With a diversified and technologically advanced economy, it is no surprise that Canada is home to many startups and tech companies. Thanks to a mature startup ecosystem, Canada has helped a number of its local startups to expand nationally and launch their development across the world.
The startups listed hereafter are involved in a number of industries and businesses, but with a large number of companies operating through software or cloud-based platform, there is a clear lead of tech startups. From e-commerce and FinTech, from network management to artificial intelligence, Canadian startups are engaged in the application of technology to new verticals, and the disruption of a broad range of industries.
Some of these companies are already famous in Canada, reaching a large population with their products and services. Many startups are less known, as they focus on small business niches and take charge of problems faced by specific professions, but some of them still have managed to become national leaders in their field or even players in the international business arena.
List of the 30 top-funded startups from Canada
Here is the list of the top 30 best-funded Canadian startups with details about each company, the total amount of funds received by the company in US $ or CA $, according to Crunchbase, as of April 15, 2019 (with CA $ converted to US $ with the rate of 0.750 US$/CA$), together with a direct link to the company’s website.
Note that this post is part of series:
- Top US startups
- Top Brazilian startups
- Top UK startups
- Top German startups
- Top Indian startups
- Top Australian startups
Quick links to the 30 best-funded startups of Canada
To facilitate your browsing in this long list, here are quick links to go directly to the details of any of the top 30 Canadian startups.
Industry: FinTech, Artificial Intelligence – Total funding: $ 13.7 Million
Finn AI provides an AI-powered virtual assistant for personal banking and finance. Thanks to its team of data scientists, engineers, and financial experts, Finn AI helps banks and credit providers to transform their customers’ experiences, facilitating money management through a digital experience.
Industry: 3D Modeling, Machine Vision – Total funding: $ 13.8 Million
Airy3D is specialized in 3D rendering through its depth-sensing platform. It provides a suite of passive light-field recovery technologies that can be implemented through any kind of visual sensor ensuring quality 3D rendering without sacrificing battery life or image quality.
Industry: Lifestyle, Biotechnology – Total funding: $ 14.1 Million
Inkbox is specialized in the creation, sales, and delivery of semi-permanent tattoos lasting about 1 to 2 weeks. Selling its products primarily online, Inkbox also animates a dedicated community of designers and users who contribute to the development of semi-permanent tattoo trends.
Industry: Event Management – Total funding: $ 14.5 Million
Eventbase delivers mobile apps for enterprise events, conferences and meetings. Recognized for its innovative approach with technologies including chatbots, recommendation engines, and proximity beacons, Eventbase has received multiple awards and become a leader in the field.
Industry: Financial Services, FinTech – Total funding: $ 15.3 Million
Instant Financial provides an instant pay platform to businesses and their employees, reducing problems of pay frequency. It allows employees to receive a portion of their earned income after every shift and eases the financial constraints on their lives. This benefit is particularly valuable in the hospitality, retail, manufacturing, construction and healthcare industries.
Industry: Health Care, Communication – Total funding: $ 16 Million
Dialogue is a telemedicine platform enhancing and complementing the Canadian healthcare system. It provides additional communication channels for patients to connect directly with healthcare professionals from a broad range of specialties.
Industry: Genetics, Artificial Intelligence – Total funding: $ 16.7 Million
Deep Genomics is a company that uses artificial intelligence to build genetic medicines, focusing on the pre-clinical development of oligonucleotide therapies. Its platform is specialized in finding drug candidates to cure certain genetic diseases by predicting molecular phenotypes alterations.
Industry: FinTech, Insurance, Wealth Management – Total funding: $ 17.8 Million
Planswell is developing specialized personal finance software to enhance its customers’ standards of living throughout their life. With a team of financial experts and engineers, Planswell provides financial advice to suit its users’ lifestyles, delivering the best deals on mortgage, investment, and insurance.
Industry: Financial Services, FinTech – Total funding: $ 18.9 Million
Sensibill provides an intuitive platform to manage digital receipts via mobile banking apps. Through its receipt management solution, Sensibill allows large banks and financial institutions to reach the largely untapped market of freelancers, together with the digital-savvy entrepreneurs and small and medium-sized companies.
Industry: Identity Management, Data Integration – Total funding: $ 19.3 Million
LoginRadius provides a platform specialized in customer identity and access management for websites and mobile apps. It allows more than 3,500 companies to easily and securely connect with their customers across the globe via its cloud-based application.
Industry: Ad Exchange – Total funding: $ 20 Million
District M is an advertising exchange platform. It provides a convenient marketplace with programmatic solutions for publishers and advertisers to quickly and easily connect, and maximize opportunities to match the offer and demand for digital advertising.
Industry: Software, Health Care – Total funding: $ 23 Million
AlayaCare provides a software platform and hardware ecosystem for home care agencies to deliver telehealth and visiting health solutions. It allows its clients to provide a better service to their patients, ultimately empowering them to live better lives while reducing their costs for healthcare.
Industry: Cloud Computing, IT Management – Total funding: $ 33.3 Million
Auvik offers cloud-based software to automate and facilitate network monitoring and management for IT managed service providers. Auvik helps managed service providers to deliver increased visibility, documentation, and monitoring to client networks, and automate time-consuming tasks.
Industry: Content Marketing, Marketing Automation – Total funding: $ 36 Million
Uberflip provides a platform to create, manage and optimize content experiences. Through its content marketing platform, Uberflip helps marketers aggregate their content to boost engagement, generate leads and fuel demand generation to better leverage content to meet their goals.
Industry: FinTech, Trading Platform, Cryptocurrency – Total funding: CA$ 53 Million
Coinsquare is the leading cryptocurrency trading platform in Canada. Founded in 2014, it allows the trading of Bitcoin, Ethereum, Ripple, Litecoin and other digital currencies. Focusing on security and convenience, Coinsquare is building a financial services company relying on Blockchain technology.
Industry: Artificial Intelligence, Transportation – Total funding: $ 46.5 Million
Miovision Technologies develops transportation network technologies to minimize the environmental impact and inefficiencies of transport. It provides Artificial Intelligence software and hardware for traffic signal planning and operations, helping “Smart Cities” improve their cost structure and accuracy.
Industry: Artificial Intelligence, Text Analytics – Total funding: CA$ 65 Million
Kira Systems is a machine learning software system specialized in contract review and analysis. It identifies, extracts, and analyzes texts in contracts and other documents, Kira Systems is particularly helpful for due diligence, knowledge management, lease abstraction, and regulatory compliance.
Industry: EdTech, Mobile Apps – Total funding: $ 49.4 Million
Top Hat provides a student engagement and interactive teaching platform. Helping college professors activate classrooms, Top Hat transforms traditional, passive university lectures by making students use their personal devices during class through quizzes, polls, and simulations.
Industry: Retail Technology, Mobile Apps – Total funding: $ 51.2 Million
Tulip Retail provides a suite of digital tools built exclusively for in-store retail. Through its cloud-based platform, Tulip helps retail staff better manage their shop and provide an omnichannel shopping experience to customers, with assisted selling, store communications, point of sale software and more.
Industry: Software – Total funding: $ 52.8 Million
TrackTik is an operation software dedicated to the security industry, helping them achieve better business performance and mitigate risk. It allows security companies to optimize and standardize their processes through tracking, scheduling, reporting, and dispatch features.
Industry: Pharmaceutical, Retail – Total funding: $ 53.7 Million
MedAvail Technologies is a healthcare technology company providing a self-service pharmacy, mobile app, kiosk, and drive-thru solution, supporting the dispensing of prescription drugs and Over-The-Counter medications. MedAvail notably allows dispensing medicine in remote sites such as employer locations, clinics, hospitals, and retail locations.
Industry: E-Commerce, Developer APIs – Total funding: $ 54.2 Million
Elastic Path provides omnichannel commerce software to help businesses increase revenue from their products, services, and content. It allows companies to understand their customers’ experience through discovery, buying, and consumption to maximize engagement and conversion.
Industry: Point of Sale – Total funding: $ 105.3 Million
TouchBistro provides a specialized software platform for restaurants. It allows restaurant waiters to instantly submit customers’ orders to the kitchen and bar through a single entry system that reduces errors and increases efficiency. It presents more impacting menus with details and pictures, enabling fast and convenient updates or even publication to the web.
Industry: Artificial Intelligence – Total funding: $ 107 Million
Element AI is an Artificial Intelligence company helping organizations become stronger, safer and more agile by developing AI-powered suites of software. It is especially involved in industries where data is important, including insurance, capital markets, banking and wealth management, manufacturing, retail, cybersecurity and transportation, and logistics.
Industry: Food and Beverage, Apps – Total funding: $ 112.9 Million
Ritual is an innovative social ordering app for people to buy online and get their orders delivered or ready when they arrive at restaurants or coffee shops. Furthermore, it allows co-workers to add upon existing orders, allowing social orderings to save time for customers and increase revenues for merchants.
Industry: Real Estate, Apps – Total funding: $ 122.5 Million
Breather provides access to flexible workspaces by the hour, day or month. With its app and space-as-a-service offer, Breather brings flexible workspace solutions to any company or independent worker, away from traditional leases and delays that may burden dynamic and fast-changing businesses.
Industry: Financial Services – Total funding: CA$ 166.9 Million
Wealthsimple provides simple investing and money management solutions. Diversifying investments through various assets and optimizing tax bills, Wealthsimple manages money and risks for individuals with automatic rebalancing, dividend reinvesting, and tax loss harvesting thanks to its cloud-based platform and a team of financial experts.
Industry: Internet of Things, Energy Management – Total funding: $ 149.4 Million
Ecobee provides smart thermostats that enable residential and commercial energy conservation applications. With its Wi-Fi enabled, digital, programmable thermostat, Ecobee allows to easily customize, and remotely access temperature settings in single-family homes, multi-family dwellings, and offices.
Industry: Developer Platform, Enterprise Software – Total funding: $ 167.2 Million
Coveo provides Artificial Intelligence-powered search and recommendation engines. It helps organizations deliver personalized experiences through contextually relevant information at every interaction in their customer relations management, customer service applications, intranets, and websites.
Industry: Point of Sale, E-commerce – Total funding: $ 347 Million
Lightspeed provides Point-Of-Sale Software, table management and analytics platform to restaurateurs and retailers. It offers a centralized platform with POS software and omnichannel retail solution allowing them to easily run their businesses by combining inventory management, customer preferences, sales and reporting with an e-commerce platform.
Here are the top 30 best-funded startups from Canada. Did we forget any? Did you buy any product or service from them? Which one do you think provides the most useful product? Let us know in the comments below!