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Venture Capital
tandemexpansion.com

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Investments

18

Portfolio Exits

5

Funds

1

Partners & Customers

1

About Tandem Expansion Fund

Tandem is a growth equity investor that has been formed to make significant minority investments in Canadian technology companies with exciting commercial prospects and a unique value proposition. Beyond capital, the Tandem team actively contributes its experience in building companies, its relationships around the globe and its proven ability to create value.

Tandem Expansion Fund Headquarter Location

1250 Rene Levesque Blvd West 38th floor

Montreal, Quebec, H3B 4W8,

Canada

514-510-8900

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Latest Tandem Expansion Fund News

Clickfree Closes $15 Million in Series C Funding from Tandem Expansion Fund

Aug 29, 2013

TORONTO, ONTARIO--(Marketwire - Aug. 17, 2010) - Storage Appliance Corporation, the inventors of Clickfree™ Automatic Backup, the world's easiest consumer backup products, today announced $15 million in new funding from the Tandem Expansion Fund. Storage Appliance Corporation is the leading developer of consumer backup software marketed as Clickfree™ Automatic Backup. With 23 patents pending, this very simple backup technology is only available to Clickfree™ customers. The new funds will be used to drive the rapid worldwide retail rollout by the company of its product line. "We are excited about this investment and the opportunity it gives us to roll out Clickfree even faster than we have been to date. The success we have experienced in the past year has been remarkable, Clickfree is now available in 25 countries and over 7,000 retail locations. This new capital will allow us to accelerate into the next stage of our growth as we continue to revolutionize the backup industry," said Bryan McLeod Chief Executive Officer at Storage Appliance Corporation. "Tandem is the perfect partner for us; they understand the importance of our industry, the enormity of the opportunity, and are committed to building great Canadian technology companies. " "Clickfree is driven by an exceptional team that has built an extraordinary product to address a near ubiquitous consumer pain point - simple file backup and restore," said Christopher Legg, Managing Partner Tandem Expansion Fund. "This is the kind of investment Tandem was designed for - a great Canadian technology team with a proven product ready to take to the global stage. We look forward to working with the executive team to maximize the potential of its unique technology and strategic relationships to fuel future growth in new and existing markets. " Silicon Valley based Pagemill Partners who acted as the company's financial advisor added "The consumer backup category is experiencing explosive growth, and Clickfree has the global audience, strategic vision and seasoned management team to be a significant player in this market," said Scott Munro, Managing Director Pagemill Partners. "Our research suggests the market for backup drives could be over 50 million units annually in a few years, representing billions in potential revenue and we think Clickfree is uniquely positioned to lead in this emerging market. " This financing follows a recent venture round of $10 million in April 2009, bringing the total venture capital raised by Storage Appliance Corporation to just over $30 million. The previous round was led by Toronto's Jefferson Partners. About Storage Appliance Corporation Storage Appliance Corporation, operating under the Clickfree™ brand, makes technology easy for consumers. As the inventors of effortless consumer backup, the Clickfree™ software makes backing up a PC or Mac as easy as plugging it in to the USB port — no software to install or configure. Clickfree is dedicated to offering consumers the Ultimate Backup Experience. Clickfree brings together features that have never before been available in a single backup product including flawless restore. Recognised as the market leader in consumer backup, Clickfree has received numerous awards from CNET™, PCMag™ and Laptop™ magazine. Clickfree's software is not just easier – it's smarter. With 23 patents pending, this exclusive technology is only available to Clickfree™ customers. Visit www.clickfree.com for additional information. (™)2010 Storage Appliance Corp. Trademarks used herein are trademarks or registered trademarks of Storage Appliance Corp. Other product or service names mentioned herein are the trademarks of their respective owners. About Tandem Expansion Tandem Expansion is a private growth capital fund seeking to invest in small and mid-sized Canadian companies in a variety of technology-based sectors. Tandem acts as a catalyst for growth and expansion by making $10-30 million investments in established companies with high growth potential and strong management teams. For more information regarding Tandem or to contact the Fund please visit  www.tandemexpansion.com . Contact Information For media inquiries, please contact: Clickfree Automatic Backup

Tandem Expansion Fund Investments

18 Investments

Tandem Expansion Fund has made 18 investments. Their latest investment was in Coveo as part of their Series D on November 11, 2015.

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Tandem Expansion Fund Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

11/5/2015

Series D

Coveo

$35M

No

2

4/3/2015

Growth Equity

Averna

Yes

1

11/26/2013

Series C

Beyond The Rack

$25M

No

8

11/23/2013

Seed VC

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$99M

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10

10/7/2013

Unattributed VC

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$99M

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10

Date

11/5/2015

4/3/2015

11/26/2013

11/23/2013

10/7/2013

Round

Series D

Growth Equity

Series C

Seed VC

Unattributed VC

Company

Coveo

Averna

Beyond The Rack

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Amount

$35M

$25M

$99M

$99M

New?

No

Yes

No

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Co-Investors

Sources

2

1

8

10

10

Tandem Expansion Fund Portfolio Exits

5 Portfolio Exits

Tandem Expansion Fund has 5 portfolio exits. Their latest portfolio exit was Coveo on November 24, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

11/24/2021

IPO

$99M

Public

3

1/4/2018

Acquired

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$99M

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10

11/2/2017

Acquired

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$99M

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10

12/7/2016

Acquired

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$99M

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10

4/6/2016

Acq - Fin

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$99M

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10

Date

11/24/2021

1/4/2018

11/2/2017

12/7/2016

4/6/2016

Exit

IPO

Acquired

Acquired

Acquired

Acq - Fin

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

Public

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Sources

3

10

10

10

10

Tandem Expansion Fund Fund History

1 Fund History

Tandem Expansion Fund has 1 fund, including Tandem Expansion Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

12/9/2009

Tandem Expansion Fund

Expansions & Growth

Open

$286.67M

1

Closing Date

12/9/2009

Fund

Tandem Expansion Fund

Fund Type

Expansions & Growth

Status

Open

Amount

$286.67M

Sources

1

Tandem Expansion Fund Partners & Customers

1 Partners and customers

Tandem Expansion Fund has 1 strategic partners and customers. Tandem Expansion Fund recently partnered with Averna on .

Date

Type

Business Partner

Country

News Snippet

Sources

Partner

Canada

Averna partners with Tandem Expansion and expands its operations locally and internationally

Averna has offices around the world as well as a network of partners such as JOT Automation , Keysight Technologies , and National Instruments .

1

Date

Type

Partner

Business Partner

Country

Canada

News Snippet

Averna partners with Tandem Expansion and expands its operations locally and internationally

Averna has offices around the world as well as a network of partners such as JOT Automation , Keysight Technologies , and National Instruments .

Sources

1

Tandem Expansion Fund Team

4 Team Members

Tandem Expansion Fund has 4 team members, including current Managing Partner, David Bookbinder.

Name

Work History

Title

Status

David Bookbinder

Managing Partner

Current

Andre Gauthier

Managing Partner

Current

Christopher Legg

Argo Global Capital, Merrill, and Lehman Brothers

Managing Partner

Former

Alex Moorhead

Managing Director

Former

Name

David Bookbinder

Andre Gauthier

Christopher Legg

Alex Moorhead

Work History

Argo Global Capital, Merrill, and Lehman Brothers

Title

Managing Partner

Managing Partner

Managing Partner

Managing Director

Status

Current

Current

Former

Former

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