OpenText Enterprise Apps Fund, the corporate venturing arm of enterprise software provider OpenText, has co-led a C$17.3m ($12.9m) series A round for Canada-based mobile banking technology supplier Sensibill.
The round, which was co-led by venture capital firm Information Venture Partners, also featured VC fund Mistral Venture Partners and VC firms Operative Capital and Impression Ventures.
Sensibill has built a machine learning-equipped tool for mobile banking apps that enable customers to store and manage paper and electronic receipts meaning, for example, they can manage their budgets more efficiently or be alerted when warranties are about to expire.
Tony van Marken, general partner at OpenText Enterprise Apps Fund, said: “Our investment reflects our belief in the tremendous market potential for their technology and management’s ability to execute on their vision.
“In a short space of time Sensibill has closed deals with some of the world’s leading financial institutions in a highly competitive environment. We are very excited about their growth prospects and look forward to working with Corey and his outstanding team.”
Van Marken will join Sensibill’s board of directors in conjunction with the round, as will David Unsworth, a co-founder and general partner of Information Venture Partners.
Impression Ventures had previously led Sensibill’s $2m seed round in March 2016, investing alongside Six Squared Capital, Ontario Centres of Excellence and Ryerson Futures.