These are the 50 fastest-growing tech companies in Canada

Nov 7 2019, 5:00 pm

Deloitte has announced the winners of its Fast 50 program today, shining a spotlight on companies that are growing fast and value diversity in Canada.

The list, first launched 22 years ago, looks at the evolution of our country’s tech sector and highlights commitment to innovation and leadership. The companies span a variety of industry sectors, are leaders in hardware, software, telecom, digital media, and emerging areas like clean technology, and experienced rapid revenue growth between 2015 and 2018.

This year, the average three-year growth of the Fast 50 winners is 1,689%.

The majority of this year’s Fast 50 winners are based in Ontario (27), followed by British Columbia (10), Quebec (7), with the balance from the Prairie region (4), National Capital Region (1), and Atlantic region (1).

All top three spots on the list were captured by companies in the Kitchener-Waterloo region of Ontario. ApplyBoard, an SaaS-enabled recruitment platform designed to help international students, took top spot — with a three-year growth of 12,525%.

Second place, with a three-year growth rate of 10,246%, is Intellijoint Surgical, which develops smart tools that enhance the accuracy of orthopedic surgery. The third spot was taken by Auvik Networks, a cloud-based network-monitoring and management software for IT-managed service providers.

“This year’s Fast 50 winners should be incredibly proud of the impact they are making across all industries. They are living proof that innovation and adaptability are key factors in remaining competitive and thriving in unpredictable times,” said Erica Pretorius, partner and national leader for the Technology Fast 50 program at Deloitte Canada.

“This outstanding designation is being noticed, and it enables companies to attract local and international talent to the sector, which will continue to fuel the fire of innovation and growth.”

To qualify for the Fast 50, companies must have been in business for at least four years, have a revenue of at least $5 million, be headquartered in Canada, own proprietary technology, conduct research and development activities in Canada, and invest a minimum of 5% of gross revenues in R&D.

Here’s a look at the full top 50 list: