The Impact Centre in Toronto publishes an annual Narwhals’ list of 40 great Canadian tech companies that have the potential to become successful on the world stage.
They look at the fundraising patterns of over 1,000 private VC-funded Canadian technology product businesses in order to produce their final list.
The companies on the list are weighted by their financial velocity. Financial velocity measures the speed at which a company acquires and consumes capital to fuel its growth. It is defined simply as the amount of capital a company has raised divided by the number of years it has been in existence.
40 Fasting-Growing Startups In Canada:
The vast majority of these companies are in the Greater Toronto Area (29), Montreal (8) and Vancouver (6).
Here’s the full Narwhal list below with links to the careers page for the companies on the list:
| RANK | COMPANY | FOUNDED | TOTAL FUNDING ($US MILLIONS) | FINANCIAL VELOCITY | SECTOR | CITY |
|---|---|---|---|---|---|---|
| 1 | Element AI | 2016 | 105.7 | 35.2 | Artificial Intelligence | Montreal |
| 2 | Hootsuite | 2008 | 279.9 | 25.4 | Internet | Vancouver |
| 3 | Ritual | 2014 | 113.5 | 22.7 | Mobile | Toronto |
| 4 | Wealthsimple | 2014 | 113.0 | 22.6 | Internet | Toronto |
| 5 | Kik | 2009 | 220.5 | 22.1 | Mobile | KW |
| 6 | North | 2012 | 152.7 | 21.8 | Consumer Product | KW |
| 7 | Lightspeed POS | 2005 | 292.0 | 20.9 | Mobile | Montreal |
| 8 | Blockstream | 2014 | 101.0 | 20.2 | Blockchain | Victoria |
| 9 | Integrate.ai | 2017 | 38.2 | 19.1 | Artificial Intelligence | Toronto |
| 10 | Hopper | 2007 | 199.2 | 16.6 | Mobile | Montreal |
| 11 | Breather | 2012 | 113.7 | 16.2 | Mobile | Montreal |
| 12 | League Inc. | 2014 | 76.2 | 15.2 | Internet | Toronto |
| 13 | CryptoKitties | 2017 | 27.0 | 13.5 | Blockchain | Vancouver |
| 14 | Kira Systems | 2015 | 50.0 | 12.5 | Internet | Toronto |
| 15 | Coveo | 2005 | 169.8 | 12.1 | Internet | Quebec |
| 16 | LeddarTech | 2007 | 140.7 | 11.7 | Electronics | Quebec |
| 17 | The Aion Network | 2017 | 22.0 | 11.0 | Blockchain | Toronto |
| 18 | ecobee | 2007 | 131.3 | 10.9 | Consumer Product | Toronto |
| 19 | Assent Compliance | 2005 | 151.6 | 10.8 | Internet | Ottawa |
| 20 | D-Wave Systems | 1999 | 209.4 | 10.5 | Computer Hardware | Vancouver |
| 21 | Visier | 2010 | 91.5 | 10.2 | Internet | Vancouver |
| 22 | TouchBistro | 2010 | 90.0 | 10.0 | Mobile | Toronto |
| 23 | Ranovus | 2012 | 68.5 | 9.8 | Computer Hardware | Ottawa |
| 24 | Happiify | 2018 | 9.1 | 9.1 | Artificial Intelligence | Toronto |
| 25 | Wattpad | 2006 | 117.8 | 9.1 | Internet | Toronto |
| 26 | Tulip Retail | 2013 | 51.2 | 8.5 | Mobile | Toronto |
| 27 | Hubba | 2012 | 58.7 | 8.4 | Internet | Toronto |
| 28 | D2L | 1999 | 165.0 | 8.3 | Internet | KW |
| 29 | Wave | 2009 | 82.4 | 8.2 | Internet | Toronto |
| 30 | eSentire | 2001 | 140.9 | 7.8 | Computer Hardware | KW |
| 31 | Vidyard | 2011 | 60.7 | 7.6 | Internet | KW |
| 32 | Rubikloud | 2013 | 45.3 | 7.5 | Internet | Toronto |
| 33 | Farmer’s Edge Laboratories | 2005 | 103.6 | 7.4 | Software | Winnipeg |
| 34 | Nuco | 2016 | 21.6 | 7.2 | Internet | Toronto |
| 35 | Bench | 2012 | 49.1 | 7.0 | Internet | Vancouver |
| 36 | Drop | 2015 | 27.3 | 6.8 | Mobile | Toronto |
| 37 | Analytics 4 Life | 2012 | 47.5 | 6.8 | Software | Toronto |
| 38 | MOJIO | 2012 | 47.4 | 6.8 | Mobile | Vancouver |
| 39 | SecureKey Technologies | 2008 | 73.5 | 6.7 | Internet | Toronto |
| 40 | Platterz | 2016 | 20.0 | 6.7 | Internet | Toronto |
Know of any other Canadian tech companies that are actively recruiting lots of fresh talent? Let everyone know in the comments.
