Starting a business in Canada can be a challenging but rewarding experience. A number of startups in Canada have achieved success by identifying a unique market opportunity and developing a product or service to meet that need.
These startups come from a wide range of industries and sectors, including technology, healthcare, and retail. Many of these startups have received funding from investors and have grown to become established players in their respective industries.
Starting a business in Canada requires careful planning and consideration, including conducting market research, developing a comprehensive business plan, choosing a legal structure, and registering with the appropriate government agencies. With dedication and hard work, it is possible for aspiring entrepreneurs to join the ranks of successful startups in Canada.
1. Wave: #1 Startup in canada
Wave is established for small or micro businesses running around the world. The company provides customized financial services (payments, payroll), as well as award-winning free software.
Details of the startup:
Location: Toronto, Canada
Year Founded: 2009
Founders: James Lochrie, Kirk Simpson
Industrial niche: Accounting, Apps, Cloud Computing, Financial Services, FinTech, Human Resources, Mobile, Payments, Small and Medium Businesses, Software
Number of employees: 101-250
With excellent market performance, the company undergoes 11 funding rounds. During these funding rounds the company managed to appeal to 16 investors that engaged with the company and helped the company to raise a fund of $79,751,425.
2. Coinsqaure
As you all know about crypto and several companies the market is running, but Coinsurare is a startup in Canada. Coinsquare is a cryptocurrency exchange. Coinsquare helps you to buy and sell Bitcoin, Ethereum, XRP, and other digital currencies.
Details of the startup:
Location: Toronto, Canada
Year Founded: 2014
Founders: Virgile Rostand
Industrial niche: Bitcoin, Blockchain, Cryptocurrency, Financial Services, Trading Platform
Number of employees: 51-100
The company is dealing at a higher level with unstoppable performance. A separate seven rounds have been done for the fundraising of the company for the startup. Coinsquare attracted four investors to invest an impressive amount of $98,470,113.
coinsquare. com
3. Ada
Ada is the AI-powered customer service. It helps you to solve your inquiries of different niches and different languages with the least amount of human effort.
Year Founded: 2016
Location: Toronto, Canada
Founders: mike and David
Industrial niche: Artificial Intelligence, Intelligent Systems, Machine Learning, SaaS, Software
Number of employees: 101-250
Since Ada was founded, the company achieved great success in the field. A total of 7 rounds of funding has been done successfully with 16 investors putting their money behind the company. Ada has managed to raise a fund of $190,620,619.
ada. cx
4. Financeit
Almost every business found difficulty in the process of sales and finance, to deal with such problems Financeit was established in 2007. Financeit helps businesses and their consumers to solve their troubles in sales processes.
Details of the startup:
Location: Toronto, Canada
Year Founded: 2007
Founders: Casper Wong, Michael Garrity, Paul Sehr
Industrial niche: Consumer Lending, Finance, Financial Services, FinTech, Mobile, Payments
Number of employees: 251-500
Since 2007, Financeit has been serving the best finance-related services in the country and pitched 10 investors who showed their interest in the company. In 9 funding rounds, a total of $61,399,251 has been collected.
5. Wombo
Wombo is a fake lip-sync software powered by AI that generates copies of pictures lip-syncing to a variety of tunes. the app shows the magic, you have to select a photo and then the picture automatically converts into a video where your lips are syncing with the particular song you selected. The main purpose of the app is Entertainment.
Details of the startup:
Location: Toronto, Canada
Year Founded: 2020
Founders are: Paul Pavel, Angad Arneja, Ben Zion Benkhin, Akshat Jagga, Parshant Loungani, Paul Pavel
Industrial niche: Artificial Intelligence, Digital Entertainment, Machine Learning, Mobile, Social Media, Software
Number of employees: 11-50
The company recently entered the market but is showing unbelievable growth and still, manages to get 7 investors within one funding round. The amount of $6,000,000 has been raised in startup funding.
6. Wealthsimple
Wealthsimple is used as a financial tool, and a huge number of Investors to grow and manage their money.
Details of the startup:
Location: Toronto, Canada
Year Founded: 2014
Founders: Brett Huneycutt, Michael Katchen, Rudy Adler
Industrial niche: Finance, Financial Services, FinTech, Impact Investing, Personal Finance
Number of employees: 251-500
Wealthsmiple is providing you with their services in the best possible way. Within a few years the company managed to raise a good funding amount from the maximum number of investors. During nine founding rounds, a huge number of 17 fundraising investors were willing to spend a total of $1,130,900,000 CA.
7. League
The main objective of the League is to deal with health issues. League is a digital health platform that connects an individual to a vast network of health-related services and benefits.
Details of the startup:
Location: Toronto, Canada
Year Founded: 2014
Founders: Michael Serbinis
Industrial niche: Health Care, Information Services, Wellness
Number of employees: 51-100
Funding amount: $76,139,506
Since League was founded, the company has been a massive support in health-related troubles. Investments from seventeen different sources have been made only in four funding rounds. The League had successfully raised $76,139,506.
8. Apply board
Education comes first in the mind of every parent or individual who wants to achieve something in life. ApplyBoard is an online study portal and the main aim of the company is to spread education around the world.
Details of the startup:
Location: Waterloo, Canada
Year Founded: 2015
Founders: Martin Basiri, Massi Basiri, Meti Basiri
Industrial niche: Artificial Intelligence, EdTech, Education, Internet, Software
Number of employees: 1001-5000
Funding amount: $483,480,000
ApplyBoard is securing funding and growth in the industry. Till now only seven rounds of funding have been done and twenty investors putting their money into the company to raise funds. An unpredictable fund of $483,480,000 has been successfully raised.
9. 1Password
1Password is a company that secures your passwords. Many companies use this to exchange passwords, credit cards, PAN cards and other documents in sam \e manner. Details of the startup:
Location: Toronto, Canada
Year Founded: 2005
Founders: Dave Teare, Roustem Karimov
Industrial niche: Computer, Cyber Security, Enterprise Software, Identity Management, Mobile Devices, Network Security, Privacy, Security, Software, Web Development
Number of employees: 101-250
Funding amount: $200,000,000
Number of funding rounds: 1
Number of investors: 8
Since 1Passwords is not able to undergo another funding round after one round but managed to raise a fund of $200,000,000 from the investors. Attracting eight investors in one round is still very difficult for companies to attract after four rounds.
1password. com
10. Railz
Railz is a single API that connects with the majority of the medium-small company and provides them quick access to analyze and neutralize financial data. It is an accounting software supplier.
Details of the startup:
Location: Toronto, Canada
Year Founded: 2020
Founders: Derek Manuge, Ron Benegbi, Sohaib Zahid
Industrial niche: Financial Services, Software
Number of employees: 11-50
Funding amount: $15,100,000
Since Railz was founded recently, the company has already undergone two funding rounds within 2 years. Successfully eight investors helped with funding and around $15,100,000 was raised during the startup funding.
railz.ai
11. Level Access
Level Access provides technology-accessibility compliance solutions. Since the eSSENTIAL Accessibility and Level Access merger, it became a single website i.e. Level Access. It is a company that supplies organizations with web accessibility compliance solutions.
Details of the startup:
City: Toronto, Canada
Year Founded: 2008
Founders: Mark Steele, Simon Dermer, Spiro Papathanasakis
Industrial niche: Software
Number of employees: 11-50
The company is already doing well in its industry niche. Essential Accessibility went through two funding rounds in which they generated funds of $86,400,000 CA. And surprisingly only two investors found this company worth their investment.
Levelaccess. com
12. Q4
Q4 is a SaaS (Software as a Service) platform that helps public companies engage with their investors. Q4 is a leading capital markets communications platform, transforming the way capital market participants discover, communicate & engage with each other.
Details of the startup:
Location: Toronto, Canada
Year Founded: 2006
Founders: Darrell Heaps
Industrial niche: Business Intelligence, CRM, SaaS, Stock Exchanges
Number of employees: 251-500
The Q4 serves you several services. The company is already doing well in terms of fundraising. Eight rounds of funding have been done successfully and a fund of the total amount of $91,322,515 has been generated by 13 investors.
q4inc. com
13. Sensiblill
Sensibill is a digital receipts ecosystem that allows users to immediately get receipts from their bank accounts. Now Sensibill is acquired by Q2.
Details of the startup:
Location: Toronto, Canada
Year Founded: 2013
Founders: Corey Gross, Jamie Alexander
Industrial niche: Banking, Big Data, Financial Services, FinTech, Retail
Number of employees: 51-100
The company has gone through six rounds of funding and attracted 18 investors to put their money into Sensibill. A fund of $57,401,610 is generated during the funding rounds.
getsensibill.com
14. North
North has been acquired by Google. North is a company that allows humans to work together with technology. It creates human-centric technology. The company has been performing mind-blowing in the market.
Details of the startup:
Location: Kitchener, Canada
Year Founded: 2012
Founders: Aaron Grant, Matthew Bailey, Stephen Lake
Industrial niche: Consumer Electronics, Consumer Goods, Eyewear, Google Glass, Robotics, Wearables
Number of employees: 251-500
North is an example of a Canadian startup that performs great in securing funding. The business is running so well and investors are willing to invest in it. Around 24 investors have already invested in the company and many more are still waiting for the next funding round. Till now, 12 funding rounds have been held and led to an unpredictable amount of $199,632,519 for startup funds.
bynorth. com
15. Assent Compliance
Assent is Supply Chain Data Management. The main aim of the company is to supply the chain deeply and durably goods.
Details of the startup:
City: Ottawa, Canada
Year Founded: 2010
Founders: Matt Whitteker, Robert Imbeault
Industrial niche: Customer Service, Environmental Consulting, Information Technology, SaaS, Software, Supply Chain Management
Number of employees: 101-250
The business underwent four successful funding rounds and raised a fund of $183,629,304 for the company. The fund has been collected from eight different sources.
16. Lane
Lane is a part of VTS now. It is a platform for workplace management and provides you services to grow your business.
Details of the startup:
City: Toronto, Canada
Year Founded: 2014
Founders: Clinton Robinson, Kofi Gyekye
Industrial niche: Commercial Real Estate, Communities, Enterprise Software, Property Management, SaaS
Number of employees: 11-50
The company holds a splendid place in the industry. In five funding rounds, the company managed to attract five investors to put their money into the business. The total amount of $31,870,000 has been generated from startup funding.
17. Resolver
Resolver is used by businesses as well as individuals to calculate the risk of bad events. Resolver analyzes the risk data and tells you about the possibility of happening it. It is usually used for reducing the frequency of something bad happening.
Details of the startup:
City: Toronto, Canada
Year Founded: 2000
Founders: Steve Taylor
Industrial niche: Cloud Computing, Compliance, Enterprise Software, Physical Security, Risk Management, Security, Software
Number of employees: 251-500
The company was struggling at the start with fundraising, but now that company got an investor who invested in the company to grow and develop more. The business has gone through two rounds and managed to raise funds of $36,195,053.
resolver.com
18. Tealbook
Tealbook is a business software startup that provides accurate data to consumers and producers. This is a data supplier software where the data is supplied to the people so that they can grow and develop and choose wisely.
Details of the startup:
City: Toronto, Canada
Year Founded: 2014
Founder: Jason Busch
Industrial niche: Procurement, SaaS, Supply Chain Management
Number of employees: 11-50
The business is doing well in raising startup funds. With a number of 21 investors which is not easy to get, the Tealbook managed to go through six rounds and successfully generate the amount of $23,102,172 for funds.
19. Clutch Canada
Finding the best car for you is very complex. So, Clutch is a fully online platform that provides you with deals on autos that are high-quality certified. All kinds of autos are available here at great pricing. Customizations option is available at Clutch and you can buy cars on loan and the car will be delivered to your doorsteps.
Details of the startup:
City: Toronto, Canada
Year Founded: 2016
Founders: Stephen Seibel
Industrial niche: Automotive, E-Commerce
Number of employees: 51-100
Since Clutch Canada was founded, the company got seven investors who invested in the company for the growth and development of business. A total of 3 funding rounds were held which led the company to raise funds of $23,512,966.
clutch.ca
20. Top Hat
Just like the name of the company “Top Hat’’, the company ranks top among the startups. Students participate via their devices to attend the lectures for what they applied for.
Details of the startup:
City: Toronto, Canada
Year Founded: 2009
Founders: Mike Silagadze, Mohsen Shahini
Industrial niche: EdTech, Education, Mobile, Software
Number of employees: 251-500
Top Hat is also top in raising startup funding. Among several companies, only a few companies are able to reach more than 6 funding rounds, but Top Hat reached eight funding rounds and got the eye of 14 investors who invested. A huge amount of $234,400,000 has been generated during these rounds.
21. Fullscript
Fullscript is an online platform that deals with health-related problems and questions. It allows you to be relaxed and free from going out when you are not even able to move. They help you to build good habits for your wellness.
Details of the startup:
City: Ottawa, Canada
Year Founded: 2011
Founders: Brad Dyment, Chris Wise, Kyle Braatz
Industrial niche: E-Commerce, Health Care, Internet, Medical, Personal Health, SaaS, Wellness
Number of employees: 251-500
Funding amount: $27,000,000
Since Fullscript was founded, it has undergone two startup funding rounds and smartly won hearts of two investors who invested in the company. From these two investors the company managed to raise a fund of $27,000,000.
22. Rituals
Ritual is a food ordering software. The main object of the Ritual is to help restaurants to grow more. Now ritual gives an amazing workplace experience. It allows quick and easy pick-up and payment at local restaurants and coffee shops.
Details of the startup:
City: Toronto, Canada
Year Founded: 2014
Founders: Larry Stinson, Ray Reddy, Robert Kim
Industrial niche: Apps, Coffee, Food and Beverage, Mobile
Number of employees: 251-500
Funding amount: $134,800,455
It is very difficult to attract investors when the company provides services related to food. The Rituals achieved great success and growth in the industry and managed to undergo four funding rounds and raise a fund of $134,800,455. During these funding rounds, Rituals raise funds from 13 different sources.
ritual.co
Above mentioned startups in Canada have been competing in the market for the past few years. Across the world the Richest cities of the US are still on the top but Canada being the subsequent county didn’t left any chance to prove itself.
