
- What sectors does ScaleUP Ventures focus on?
- ScaleUP Ventures focuses on Sector Agnostic.
- Where is ScaleUP Ventures located?
- ScaleUP Ventures is headquartered in Toronto, CA.
- Does ScaleUP Ventures lead rounds?
- ScaleUP Ventures typically participates in rounds rather than leading them.
Co-investors Β· 8
Picus Capital is a privately financed venture capital investor focused on early-stage technology ventures, having backed over 170 companies with a long-term, entrepreneur-aligned approach.
Global Founders Capital (GFC) is the global venture capital platform of Rocket Internet, investing early and across sectors in fast-growing technology companies.
Latitud is an early-stage investor and community platform connecting Latin American startup talent with Silicon Valley, including a Fellowship program for founders.
Inspired Capital is an early-stage venture capital firm founded in 2019 by Alexa von Tobel and Penny Pritzker, backing founders from pre-seed through Series A across a range of sectors.
83North is a global venture capital firm that invests in and helps entrepreneurs build large, category-defining companies, backing startups across multiple stages and sectors.
Flourish Ventures is a global early-stage fintech fund that backs founders building and reshaping financial services and systems.
Cathay Innovation is a multi-stage venture capital firm founded in Paris in 2015 and backed by industry, operating a platform designed to enable collaboration between startups and corporations.
Atman Capital is an early-stage venture firm that partners with founders at the pre-seed and seed stages, offering a collaborative community model where portfolio founders are treated as partners of the fund.
Firms observed investing alongside ScaleUP Ventures, from public investor directories. Shared companies are the overlap with ScaleUP Ventures's recorded portfolio.
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