WESLEY CLOVER QUARTERLY UPDATE - ThinkRF Continues to Go Global Fast Martello Prepares for 5G "The Celtic Collection" Reflects a Growing UK ...
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APRIL 2020
WESLEY CLOVER
QUARTERLY UPDATE
ThinkRF Continues
to Go Global Fast
Martello
Prepares for 5G
“The Celtic Collection”
Reflects a Growing
UK Hospitality Portfolio
Table of
Contents A Message
from the Chairman
Welcome to the next issue of Q. The winter
2 Message from the Chairman months are fading fast, and we now find
3 ThinkRF ourselves confronted with unprecedented
health and economic concerns around the In terms of the real estate businesses, the
4 Echosec globe. The media is full of stories and sound continued growth in the UK portfolio has
bites and breaking news for all of us to worry brought on the need to evolve the brand
4 Martello over. I am not going to use this Update to — to extend it to encompass hospitality
add to that onslaught. We are certainly not properties and facilities that continue to
5 Talkative
deaf to these realities, but instead, as usual, be added to the family. The new ‘Celtic
6 L-Spark I will shine some light on the progress the Collection’ has been launched to include
portfolio companies have made over the the Celtic Manor Resort as the original
6 HyAlto most recent Quarter. cornerstone, as well as the impressive new
International Convention Centre Wales, a
7 Alacrity Global
How these companies fare over the coming new family of Ty Hotels, the Lodges and Inns
8 Hyas months will be fodder for a future issue. For and new properties going forward that will
now, let me suggest that all have worked become part of the leading family of resort,
9 Solace very hard through the previous Quarter, as golf, hotel and meeting facilities in the UK.
you would expect. And they were rewarded
10 CounterPath
for these efforts on many fronts. Echosec, These are just several of the recent portfolio
11 InitLive for example, has evolved a portion of their highlights, and there are many more on the
software into a very impressive new tool following pages. As noted, upcoming plans
11 Diskyver that is allowing clients to scan social media, and expectations are definitely subject
the internet, even the ‘dark web’ to detect to change in this current global climate.
12 The Celtic Collection
threats to their brand, their assets, even their However everyone is doubling down on
14 Alacrity Global employees, sooner and more easily than their efforts to ensure the companies emerge
ever. This powerful new tool is meeting with from these unparalleled times as strong as
15 Wesley Clover Parks significant demand from existing markets, or stronger than when they entered them.
and setting in motion the processes for Positioned for added growth and success.
16 Company Index
additional corporate funding and growth. It will not be easy, and nothing is certain.
My belief, though, has always been that to
In the UK, Talkative completed integration succeed, you work it and drive it hard with
work to gain access to the global Salesforce the best teams, in good times and definitely
ecosystem of partners and potential clients. in bad. That is the culture at Wesley Clover
Their software is now available on the and throughout the portfolio. For now, enjoy
Salesforce online marketplace, exposing it some good news from recent weeks …
Q is a quarterly publication of Wesley to more than 160,000 new sets of eyes. It is
Clover, highlighting some of the latest
accomplishments from the wide range still early days, however the prospects for Kind Regards,
of businesses in our portfolio. Visit long-term growth are outstanding, as you Terry Matthews, Chairman
wesleyclover.com for more information. will read.
2 WESLEY CLOVER QUARTERLY UPDATE | April 2020
THINKRF – Next-Generation Wireless Signal Analysis Platforms
Increased Security From ThinkRF
Keeps Winning Global Clients
Ottawa-based ThinkRF is a leader in soft- capture potentially sensitive
ware-defined spectrum analysis solutions for information for malicious actors
monitoring, detecting and analyzing com- for months or even years. Spy
plex waveforms (radio signals) in the rapidly games and corporate espionage
evolving wireless landscape. The products at their finest.
provide more flexibility, greater coverage,
increased functionality and better ROI than With increased availability of such
competing options, making them ideal for devices, the communities of suspicious
regulatory monitoring, telecom deployment agents, as well as their pools of potential Beyond security, customer orders are also
optimization and Radio Frequency (RF) targets, have continued to grow. In a steady materializing in the emerging industry
application development. Another benefit response to these developments, this Quarter around 5G developments, as well as for the
— these products are exceptional at detect- saw the release of the ThinkRF Surveillance first products in a new line of high-power
ing unwanted listening devices. System — an integrated new system that amplifiers targeted at the intelligence com-
combines ThinkRF spectrum analysis plat- munity, which are set to be launched later
To that latter point, technology advances forms with leading technical surveillance in the year. These solutions are broadening
today have led to broad availability of countermeasure (TSCM) software to provide the market of end-users for the company
powerful, low-cost, easily-deployed audio 24/7 alerting on the detection of unwanted and helping it move up the value chain. In
and video surveillance devices — for legit- signals. Clients can then monitor the trans- turn, these strong growth indicators resulted
imate as well as illegitimate use. As this mission, locate its source, analyze the signal in an injection of additional company fund-
new decade unfolds, there is increasing pattern to determine any risk or threat, and ing toward the end of 2019, and another
risk that these devices could find their way remove the offending device as appropriate. round of equity investment is already being
into government offices, secure facilities, planned before the end of 2020.
embassies, boardrooms, hotel rooms, private The new ThinkRF Surveillance system has
homes and other unsuspecting and sensitive already generated interest internationally. It is clear that ThinkRF is maturing into a
environments. This Quarter saw the company win a signif- significant international supplier of signal
icant tender with the Egyptian Government analysis solutions, and we couldn’t be more
It is yet another reality of the world we live to supply product in support of their lat- pleased. We will continue to share updates in
in — advanced technologies being lev- est security initiatives. Dr. Tarek Helaly, VP future issues of Q. thinkrf.com
eraged in unethical and criminal ways to Engineering, spearheaded the ThinkRF team
violate our corporate and even personal and earned the respect and confidence of
privacy and security. Cleverly disguised as the decision makers by proving the function-
everyday objects in plain sight, or hidden ality and ease-of-use of the new system in
in walls and room fixtures, illegal listening their specific use case, and also in the face of
devices represent a serious threat to intel- considerable industry competition.
lectual property, law enforcement activities,
government operations, even national secu- This important customer win will help
rity. Traditionally, surveillance professionals open more opportunities for new ThinkRF
detected, located and removed offending product, in this and other international
devices by conducting sweeps to discover regions. The cumulative effect of this and
any signals being output from these devices. other company developments enabled Members of the Egyptian military pose with
Over time, however, the devices have ThinkRF to deliver Quarterly revenues ThinkRF executives as they sign a new contract
become more sophisticated, using sporadic, more than 100% higher than the previous
low power, short duration transmissions period, which in turn was 70% higher than
and frequency hopping to make detection the one before. 2020 revenue targets have
of their signal pattern far more difficult. been set four times higher than those of
And left undetected, such illegal bugs can 2019, based on a strong customer funnel.
WESLEY CLOVER QUARTERLY UPDATE | April 2020 3
ECHOSEC – Digital Risk Detection and Protection SaaS
ECHOSEC READIES FOR EXCITING
NEXT-STEPS IN GLOBAL GROWTH
Echosec Systems is now a leader in digital threat intelligence
software, and provides some of the most influential organizations
in the world with tools and services that make hidden online data
more accessible and actionable. The company, which was built on a
social media monitoring tool, has evolved its offerings to provide risk
and threat analysis solutions for retail, financial, law enforcement and
corporate security applications.
These solutions now include a suite of tools for deep and dark web
monitoring, an API for tighter integration into existing customer
infrastructure, and in-house intelligence services to assist not only
in the successful deployment of the software within these customer
environments, but also in supporting existing security resources as use the proceeds of the fund-raising round to execute in parallel
they strengthen their company defenses. on more items on our product, marketing and sales roadmaps,
continuing our journey to become the strongest global provider
Five years of continued growth in terms of product feature set and of digital threat intelligence software and services.”
customer success now have the company positioned to attract exter-
nal investment, which will be used to continue global expansion, The new funding program is underway now, and we will provide
among other priorities. Echosec CEO Karl Swannie is looking forward an update on the progress and results in future issues of Q.
to driving this exciting next chapter for the company. “We plan to echosec.net
MARTELLO –Performance Monitoring/Management SaaS for Unified Communications Networks
MARTELLO HELPS ENSURE USER SATISFACTION FROM than 75 million potential buyers. This move
also sets the stage for Martello to participate
NETWORK SERVICES, TODAY AND TOMORROW in a large way in the global Microsoft Ignite
event, currently scheduled to take place in
User experience can make or break the capabilities are enabling the company to the fall of this year.
return on investment for services like Unified expand its international channel network
Communications, video conferencing, enter- and strengthen existing partnerships. Over
prise office suites and other software tools. the last Quarter, Martello added Australian
Unfortunately, as these services increasingly cybersecurity and network performance
become cloud-based, it is more difficult to solutions reseller SecureServ to its Partner
control their performance and ensure a con- Alliance. They also announced a new part-
sistent user experience. Consider Microsoft nership with WatchGuard® Technologies, a
Office 365. With more than 200 million users, global leader in advanced network security
Gartner has reported that 42% of problems solutions, which has resulted in Martello
reported with the software suite can be SD-WAN software being combined with
attributed to underlying network perfor- security products from WatchGuard in bun- Preparing for 5G
mance issues1. dled offerings. It is no secret that momentum around the
roll-out/availability of 5G wireless services
This is an excellent example of the infra- Martello also joined the Microsoft Co-Sell is building worldwide. It will be a transfor-
structure problems Martello (TSXV:MTLO) Program recently, creating opportunities mational technology in many ways. And as
monitoring and analysis tools are designed for the Martello iQ product set to be sold by such, Martello is among the first SD-WAN
to detect and help address. The software Microsoft resources to their network of more vendors to pursue 5G certification for its own
[1] Gartner: Network Design Best Practices for Office 365 (22 March 2018)
4 WESLEY CLOVER QUARTERLY UPDATE | April 2020
technology, using the ENCQOR 5G testbed autonomous vehicles as a use case for real- to managed service providers who need
in Canada. Recognizing the 5G rollout will time and mobile IoT applications to come. complete, real-time visibility across their
be gradual, with initial coverage limitations, infrastructure to ensure they are delivering
Martello is providing a solution that can The Martello value proposition is about help- on the service level commitments they
leverage 5G at its earliest stages, with min- ing businesses provide digital user experi- have set for their customers. Martello helps
imal risk, and also one that will evolve with ences that are free from access and service ensure businesses get the most from all
customer needs. This was demonstrated in inconsistencies and disruptions. From thou- their cloud-hosted services and applications.
tests with partner BlackBerry QNX last year, sands of hotel clients that need to ensure martellotech.com
where Martello technology successfully their guests receive reliable high speed
maintained 5G network connectivity for internet access for work and entertainment,
TALKATIVE – Software to Enable Voice-Centric Contact Centers with Fully Digital Services
TALKATIVE INTEGRATION
WITH SALESFORCE DRIVING
NEW OPPORTUNITIES
A graduate of the Alacrity program in
Newport, UK, Talkative provides commu-
nications software for web chat, web call-
ing, co-browsing, email and video calling
services in contact centers of all types.
The company this Quarter was pleased to
announce the successful completion of work
to join the Salesforce ecosystem as an official
ISV Partner. Talkative software now integrates
smoothly into Salesforce Service Cloud, and
has been made available on the Salesforce
AppExchange to more than 160,000 poten-
tial customers. teams today are embracing online chat from a simple chat to a live voice call at the
systems for engagement with customers click of a button, enabling agents to provide
This project was another step by the com- through websites or applications, but they smoother, more complete assistance as
pany as it responds to increasing demand are using separate systems for handling needed.
for website-centric contact center systems. It voice interaction. This disconnect creates
is no surprise to anyone that evermore cus- fragmented customer journeys, inefficient These capabilities are being leveraged by
tomer/supplier engagement is beginning contact center operations and negative a growing number of Talkative clients, and
online, and to make that engagement as sales or support results. Talkative helps feedback suggests end-customer satisfac-
pleasing and effective as possible, commu- clients remove these risks by embedding tion ratings of 90% and higher. Web-chat
nication should be contextual for both par- options into their online services that abandon rates have been reduced by 70%
ties — shared views of web pages, product allow customers to choose for themselves by some clients, and overall contact centre
details, payment and shipping steps, etc.. whether they want voice, text chat or efficiency (speed and quality of service deliv-
The new Talkative/Salesforce integration email engagement.” ery) has been boosted noticeably. A number
is designed to close the gaps in real time of high-profile accounts are currently testing
between customers browsing websites and The Salesforce integration embeds all com- the new software as well. We expect to share
agents supporting them in contact centers. munications into a holistic Salesforce view, more of those details in an upcoming issue
with access to customer purchase prefer- of Q. gettalkative.com
Talkative co-founder and managing director, ences, service history, contact details and
Felix Winstone, explains: “Digital marketing more. Interactions can be switched easily
WESLEY CLOVER QUARTERLY UPDATE | April 2020 5
L-SPARK – Enterprise SaaS and Corporate Accelerator
partners will continue playing a major part and the two will work through the creation
WESLEY CLOVER L-SPARK in that innovation, and plans for the next and refinement of the strategic and tactical
ACCELERATORS MOVING Secure IoT Accelerator will be announced plans for the business. Participants will also
soon. take part in networking opportunities and
FORWARD IN 2020 workshops on topics such as digital market-
At the end of the last Quarter, L-SPARK This Quarter, the L-SPARK team and part- ing, sales strategies, product development
completed its first Secure IoT Accelerator, a ner Queen’s University opened applica- planning and execution, and more.
four-month program operated together with tions for their new Accelerator focused on
partners TELUS, BlackBerry and Solace. To supporting women entrepreneurs in the Applications for the first Compass North
celebrate the milestone, an invitation-only Kingston, Bellville and Brockville, Ontario Accelerator are being accepted now, and the
event was held with the four growth-stage areas. Compass North, as the new initiative Wesley Clover L-SPARK team looks forward
companies selected for the initial program. is called, is a five-month program designed to working with the selected entrepreneurs
Attendees had the opportunity to learn to help female leaders scale their technology beginning soon. Updates on all these activ-
more about the importance of secure IoT, the companies with the support of hands-on ities can be found on the L-SPARK website
unique capabilities the first cohort founders guidance from expert advisors. Each partici- and will be shared in Q over the coming
have created, how these technologies will pant will be paired with an individual mentor, months. l-spark.com
set the tone for future regulations and stan-
dards, and more. Response was strong, as
expected.
This Accelerator was created to help scale
Canadian Internet of Things (IoT) ventures
for global markets. With those markets pre- Members of Queen’s
dicted to swell to USD $1.1 trillion by 2021, University and L-SPARK
more complex applications and the need for celebrate the launch
greater security are driving innovation across of the new Compass
the industry. Wesley Clover L-SPARK and its North Accelerator.
HYALTO – Cloud Monetization Platform for MSPs and CSPs
PARTNERSHIP WITH Over the last Quarter, HyAlto saw business
grow by 25 per cent. Much of this growth can
Internet) and private cloud services (those
designed for internal use by a single
CONNECTWISE be attributed to the announcement last fall of organization).
PRODUCING IMMEDIATE a certified integration with ConnectWise, To this latter point, the average enterprise
the most popular industry platform for already leverages five different cloud
RETURNS FOR HYALTO operating an As-a-Service (cloud) business. platforms.
As has been commented on in Q in the ConnectWise MSP/CSP clients now have the The worldwide market for public cloud
past, enterprises lack the visibility to ensure means to streamline and optimize their cus- services is expected to reach a value of
their cloud usage is right-sized and aligned tomer billing processes through the HyAlto $623.3B by 2023.
with their business priorities, and that they automation, and they are signing on.
are not paying for cloud services or capacity HostingTribunal.com also notes that cost
they don’t use. This is where HyAlto comes This is but one example of the untapped optimization is the primary reason behind
in — with a cloud monetization platform MSP/CSP opportunity for HyAlto. Consider 47% of enterprise cloud migrations. Keeping
and a single dashboard that is automated, also the following data for 2020 from cloud in mind the fact that multi-cloud strategies
cloud agnostic and has the scalability to pro- industry publication HostingTribunal.com: are already the norm, with an average of
vide managed service providers and cloud 83% of enterprise workloads will become four to five different cloud platforms being
service providers (MSPs and CSPs) as well as cloud-based by the end of 2020, and involved in each of these migrations, it is
their enterprise clients, with a single inter- most will use a multi-cloud strategy easy to suspect that the resulting complexity
face to manage these needs closely. And the — some combination of public cloud could negate some or all of those expected
market is taking notice. services (those delivered entirely over the cost-savings. “Cloud sprawl” is a very real
6 WESLEY CLOVER QUARTERLY UPDATE | April 2020
phenomenon today, and a substantial busi- can be trusted to provision, monitor and bill HyAlto helps MSPs meet this demand. MSP
ness challenge for many organizations. In accurately for usage across cloud infrastruc- success depends on becoming a trusted
response, a single partner using tools that ture, is in demand. enterprise partner on two fronts. One, they
need to offer a range of cloud services such
that their clients get a one-stop shop, and
two, they must back this up with tools for ser-
vice provisioning and usage monitoring that
ensure these clients have real-time insight
into and control over their cloud usage and
resulting costs. This is a growing opportunity
which HyAlto is positioned extremely well to
address, as the results from the past Quarter
suggest. hyalto.com
ALACRITY GLOBAL – Funding and Scaling Technology Start-Ups Around the Globe
THE VALUE OF INDUSTRY ANALYST RELATIONS Global
Recognizing it would take time, the Alacrity Cliniconex was included for the first UC Applications Market Forecast, 2019
Global team initiated an Industry Analyst time last summer in the Gartner report, by analyst Tim Gelardi, MZA Telecoms &
Relations (IAR) outreach and engagement Put Patient Throughput and Capacity IT Analysts.
program in 2017. The aim of the program Management at the Center of Your
was to facilitate new relationships between Performance Improvement Plan. And Solace has secured research
leading industry analysts and Wesley Clover mentions with analyst firms such as IDC,
portfolio companies in order to create expo- ProntoForms has achieved recognition Gartner and 451 Research. Importantly,
sure and gain greater global market insights. in the Gartner Magic Quadrant for the company has been successful in
As part of the program, the team provides Enterprise Low-code Application influencing Gartner to adopt the Solace
IAR Best Practices Guidance through local Development, out-pacing more than term Event Mesh to identify the new
lunch-and-learn events as well as workshops 200 other vendors for this desirable market space Solace is targeting, and
for entrepreneurs participating in semi- market position, as well as being promote it as a digital business priority as
annual Alacrity Global Boot Camps. recognized in the Gartner Peer Insights the evolution of messaging in one of their
Voice of the Customer Report. research documents last year.
Six companies in the portfolio now have
regular engagement with industry ana- Martello achieved recognition from Each of these accomplishments is being lev-
lysts: SaaSquatch, Cliniconex, ProntoForms, Frost & Sullivan in 2018 with the Price/ eraged by the companies for business devel-
Martello, CounterPath and Solace. As these Performance Value Leadership Award opment purposes — third-party validation,
companies are at different stages of com- for Network Performance Management. credibility building, industry proof points,
mercial evolution, they have different needs The company is now working with etc. These are long-term endeavors, but they
of the analysts. The following are some high- Gartner to further define the Digital can prove very valuable, for younger compa-
lights so far: Experience Monitoring market segment. nies who need this sort of validation to com-
pete, and for companies of all sizes who can
SaaSquatch was able to secure some CounterPath frequently engages leverage the competitor insight to continue
feature coverage last year in Now Tech, a with analysts that cover the Unified growing. alacrityglobal.com
Forrester Research Document focused on Communications markets. The
B2B Customer Engagement Marketing. company was covered in the World
WESLEY CLOVER QUARTERLY UPDATE | April 2020 7
HYAS – Cybersecurity Threat Intelligence Software
HYAS LAUNCHES POWERFUL NEW
CYBERSECURITY DEFENSE SOFTWARE
This Quarter, portfolio company HYAS According to Gartner, “Threat intelligence The ability to unmask, correlate and map
announced the availability of HYAS Insight, capabilities make digital businesses more together all digital assets of the adversary
new threat intelligence and attribution soft- resilient. Security and risk management results in more accurate identification
ware that increases the visibility of potential leaders do need to evaluate the capabili- and neutralizing of the attacker(s).
threats for security analysts, researchers and ties and features of TI [Threat Intelligence]
investigators, and in doing so, it improves offerings and match them to the needs of The ability to detect, attribute and
the accuracy of their findings and also their their own security programs.” 1 monitor pre-attack activity by new or
productivity. The new software enables users previous adversaries allows pre-emptive
to connect specific attack instances and HYAS Insight is the successor to the first defenses to be deployed and pending
campaigns to literally billions of historical HYAS cybersecurity tool, Comox, a premier attacks to be thwarted proactively.
and real-time attack indicators in less time industry threat attribution solution used by
than ever. Global 2000 enterprises. The revamped user HYAS Insight reinforces the company position
interface and extended features in HYAS as a leader in what is known in the industry as
“Most enterprises struggle to detect and Insight deliver the following enhancements: “pre-zero-day cybersecurity risk manage-
counter advanced cyber-threats today. ment”. HYAS software integrates into existing
And when successful, these attacks can New web interfaces and a powerful API security frameworks and enables enterprise
cost millions of dollars in financial, brand, enable the software to be integrated security teams to detect and mitigate cyber
operational and other losses,” said David easily into existing cybersecurity risks before attacks happen. These teams
Ratner, CEO of HYAS. “HYAS Insight delivers infrastructure, tool sets and work flows, can identify adversaries and infrastructure
threat intelligence and attribution capa- resulting in more rapid deployment and being used to plan attacks, deploy defenses
bilities that enable enterprises to rapidly reduced learning curves for users. and even hunt those adversaries down,
identify the actors behind the attack, map often to their physical doorsteps. With HYAS,
their infrastructure, and take action to The ability to incorporate diverse datasets enterprises can adopt more proactive and
avert future attacks.“ into the analysis process produces faster flexible security postures, guarding against
results and more confident decision- both known and not-yet-launched attacks.
making during investigations and For more information, visit HYAS.com.
incident response.
[1] Source: Gartner “Market Guide for Security Threat Intelligence Products and Services” Craig Lawson, Ryan Benson, Ruggero Contu, 19 February 2019
8 WESLEY CLOVER QUARTERLY UPDATE | April 2020
SOLACE – Event-Driven Data Movement Platforms for Digital Transformation
SOLACE EXPANDS basic event processing infrastructure,
many don’t have the high-level productiv-
Data officers will learn and understand
the lineage of events and data sharing.
ADDRESSABLE MARKET ity tooling that helps developers design,
develop, test and manage event-centric
All who support and leverage an EDA will
visualize and optimize how events flow
Industry leader Solace continues to intro- applications. Nor do they have tools for through an enterprise.
duce new innovations that bring added governing, publishing and managing
value to existing and new clients. The com- event-based interfaces. The market for PubSub+ Event Portal was made available
pany is about to launch a new product called these tools is sparse”. to selected clients earlier this Quarter, under
PubSub+ Event Portal which will make the the Solace Early Access program. Response
adoption of event-driven architectures and This is the opportunity Solace is moving from these initial users has been very posi-
applications easier for enterprises across a to seize in an aggressive manner. As Chris tive, as shared by Nikolai Blackie, Co-Founder
range of industries. Wolski, Senior Director of Product Marketing and Principal Architect with Adaptiv
states, “There is clearly a demand for new Integration: “We’ve been using early access
What are “events” and “event-driven architec- design and development tools, but there to PubSub+ Event Portal, and find that
tures”? An event is any material activity that are presently none available. Our new it changes the game for the lifecycle of
happens across a business. Depending on PubSub+ Event Portal offering will be event-driven architectures. It provides us
the business, for example, that could mean the first of what we believe will quickly with an intuitive toolset to model events
an online purchase, an inventory update, a become an important new product cate- in customer domains, including applica-
new sensor reading, even a flight taking off. gory for enterprises looking to transition tions, events and schemas.”
Technically, an event is a change in state in to event-driven architectures.”
an internal business system — something
added, removed or changed that helps drive
the operations of the business.
To enhance customer experience, eek out
ever more operational efficiency, improve
financial management and much more,
enterprises today are striving to react to such
events as rapidly as they can. In real-time, if
possible, creating responses as the events
occur. To do this, the technical blue-print is
an event-driven architecture (EDA) in the sys-
tems behind the operation of the business.
Unfortunately, adopting EDA is not easy, yet.
This is because system architects and appli-
cation developers lack the tools they need
to achieve real-time event responsiveness
in their infrastructures. The current state-of- PubSub+ Event Portal from Solace is the first Event Portal is the latest major component to
the-art is a robust ecosystem of enablement event management toolset for this broad be added to the Solace PubSub+ Platform,
tools that support the development of market. It provides a single place to visual- and importantly, it has been designed to
RESTful, request-reply based infrastructures ize, design, build, secure, share, manage and work with any commercial or open source
(API portals, catalogs, gateways, policy/ evolve all the system events in an enterprise. event broker, which opens up new paths for
analytics tools, etc.). None of these support It is a toolset where: client acquisition and new revenue opportu-
the development of real-time applications, Architects and developers will collaborate nities for the company. General Availablility
which is where increasing demand is com- to define and develop event-driven of PubSub+ Event Portal is scheduled for
ing from. applications, faster. early April, and we look forward to reporting
Developers will discover and re-use in a future issue of Q on what is expected to
Here is how Gartner perceived this dilemma in events across applications, lines of be solid response across broader markets.
their Top 3 Trends in Application Architecture business, between organizations. solace.com
For Enabling Digital Business at the end of Operations managers will audit runtime
2019: “While most organizations have code for design deviations.
WESLEY CLOVER QUARTERLY UPDATE | April 2020 9
COUNTERPATH – Unified Communications and Collaboration as a Service (UCCSaaS)
CounterPath Helping Evermore Enterprise and SMB Clients Leverage
the Cloud for Unified Communications
Cloud infrastructure provides an almost Bria Enterprise: For mixed-location Partnered with Vodafone Fiji to provide
limitless, flexible, fast computing, storage environments, call centers, mobile Bria mobile applications and Stretto™
and management fabric for business ser- workers and organizations that Platform services to 700,000 consumers
vices today, including communications. are increasingly embracing cloud across the Fijian and neighbouring islands
Cloud-based applications such as those from communications. on a five-year subscription program.
CounterPath enable enterprise and small
business (SMB) users to connect, communi- Bria Teams: For streamlining team Introduced Bria Solo, a new softphone
cate and collaborate, anywhere, anytime, on communications and providing available under a subscription model, that
any device and on any PBX. And they do so administrators with quick and easy includes a reduced-feature, free variant
using less hardware and with fewer opera- user management through a web portal to compete with market alternatives and
tional expenses. and convenient dashboard. motivate broader adoption.
CounterPath calls these solutions Unified Bria Teams Pro: Provides all the features CounterPath is maintaining a sales focus on
Communications and Collaboration-as-a- of Bria Teams and adds full collaboration growing recurring revenues. The introduc-
Service (UCCaaS). They are designed to allow functions. tion of Bria Solo for individual softphone
customers to continue leveraging their exist- users is the start of a customer journey in
ing PBX or VoIP infrastructure. CounterPath The latest Quarter was an active one at which the company will use marketing
software is hosted in the cloud, and it estab- CounterPath. The following are some of the programs to convert users from a free to
lishes secure signaling with on-premises key highlights: a paid relationship, better monetizing the
equipment, augmenting existing communi- large installed base of current customers and
cations services with new messaging, pres- Partnered with Honeywell to create adding new prospects at the same time. The
ence, video conferencing and other features. Smart Talk, a Honeywell-branded small and medium-sized enterprise market is
all-in-one communications application underserved in terms of compelling UC soft-
CounterPath solutions allow users to custom- that enables workers in environments ware solutions, and CounterPath is moving
ize their communication tools, to suit to the such as retail stores, distribution centers, fast to seize as much of that opportunity as
needs of most environments. This includes hospitals, factories, even vehicles, to use possible.
businesses and contact centers across the their ruggedized Honeywell or other
retail, warehouse, hospitality, healthcare and mobile devices for voice over internet We will report further on this strategy in
other markets. The CounterPath product- protocol (VoIP) calls, push-to-talk future issues. counterpath.com
suite includes: conversations, instant messaging, video
calling and more.
10 WESLEY CLOVER QUARTERLY UPDATE | April 2020INITLIVE – Event and Volunteer Management SaaS
The company also continues to acquire cus-
In it
tomers in the Fitness festival market, securing
four-more events during the Quarter with
Live
the international Loud and Live organization.
This team hosts Wodapalooza fitness chal-
lenges in various cities throughout the year.
Stacy Konstantinov, Manager of Community
Relations for Loud and Live, explained why
they chose InitLive to help, “Our goal is to
bring our volunteer database together
across all five events and track activity
through InitLive. Having one system to
InitLive European Expansion Starting Well manage all our volunteers will allow us to
serve everyone better.”
InitLive just completed the most successful customers. The InitLive application has now NOTE: We realize how the current global
company Quarter to date. Record revenues been planned for use in support of the fol- situation has impacted the tourism, event,
can be attributed to several key develop- lowing large European Tour golf events: hospitality and other industries particularly
ments. For example, the company recently the Andalucia Masters 2020 (Spain), the hard. InitLive customers are no exception.
released the InitLive event staff and volun- Irish Open 2020, the British Open 2020, the Most event schedules are now fluid. Look
teer management software in six languages, 2020 Ryder Cup and the 2020 DP World Tour for another update in Q to learn about the
as an enabling step for a strategic focus of Championship (Dubai). InitLive has become steps the company is taking to help custom-
efforts on European expansion. Between the leading volunteer management soft- ers mitigate these impacts, as well as a new
existing demand and new opportunities in ware for large golfing events. Falcon Golf initiative being undertaken to help doctors,
the region, results were fairly immediate. Management of Dubai, UAE, is one example nurses and healthcare volunteers operate
of why — the software enabled that cus- more effectively in these stressful times.
The company secured the PGA European tomer to increase their volunteer participa- initlive.com
Tour as one of the first new strategic tion by 25% in the first year.
DISKYVER – Cybersecurity SaaS for IP Telephony
DISKYVER BRINGS Business telephony is definitely one of these.
Some reports suggest as much as $30B is
to address these risks. The software monitors
and establishes a baseline of “normal” office
CYBERSECURITY TO now lost each year to cyberattacks on phone system behavior within a client enterprise,
IP PHONE SYSTEMS systems. In large part, this is due to the
massive migration to the VoIP technology
and then stands on guard to detect and raise
an alert if/when something abnormal begins
behind modern systems, and also the fact to take place. The company now has an
Based in Lille, France, portfolio start-up that securing these systems against network all-important reference customer to aide in
Diskyver is a Software-as-a-Service solu- attack was rarely considered a requirement. its broader marketing efforts, and they con-
tion designed to monitor and defend IP While not attempts to steal and resell pri- tinue to refine the solution with additional
business telephone systems from cyber- vate customer data or proprietary IP, attacks features and capabilities. We will continue to
attacks. Enterprises worldwide are vulnerable do include toll fraud on significant scales report on the growth of this new company in
to such attacks today, even though they do (routing chargeable calls over unsuspecting future issues of Q. diskyver.com
not grab the headlines in the same way that systems), launching robocall programs from
prominent computer network or database innocent businesses, and yes, creating denial-
breaches do. As we connect more devices of of-service scenarios which paralyze the
all types to the internet, threats are only ris- phone system until a ransom is paid.
ing, and perhaps understandably, the attacks
are targeting platforms which are outside the Diskyver has applied some of the latest
main focus of most cybersecurity firms. advances in machine-learning technology
WESLEY CLOVER QUARTERLY UPDATE | April 2020 11THE CELTIC COLLECTION – Premiere Resort, Hotel and Inn Properties, including the ICC Wales
Introducing the
Celtic Collection
of Premiere
Hospitality
Properties
The continued growth in the UK portfolio Wales (ICC Wales) in a joint venture partner- championship course ever built specifically
of hospitality properties has brought on the ship with the Welsh Government. ICC Wales for the event. A series of special #Twenty10th
need to evolve the brand — to extend it can hold more than 5,000 event delegates promotions are running through the year,
to encompass facilities that continue to be at a time, and includes a 4,000 square metre, including a significant prize for any hole-in-
added to the family. The Celtic Collection pillar-free main hall, a 1,500-seat auditorium one scored on the 10th hole (naturally) of the
is the new brand to encompass this grow- and an additional 15 flexible meeting rooms. Twenty Ten Course — the course that hosted
ing hospitality portfolio. The Collection now the actual event. Any golfer making an ‘ace’
includes the cornerstone 330-room, five-star In terms of the Celtic Manor Resort, it has on the short downhill hole will win a 10-year
Celtic Manor Resort, the historic 19th century become one of finest destinations in Europe membership to the Twenty Ten Club, a gift
Manor House with 70 rooms, the 148-room for luxury escapes, family breaks, golfing worth £33,000!
Coldra Court, the Newbridge on Usk coun- getaways and business events. The resort is
try inn with six rooms, Tŷ Hotel Magor with set in more than 2,000 acres of parkland at In addition to this season-long promotion,
129 bedrooms, as well as 10 luxurious Hunter the gateway to South Wales, overlooking the a series of “Magic Mondays” are scheduled,
Lodges. Bristol Channel. It has been the host venue featuring back-tee and hole/pin placements
for the 2010 Ryder Cup, the 2014 NATO that replicate the course set-up on that
Combined, the Collection currently offers a Summit, and has been voted the Best UK Monday in 2010 when Europe clinched a
choice of eight restaurants, four golf courses Hotel by the Meetings and Incentive Travel ‘magical’, last-gasp victory. (This took place
(including three championship courses), two UK organization nine of the last ten years. on the Monday because 2010 was the first
spas and three health clubs, as well as activ- Ryder Cup ever forced into an extra day of
ities such as adventure golf, tennis, treetop The Resort has plans to celebrate a key part play because of bad weather over the week-
zip-lining and fishing outings. In September of that heritage this year, as 2020 marks the end.) These events will be open to the public
2019, The Celtic Collection also opened the tenth anniversary of the only Ryder Cup and will provide the ultimate test for those
new International Convention Centre ever to be staged in Wales, on the only who feel up to the challenge. Players scoring
12 WESLEY CLOVER QUARTERLY UPDATE | April 2020the lowest over the summer will qualify for
a final tournament to be held in October on
the same date as the original Magic Monday.
Celtic Collection Staff
This fall will also bring two more Ryder
Teaming Up
Cup Anniversary specials. On the weekend
of September 25th-27th, a Stay, Play and
to Support the NHS
Cheer Away package will allow guests to
play the 2010 Course in the day, and cheer
on a live, big-screen broadcast of the 2020
Ryder Cup from in the United States in the
evening. Alternatively, on the first weekend
in October, exactly 10 years after all the
drama, golfers can follow in the footsteps
of Tiger Woods, Rory McIlroy and many of
the greatest players in the world by taking
advantage of the Triple Tee Package. This
offer lets guests create their own three-day
tournament, playing all three Celtic Manor
Championship Courses during the days, and Management and staff at the Wesley Clover hospitality properties
bonding like that European team by staying in the UK are proud to be supporting the monumental efforts of the
in a luxurious Hunter Lodge for the nights. UK National Health Service (NHS) in their fight against the unprece-
dented global challenge today that is the COVID-19 pandemic.
Celtic Manor Resort Chief Executive Ian
Edwards commented, “A lot of exciting The Celtic Manor Resort itself has been closed to guests temporarily, in line
things have happened in the ten years with Government recommendations allowing for essential travel only. However,
since we staged the Ryder Cup, but it is through a close relationship with the local St Joseph’s Hospital in Newport, staff
still one of the events we are best known are providing beds and linens to help address a shortfall as the numbers of
for. It is difficult to believe it has been patients seeking care rises dramatically in Gwent, a region identified as a UK
almost a decade since we hosted that hotspot for Coronavirus cases. Management has also supplied the hospital with
unforgettable tournament, described as additional cookware and eating utensils, as well as volunteer workers to help in
‘the greatest Ryder Cup ever’ by no less a the delivery of these services.
judge than Phil Weaver, the Chairman of
the Professional Golfers’ Association.” In parallel, the Resort responded to an appeal by nurses and staff at the Royal
Gwent Hospital, donating 8,000 bottles of hotel-guest shampoos and body
“Our guests love seeing the constant washes to ensure hygiene standards are maintained there. The Coldra Court
reminders of the event we have dotted Hotel, part of Celtic Collection, has been kept open to serve NHS staff and
around our hotels and clubhouses, but essential front-line workers with accommodations, room service dinners and
we are ramping up those celebrations breakfasts as they play their critical roles in this battle. And accommodations
to mark our #Twenty10th Anniversary have also been offered as needed to help local homeless people as they too
during 2020. We have some great incen- deal with the challenges.
tives for players to come out and see what
made us such a great golf venue, and we As a public display of support for the nationwide #ClapForTheNHS campaign
can’t wait to welcome everyone to join the in late March, management lit the ICC Wales building in “NHS blue” to show
celebrations in this special year.” gratitude for all that these professionals are doing to protect the community.
Discussions have also been taking place with Welsh Government and the
A special year indeed. We are sure the Aneurin Bevan University Heath Board about the possibility of repurposing ICC
promotions will prove very compelling Wales as an emergency hospital should it be required. Final decisions rest with
for those up to the challenge … officials, but the Celtic Collection team remains ready and willing to help in any
celtic-manor.com way needed at this critical time.
WESLEY CLOVER QUARTERLY UPDATE | April 2020 13ALACRITY GLOBAL – Funding and Scaling Technology Start-Ups Around the Globe
The Latest Round-Up From Alacrity Global
Alacrity Global continues to grow and add start-up technology companies to the global portfolio, attracting
additional investment as well as achieving important company Exits. As 2020 continues to unfold, the world
is facing uncertain times indeed. That said, the Alacrity program remains committed to growth within the Global
portfolio as well as expansion into new global regions. alacrityglobal.com
Investments Under
Management*
>$50,000,000
Cumulative 2019
Revenues**
>$30,000,000
Canada UK
Victoria
Ottawa
France
Turkey Fund II
Open Global LP
Mexico
UAE
India Vietnam Investment Opportunities
>$75,000,000
Active Funds Singapore
Funds in Development Brazil
Active Start-Ups***
58
and/or Seeking Added LP's
Start-Ups with
Follow-on Investment
Start-Ups that Secured External Funding in 2019
Cliniconex English Ninjas Segmentify Mydoma Studio Heyday
33
Transparent Kitchen Noibu Procedure Flow Neurovine Wavve
Brokrete AideXpress EnergyX Solutions Exits in 2019: 1
Turkey 15% Corporate 14%
L-Spark 9%
UK 2% Other 6% Series A 12%
Pre-Seed 40%
Wesley Clover 30%
Pre-Series 5%
Exit 2%
Private 12% Government 38%
Canada 74% Seed 41%
Revenue Composition Investment Composition Investment Stage
* Alacrity Canada and Alacrity UK are registered as a Non-Profit and a Charitable Foundation respectively.
** Estimated.
*** Number of active start-ups includes companies from the Wesley Clover L-Spark Accelerator.
14 WESLEY CLOVER QUARTERLY UPDATE | April 2020WESLEY CLOVER PARKS – Community Hub for Outdoor Events and Activities
Wesley Clover Parks Wraps Up Another
Successful Winter Season
Winter programs and events at Wesley Clover Parks have now come to an
end, and it was a very busy time once again. Here are a few of the highlights:
CAMP GATHER
The Campground was repurposed during As noted, the Magic of Lights Christmas dis- Orienteering Ottawa also hosted a
the past months for winter events including play returned to the Parks for the fourth time popular “Ski and Snowshoe-O” event
the Magic of Lights Christmas display (see this winter, running from November 21st to on site during the Quarter, introducing
below) and cross-country skiing through a January 4th and welcoming more guests many participants to the sport of
partnership with the Kanata Nordic Ski Club. than ever. Wesley Clover Parks welcomed skilled navigation, and using the winter
With the season changing and snow now the Children’s Hospital of Eastern Ontario landscape as the environment and the
melting rapidly, the team is busy planning (CHEO) Foundation as the charity partner added challenge.
and starting the work to return the grounds for the event this season, and proudly com-
to a beautiful outdoor base for residents and mitted to a donation of $100,000 from the RIDE
visitors to enjoy the city of Ottawa through a event proceeds, spread over four years. The The Parks hosted a number of equestrian
local camping experience. The current plans first installment, in the form of a $25,000 camps and training events over the Quarter,
call for the Campground to open for the cheque, was presented to the executives of and continues to look forward to a full calen-
2020 season on May 1st, but this date will be the Foundation earlier this Quarter. dar of events this summer spanning all three
subject to update as the events of the com- Olympic disciplines — Dressage, Eventing
ing weeks unfold. PLAY and Show Jumping. Current plans call for
As also noted, members of the Kanata the 2020 Ottawa Equestrian Tournaments
FARM Nordic Ski Club embraced the snow that to host for the first time, five weeks of
The partners at Gees Bees Honey Company covered the National Capital Region this National and International level competi-
worked through the winter to take care of winter. Dedicated volunteers groomed tion. Like all events at this unprecedented
the bees that call the on-site apiary their more than 14 kilometers of trials, time, details are subject to change. Visit the
home. The guess is there are now more than expanding the Parks routes into the new Ottawa Equestrian Tournaments web-
500,000 honey bees in those hives, and they surrounding community trails as well. site to find the latest information: www.
are just starting to stir with the warming The Club hosted a number of successful OttawaEquestrianTournaments.com
temperatures. All indications are they fared events through the season, including
well through the cold and wet weather, and their annual Pretzel Race, ski and waxing
we look forward to another bountiful honey clinics, evening ski socials and family days.
harvest over the summer months.
Magic of Lights
WESLEY CLOVER QUARTERLY UPDATE | April 2020 15PRINCIPAL COMPANY INDEX
* Featured in this issue of Q
Alacrity Canada - a lacritycanada.com HYAS Infosec* - h
yas.com
Alacrité France - a lacrite.fr InitLive* - initlive.com
Alacrity Global* - a lacrityglobal.com International Convention Centre Wales* - iccwales.com
Alacrity India - a lacrityindia.com KRP Properties - k rpproperties.com
Alacrity Mexico - alacritymexico.com Learnium - learnium.net
Alacrity Turkey - a lacrityturkey.com Lota.Cloud - lota.cloud
Alacrity UK - alacrityfoundation.co.uk L-SPARK* - l-spark.com
Benbria - b
enbria.com Marshes Golf Club - m
arshesgolfclub.com
Brookstreet Hotel - brookstreethotel.com Martello* - m
artellotech.com
Brookstreet Pictures - brookstreetpictures.com Mydoma Studio - m
ydomastudio.com
CareerJSM - c areerjsm.com Persona - personajobs.com
Celtic Manor Resort* - c eltic-manor.com Pisano - p
isano.co
Cliniconex - cliniconex.com Pretio Interactive - p
retio.in
Codeherent - codeherent.tech ProntoForms - p
rontoforms.com
CounterPath* - c ounterpath.com SaaSquatch - s aasquatch.com
CreatorDen - c reatorden.com Segmentify - segmentify.com
CulturVate- culturvate.co.uk Solace* - s olace.com
Diskyver* – diskyver.com Solink - s olinkcorp.com
Echosec* - e chosec.net Talkative* - t alkative.uk
Encepta - e ncepta.net TaraSpan - t araspan.com
Encore Networks - e ncorenetworks.com Teldio - t eldio.com
English Ninjas - englishninjas.com ThinkRF* - t hinkrf.com
Enjovia - e njovia.com Twentify - t wentify.com
Hut Six - hutsix.io Wesley Clover Parks* - w
esleycloverparks.com
HyAlto* - hyalto.com Wesley Clover Solutions - w
esleycloversolutions.com
Q is a Quarterly publication of Wesley Clover, highlighting some of the latest accomplishments from the wide range
of businesses in our portfolio. Visit wesleyclover.com for more information.
HEAD OFFICE US OFFICE EMEA OFFICE
WESLEY CLOVER WESLEY CLOVER WESLEY CLOVER
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+1.613.271.6305 Chantilly, VA 20151 NP18 1HQ Additional offices are listed on our website.
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