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HI SN! I Haz Question: We're on a late stretch towards closing a significant enterprise deal, and one of the final negotiation items is around insurance. The client is requesting that we have cyber liability and privacy breach insurance ($10M), and fidelity bond or commercial crime insurance ($5M) - which seems overkill.

Just wondering if anyone here dealt with a similar situation and if you were able to provide acceptable compromises, and secondly, if you have any recommendations around providers should we need to have it in place? Thanks!
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Danish Yusuf and Mudit Singh Rawat like this

Mudit Singh RawatWe just went through something similar around cyber liability with a very large public company. The insurance amount was so high that we weren't even able to secure one as a young startup. I had to personally speak to the financial controller who runs the procurement process to get an exception made as it did not make sense for us (and more importantly would have stalled the deal). I first got the buy in from the buyer as they really needed the solution and then reached out to the controller for help. She acknowledged that some of these policies are made for large vendors like Cisco/IBM and was happy to reduce the insurance amount as an exception.

6 hours ago   ·  1
Mudit Singh Rawat

Michael BrownDanish Yusuf was a huge help for us in getting cyber insurance set up.

6 hours ago   ·  4

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Michael Brown

Danish YusufHi Yves. We've had a bunch of clients that managed to negotiate down their insurance requirements with large vendors. Let's chat tomorrow and I can help you along.

5 hours ago   ·  1
Danish Yusuf

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Chart of the day: This is from a talk I'm giving this evening. Here are the most active VCs in Canadian software deals last year ... See MoreSee Less

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Saeideh Fard, Rob Henderson and 23 others like this

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Michelle McBanehi Mark - we invested in 9 software deals in calendar 2016 - not sure why IAF isn't on the list - if it's from CB insights they missed several deals

13 hours ago
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Matt RobertsWe closed three deals in Calendar 2016 which would tie us up with a few guys here. CB insights, Crunchbase etc are useless for Canadian deal oversight.

13 hours ago   ·  4
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Rena WangQuick, someone build a Crunchbase for Canadians. 💰💰💰

12 hours ago   ·  1

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Stefan Paul PaliosDoesn't 500 CAN publicize their deals? I feel like I've heard of at least 3-5?

12 hours ago

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Douglas SoltysHere's data from CB / PwC, which partnered for MoneyTree report with Canadian data: betakit.com/pwc-moneytree-report-canada-held-firm-in-2016-amidst-down-vc-activity-around-the-globe/

12 hours ago

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Jodi EchakowitzI'm curious as to why the focus specifically on "Canadian Software" deals? (Also, how do you classify software?) I don't think this chart on its own looks right and/or tells the whole story (unless you have another chart that looks overall at Canadian investments by firm, and perhaps another that looks at overall investments...)

12 hours ago   ·  1

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Vincent JohnThis is an embarrassingly low volume of deals for the most active VCs in Canada imo. Not sure if this is accurate though...does it include seed deals?

11 hours ago   ·  1

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Sylvain CarleThe RV number is wrong. Unless you are posting false info into trolling us to reveal non public data... But even the public number is much bigger.

10 hours ago   ·  4

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Bryan KerdmanJust wow. Has no-one yet figured out how useless all these numbers are? If you narrow your focus enough you can be number one at anything.

10 hours ago   ·  2
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Charles BrunSylvain Carle, happy to hear that - it made me a bit sad when I saw that the RV number was so low!

10 hours ago
Charles Brun

Bryan KerdmanSuggest you kill this slide. Terribly inaccurate. FAKE NEWS!

10 hours ago
Bryan Kerdman

Sylvain CarleIt's around 5x that number, not even counting the FounderFuel deals.

10 hours ago   ·  8
Sylvain Carle

Sylvain CarleCVCA numbers are better usually.

10 hours ago
Sylvain Carle

Ameet ShahMark - given that you (presumably) know all of the funds in Canada quite well, perhaps an opt-in email asking for info would allow Sure Path to collect better data on the ecosystem? Also, I'm not sure about the full context of the slides, but "most active" is a misleading number. That's the equivalent of page views or app installs in VC land. Perhaps $ deployed as a percentage of fund size would be more meaningful? Some funds are very concentrated in their capital deployment, while others appeal to a wider gamut. A fund that deploys $100K across 10 companies would "out perform" by this measure. ... or maybe it's just VCs who care about this data 😜

6 hours ago   ·  5

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Ameet Shah

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Anyone know a designer who can help us create some icons to dress up our website features section? ... See MoreSee Less

Jodi Showers likes this

Chris StevensonWe (www.ripplecreatives.com) can help with this, Melissa. Holla me!

19 hours ago   ·  1
Chris Stevenson

Sharon SehdevEvelyn Csiszar

16 hours ago
Sharon Sehdev

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I'm guest curating an upcoming edition of Mattermark's Raise the Bar newsletter, and would love to showcase some great thinking from the Canadian startup community - if you have written or read something really good on sales, marketing or growth, please post here or send me a note at [email protected] Thanks! ... See MoreSee Less

John Kyeremeh, Zaigham Zulqernain and 4 others like this

Alex SirotaHow about a thought piece on the future of business intelligence? chiefmartec.com/2017/03/hackies-case-cloud-enabled-business-advisor/

21 hours ago

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Alex Sirota

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Need advice: what are the best tools (SaaS or otherwise) for growing startups to give their teams to help with HR, performance management, incentives, getting a pulse on team culture and mood, etc? Basically I am wondering if people have suggestions on great tools out there that make teams perform and work better / happier. ... See MoreSee Less

Mike McCauley, Marc Shewchun and 10 others like this

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Jevon MacDonald... and why can't you buy them all in one package that is integrated? Segment for biz ops would be nice.

2 days ago   ·  7

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Trevor Staffordwww.tembostatus.com/ turns pulse surveys into to-do lists

2 days ago   ·  1
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Jennifer BouyoukosIf you need a core HR database for tracking you can look at BambooHR. Otherwise, try WorkTango (Toronto Startup) or Reflective for managing teams and culture. You won't find a single stop solution that manages compensation or incentives in the start-up space (at least I haven't found one). Some have recognition built in but then you need to manage the payments outside the system.

2 days ago   ·  5
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Rohan Nairlatticehq.com/

2 days ago   ·  1
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Anthony ReinhartJim Moss and Jennifer Moss at Plasticity Labs can help you.

2 days ago   ·  2

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Karel VuongAli, Collage! It's free, it's beautiful, and it incorporates a number of those things you mentioned (and more!). Check them out at: collage.co (Disclosure: am an investor in them)

2 days ago   ·  7
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Marijke Waddell+ 1 on Collage (and I am not an investor in them, just a big fan of their platform and savings it offers!!).

2 days ago   ·  2
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Mark MacLeod+1 for Tembo. Also check out 15five for 1 on 1s, etc

2 days ago   ·  2
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Brydon Gillissisn't Tom Williams working on this with Better Co?

2 days ago   ·  2
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Tom WilliamsThanks Brydon, our solution is a mix of talent acquisition and engagement solution that is more used by mid to large companies but some startups love it too: www.google.com/amp/s/www.forbes.com/sites/kathleenchaykowski/2017/03/14/this-new-app-lets-job-see... Happy to set you up with a free trial if you'd like.

2 days ago   ·  2

4 Replies

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Keltie NevilleI'm a fan of bamboohr and culture amp

2 days ago   ·  2
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Daniel Debow

2 days ago   ·  2

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Daniel DebowGive me a DM, i have some ideas.

2 days ago   ·  1
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Jonathan KreindlerAli, our solution, PeopleAnalytics.ai, does exactly this - real-time insight into team and organizational psychology that enables you to measure mood, engagement, disgruntlement, stress, quality of relationships and team dynamics. No surveys or active participation required. We’re in pilots with a number of large FIs. DM me if you want to discuss.

2 days ago   ·  5

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Khat TorangeauI second bamboohr and cultureamp.

2 days ago   ·  1
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Lianne Mariedepends if you're looking for an HRIS system or a a culture engagement took. You should look at WorkTango

2 days ago   ·  1
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Bohdan ZabawskyjFortay.co for scaling culture and employee engagement

2 days ago   ·  3
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Danielle LovellBeen liking Humi.ca for early stage HRIS needs, then BambooHR if you need multiple countries

2 days ago   ·  6

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Scott SpencerCheck out GoodTalk! You can find it at goodtalk.soapboxhq.com - pretty great Slack Bot for running effective 1-on-1s (and Team Meetings, coming soon!)

2 days ago   ·  2
Scott Spencer

Zaheer Merali+1 on Collage (I'm a customer) and 15Five (customer too). Have evaluated many in the past and picked these for their elegant simplicity and effectiveness

1 day ago   ·  2
Zaheer Merali

Latif NanjiAli Asaria officevibe.com

1 day ago
Latif Nanji

Eugene WooWe use KnowYourCompany (Basecamp spin off) and it's great for companies 20-50 in size.

17 hours ago
Eugene Woo

Jim MossPersonal habit building, surveys and insights and community / culture development on plasticitylabs.com and @Ali You can test drive it in our free public version here plasticitylabs.com.com/signup

10 hours ago
Jim Moss

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There are 20 public companies in the S&P/TSX IT index. According to their websites, the following seven have zero women on their boards: Constellation Software, Enghouse, Mitel, Avigilon, Absolute Software, Evertz, and Computer Modelling. Another six have one woman on their boards (Kinaxis, Sierra Wireless, Sandvine, Wi-Lan, Halogen and Redknee). Four have two women (BlackBerry, Solium, Celestica, Descartes) and three (CGI, Open Text, DH) have three women. None of the companies has more than 33% female representation on their boards. I counted 23 board seats occupied by women out of the 162 total between the 20 companies, which amounts to 14% female representation. That's just the top 20 Canadian public tech companies (for some reason Shopify, with one female board member, isn't part of the index) and doesn't include top venture-backed private companies. Just going to leave these statistics here, in case anyone wants to discuss. ... See MoreSee Less

Nima Halfmoon Gardideh, Ella Sibio and 23 others like this

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Ben BaldwinSukhinder, help us with next steps?

3 weeks ago   ·  3
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Jodi EchakowitzI know that I've connected with folks like Joanne Fedeyko who are trying to change the ratio through initiatives such as theboardlist.com (per Ben's reference to Sukhinder). Of course, it all takes time, but perhaps it's moving the dial (to quote Jodi Kovitz) in the right direction. Part of the challenge is that to be considered for a director role on a board (in theBoardlist's case), you need to be the CEO or Founder of a company with at least $5MM in revenue - OR - C-Suite or VP+ at a company with at least $25MM in revenue - OR - Director at a company with at least $500MM in revenue. So many of the women we all think might make fantastic directors don't qualify because of these minimum requirements.

3 weeks ago   ·  7

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Ian KoMan that's disappointing 😕

3 weeks ago
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Julia KassamJust read the Betakit post this past Friday that also discussed diversity. So thanks Sean Silcoff for bringing these stats up from a public company perspective. It's been over a year since securities regulators introduced the comply or explain rule which orders public companies to track and disclose women in senior positions, including board seats. Although the numbers have yet to shift dramatically ( and in my opinion will take much more than a policy) it has forced the discussion since public companies have to explain their reasoning for lack of representation and what their plans are to address the situation. Here is an article that may be of interest that discusses stats in Canada and what other countries are doing to address the topic: www.google.ca/amp/s/www.thestar.com/amp/business/2016/09/28/virtually-no-change-in-getting-woman-....

3 weeks ago   ·  1
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Sonya MeloffI'm a woman. Sign me up. www.linkedin.com/in/sonyameloff/

3 weeks ago   ·  4

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Martin KrátkýWhat percentage of the founders of those companies were female? Founders generally occupy at least 1-2 of the board seats, so if there's a bias there, that would explain part of the discrepancy

3 weeks ago   ·  2
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Caroline CarterThank you for researching and posting, Sean!

3 weeks ago   ·  1
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Kelly BergeronThank you for bringing this to light! Everyone probably already knows that more women on your board=higher revenues. I don't live in a major city but happy to sit on a board remotely. www.linkedin.com/in/kellykbergeron/

3 weeks ago
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Daneal CharneyYes boardlist and women getonboard are two great ways to solve this problem. Also profiling more women in the media via expertwomen (this is hosted by expertfile) #MoveTheDial

3 weeks ago   ·  4
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Alex SirotaI bet the boards of the largest not for profits around the world reverse the male/female ratio. I'd love to see the stats on that. The important work is being done outside the fortune 500.

3 weeks ago   ·  2
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Stephen LakeFrom the perspective of a private tech company / startup - here's the current challenge: the vast majority of your board members will be your VC investors and the founders. Both VCs and founders of venture-funded companies are skewed highly male right now. For independent board members you have more flexibility, however the first pool that founders look at are often their angel investors, and CEOs/former CEOs of other companies - again two pools that skew highly male right now. Basically - these are all linked. If we can address increasing the percentage of female partners at VC firms, female angel investors in tech companies, and female founders - we also help address the board challenges, at least for private tech co's.

3 weeks ago   ·  17

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Randall HowardSean, kudos for highlighting this, a problem that needs to be dealt with systemically. One might spend too much time arguing which comes first in startup diversity (like chicken or egg): women as Board members or founders, My own experience suggests the issue needs publicity coupled with massive conscious effort over a period of time to rectify. Case in point, I'm on the Board of a larger company which had its first woman on the Board almost 20 years ago--that event itself being major sea change. Recently, I chaired the Board nominations committee which was part of getting the company to today's situation, in which women are now over 40% of the Board. Because there are fewer senior women candidates in the recruiting pool, it takes great work and care to find top women Board members. Without such extra effort, by default male Board members would be the outcome. That's not an excuse to defer, but rather a call to action to put extra focus onto getting top women candidates (who are indeed out there). For startups, the lesson from this is that people need to lead by example and all parts of the tech startup ecosystem need to respond to the challenge: from developers to founders, not to mention Angels and VC investors. As a leader in the Angel ecosystem, I know that despite significant efforts to address the gender imbalance, more work needs to be done here as well. It is an ongoing focus.

3 weeks ago   ·  3

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Huda IdreesLove this Sean! I've been looking at % of female founder companies in investor portfolios as we choose who to bring on. The numbers are not good. It's especially bad in Canada. To Stephen's point, if the founders aren't female, that's automatically a ding for female representation on the board. And if we're not funding them, well... we know where the problem is.

3 weeks ago   ·  6
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Saadia MuzaffarRelevant to everyone's interests on Sean's important post (disclaimer: I'm quoted): beta.theglobeandmail.com/technology/the-innovation-gap-techs-big-diversity-problem/article3423850...

3 weeks ago   ·  3

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Jacoline B. LoewenShopify is the younger generation so perhaps that impacts their choices.

3 weeks ago
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Lylan MastermanWhile there are many ways for women to become board members, one of my favourites (of course) is by founding a company. Here is an article I wrote "For Women in Tech, Bias Runs Deeper Than Most Think" entrepreneur.com/article/283434

3 weeks ago   ·  2
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Jim MossGross

3 weeks ago
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Alex SirotaMary Barra, first female CEO of an major automobile maker, weighs in. www.linkedin.com/pulse/five-things-next-generation-female-executives-need-know-mary-barra

3 weeks ago   ·  1
Alex Sirota

Naomi Elana ZenerThere are lots of women on philanthropic boards in unpaid positions, but not on corporate ones. Thriving philanthropic organizations, I might add. Time for corporate boards to revisit their thinking in reconstituting their boards with women. #SmashTheGlass

3 weeks ago   ·  4
Naomi Elana Zener

Julia KassamLegal update on Initiatives to Accelerate Gender Diversity on Boards and in Senior Management www.wildlaw.ca/resource-centre/legal-updates/2017/initiatives-to-accelerate-gender-diversity-on-b...

13 hours ago   ·  1
Julia Kassam

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