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The Venture Codex

Tandem Expansion Fund

460 McGill Suite 500, Montréal, QC, H2Y 2H2, Canada

Overview

Tandem is a growth equity investor that has been formed to make significant minority investments in Canadian technology companies with exciting commercial prospects and a unique value proposition. Beyond capital, the Tandem team actively contributes its experience in building companies, its relationships around the globe and its proven ability to create value.

Total investments
12
Lead investments
10
Investments · 12mo
0
Active investors
0

Sector focus

  • Finance
  • FinTech
  • Venture Capital
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Investment portfolio

  • Coveo

    Participated · Series D · Nov 2015

    Coveo builds AI-driven search and recommendation technology that combines unified content, unified interactions and machine learning to deliver relevant information across business interactions. The platform is embedded in many business applications including Salesforce, ServiceNow, Sitecore and Dynamics. Led by CEO and Chairman Louis Tetu, the company personalizes millions of digital experiences for customers, partners, dealers and employees. Coveo reports more than 1,500 deployments in mid-to-large sized global organizations across multiple industries. The company has about 500 employees and offices in Quebec City, San Francisco, London and Montreal. It plans to use recent funding to expand operations and broaden its business reach. Coveo builds AI-powered search, recommendation and personalization engines that unify content, interactions and machine learning to deliver relevant information across business interactions. Its solution is embedded in many business applications from vendors including Adobe, Microsoft, Salesforce, Sitecore and Xero. The company has more than 1,500 activations in mid-to-large sized global organizations across multiple industries. Led by Chairman and CEO Louis Têtu, Coveo uses its platform to personalize digital experiences for customers, partners, dealers and employees. The company plans to broaden market presence, grow its R&D team and launch new lines of business while expanding its platform on Elasticsearch to serve as enterprise-wide relevance infrastructure. Coveo offers an intelligent search platform that recommends the most relevant information, people, products and services to improve customer and employee engagement. Its product suite includes Coveo Cloud, Coveo for Salesforce, and Coveo for Sitecore, which deliver unified enterprise search, self-service support within Salesforce, and engaging website search experiences. The company plans to use the new funds to launch additional intelligent search apps for large enterprise technology ecosystems and to increase spending on sales and marketing, R&D and product teams. Coveo secured a $35M Series D and has raised $75M in financing to date. The company is based in Quebec City, Canada. The platform is positioned to surface and recommend content and experts across IT ecosystems for digital customer and employee engagement. Coveo is a Quebec, Canada–based provider of search technology and Big Data solutions that brings together information from social, enterprise and cloud systems to make it relevant to users and customers. Led by Chairman and CEO Louis Têtu, the company offers product lines that deliver insight to CRM for sales and customer service, personalized web content management experiences, and enterprise content. Coveo serves more than 400 customers, including CA Technologies, Lockheed Martin, YUM! Brands, GEICO and Boston Children’s Hospital. It recently launched Coveo for Salesforce, a cloud application integrated into the Salesforce.com UI that automatically recommends content relevant to the user's current work; the solution is available for free trial and expected to appear on the Salesforce AppExchange soon. The company raised $18m in funding to expand its sales and marketing efforts and to scale operations. In conjunction with the funding, Tandem Managing Director Andre Gauthier joined Coveo’s Board of Directors. Coveo provides enterprise search technology and information access solutions to hundreds of companies worldwide. The company markets its platform to customers including Deloitte, ESPN, Lockheed Martin, P&G, PricewaterhouseCoopers, Rabobank and the U.S. Navy. Founded in 2005 and managed by former Taleo and Copernic executives, Coveo employs 80+ people around the world. It plans to use the new capital to expand aggressively, intending to hire an additional 60 employees over the next two years, nearly doubling its workforce. Counting this Series B, the startup has raised $10.7 million to date.

  • Beyond the Rack

    Led · Equity · Nov 2013

    Beyond the Rack operates a flash-sale e-commerce site that launches roughly 8,000 new items daily and runs over 180 new sales events each week across categories including ladies' and men's fashions, home and decor, consumer electronics, furniture, footwear, children's toys and apparel, and accessories. The company was co-founded and is led by CEO Yona Shtern and has grown to more than 13 million consumer members in Canada and the United States and over 5,000 brand partners since first launching in 2009. Beyond the Rack maintains offices in Montreal, Toronto, New York and Las Vegas. The business secured a US$10M debt and banking facility to support ongoing operations. Management says the funds will be used to continue investing in growth. The company's core proposition remains focused on limited-time sales and high product turnover to drive member engagement. Beyond the Rack is a Montreal-based e-commerce platform offering designer brand apparel, accessories, beauty and home decor at discounted prices. Products are sold in the context of limited-quantity events, with members seeing up to 30 new events each day. The company reports over 10 million consumer members and 5,000 brand partnerships. It operates in both Canada and the United States with offices in Montreal, Toronto, New York and Las Vegas. The executive team includes CEO Yona Shtern, COO Mike Bhaskaran and President/Chief Merchandising Officer Jim Weinberg. The company says it will use the proceeds of the new funding to further expand operations. Beyond The Rack is a Montreal-based online shopping club that offers fashion, accessories, beauty and home décor at discounted prices via limited-quantity events (up to 15 new events each day). Led by Co-Founder and CEO Yona Shtern, the company operates a membership-based flash-sale model and has over 7.5 million members and relationships with more than 3,000 brands. It employs 400 full-time people in Montreal and New York. The company received a $10M venture debt financing from Wellington Financial LP and intends to use the proceeds to grow across North America. Beyond The Rack is backed by venture capital firms including BDC Venture Capital, Export Development Canada, Highland Capital Partners, iNovia Capital, Panorama Capital, Rho Canada and Tandem Expansion Fund. Recent reported financings include $36.6M in November 2011, $12M in July 2010 and $2M in January 2010. Beyond The Rack is a members-only flash-sales shopping site similar to Gilt Groupe that offers steep discounts (50–70%) on designer clothing, accessories, home decor and other goods. The site reports 5 million members, up from 1.5 million in July 2010. It has raised more than $50 million in total funding to date. Beyond The Rack plans to use new capital to enhance logistics and distribution and to accelerate growth. The company is competing in a crowded flash-sales market alongside players such as Gilt, Ideeli, One Kings Lane and Lot18. The site’s product focus and rapid member growth are central to its expansion strategy. Beyond the Rack is a Montreal-based members-only private shopping club offering moderate to luxury merchandise at up to 70% off retail. The company runs up to 18 private sales events per day across categories including ladies' and men's apparel, accessories, footwear, homeware, watches, jewelry, cosmetics and kids' items. It operates an office in New York and employs 200 full-time staff. Beyond the Rack reports over three million North American members. The company has raised $16.5M in venture capital to date and recently received a $3M loan from MMV Financial. Management, led by CEO Yona Shtern, intends to use the MMV proceeds to expand operations.

  • Blueprint Software Systems

    Led · Equity · May 2012

    Blueprint Software Systems provides software to help large organizations accelerate and de-risk digital transformation efforts. Its core product, Storyteller™, focuses on Agile planning for mid-to-large scale enterprise customers across regulated and complex industries such as financial services, healthcare and the public sector. The company is led by CEO Dan Shimmerman and serves hundreds of global customers. Blueprint plans to use the new funding to further accelerate its direct and channel-based sales and marketing efforts. The company is headquartered in Toronto, ON, Canada. The amount of the investment was not disclosed. Blueprint is a Toronto-based provider of requirements definition and management software. The company offers collaborative requirements definition and management solutions designed to transform the business-IT relationship into a visual and engaging collaboration. Its tools target companies looking to improve the success of complex, critical revenue-generating projects. Blueprint currently serves more than 200 customers, including major Fortune 500 banks, insurance companies, retailers, pharmaceutical companies and government agencies. Led by President & CEO David Nyland, the company plans to use new capital to expand sales, marketing and channel partner presence and capacity in the U.S., Europe and Asia Pacific. The firm raised $15.9m in funding to support those expansion plans. Blueprint Software Systems is a Toronto-based enterprise-requirements software provider. Its core product, the Blueprint Requirements Center, enables authors and reviewers to visually define, simulate, validate and publish requirements. The company completed a $14.3M financing from existing venture partners and will use the funds to accelerate product development and expand customer support, sales and marketing. Planned product enhancements include greater depth and breadth of definition and simulation capabilities, role-based access and workflows, and deeper MS Office and ALM integrations. Blueprint operates globally, with presence, partners and customers in North America and Europe.

  • Blueprint

    Led · Equity · May 2012

    Blueprint offers a visual, collaborative platform for requirements definition and management, using patented requirements visualization and social features to align business and IT stakeholders. Over the past five years more than 200 customers — including major Fortune 500 banks, insurance companies, retailers, pharmaceutical companies and government agencies — have used Blueprint. Customers report higher-quality requirements, 30–50% faster on-budget delivery of usable software, and dramatically reduced project backlogs. Blueprint aims to transform the legacy, document-based requirements process that causes project delays and overruns. The company is headquartered in Toronto and has global sales, operations and partner presence. It plans to use new growth capital to expand sales, marketing and channel partner presence and capacity in the U.S., Europe and Asia Pacific and through partner ecosystems such as HP's and Microsoft's.

  • Blueprint

    Led · Equity · May 2012

    Blueprint is a Toronto-based provider of enterprise software for requirements definition and management. Led by CEO Dan Shimmerman, Blueprint provides solutions to de-risk and accelerate large, complex IT projects using Enterprise Agile, Waterfall or hybrid methodologies. The company integrates with ALM technologies to enhance organizations' development tool investments. Customers include JP Morgan Chase & Co., Costco, MetLife, Intercontinental Hotels Group, Sallie Mae and several Blue Cross Blue Shield organizations. Blueprint raised $23m in funding in a round led by Centana Growth Partners, and Eric S. Byunn of Centana will join the company's Board of Directors. The company plans to use the funds to expand into global markets, continue innovating its solutions, and enhance services with customer and partner programs. Blueprint is a global leader in collaborative requirements definition and management software that helps business and IT stakeholders visualize and manage requirements for complex software projects. Its platform uses patented requirements visualization and social features to improve collaboration, reduce rework, and deliver higher-quality requirements. Over the past five years more than 200 customers — including Fortune 500 banks, insurers, retailers, pharmaceutical companies and government agencies — have used Blueprint to achieve 30–50% faster on‑budget delivery and reduced project backlogs. Blueprint is headquartered in Toronto and maintains global sales, operations and partner presence. The company plans to use new growth capital to expand sales, marketing and channel partner presence and capacity across the U.S., Europe and Asia Pacific. It also intends to grow through mature distribution channels such as HP's and Microsoft's partner ecosystems.

Team

No current team members are available.