Surrey’s PocketPills is on something of a roll
Here are the companies that have our attention this week
We take a sometimes weekly and always tongue-in-cheek look at some B.C. companies making noise with big-money raises. Don’t take this too seriously. Unless you make money off it—then we want some.
Pocket full of miracles
An interesting role that technology has played in recent years is rendering some old pop-culture tropes irrelevant. Unfortunately, the underrated Phone Booth, starring Colin Farrell, probably wouldn’t ring very true today. Likewise, the great Curb Your Enthusiasm bit about doctors and pharmacists will almost definitely be treated like fantasy in 10 years or so, largely thanks to companies like PocketPills.
The Surrey-based business, which lets customers order prescriptions online, raised $30 million in its Series B round, just over a year after gathering $7 million for its Series A.
The money will reportedly go toward ensuring same-day delivery across Canada, while also allowing PocketPills to expand operations into Quebec and Alberta.
R you ready for this?
No, it’s not a typo, and no, it wasn’t started by a group of health-conscious pirates, as the double Rs in its name might have you believe. But Vancouver’s Rritual Superfoods did raise $5.22 million to close its initial public offering this week. As we learned in this space last time, fungi are proving to have some market value these days.
The company, which produces and sells elixirs made from medicinal mushrooms, is projected to hit the Canadian Securities Exchange in the 30-cent range. (Luckily, those mushrooms aren’t anything like the ones Colin Farrell eats in The Beguiled.)
Also, Rritual’s CFO is named Robert Payment, and we’re glad he found an appropriate line of work.
Secure the bag
Finally, Victoria-based cybersecurity firm Hyas Infosec raised $20 million in Series B funding to develop its cyberattack infrastructure identification and blocking technology.
The company claims it can “block attacks before they happen.” So now, of course, we’re envisioning a Minority Report–style situation (yep, featuring Colin Farrell—we did it, folks), set in calm, pleasant Oak Bay instead of a dystopian D.C. Then Tom Cruise goes back in time to save the rabbits. Wait, do we have something here?
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