Dialogue secures $40M financing led by CDPQ and Holtzbrinck Ventures

Dialogue has closed a $40 million round of financing led by Caisse de dépôt et placement du Québec (CDPQ) and existing investor HV Holtzbrinck Ventures. Also participating in the financing round were First Ascent Ventures, Portag3 Ventures, White Star Capital, Walter Capital and National Bank of Canada (TSX: NA).

CDPQ investment was made through Fonds CDPQ-IA, a $250 million artificial intelligence focused sector fund.

Dialogue will use the funds to maintain its leading position in Canada and continue its expansion in the European market.

Founded in 2016 and seed funded by Diagram Ventures, Dialogue is a virtual platform offering integrated health care services for employers to keep their employees happy, healthy, and performing at their highest potential.

In January 2018, Dialogue closed a $12 million Series A led by White Star Capital with participation from HV Holtzbrinck Ventures, Portag3 Ventures, National Bank Financial and Walter Financial.

photo credit: Dialogue

News Release

Dialogue concludes a $40-million round of financing

Private Equity, Québec Montréal, June 17, 2019

Dialogue, the leading virtual healthcare platform in Canada, today announced the closing of a $40-million round of financing led by Caisse de dépôt et placement du Québec (CDPQ) and Holtzbrinck Ventures. The company will use the funds to maintain its leading position in Canada and continue its expansion in the European market.

Also participating in the financing round were First Ascent Ventures, Portag3 Ventures, White Star Capital, Walter Capital and National Bank of Canada (TSX: NA).

Dialogue offers companies services to directly access front-line health-care professionals. Using a virtual technology platform that provides optimized triage, the companies’ employees and their family members can contact a professional using a mobile application or the internet.

Founded in 2016 with the support of incubator Diagram Ventures, Dialogue quickly positioned itself as a leading player in its sector. The company now has over 400 clients of all sizes, including companies such as National Bank, Lightspeed, Industrial Alliance, Air Canada Vacations, Stingray, Cirque du Soleil, Hopper and WSP.

In addition to its service offering for companies, Dialogue also provides its platform, which facilitates and increases the accuracy of triage through the use of artificial intelligence, to hospitals. A pilot project is underway with the Centre hospitalier de l’Université de Montréal (CHUM) and the technology will soon be deployed at the world-famous Hospital Berlin-Buch to support triage in its emergency rooms.

“We are privileged to have the backing of a quality institution such as CDPQ,” said Cherif Habib, CEO and Co-founder of Dialogue. “This new financing from our partners will help push our company to new heights by consolidating our Canadian expansion and continuing to grow in Europe. None of this would be possible without the significant contribution of all the other partners involved in this round of financing, whom I sincerely thank.”

“This transaction aligns well with our Québec investment strategy. In addition to supporting the company’s expansion into new international markets, CDPQ is again supporting an innovative, new economy company that integrates artificial intelligence into its business solutions to enhance its performance,” stated Thomas Birch, Managing director, Venture capital and Technologies at CDPQ. “This is an investment by our Fonds CDPQ-IA, announced this winter, which focuses on accelerating the commercialization of Québec artificial intelligence solutions.”

The financial terms of the transaction were not disclosed.

ABOUT DIALOGUE

Dialogue is a virtual platform offering integrated health care services for employers to keep their employees happy, healthy, and performing at their highest potential. A full range of health professionals (nurses, physicians and allied health practitioners) is available at the click of a button via mobile phone or computer to help employees optimize their work-life balance. To learn more, visit dialogue.co, follow us on Twitter @godialogue or visit our Facebook and LinkedIn pages.

ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC

Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at December 31, 2018, it held CA$309.5 billion in net assets. As one of Canada’s leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure, real estate and private debt. CDPQ is present in India through its subsidiary CDPQ India, located in New Delhi. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.

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For more information

Media contact +1 514 847-5493 medias@cdpq.com

Carl Vallée
Dialogue
+1 514 316-7093