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:

RANKCOMPANYFOUNDEDTOTAL FUNDING ($US MILLIONS)FINANCIAL VELOCITYSECTORCITY
1Element AI2016105.735.2Artificial IntelligenceMontreal
2Hootsuite2008279.925.4InternetVancouver
3Ritual2014113.522.7MobileToronto
4Wealthsimple2014113.022.6InternetToronto
5Kik2009220.522.1MobileKW
6North2012152.721.8Consumer ProductKW
7Lightspeed POS2005292.020.9MobileMontreal
8Blockstream2014101.020.2BlockchainVictoria
9Integrate.ai201738.219.1Artificial IntelligenceToronto
10Hopper2007199.216.6MobileMontreal
11Breather2012113.716.2MobileMontreal
12League Inc.201476.215.2InternetToronto
13CryptoKitties201727.013.5BlockchainVancouver
14Kira Systems201550.012.5InternetToronto
15Coveo2005169.812.1InternetQuebec
16LeddarTech2007140.711.7ElectronicsQuebec
17The Aion Network201722.011.0BlockchainToronto
18ecobee2007131.310.9Consumer ProductToronto
19Assent Compliance2005151.610.8InternetOttawa
20D-Wave Systems1999209.410.5Computer HardwareVancouver
21Visier201091.510.2InternetVancouver
22TouchBistro201090.010.0MobileToronto
23Ranovus201268.59.8Computer HardwareOttawa
24Happiify20189.19.1Artificial IntelligenceToronto
25Wattpad2006117.89.1InternetToronto
26Tulip Retail201351.28.5MobileToronto
27Hubba201258.78.4InternetToronto
28D2L1999165.08.3InternetKW
29Wave200982.48.2InternetToronto
30eSentire2001140.97.8Computer HardwareKW
31Vidyard201160.77.6InternetKW
32Rubikloud201345.37.5InternetToronto
33Farmer’s Edge Laboratories2005103.67.4SoftwareWinnipeg
34Nuco201621.67.2InternetToronto
35Bench201249.17.0InternetVancouver
36Drop201527.36.8MobileToronto
37Analytics 4 Life201247.56.8SoftwareToronto
38MOJIO201247.46.8MobileVancouver
39SecureKey Technologies200873.56.7InternetToronto
40Platterz201620.06.7InternetToronto

Know of any other Canadian tech companies that are actively recruiting lots of fresh talent? Let everyone know in the comments.

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