Canada has become a strong contender in the global startup scene, with diverse sectors like fintech and artificial intelligence. Cities such as Toronto, Vancouver, and Montreal have shown support for entrepreneurial activity, drawing in top talent and significant investments. Across Canada, the growth of unicorns, or startups which are valuated at $1 billion or more, has played a vital role in creating jobs, driving innovation, and boosting Canada’s reputation as a leading tech hub worldwide.
As we explore the top 10 unicorns in Canada ranked by their valuations, we will delve into their unique contributions to the startup ecosystem and the factors that have propelled them to remarkable achievements. Read on to discover the standout companies that are shaping the future of innovation in Canada.
- Dapper Labs: $7.60B (September 2021)
Focus: Blockchain technology and digital collectibles
Location: Vancouver, British Columbia
Dapper Labs is a blockchain company known for pioneering the NFT (non-fungible token) space. The company leverages blockchain technology to create decentralized applications that connect fans to their favorite brands and offer innovative digital experiences. Dapper Labs is best known for its products including CryptoKitties and NBA Top Shot. Founded in 2018, the company has quickly grown to become one of Canada’s most influential tech companies. The startup has garnered support from over 140 investors and employs nearly 200 people, positioning itself as a leader in the emerging NFT and blockchain gaming markets.
- 1Password: $6.80B (January 2022)
Focus: Cybersecurity, network security, and software industries
Location: Toronto, Ontario
Founded in 2005 by Dave Teare, Natalia Karimov, Roustem Karimov, and Sara Teare,
1Password provides a secure and user-friendly password manager designed to store and manage passwords, credit card details, documents, and addresses. The platform features advanced security capabilities, including encrypted storage, cross-device synchronization, and enterprise-level management tools.
- PointClickCare : $5.00B (July 2022)
Focus: Medtech and healthcare IT industries.
Location: Mississauga, Ontario
PointClickCare provides a cloud-based platform designed for electronic health records (EHR), specifically tailored to the needs of senior living communities, home health agencies, and nursing facilities. The platform enables healthcare providers to manage and track patient medical records efficiently, improving care delivery through integrated solutions for clinical, administrative, and financial workflows. With a range of services that optimize healthcare management, PointClickCare has become a vital tool in the long-term and post-acute care sectors.
- Hopper: $5.00B (March 2021)
Focus: Travel, big data, and predictive analytics industries
Location: Montreal, Quebec
Hopper is a travel app that uses advanced data analytics to track millions of flights and predict the best time to book based on users’ priorities. The app simplifies the booking process by providing personalized recommendations for flights and accommodation, helping travelers save both time and money. With its mobile-first approach, Hopper offers users price monitoring and booking directly from the app.
- Wealthsimple: $5.00B (September 2024)
Focus: Financial services, investing, and personal finance management
Location: Toronto, Ontario
Wealthsimple provides services such as robo-advisory, stock trading, cryptocurrency investment and tax filling assistance. Designed to simplify financial management by offering tools and services that make investing and saving more accessible, the company aims to provide users with a comprehensive approach to managing their finances effectively.
- PointClickCare: $4.00B (January 2021)
Focus: Web-based healthcare software and management services for long-term care facilities
Location: Mississauga, Ontario
PointClickCare has positioned itself as a leader in the healthcare sector, specifically in personal health, pharmaceuticals, and wellness. The company has demonstrated a commitment to innovation and quality service in the healthcare industry by offering comprehensive solutions designed to improve patient care and streamline operational processes.
- ApplyBoard: $4.00B (June 2021)
Focus: Online education services
Location: Kitchener, Ontario
ApplyBoard empowers students globally to access quality education and enjoy the learning experience. The platform streamlines educational application processes by connecting students with recruitment agencies and post-secondary institutions, simplifying the path for applying to North American universities. ApplyBoard’s innovative approach has made it a vital resource for students around the world seeking higher education opportunities.
- Blockstream: $3.20B (August 2021)
Focus: Bitcoin and blockchain technology
Location: Vancouver, British Columbia
Blockstream offers innovative products in sectors such as cryptocurrency, data storage, and financial technology. The company has solidified its position as a key player in the rapidly evolving blockchain landscape.
- Clearco: $2.00B (April 2021)
Focus: E-commerce, financial services, and fintech sectors
Location: Toronto, Ontario
Clearco offers innovative performance financing products and services designed specifically for founders at all stages of their business journey. The company has raised a total of $935.01 million across five funding rounds, supported by 29 investors, positioning it as a vital resource for startups seeking flexible financial solutions.
- Trulioo: $1.75B (June 2021)
Focus: Big data, finance, and identify management
Location: Vancouver, British Columbia
Trulioo is an online verification company that provides a digital identity network, implementing robust security and privacy standards. Trulioo’s innovative solutions enable businesses to verify customer identities seamlessly, ensuring compliance with global regulations while enhancing security and trust in digital transactions.
Canada’s unicorns highlight the growing strength and diversity of the country’s startup ecosystem. For startups looking to scale their business, we offer a variety of services to support growth. Contact us to learn more about how we can help you navigate the next steps in expanding your company.
A unicorn refers to privately held startups with a valuation of $1 billion or more. These companies often stand at the forefront of technology and innovation, driving transformative changes across various industries.
Canada has become a strong contender in the global startup scene, with diverse sectors like fintech and artificial intelligence. Cities such as Toronto, Vancouver, and Montreal thrive with entrepreneurial energy, drawing in top talent and significant investments. The growth of unicorns in Canada showcases the creativity of its entrepreneurs and brings optimism to the economy. These billion-dollar companies play a vital role in job creation, drive innovation, and boost Canada’s reputation as a leading tech hub worldwide.
As we explore the top 10 unicorns in Canada ranked by their valuations, we will delve into their unique contributions to the startup ecosystem and the factors that have propelled them to remarkable achievements. Read on to discover the standout companies that are shaping the future of innovation in Canada.
- Dapper Labs: $7.60B (September 2021)
Focus: Blockchain technology and digital collectibles
Location: Vancouver, British Columbia
Dapper Labs is a blockchain company known for pioneering the NFT (non-fungible token) space. The company leverages blockchain technology to create decentralized applications that connect fans to their favorite brands and offer innovative digital experiences. Dapper Labs is best known for its products including CryptoKitties and NBA Top Shot. Founded in 2018, the company has quickly grown to become one of Canada’s most influential tech companies. The startup has garnered support from over 140 investors and employs nearly 200 people, positioning itself as a leader in the emerging NFT and blockchain gaming markets.
2. 1Password: $6.80B (January 2022)
Focus: Cybersecurity, network security, and software industries
Location: Toronto, Ontario
Founded in 2005 by Dave Teare, Natalia Karimov, Roustem Karimov, and Sara Teare,
1Password provides a secure and user-friendly password manager designed to store and manage passwords, credit card details, documents, and addresses. The platform features advanced security capabilities, including encrypted storage, cross-device synchronization, and enterprise-level management tools.
3. PointClickCare : $5.00B (July 2022)
Focus: Medtech and healthcare IT industries.
Location: Mississauga, Ontario
PointClickCare provides a cloud-based platform designed for electronic health records (EHR), specifically tailored to the needs of senior living communities, home health agencies, and nursing facilities. The platform enables healthcare providers to manage and track patient medical records efficiently, improving care delivery through integrated solutions for clinical, administrative, and financial workflows. With a range of services that optimize healthcare management, PointClickCare has become a vital tool in the long-term and post-acute care sectors.
4. Hopper: $5.00B (March 2021)
Focus: Travel, big data, and predictive analytics industries
Location: Montreal, Quebec
Hopper is a travel app that uses advanced data analytics to track millions of flights and predict the best time to book based on users’ priorities. The app simplifies the booking process by providing personalized recommendations for flights and accommodation, helping travelers save both time and money. With its mobile-first approach, Hopper offers users price monitoring and booking directly from the app.
5. Wealthsimple: $5.00B (September 2024)
Focus: Financial services, investing, and personal finance management
Location: Toronto, Ontario
Wealthsimple provides services such as robo-advisory, stock trading, cryptocurrency investment and tax filling assistance. Designed to simplify financial management by offering tools and services that make investing and saving more accessible, the company aims to provide users with a comprehensive approach to managing their finances effectively.
6. PointClickCare: $4.00B (January 2021)
Focus: Web-based healthcare software and management services for long-term care facilities
Location: Mississauga, Ontario
PointClickCare has positioned itself as a leader in the healthcare sector, specifically in personal health, pharmaceuticals, and wellness. The company has demonstrated a commitment to innovation and quality service in the healthcare industry by offering comprehensive solutions designed to improve patient care and streamline operational processes.
7. ApplyBoard: $4.00B (June 2021)
Focus: Online education services
Location: Kitchener, Ontario
ApplyBoard empowers students globally to access quality education and enjoy the learning experience. The platform streamlines educational application processes by connecting students with recruitment agencies and post-secondary institutions, simplifying the path for applying to North American universities. ApplyBoard’s innovative approach has made it a vital resource for students around the world seeking higher education opportunities.
8. Blockstream: $3.20B (August 2021)
Focus: Bitcoin and blockchain technology
Location: Vancouver, British Columbia
Blockstream offers innovative products in sectors such as cryptocurrency, data storage, and financial technology. The company has solidified its position as a key player in the rapidly evolving blockchain landscape.
9. Clearco: $2.00B (April 2021)
Focus: E-commerce, financial services, and fintech sectors
Location: Toronto, Ontario
Clearco offers innovative performance financing products and services designed specifically for founders at all stages of their business journey. The company has raised a total of $935.01 million across five funding rounds, supported by 29 investors, positioning it as a vital resource for startups seeking flexible financial solutions.
10. Trulioo: $1.75B (June 2021)
Focus: Big data, finance, and identify management
Location: Vancouver, British Columbia
Trulioo is an online verification company that provides a digital identity network, implementing robust security and privacy standards. Trulioo’s innovative solutions enable businesses to verify customer identities seamlessly, ensuring compliance with global regulations while enhancing security and trust in digital transactions.
Canada’s unicorns highlight the growing strength and diversity of the country’s startup ecosystem. For startups looking to scale their business, we offer a variety of services to support growth. Contact us to learn more about how we can help you navigate the next steps in expanding your company.
