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Disrupting the Enterprise UC MarketVancouver-based COUNTERPATH has revolutionized the way people communicatewith over-the-top (OTT) unified communications (UC) solutions like X-Lite and Bria,becoming a top supplier to SMBs, enterprisesand service providers around the globe.This quarter marked a key milestone asCounterPath launched Bria X, a feature-rich,secure team messaging, presence and screensharing service which can overlay any hostedor premise-based call server a company mayhave. With apps available for desktop, smartphone and tablet devices, and up to threedownloads per subscription, businessescan easily add mobile and BYOD options foremployees and provide them with the flexibility to be reached on the device of theirchoice, in the method that makes the mostsense. And with the Bria X Web Platform,IT administrators can set up, provision andmanage all subscriptions from one central,web-based dashboard.PARTNERSHIPS PREPPING CLINICONEX FOR NEXT LEVEL OF GROWTHBria X is designed for the millions of Bria andX-Lite customers who use CounterPath software every day for high quality voice andvideo calls, but may be searching for optionsto integrate team messaging and screensharing. By providing these hosted services,along with streamlined set-up and management tools, CounterPath adds significantlymore value to Bria and a better end-to-endexperience than what is typically availabletoday.Key Bria X capabilities include: Secure team messaging – send andreceive 1:1 and group messages on thedevice of your choice. Presence – see who from your team isonline, on the phone or away from theirdesk to reach contacts without delay. Unlimited desktop screen sharing –initiate a screen share with anyoneon any device without the need fordownloads or plug-ins. Cloud-based management tools andprovisioning portal to set up and manageusers, including SIP server settings Low monthly cost of 3 USD per userwhen purchased on an annual subscription basis.With the global emergence of BYOD, remoteworking and location-flexible teams, cloudbased unified communications is becomingthe foundation of effective communicationand collaboration over varied networks,call server platforms and devices. Bria Xis designed to remove technology barriers, enabling businesses to provision andempower their employees with superior unified communication services. Bria-X.com Compatible with any existing call serveror VoIP service – on premise or hosted.Expanding to Meet DemandVancouver-based ENCEPTA is a digital-firstservice provider to the telecommunicationsand infrastructure engineering industries. Thecompany uses proprietary software to conduct mapping and infrastructure assessmentprojects that serve as inputs for the design ofongoing expansions and upgrades to outside‘plant’ (poles, towers, wirelines, etc.).Encepta brings a ‘smart’ design process to atraditionally low-automation environment,emphasizing the use of digital photos, videosand mobile software instead of paper forms,drawings and binders. The new designs, andthe digital data that accompanies them,enable customers to increase efficiency, savetime, reduce cost and thereby improve thereturn on capital infrastructure investments.❮ 4This additional accountactivity allowed thecompany to more thandouble the size of the fieldteam over the Quarter.The company continued to build customertraction over the past Quarter, includingbeing awarded several exclusive new, provincial-scale contracts to collect and verifyTelecom outside-plant data. The USP (UniqueSelling Proposition) behind so many of thesewins is the fact that the proprietary software and operational methodology used bythe Encepta team offers more than a 25%improvement in the quality of data collected,when compared to the results of traditionalcontractors. This improvement yields anorder of magnitude improvement in capitalinvestment and operational decision makingby the downstream business units of clients.This additional account activity allowed thecompany to more than double the size ofthe field team over the Quarter. This growthis well timed as Encepta was already experiencing space limitations in one of its keyoperational locations. The company is nownegotiating a new lease agreement thatwill combine field operational and researchactivities in a new facility that will be 250%larger. The new facility will help enable fastertechnology development and increased customer services. encepta.net WESLEY CLOVER QUARTERLY UPDATE November 2016CLINICONEX, an Ottawa-based graduatefrom the L-SPARK Accelerator program, is aSaaS company that automates patient outreach for clinical providers. Software featuresinclude automated patient reminders, booking notifications, preventative care noticesand surveys. These tailored doctor/patientcommunications promote better healthoutcomes.During the Quarter, clients and revenuescontinued to rise for the company. At theend of October, more than 1,600 health careproviders were using the system, processing approximately 170,000 appointments amonth. The company ended October with anet revenue increase of more than 60% compared with January.Much of the current growth is starting tocome from important new EMR (ElectronicMedical Records) partnerships the companyis establishing. In September, a definitiveagreement was signed with TELUS Health,the dominant vendor in the Canadian market. The TELUS team launched the productpartnership at their western Canada userconference in late October. Cliniconex wasin attendance, and came away from theevent with several signed TELUS customerorders. Five days later, the first of those TELUScustomers went live with the system! Apromising partnership to be sure.The EMR market continues to consolidatein Canada. Loblaws, as an example, ownsand operates healthcare operations underthe Primacy Medical Clinic brand andthe Shoppers Drug Mart retail brand, andrecently acquired QHR, which is an existingCliniconex partner. Similarly, TELUS acquiredNightingale Health and the 4,000 doctorswho subscribe to that platform. In total,about 25,000 Canadian doctors use EMRsystems in the TELUS and QHR ecosystems,making such partnerships significant forCliniconex growth.That motive is the same behind customer andEMR partnership activity the company is pursuing in the U.S. For example, this Decemberwill see the first system pilot with a 550-bedhospital in Buffalo NY, and discussions areproceeding with another U.S. hospital for asimilar pilot to begin in January.On the U.S. EMR partnership front, withthe support of the local Canadian TradeCommission offices, the company recentlyintroduced Cliniconex to buyers, sellersand marketers in the Philadelphia andBoston healthcare ecosystems. Importantconclusions from that work include the factthat the post-visit patient education andpatient experience features of the Cliniconexsoftware will definitely resonate with anddifferentiate the product in the extensiveU.S. market. Despite uncertainty aroundthe healthcare policies of the incoming U.S.administration, the company is confidentchanges to provider reimbursement ruleswill make those software features even morerelevant.Looking to the next Quarter, capital from theseed financing round closed by the companyin the summer is being focused on preparingfor continued growth, in terms of customers,partnerships and revenues. The company isactively expanding the software development, testing and customer success teams.We will continue to watch the progress.cliniconex.com Cliniconex exhibits at their firstTELUS EMR event in Alberta, Canada.HYAS Named Top Start-Up at Venture ForumWestern-Canada-based HYAS won a coveted award this Quarter, taking home the tophonours as the Best Start-up in a competitivefield at the 2016 Banff Venture Forum. HYASoutdid a number of well-funded BioTechand FinTech companies, and won significantpraise from the panel of U.S. and Canadianventure capitalists for the ground-breakinginformation security offerings the companyprovides.“We are humbled to receive this honour,”said Chris Davis, Founder and CEO of HYAS.“We have been receiving positive industryfeedback on the upcoming release of Comox,our threat intelligence and attribution platform. To see the venture capital communityexpress strong interest in the HYAS technology and recognize the fast growing market ittargets is very encouraging.”In limited release with leading financial institutions, Fortune 500 companies, law enforcement agencies and security companies,Comox acts as a ‘force multiplier’ for companies who must work ever-harder to protectthemselves against information securitybreaches that can result in millions of dollarsWESLEY CLOVER QUARTERLY UPDATE November 2016in losses. For these companies,HYAS technology makes theirsecurity operation centers farmore effective, dramatically increasing theaccuracy of their investigative findings andallowing them to respond quickly to potential threats.Founded by a team of renowned securityresearchers, analysts and entrepreneurs,HYAS is developing the next generationof information security technology for theenterprise, SMB and consumer markets. hyas.com5 ❯

Bringing All-in-OneSaaS Value to theFranchise IndustryOttawa-based THE BETTER SOFTWARE COMPANY provides all-inone business management SaaS, named BPro, for small- and medium-sized businesses. BPro helps established and growing businessesbecome more organized and efficient, and helps improve their corebusiness processes.During the last Quarter, thecompany released BProPlatform, a version of thesoftware which has beenoptimized for franchise andmulti-location businesses.BPro Multi-location DashboardWith BPro Platform, owners/operators can monitor and manage key functions of the businessusing one easy-to-use application, on their office computer or mobilephone. The feature set is extensive, covering billing/invoicing, payroll,inventory management, analytics/reporting, even business-boostingfunctions such as email marketing, lead generation, and opportunitymanagement. As a modern, mobile, SaaS solution with disruptivepricing and advanced features, BPro Platform is expected to have alarge and positive impact in the franchise industry.Also during this Quarter, the company was selected to join the exclusive Lazaridis Institute and its Canadian Scale-Up Program whichis targetted at a cohort of the 10 Most Promising New TechnologyCompanies in Canada. The program was created to address threechallenges that often prevent Canadian companies from growing: access to capital, access to experience and access to markets.Featuring renowned international instructors and mentors, theScale-Up Program aims to enable the cohort to knock down barriersand accelerate their plans for global scalability.On the heels of this selection, The Better Software Company closedanother round of financing, increasing the total raised by the company over the last 12 months to nearly 5M. These funds will continueto fuel the company mission — to help small business clients growand become even more successful. thebettersoftwarecompany.comCONNECTING EVER MOREDEVICES WITH IVENMitel Posts Yet Another Solid QuarterIVEN is an IoT (Internet of Things) companybased in Istanbul. The company has created acloud-oriented platform and service capabilities for monitoring connected devices acrossmultiple markets and applications. IVEN offerssimple APIs and SDKs for incorporating allappropriate devices, quickly and easily, whichhelps clients:MITEL (Nasdaq:MITL) (TSX:MNW), a leader in real-time business,cloud and mobile communications, reported more strong GAAPresults at the end of this latest Quarter. The company had totalRevenues of 279.8M, net Income of 25.1M and EPS of 0.20.These last two figures were both reversals of losses in the sameQuarter of Fiscal 2015. Increase R&D efficiency by leveragingremote, real-time and historical productperformance data to influence development and support roadmaps.“In a highly competitive and rapidly changing landscape, Mitelcontinued to win new enterprise accounts in premise and cloudenvironments, and earned more global industry recognition,”said Richard McBee, Chief Executive Officer. “With a clear migration path for customers, a series of new product offerings now inmarket, and a strong pipeline, we are well-positioned moving intowhat is typically our strongest quarter of the year.” Reduce operating costs in areas such aspost-sales service, by centralizing equipment monitoring to optimize field activities. Develop new revenue opportunities withvalue-added services enabled through theIVEN platform.The following are also highlights from the Quarter: Recurring cloud seats grew by 43,000, up from 31,000 newseats last Quarter and raising total deployments to morethan 494,000. The company also won the Frost & SullivanCompetitive Strategy Innovation and Leadership Award forCloud Services in North America and Europe.During this Quarter, IVEN became the IoT platform partner for Vestel, one of the largest homeappliance makers in Europe. Vestel producesmore than 40M appliances every year, including a line of internet-connected refrigeratorswhich are now IVEN-enabled. The innovativesolution was showcased at one of the largestconsumer electronics and home applianceshows in the world, the IFA 2016 show in Berlin. In addition to securing new customer wins, Mitel Mobile alsoachieved solid year-over-year improvements in gross marginof 300 bps. The Enterprise Division secured a customer win for 60,000new users with a major German automobile manufacturer,and also introduced the 6900 Series set featuring a high-restouch screen, seamless smartphone/desk phone integration,Bluetooth synch and WiFi connectivity.IVEN also provides IoT solutions to WesleyClover portfolio companies, Encore Networksand Deriva Labs. Using the IVEN DeviceManagement Platform, these two companiesare able to improve field operations and exploreadditional revenue possibilities through newservices. According to Brad Pool, DirectorMarket Development at Encore Networks,“With the help of IVEN, we have expandedenCloud from a simple reporting interface toa true device management system capableof handling all aspects of device deployment,configuration and ongoing maintenance.enCloud is a platform that is competitive withthe leading device management products onthe market today.” iven.io Looking forward, as noted above, the company looks forward toanother strong quarter and has set analyst guidance accordingly.We will continue to watch. mitel.com “In a highly competitive and rapidly changinglandscape, Mitel continued to win newenterprise accounts in premise and cloudenvironments, and earned more globalindustry recognition.”— Richard McBee, Chief Executive Officer❮ 6WESLEY CLOVER QUARTERLY UPDATE November 2016WESLEY CLOVER QUARTERLY UPDATE November 20167 ❯

Martello RankedNumber 31 inGrowth byPROFIT MagazineMARTELLO TECHNOLOGIES,provider of service qualitymanage ment software for Mitelcommu nications networks, wasrecognized this Quarter byPROFIT MAGAZINE in theSTARTUP 50 Top New GrowthCanadian Companies list. The listis based on revenue growth overthe preceding two years, and the298% increase experienced byMartello over that period placedit at number 31 for the 2016 list.the introduction of much anticipated Martello analytics capabilities, and also enhances supportfor the Mitel MiVoice MX-ONEplatform. Martello softwarehas found traction in nine newcountries since support for theMX-ONE was added initially, asit helps Mitel service partnersand resellers manage customerchurn with tools that deliverproblem resolution BEFORE usersare impacted.Driving this growth, the partnership the company enjoys withMitel continues to flourish. Therelease of Mitel PerformanceAnalytics (MPA) 2.1 software atthe end of the Quarter marksThis coming Quarter, doors tothe company headquarters inOttawa will be open to investors and potential employeesfrom Waterloo, Montreal andToronto, Canada, as part of thefirst local ‘Startup Open House’.This is an opportunity to showcase innovative SaaS start-upssuch as Martello to key visitorsfrom other Canadian technologyclusters. martellotech.com MRR Continuesto Climbfor EchosecVictoria, B.C.-based ECHOSECis a location-based social mediasearch and analysis company.Users of the technology canaccess, in real-time, all publiclyposted, geo-tagged social mediamessages, images and videocontent within an area of theirchoosing on a map. As might beexpected, the capability for rapidaction/reaction to the incidentsor events that can be found in thiscontent is of particular interestto the Security, Investigation,Geographic Information System(GIS) and Law Enforcementcommunities.The latest Quarter was the mostsuccessful to date, setting anew high for monthly recurringrevenue (MRR). Key customerscame from the military intelligence, independent think tank,corporate security and policingsupport fields.A number of these new contactscame as a result of the companyexhibiting at the 63rd annualASIS Security Expo in Orlando,Florida during the Quarter. Thisinternational security conference and tradeshow draws topdecision makers from companies around the world each year.The response from attendeesto the Echosec technology wasvery positive, and the team hasseveral more connections it isactively exploring for prospectivenew customer and partnershiprelationships over the comingQuarter.We look forward to more goodresults echosec.netc A Quarter of Going Global, Partnering Locally for InitLiveINITLIVE, an event, staff andvolunteer management software company based in Ottawa,had an interesting Quarter tobe certain. Developments tookplace on multiple fronts for thebusiness.From a sales perspective, thefirst customer in Australia wasacquired during the Quarter.Australia is a country with astrong culture around volunteering, and as such, is an attractiveinternational market for the company. In a similar global-expansion vein, the first reseller in Indiawas also signed to an agreement.With its massive population, thenumber of festivals, concerts,sporting and other events available to be targeted by this Indianpartner borders on limitless, andInitLive looks forward to bringingaboard the first customers fromthat country before long.❮ 8On the product development front, the company activity. In this case, the company will use the funds to addcontinued to work on technology patentsApplicationProgrammingin the U.S. during the Quarter.Of note, last but certainly notleast on the sales side, whatcould be more Canadian thanthis? The company signed amulti-year deal this Quarter withThe Wickenheiser Festival. Nowin its sixth year, the WickenheiserFemale World Hockey Festivalattracts more than two thousand female hockey players ofall ages from around the worldto an annual three-day competition and celebration. An idealenvironment for Canadian-madeevent management software ifthere ever was one.On the product developmentfront, the company continued towork on technology patents inthe U.S. during the Quarter. Onepatent has now been granted,and three more are pending.These patents center on someof the key differentiators in thesoftware, around the event-daycommunications subsystem, forexample, and serve to protectvaluable intellectual propertyas well as provide yet anotherimportant corporate asset.The company also secured animportant technology development grant under the IndustrialResearch Assistance Program(IRAP) of the Canadian government and the National ResearchCouncil. The program providesfinancial support to qualifiedsmallandmedium-sizedenterprises in Canada to helpthem undertake innovativenew research and developmentInterfaces (APIs), white labelling/custom branding features andthe first integrations with thirdparty event management toolsto the InitLive software.This development will increasethe openness and broaden theappeal of the software considerably — to partners and customers alike. For example, one of thefirst integrations being considered could bring the Live Chatand VOIP technology from Miteldirectly into the InitLive application. This holds the potentialto open up a very large, globalbase of potential partners andcustomers for the company.We will be following this initiative with great interest. initlive.comWESLEY CLOVER QUARTERLY UPDATE November 2016Much More toCome fromNew Ad PlatformVictoria, B.C.-based PRETIOInteractive, a leader in creatingmore effective mobile advertising, achieved double-digitgrowth again this past Quarter.Revenues for the August throughOctober period outpaced theprevious Quarter by more than20%, due in large part to the ability of the sales teams to diversifyglobal audience partners andadvertisers. As important, inparallel with the influx of newpartners, the company was alsoable to improve gross marginsQuarter-over-Quarter by morethan 50%. in parallel with the influx of newpartners, the company was also ableto improve gross margins Quarterover-Quarter by more than 50%WESLEY CLOVER QUARTERLY UPDATE November 2016The progress made in deliveringthese results allowed the Pretioteam to invest more resources inthe development of a much-anticipated automated ad-buyingplatform, currently code-named“Apollo”. By leveraging the experience of the Pretio media buyingteam and the millions of dailydata points running through theclient platform, CTO Rob O’Dwyerand Machine Learning/DataScientist Craig Thomas are creating a more intelligent approachto performance marketing.“The idea behind Apollo is to beable not only to detect and target users who are great matchesfor the brands we are representing,” says Thomas, “but also tobe able to reach across virtuallyany traffic source — not just afew apps and publishers. Andbecause of the machine learningcapabilities we are embedding,we won’t simply turn on trafficsources, cross our fingers, andhope for the best. The platformitself will get better at optimizingconnections between brandsand customers, without needinghuman inpu

Bria X is designed for the millions of Bria and X-Lite customers who use CounterPath soft-ware every day for high quality voice and video calls, but may be searching for options to integrate team messaging and screen sharing. By providing these hosted services, along with streamlined set-up and manage-ment tools, CounterPath adds significantly