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Canada-based Wave Accounting Raises CDN $5 Million In Series A Financing

Wave Accounting has raised CDN $5 million in series A financing, led by Charles River Ventures (CRV), with the participation of OMERS Ventures. Wave’s immediate plans include ongoing application development, as well as the launch of a complementary payroll application later this year.

Based in Toronto, Canada, WaveAccounting.com currently tracks almost $2.5 billion of small business income and spending for nearly 75,000 customers in 18 countries around the world. Wave focuses on small businesses with nine employees or less. It was launched around 11 months ago.

Wave is free for its customers, and generates revenue by offering advertising and group buying opportunities. American Express, Dell and Grand & Toy are among Wave’s advertising partners to date.

 

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Snowflake to acquire TruEra AI observability platform

Snowflake has entered into a definitive agreement to acquire TruEra, providers of an AI observability platform. Financial terms of the transaction were not disclosed.

Biggest Windows 11 update in 2 years nearly finalized, enters Release Preview — Ars Technica

Microsoft has released Windows 11 24H2 build 26100.712 to its Release Preview testing channel for Windows Insiders, a sign that the update is nearly complete and that the company has shifted into bug-fixing mode ahead of general availability, writes Andrew Cunningham in Ars Technica. 

Elon Musk’s xAI is working on making Grok multimodal — The Verge

Elon Musk’s AI company, xAI, is making progress on adding multimodal inputs to its Grok chatbot, according to public developer documents, writes Kylie Robison in The Verge.