The Top Canadian Tech Companies That Investors Should Watch out For

Canadian technology companies are performing well. There have been companies growing and expanding rapidly while the tech boom has been on and companies that have stayed in their prime even after media attention fizzled out.

For example, Shopify, which is a Canadian e-commerce company headquartered in Ottawa, has seen its shares increase 5 times its initial worth. Experts have long said that the Canadian technological environment is one that can bring about even better and bigger companies. It is not long before a Canadian company becomes a tech ‘‘unicorn’ with a billion dollar valuation.

Here are the top Canadian companies that we feel you should closely monitor. They may become large very fast, because in the world of startups there is sometimes no sense of proportion.

Article

Article is a Vancouver based company with around $90 million in projected 2017 revenue. It is an e-commerce firm and is in the furniture business with offering modern furniture and décor at good price points. This is one of the companies to watch out for in this space.

Breather

Breather is a Montreal based company. It offers workplaces on a ‘pay by the hour’ scheme which makes it lucrative for startups and freelance workers. Some companies even use them as gathering places or meeting hubs even if they have their own workspace. This is definitely a unique concept and something to watch out for this year.

Figure 1

Toronto based Figure 1 is an app. It hosts around 2 million medical professionals on the platform and allows doctors to share images and consult on cases in a privacy-law-compliant way. The app is set out to change the way the health system works for the better. Any medical technology is always awaited and this app is no exception, we should keep an eye out for any advancements and improvements on this one.

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Hopper

Founded in Montreal, Hopper is an app that uses historical flight data to predict airfare price changes and facilitates bookings for users. It is now expanding into the hotel business. Hopper is backed by Brightspark Ventures, Accomplice, OMERS Ventures, BDC Capital IT Venture Fund, Investissement Québec, and Caisse de dépôt et placement du Québec. This is a company to watch out for.


Fiverr

Lightspeed

Montreal based Lightspeed is a point-of-sale system and software provider for independent retailers and restaurants.  The company now has around 500 employees and raised around $207 million in a funding round in October 2017. According to industry sources, there could an IPO in the future.

Ritual

Toronto based Ritual is an app that is already making waves in the U.S. and is ready to come across the border. Its slogan ‘Two ways to order’ is already gaining popularity. It is an order-ahead app and is something that values convenience as it helps customers skip the wait. This is definitely an app that will make it big in bigger cities and crowded locales.

Thalamic Labs

Kitchener based Thalmic Labs is a technology company that makes gesture-based computer interface. It utilizes the wearable-tech trend along with the gesture based trend doing the rounds now. The company is said to have raised around $120 million in a funding round in September 2016. Thalamic Labs is a company that can bring new products in, so it can be a good idea to monitor it closely.

Top Hat

Toronto based Top Hat is a higher education app that aims to make it easier for professors to create and buy digital teaching materials. It looks to get teachers enhance student comprehension and engagement and also helps facilitate in-class participation on students’ phones apart from providing textbooks and notes. This is an app to watch out for in the education space.

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Photo: scazon