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.

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