Wesley Clover Quarterly Update

WESLEY CLOVER QUARTERLY UPDATE

AUGUST 2016

Sharing Summer Successes Welcome to another issue of Q, the that is applied, as well as the rich net- Wesley Clover Quarterly Update. work of initial customer and channel As the summer months arrived in the partner contacts that the companies Northern Hemisphere, they brought are exposed to, provides them with a with them a time of both hard work far greater chance of success than they and relaxation. This packed Update would have otherwise. provides you with some of the You will also read how some of the planned. New properties were added noteworthy developments, from the larger companies are continuing to to the portfolio. Outstanding events technology side of the portfolio across lead their industry sectors. This is the were hosted and managed. Customers to the real estate and philanthropic objective of all the companies, large and guests were treated to top-notch activities. and small, regardless of where they services and entertainment. are started. And it creates a dynamic To begin, you will read about a So please read on. I am happy to share ecosystem within which partnering, number of the new technology these Quarterly Updates with you, and technology sharing, joint marketing companies as they gain their initial I hope you continue to enjoy receiving and selling, and other mutually bene- market traction, both domestically and them. internationally. This in no small way is a ficial relationships are enabled. All to Kind Regards, result of the unique investment model help each other continue to grow and Terry Matthews, Chairman that Wesley Clover wraps around these go global fast. start-up companies, providing much On the commercial and leisure real more than just seed funding. The estate side of the business, things con- active management and mentoring tinue to move forward and expand as

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. A VERY REWARDING Product and service margins The team was honoured in recognition of his lengthy grew 70% from the same twice by their local technol- contributions to the Victoria QUARTER Quarter a year ago. ogy community at an annual technology community. Awards banquet. Company RETIO Interactive is a leader The company established CTO Rob O’Dwyer and A rewarding Quarter indeed. Pin creating more effective partnerships with two large Senior Software Developer We look forward to sharing advertising within mobile mobile advertising networks Aurora Walker were both more success stories from Pretio applications and games. Pretio in China, in each case to recognized as Employees Interactive in future issues of this technology aggregates mobile deliver campaigns and audi- of the Year. Also, CEO Jim Update. pretio.in  Better engagement programs and ences from North America Hayhurst was honoured reward networks and provides to China. with the Colin Lennox product brands with pow- Technology Champion Award Management erful consumer awareness. Not through ads, but through of the rewards. Research proves that this approach enables brands Masses to reach hard-to-get consumers where and when they most want to be reached.

TTAWA-BASED InitLive is an Launched in the summer of 2015, And going forward, the team con- The increasingly popular tech- Oevent management software InitLive software has already helped tinues to work directly with existing nology propelled the company company that takes a mobile-first some prestigious international and new clients to develop key new to four significant milestones approach to managing the most clients run very successful events, features that will be unique in the over this latest Quarter: mobile of event resources — the including: event management marketplace. paid and/or volunteer team on the The World Economic Forum We are impressed with the customer Revenue grew 45% from the ground. The company has created a IEEE Globecom response to this new software plat- same Quarter last year. cloud-based system that includes a The Academy of Country Music form to date, and look forward to web service and a free mobile device Awards sharing more success stories from application. Together, these tools Girls Scouts of America the company as it continues on its equip event planners and manag- Johns Hopkins University growth path. initlive.com  ers, event staff and volunteers with One Young World Leveraging a Digital Advantage superior planning, scheduling and Ottawa 2017 real-time communication capabili- Toastmasters International VANCOUVER-BASED Encepta Encepta brings a ‘smart’ design process to a Suite and Field Data Collection ties to leverage before, during and Project Lead the Way In it is a digital-first service provider Application for Android were after their festival, conference, sport- Tufts Medical Center to the telecommunications traditionally low-automation environment, also enhanced with new inte- ing, campus or other event. Abu Dhabi F1 Grand Prix Live and infrastructure engineering emphasizing the use of digital photos, grations to enterprise customer Omega Dubai Dessert Classic industries. The company uses videos and mobile software instead of Plant Management Systems, InitLive software reduces the effort Keller Williams Real Estate proprietary software to conduct increasing the reach of the and time required to set-up events, mapping and infrastructure paper forms, drawings and binders. Encepta software tools. increases manager control and effec- During the most recent Quarter, the assessment projects that serve tiveness during events, and improves team was busy initiating or complet- as inputs for the design of ongo- photos, videos and mobile soft- of and return on their capital The upcoming Quarter will see staff communication throughout. ing projects to ensure the software ing expansions and upgrades ware instead of paper forms, infrastructure investments. further expansion of the profit- It elevates the coordination and can be used internationally — for to outside ‘plant’ (poles, towers, drawings and binders. able service operations for the performance of the full team sig- example, it already offers an English, wirelines, etc.). The latest Quarter saw customer company, and an improved feed- nificantly. The result is smoother, French or Hebrew interface. Work The new designs, and the digital traction continue to increase back loop surrounding in-house safer, more successful events, and continues to optimize performance Encepta brings a ‘smart’ design data that accompanies them, for the company, with the addi- use of the software products — by extension, happier attendees and on the web and on the iOS and process to a traditionally enable customers to increase tion of several new Engineering a process which already drives more satisfied sponsors. Android mobile platforms, leading low-automation environment, efficiency, save time, reduce cost firms to the satisfied client list. ongoing improvements for the to greater product scalability and emphasizing the use of digital and thereby improve the success The Job Management Software benefit of external customers.  support of even larger events. encepta.net

2 WESLEY CLOVER QUARTERLY UPDATE | August 2016 WESLEY CLOVER QUARTERLY UPDATE | August 2016 3 Encore Networks Honoured for Exceptional Innovation Martello SaaS Driving Success for Mitel Customers

NCORE NETWORKS, based in Virginia, USA, is “We are pleased to win this Product of the Year award. ANAGING the performance of almost And Martello is working hard to add ever Good corporate and community citizens Ea leading developer and manufacturer of com- It validates our efforts to stay at the forefront of the M10,000 devices now, MarWatch more value for the global Mitel partner com- in our opinion – keep up the terrific work. mercial-grade and industrially-hardened data fast growing M2M and IoT devices markets, which Software-as-a-Service from Wesley Clover munity. The upcoming release of software martellotech.com  routers. At the close of the latest Quarter, the rely on LTE and CAT 1 technologies,” stated Peter company Martello Technologies is a value- will expand support for the popular MiVoice company announced that the EN-1000™ CAT 1 Madsen, President and CEO of Encore Networks. “The added fault monitoring and detection appli- MX-ONE platform and introduce key analytics LTE router has received a 2016 IoT Evolution EN-1000 is purpose built for applications requiring cation for Mitel Enterprise products, and it is capabilities. Top channel partners in the UK Product of the Year Award from IoT Evolution low-cost and high-performance. It was developed becoming a ‘must have’ for customers. Since had a sneak peek at this new feature set at Magazine and IoT Evolution World, the for and certified on Verizon Wireless networks, the the toolset was bundled into the Premium the Mitel Elite Experience channel meetings leading magazine and website covering most reliable LTE networks in the U.S.” Software Assurance offering last year, clients held in July. Audience response was very Internet of Things technologies. say Mitel Performance Analytics (the pro- positive. Carl Ford, CEO of Crossfire Media, a co-publisher of prietary brand for the solution) is now the With an industry-leading MSRP of $199.00, IoT Evolution shared the news, and commented, reason they purchase the upgraded tier of Success for Martello also includes giving back and designed specifically for wireless IoT and M2M “The solutions selected for the IoT Evolution Product coverage. to their local community. The company intro- Martello Sales Director Pardeep Koonar s (Machine to Machine) applications, the compact of Year Award reflect the diverse range of innovation duced an Employee-Directed Gift program peaks to Mitel Channel Partners at UK Sales EN-1000™ includes a license free protocol suite for IP driving the machine-to-machine market today. It is According to Mitel partner Southeastern recently, encouraging employees to direct Experience, July 6, 2016. routing, VPN, Firewall, Ethernet and IP Interworking. my honor to congratulate Encore Networks for their Telecommunication Services: “Premium a donation to community organizations The router automatically detects network failures innovative work and superior contribution to the Software Assurance is now a standard offer- they are passionate about. “We wanted to and switches seamlessly to LTE or WAN mode as pro- rapidly evolving industry.” encorenetworks.com  ing for us, because of Mitel Performance recognize the causes that are important to grammed via multiple VPN tunnels and VLAN sup- Analytics. It has changed the way we our team, and encourage employees to be port. Reliable communications can be maintained deliver service, from reactive to proactive. actively involved in their community. It’s all via standard SNMP workstations or the EnCloud™ We can now stay ahead of problems for our part of how we define success”, said Martello Enterprise Management System available from customers”. CEO Bruce Linton. Encore.

Mitel Quarterly “Strong execution across all seg- Mitel Mobile secured 15 new company continues to be a ProntoForms Marks Yet Another Consecutive Quarter of Growth ments enabled Mitel to deliver technology wins, bringing the market leader and one that Revenues, EPS outstanding second quarter total of such wins to 50. With is increasing its dominance RONTOFORMS is a mobile workflow measurement solutions, and Fleet Complete, Outperform Once results that exceeded analyst 19 global carrier customers in key areas including the Pplatform used by more than 3,500 cli- a leading provider of mission critical fleet, consensus and beat the high end now actively rolling out Mitel Americas and Europe. ents to collect and analyze field data with asset and mobile workforce management Again of our guidance,” said Richard Mobile solutions, the com- smartphones and tablets. The company has solutions. McBee, Chief Executive Officer. pany has already exceeded its Looking forward, the company now enjoyed an impressive 21 consecutive HE latest Quarterly results are “We are especially pleased with 2016 full-year target for live has set solid guidance for the Quarters of revenue growth, and is using that On the end-customer side, ProntoForms Tin for Mitel® (Nasdaq:MITL) the strong performance of our deployments, with 6 months next Quarter, and is continuing growth to invest across all areas of the busi- recently published new success story (TSX:MNW), a global leader Enterprise Division, which capi- still remaining in the fiscal to build momentum. Positive ness. One very tangible example this past videos showcasing how the technology in real-time business, cloud talized on our broad global port- year. And with bookings announcements have now been Quarter: an expanding workforce triggered a has improved business processes at AAA and mobile communications, folio to take market share.” for the Quarter up 27% released from Bouygues Telecom, move to a larger corporate headquarters. Carolinas and Pesado Energy Services (a and again they are impressive. year-over-year, continued Michael Johnson Performance level. Clients who demand a robust and video produced in conjunction with Apple). The company reported total The following are additional strong performance can be and Frost & Sullivan. Visit the “Our continued investment in additional scalable mobile solution, delivered by a com- GAAP revenues of $307M for highlights from the Quarter: anticipated from this business Newsroom link on the Mitel employees is not only strengthening the pany with a proven ability to meet the high- We will keep readers aware of ongoing the period, an increase of 11% segment. website for full details. Q looks solutions we offer,” said CEO Alvaro Pombo, est standards of service quality and reliability. developments at ProntoForms in future year-over-year. EBITDA also rose, Recurring cloud seats grew forward to tracking these and “it is also helping the company establish issues of Q. prontoforms.com  to $46M, a 43% year-over-year by 31,000, beating the 18,000 In terms of Unified other key developments from mature and well-documented processes The company also benefits from partner- increase. Both of these results new seats added in the pre- Communications and the the company in the next issue. and policies that are required when serving ships with top-brand technology players ® exceeded the high end of the vious Quarter and increasing Enterprise Division overall, mitel.com  enterprise customers.” such as Apple, Google and AT&T. This latest guidance put forward by the total deployments to more third-party research from quarter saw ProntoForms enter new vertical company. than 450,000. firms such as Gartner and ProntoForms has continued to experience markets by virtue of adding new partner- MZA Ltd. confirms that the increased success with clients at the enterprise ships with ikeGPS, a provider of smart laser

4 WESLEY CLOVER QUARTERLY UPDATE | August 2016 WESLEY CLOVER QUARTERLY UPDATE | August 2016 5 Teldio Making Significant Inroads into ‘Mariposa’ No Match Thanks to his growing reputation in the industry, Chris was approached Busy Conference Season for HYAS Talent and by an international team of law Data Center Market enforcement agencies and asked to for Echosec grow across a variety of vertical footprint is being explored with Technology help fight the ever-spreading threat. CHOSEC, the location-based social media search and markets, including manufactur- this customer. Chris of course agreed. He gave E analysis company in the portfolio, was busy increasing, hospitality, education and YAS, a recent addition to the the virus the code name ‘Mariposa’, ing corporate visibility this past Quarter. Users of the regional government. Strong In other developments, adoption HWesley Clover portfolio, is a launched the Mariposa Working technology can access all publicly posted, geo-tagged repeat business speaks to the of D3M, the unique Teldio web skilled information security firm Group, and ultimately was responsi- social media within an area of their choosing on a map. As value customers find in this application which simplifies the developing valuable technology — ble for the forensic investigation that might be expected, this capability is of particular interest applications portfolio. process of designing, document- unprecedented data and network led to one of the FBI’s first successful to the Security, Investigation, Geographic Information ing, deploying and managing protection — for the enterprise, SMB prosecutions of international com- System (GIS) and Law Enforcement communities. Of particular interest, deploy- networks including those using and consumer markets. It’s Founder puter crime. ments over the past year in cus- radio technology, continues to and CTO, Chris Davis, is an example of Of note this Quarter, Echosec exhibited at the 2016 Esri tomer data centers have made grow. Dialogue on use cases the impact Wesley Clover entrepre- Chris was later recognized for his (Environmental Systems Research Institute) User this one of the fastest growing with additional manufacturers neurs can have on the global stage. leadership in this battle with the Conference, which drew more than 16,000 attendees. sectors for the company. One in the two-way radio space Global Hero Award from Microsoft, Echosec announced at the show the launch of Echosec global data center client started also continues, and all contacts Not long ago, Chris was instrumental and equally if not more impres- Pro for ArcGIS Online, an application developed to a rollout of Teldio technology in have expressed interest in D3M in stamping out one of the largest, sively, with the Director’s Award of enable rapid search, retrieval and import of real-time its North American operations implementation for internal and most nasty botnets ever unleashed. Excellence from the FBI. To date, Chris social media posts into ArcGIS, the industry-leading, earlier this year. As of this lat- reseller use. At its peak, this virus was estimated is one of only a very few non-FBI cloud-based GIS mapping Software-as-a-Service hosted ELDIO is a two-way radio est Quarter, 18 sites had been to have infected more than 15 mil- employees ever to receive this pres- by Esri. The new Echosec application is now available Tapplications developer whose installed. More than one hun- Plans for the coming Quarter and lion computers and to be active tigious honour. within the Esri Application Marketplace, which is provid- scalable solutions help enterprise dred locations remain for back- beyond reflect top line growth in practically every country on the ing the company with excellent exposure to this import- customers integrate radio net- log, and again, that represents on both sides of the business. globe. It penetrated the networks of Chris was all too happy to help. And ant community. works with existing third-party only the North American opera- The bar continues to be raised most Fortune 500 companies, most he continues to help drive HYAS for- infrastructure and applications tions. Naturally, interest in mak- and all hands remain on deck Canadian banks, the Canadian and ward based on this impressive track In June, members of the Echosec team flew to London to create unified communica- ing Teldio the partner of choice to make it happen. U.S. governments, and even the UN. record. Now in limited ‘beta release’ where CEO Karl Swannie spoke at the IO Global tions networks. Implementation for application deployments teldio.com  While Botnets are always a threat, this with Fortune 500 companies and the Countering Violent Extremism summit. In his talk, Karl of Teldio solutions continues to across the even larger global malware was particularly malicious, world’s largest information security addressed the importance of social media monitoring stealing login credentials, financial firms, the HYAS security intelligence as it applies to global security and military operations. and other data and transmitting this platform, named ‘Comox’, is being As Karl likes to say, “if you have a fence, you need a critical information to a global net- designed and engineered by Chris geo-fence”. Cliniconex Joins Wesley Clover Portfolio work of cybercriminals. and his team to become the new industry standard. Comox is also at Echosec was also fortunate enough to be honoured with LINICONEX, a graduate from the latest proposition for all stakeholders. Clients are higher recurring revenues the core of the forthcoming DNS a number of awards during the Quarter. In their local CL-SPARK Accelerator program, is a SaaS coming to recognize Cliniconex as the leader moving forward. defense offering from HYAS, provid- tech community, the company was the recipient of the company focused on improving the pro- in this regard. ing predictive blocking of malicious VIATEC award for Innovative Excellence — Software or ductivity and effectiveness of interactions Graduating from L-SPARK in July, the com- internet domains and industry- Service. Further afield, Echosec UK CEO Ben Milsom was that medical, dental and other clinics have Over this last Quarter, the company expanded pany closed a seed financing round of leading protection from malware, honoured as the Young Business Person of the Year at with their patients. The Cliniconex software its user base by 15% and can now count $500K and moved into its first dedicated ransomware, phishing, botnets and the 2016 Business Awards. Echosec UK was also nomi- enhances communications through elec- more than 1500 Canadian healthcare provid- office space in the Kanata Research Park at other threats. nated as the Global Start-up Company of the Year at the tronic reminders, surveys, and recalls for ers as customers, including doctors, nurses, that time. The L-SPARK program enabled the Wales Start-up Awards. appointments. More productive outreach to dietitians, physiotherapists and others. This company to expand its internal team and its We feel better already. Stay tuned patients is one of the best ways to promote customer growth propelled the company to customer prospects list, and both helped for further developments in future People are taking notice of this innovative young com- long-term health, gather better patient record Quarterly revenues, up a similar 15% drive almost a doubling of recurring reve- issues of Q. hyas.com  pany, and we will continue to report on their progress. feedback, and make the best use of health from the previous Quarter. Cliniconex also nues over the nine-month duration. echosec.net  provider and patient time at the clinic. As increased its key channel partner relation- We will keep our eye on this new graduate a result, it also helps manage and reduce ships during the Quarter, and is working with as it continues to morph into a very viable associated costs, which is a strong value these and all its partners toward significantly new business. cliniconex.com  Chris Davis, Founder and CTO, HYAS photography: conceptphoto.ca

6 WESLEY CLOVER QUARTERLY UPDATE | August 2016 WESLEY CLOVER QUARTERLY UPDATE | August 2016 7 GOING MOBILE FOR ADDED CUSTOMER VALUE Three New Teams Set to Graduate CounterPath Now Integrated commitment to create innovative com- Todd Carothers, EVP of Sales and Marketing ® munications experiences. That leadership at CounterPath, in a July press release. “Bria HE Better Software Company, a graduate from the first L-SPARK at Alacrity UK with Salesforce continued this past Quarter as CounterPath for Salesforce enables enterprises to increase TAccelerator program, provides a revolutionary, all-in-one small OR more than a decade, Wesley Clover announced the general availability of Bria for productivity by integrating communication business management solution, named BPro. Cloud-based and now HE Alacrity Foundation (Alacrity UK), the charitable technol- Fcompany CounterPath Corporation Salesforce, an integration of the Bria client tools within Salesforce, to reduce the need available across fixed and mobile devices, BPro helps both estab- Togy incubator based in Newport, South Wales, brings start-up (Nasdaq:CPAH) (TSX:CCV) has been revo- with this industry-leading CRM software. for internal reporting activities with the auto- lished and growing new companies streamline critical aspects of teams together to solve real world problems with software solu- lutionizing the way people communicate. The solution is designed to address chal- matic collection of customer interactions, their business and improve their core operational processes. tions. At the close of the Quarter, three teams graduated from the The company was a pioneer in over-the-top lenges identified by Salesforce users related and to gain valuable and actionable insight latest Alacrity Graduate Entrepreneurship Programme. Here is a (OTT) unified communications (UC) plat- to the lack of access to real-time (RT) collab- into customer metrics with pre-built dash- BPro is unique in that it provides a single, shared tool to connect quick introduction to the innovations these bright young minds forms, and it has become a top supplier of oration from within the CRM, as well as the boards and reports.” and integrate key functions across the business. It improves data have been concentrating on: these solutions to SMBs, enterprises and ser- integration of RT communications data and accuracy and flow, employee communication and productivity, and vice providers globally. analytics. Bria for Salesforce is now available on sales management and growth — details that are all essential for HUT 6, appropriately named after the building where World Salesforce AppExchange, a leading enter- target customers. War II codebreakers cracked the German Enigma encryption Bria, the carrier-grade and flagship soft- CounterPath seized on the opportunity prise applications marketplace for cloud, machines, is an IT security team focused on combatting human phone from the company, is an industry to change this, enabling Salesforce users mobile, IoT and data science technologies. After a strong growth Quarter to begin 2016, the past three months behaviours that can leave organizations vulnerable to security favourite, enabling users to make secure VoIP to centralize their communications, make In the short time since the full release, have been focused on product enhancement, strengthening the breaches. The impetus behind the team was provided by a local audio and video calls, send instant messages, their contextual data more accessible, and CounterPath has seen a high uptake in trial corporate brand and widening the audience reach. The results add technology company that is looking for solutions to safeguard manage presence and screen-sharing across increase their productivity as a result. installations, and expects to see continued significantly to the user value of BPro, and open a new customer itself against simple human errors that could expose their multiple devices and operating systems, all adoption of the product moving forward. segment for the Company starting in the upcoming Quarter. valuable intellectual property. using a hosted or an existing premises-based “There are an abundance of customer expe- We will bring you further updates in future call server. rience and IT professionals who are looking issues of Q. counterpath.com  The new BPro Mobile App, available for free to all BPro clients, allows In the face of constrained public funding, local authorities and to implement business and technology access to all business details whenever and wherever the user is other government agencies are seeking new ways of main- Millions of users across various business sec- solutions to solve today’s most pressing connected to the internet. The addition of more Business Insight taining services. One option being pursued is to better engage tors have benefited from the CounterPath customer engagement challenges,” said Reports further enable the business owner to make informed, timely, civic society in their local community activities. As a result, data-driven decisions. Principals can keep track of what’s happening volunteering is finding a rich new vein of opportunities. The across the operation at any time, without taking the focus off their secret of a successful volunteering program lies in the ability own daily priorities. to create schedules that match the availability of the volunteer Vietnam Seminar a Precursor with the requirements of the organization. Volunteer Space has to Further Global Expansion? Another key enhancement to the BPro Platform this past Quarter created a volunteer management platform that addresses these is Advanced Multi-Location Support, which effectively opens the requirements. The company is now pursuing its first product IETNAM is not yet on the list of the door for the Better Software Company to the extensive and lucrative installations. Vworld’s most innovative countries, but franchise customer market. More momentum for the company as it the rapid economic growth and increasing continues to pursue its vision of creating a universal Small Business Codeherent responded to a technical challenge from a Financial international engagement it has enjoyed Management Solution. We will continue to watch and report back Times (London) Stock Exchange 100 company which needs is starting to attract investor attention. This in Q … thebettersoftwarecompany.com  to improve the efficiency and effectiveness of its own product was further evidenced in the latest Quarter Ho Chi Minh City, Vietnam development activities. This company has a significant on-line when guests packed a sold-out seminar on retail presence, and the constant updates and improve- start-up opportunities in Ho Chi Minh City, perhaps only a matter of time before large and local entrepreneurs. Greg Vanclief, ments required to maintain that presence are causing issues. Vietnam. Wesley Clover was among those in valuations can start to be ascribed to the Managing Director of Global Investments for Codeherent set out to develop key new software management attendance, co-sponsoring the proceedings Vietnam equivalents of Alibaba and Uber. Wesley Clover, spoke at this event, and met tools that will enable the retail company to plan and resource and getting a first-hand sense of the local The increasing standard of education and with a number of local start-ups during his its development projects more accurately. These new tools are potential. technical capabilities in Vietnam, particu- time there. Stay tuned to future issues of Q planned for trial installation early in the coming Quarter. larly around the technology core in Hanoi, to learn if Vietnam gets added to the Go Attendees came from all aspects of the will definitely help enable such start-up Global Fast landscape we promote.  We will continue to monitor these latest entrepreneurial startup community — venture capitalists, successes. ventures and share the news on their progress as it becomes angel investors, successful founders, new available. alacrityfoundation.co.uk  founders, incubators and accelerators. While And so, potentially, could the Alacrity invest- it became clear there are still constraints ment model, which has been developed in particular on early-stage fund raising, by Wesley Clover to appeal directly to such Vietnam is also learning much from devel- emerging markets, including the key stake- Panelists discuss opportunities and challenges opments in near-by India and China. It is holders of local governments and academia, in the Vietnam start-up environment

8 WESLEY CLOVER QUARTERLY UPDATE | August 2016 WESLEY CLOVER QUARTERLY UPDATE | August 2016 9 Twentify scores points with NBA Istanbul, with a population of 14.7 million, Twentify Technology is Turkey’s largest city. Leveraged Extensively at Along with tremendous 2016 NBA All-Star Weekend historic significance, an extensive cultural WENTIFY, one of the Wesley Clover The Twentify team began the process that a mobile ethnography application community and CreatorDen the Latest Start-Up to Launch Tstart-up companies based in Istanbul, of global business expansion late last such as Bounty can provide, the potential considerable ethnic Turkey, has developed a SaaS platform year. In this case, that meant ‘in to’ North for identifying hidden consumer insights in Istanbul that enables business clients to mobilize America, not ‘out of’ it. Evidence of initial is almost limitless.” diversity, Istanbul also REATORDEN is a self-service, online This past Quarter was significant for the an engaged crowd of smartphone users success came early in 2016 when the boasts a thriving high- C marketplace that connects social company as it marked the first release of and have that crowd collect field data company secured a partnership to use The company enjoyed some additional tech community. media influencers with leading product the product to market. The launch was and capture user experiences on behalf Bounty in a range of applications at the PR exposure this last Quarter in one of and service brands, as well as other media, supported with the creation of a first- of the client. Named ‘Bounty’, the platform 2016 National Basketball Association All- the Canadian national newspapers. The PR and advertising agencies, to create 1:1 of-its-kind Quarterly Report analyzing couples with the power of crowdsourcing Star Weekend, held in February in Toronto, Financial Post ran THIS STORY about the campaigns designed to engage targeted the evolution of the advertising industry and smartphone technologies to deliver ON. The results of that exercise were only company. audiences. The CreatorDen platform and and the growth of influencer marketing accurate, real-time data, and does it very published recently, but they clearly speak mobile application enable these parties within it. “Influencer Talks”, a blog and cost effectively. Bounty provides valuable to the power of the service. As you will read, the company already has to more easily connect, collaborate and digital marketing campaign, was also product or service insights that lead to more than 19,000 North Americans in its transact in brand-appropriate projects. launched to attract and begin building a better business decision-making. You can read the full article HERE, but to field ‘work force’. There remains plenty of community around key industry person- quote the client: ground to cover to match the 150,000 The term ‘Influencer Marketing’ is being alities with large social media followings. “With the breadth of users they now have in Turkey, but it is used to identify this new approach to “Overall, this proved to be an excep- only year-1 for things over here, after all! customer attraction and retention. With To date, 10 client companies have been information that a mobile tionally effective tool to collect in-the- consumers rejecting traditional digital engaged and more than 200 micro- ethnography application moment data in order to gain a greater Suffice it to say that traction seems to advertising methods, alternatives like influencers have been cultivated. Over such as Bounty can provide, understanding of consumer behaviour be building nicely. Stay tuned for fur- influencer marketing are becoming the coming Quarters, the aim is to con- the potential for identifying and experiences. With the level of detail ther updates about this innovative increasingly important for companies in tinue validating the ROI of influencer our clients are often looking for in terms new company in future issues of Q. their quest to reach target audiences in marketing and secure an increasing hidden consumer insights of customer experiences or journeys, twentify.com  more authentic, less obtrusive, more suc- portion of the digital media spend of is almost limitless” real-time responses are needed more and To access the linked articles in this story please cessful ways. the Fortune 500 companies. We will be — Twentify Customer more. With the breadth of information go to wesleyclover.com/Q to download a PDF watching … creatorden.com 

10 WESLEY CLOVER QUARTERLY UPDATE | August 2016 WESLEY CLOVER QUARTERLY UPDATE | August 2016 11 OCUSED on Enterprise SaaS and cloud start- Islands area of Ontario. The seafaring pitches were Fups, L-SPARK continues to leverage its hands-on followed by an afternoon BBQ at the cottage of L-SPARK mentoring and nurturing programs and its estab- Wesley Clover Chairman Terry Matthews, conve- Continues to lished relationships with key venture capital firms, niently located nearby. A number of follow-on angel investors, and the investment community engagements between start-ups and guests con- Generate Demand at large to drive a deal flow of fundable young tinue to take place from this gathering, and the and Deliver Value companies. This latest Quarter was a very busy and results are looking quite encouraging. productive one for the team. Last but certainly not least this Quarter, L-SPARK The application process for the next Accelerator also launched ticket sales for SaaSNorth, Canada’s session was a key project. To continue increasing first conference designed exclusively for SaaS the awareness of and demand for the program, leaders to learn, network and grow. Being held the L-SPARK team conducted another of its in Ottawa on November 30th and December 1st, Entertainment and Star-Spotting #SaaSRoadshow tours, visiting innovation hubs 2016, this inaugural two-day event is expected across Canada. Meetings to share the L-SPARK to draw more than 1000 delegates from across Combine at the Celtic Manor story with prospective SaaS start-ups were held in Canada as well as the north-eastern United States. Ottawa (75 attendees), Montreal (300 attendees), The theme of the event, “From the Ground Up: Toronto (800 attendees), Waterloo (200 attendees) Building Global SaaS Organizations”, will be rein- HE five-star Celtic Manor Resort in South Wales had all the way down to a Nearest-to-the-Pin play-off. When he and Vancouver (200 attendees). forced by more than 50 relevant presentations and Tanother busy Quarter welcoming guests and hosting fired his 100-yard pitch to just 12 feet from the hole, Irish content from SaaS industry leaders that include: some outstanding sporting and social events. captain Keith Duffy thought he had made amends for miss- By the time the application process was coming an earlier putt that would have won the team the trophy. pleted, more than 200 submissions had been Tobi Lutke, Founder/CEO, Shopify In June, the resort held the annual Polo However, Scottish rival Rory Lawson handled the pressure reviewed and 12 new companies were selected to Steve Woods, former CTO, Eloqua at the Manor event, where more than and landed his shot one inch closer, snatching the victory compete in the formal Pitch Session at the end of (sold to Oracle for $600M) 3,000 people enjoyed an afternoon sip- and the champagne celebrations away! September. The winners of that session will then Michael Serbinis, Founder/CEO, LEAGUE Inc. ping champagne and cocktails in the enter the 9-month intensive program beginning in Zander Lurie, CEO, SurveyMonkey sun, while watching the Sport of Kings. These events prove tremendously popular each year, and October. Scott Millar, CEO, Vision Critical Guests in the VIP hospitality area were dates have already been set for their return in 2017. They are Mike McDerment, Co-Founder/CEO, Freshbooks treated to a three-course gourmet lunch just two of the events that continue to draw thousands of Also during the Quarter, the L-SPARK community Michael Silagadze, Founder/CEO, Top Hat with wine. Many more spectators lined families to the three hotels and 10 luxury Hunter Lodges at of mentors, advisors, investors and corporate part- Mike Currie, Global Director of Sales the other three sides of the polo arena the Resort over the summer months. Other entertainment ners gathered to celebrate the graduation of the Engineering, Hubspot to enjoy picnics. All were treated to two attractions include the treetop rope courses, adventure second ‘Best in SaaS’ cohort. Each of the start-ups Kim Walsh, Global Director, HubSpot fast-paced games of polo, organized by golf, archery, laser combat and, new this year following the from the latest L-SPARK Incubator and Accelerator for Startups the prestigious Cirencester Park Polo success of Wales at the Euro 2016 soccer finals, “FootGolf”. programs showcased their progress to a sold out Diana Chiu, Senior Manager of Corporate Club, where Princes William and Harry are Look that one up online to learn more, and keep read- audience in a fun-filled evening of presentations Development, Hootsuite regular players. ing Q for more great stories from the Celtic Manor. and entertainment. A video of the festivities can be Bram Sugarman, Head of Corporate celticmanor.com  viewed HERE. Development and Strategic Partnerships, A few weeks later, top-class sport and star-spotting were Shopify again combined for the Celebrity Cup golf tournament, On the heels of this celebration, the team con- played on the Roman Road Course at the Resort. This event ducted the second annual L-SPARK Canadian Not bad for a single Quarter! The next one will cer- saw teams of six celebrity golfers, representing England, Cottage Pitchfest, an invitation-only event that tainly be consumed with selecting and onboard- Ireland, Scotland and Wales, do battle over two days of this year attracted more than 140 accredited angel ing the next Accelerator cohort, and continuing to competition. The day also offered the many spectators the investors and venture capital firms from Canada drive the logistics, marketing and ticket sales for opportunity to get up close to some of their favourite sport- and the U.S. Guests included representatives the SaaSNorth conference. Among other things ... ing and showbiz stars, and collect some prized souvenir from BDC, OMERS, Vanedge, Angel One Network autographs and selfies as well. and others. Again, each of the current Incubator We will be sure to share another update in the and Accelerator start-ups presented their refined next issue of Q. l-spark.com  Defending champions Wales suffered a reversal of for- investment pitches, in this case on a large boat To access the links in this story please go to tunes and finished a disappointing last place this year, but as it sailed through the impressive Thousand wesleyclover.com/Q to download a PDF Scotland and Ireland put on a thrilling final match, fighting

12 WESLEY CLOVER QUARTERLY UPDATE | August 2016 WESLEY CLOVER QUARTERLY UPDATE | August 2016 13 Wesley Clover Parks Latest Quarter Another Busy One

HIS latest Quarter was another strong one for average, they are more than 90 per cent occupied. KRP Expands TKRP Properties, the Ottawa commercial real They’re in good shape.” estate operation of Wesley Clover. In addition to Footprint meeting aggressive expectations around perfor- While KRP is now expanding its reach beyond mance metrics such as occupancy rates, revenues Kanata, it remains focused on its customer base, Once Again and profits, the big news was the addition of nine which is mainly technology companies. And it new office properties to the portfolio, expanding also retains a strong commitment to delivering the presence for the company both in Kanata and, more than just space. “One of the drivers behind for the first time, in other areas of the National this deal was to accommodate smaller tenants Capital Region. and start-ups better than we could before,” said Mr. Vandewouw. “We strive to create an environ- “The agreement included 3 buildings in the Kanata ment that allows the technology companies in this North Technology Park on Innovation Drive and area to thrive. A big challenge for tech companies 3 buildings in the Kanata Research Park on March is attracting and retaining top talent, so making Road,” said KRP president Martin Vandewouw. sure you’re in the right location, making sure you Not-for-profit community hub CAMP “Beyond Kanata, the other properties — one offer attractive amenities, making sure you’re pro- Major promotion and events at the Parks continued to drive an on Queensview Drive, one on Capella Court and viding the right kind of ecosystem, these are all Wesley Clover Parks was very increase in campers, with sites for Victoria Day, St. Jean Baptiste Day, another in Gatineau — enable us to expand our part of the equation.” active and successful on a number Canada Day and the Ottawa Equestrian Tournaments all selling out. In wheelhouse. It’s our first foray into owning and of fronts during this last Quarter. fact, nearly all sites are already booked for Canada Day 2017! Combine managing properties outside of Kanata North.” In that same vein, these new properties allow KRP that major anniversary for Canada with the growth of the Ottawa to offer greater flexibility to tenants. “It’s one of the Highlights include: Equestrian Tournaments and a number of other events, and 2017 is The deal was valued at $70M and added more unique things that we as a real estate company are likely to be busier still. than 425,000 square feet of space to KRP holdings. able to offer,” said Mr. Vandewouw. “A technology The company already had 2.8M square feet of company may have a hard time forecasting busi- The addition of shuttle bus service to and from Parliament Hill has prime office space across 26 buildings under own- ness beyond 18 months, yet they have to sign for proven quite popular with campers. Shuttle service operates Thursday ership and management. These new facilities raise office space in three-year or five-year increments. through Sunday and continues for the duration of the season for the the totals to 35 buildings and almost 3.3M square Sometimes the space they commit to turns out to daily “Changing of the Guard” ceremony on the Hill. feet of space. be too small or too big over that time. Given the increasing size of our portfolio, and the fact that FARM Mr. Vandewouw added that, “While there may the buildings for the most part are all in the same The hay fields that help feed the 55 horses and 1 donkey that make be some further capital investment needed, the area,Panelists we have discuss the the flexibility opportunities to helpand challengesthose tenants in their home at the Parks were seeded last Quarter, and produced their buildings for the most part are already leased. On out if they find theythe needVietnam to start-upmake changes.” environment first harvest in July. The yield was an impressive 7,000 bales, and a second cut will take place later in the season. More than just space … krpproperties.com 

14 WESLEY CLOVER QUARTERLY UPDATE | August 2016 WESLEY CLOVER QUARTERLY UPDATE | August 2016 15 The Parks also received 6 hives housing some 300,000 bees from partner company Gees Bees during the Quarter. In addition to pollinating plants in the local area, the bees quickly set to work producing Wesley Clover Parks honey. The first batch was harvested in late July, and it is delicious!

LEARN The Forest School summer camps were sold out for the full season. Regular fall programming starts up in September, and includes full- day sessions for school-aged kids, half-days for preschooler, as well as Parent & Child programs. This Forest School remains the only one of its kind in the National Capital Region.

PLAY Construction began on four additional grass sports fields to comple- ment the existing (and now-lighted!) FIFA-grade turf field installed at the Parks last fall. In partnership with both the West Ottawa Soccer Club (WOSC) and the Ottawa Sports and Social Club (OSSC), these fields will soon host a variety of sports including soccer, flag football, Ultimate Frisbee and more.

RIDE The Ian Millar School of Horsemanship enjoyed another sold-out series of summer-camps during the Quarter, with continual growth in participation now pushing this program to near capacity at more than 300 riders per week.

Ottawa Horse Day drew more than 5,000 spectators to the Parks on the first Saturday in June, more than doubling the event attendance from last year. Plans and capabilities are in place to grow things further in the coming years, so stay tuned for more news as it develops.

The Ottawa Equestrian Tournaments, which over a two week period included both the Ottawa National and the Ottawa International Horse Shows, met with overwhelming demand and success. Despite increasing the stabling for competitor horses to 725 stalls, spaces were oversold in the first week of the show and sold out in the second week. Attendance expectations were also surpassed, with more than 20,000 guests visiting the site over the two weeks. The Parks was honoured to have the newest member of the Canadian Olympic Show Jumping Team, Amy Millar, also stop by during the International show and provide a preview of what was to come at the now-concluded Summer Olympic Games in Rio de Janeiro. 

WESLEY CLOVER INTERNATIONAL 390 March Road, Suite 110 3800 Concorde Parkway, The Manor House Ottawa, ON K2K 0G7 Suite 1500 Newport, South Wales, UK +1.613.271.6305 Chantilly, VA 20151 NP18 1HQ wesleyclover.com +1.703.318.4355 +44.11633.410383 Additional offices are listed on our website. © 2016. Wesley Clover International Corporation. All rights reserved.