The Narwhal List – 2021

The Narwhal List was developed to focus attention on the private Canadian technology companies best poised to become world class firms. The list uses three metrics to identify leading firms. These metrics are Financial Velocity, Growth and Firm Size. From publicly available data we have created a Scale-Up Score which rates a firm’s ability to scale to world-class at any stage of its development. Research in over 1,000 companies indicates that a Scale-Up Score of over 25 is critical to enable a firm to continue its trajectory to becoming world-class. This list is created annually and this is the list for January 2021.  

Computer Technology Companies – 2021

RankOrganization NameYear FoundedFunding $USScale-Up ScoreLocation
1ApplyBoard2015178,312,95787.9Waterloo
2Symend201653,175,00082.2Calgary
3Hootsuite2008299,900,00071.7Vancouver
4Wealthsimple2014289,635,38169.9Toronto
5Geotab2000060.7Oakville
6PointClickCare1995229,978,52260.4Mississauga
7Talent.com (neuvoo)201151,400,00054.4Montreal
8MedChart20155,470,00053.2Toronto
91Password2005200,000,00052.3Toronto
10Coveo2005339,350,32350.4Quebec
11Dialogue201688,726,22548.1Montreal
12Clio2008276,000,00047.0Vancouver
13SOTI Inc.1995046.9Mississauga
14AlayaCare2014110,557,34644.2Montreal
15D2L1999168,500,00044.1Kitchener
16Maple201573,744,82642.2Toronto
17PartnerStack20157,300,00040.9Toronto
18Vena Solutions2011176,000,00040.4Toronto
19Ada201460,620,61940.0Toronto
20Vention201643,761,06639.3Montreal
21Thinkific201222,000,00038.4Vancouver
22Q4200691,322,51537.9Toronto
23TouchBistro2010209,400,00037.2Toronto
24Assent Compliance2010183,629,30436.2Ottawa
25Hopper2007253,679,54935.9Montreal
26Paper Edu20149,100,00035.0Montreal
27Conexiom200140,000,00034.7Vancouver
28AltaML20186,300,00034.6Edmonton
29Attabotics2015117,425,27134.5Calgary
30Benevity200869,220,24933.2Calgary
31Global Relay1999032.6Vancouver
32BenchSci201544,636,61132.5Toronto
33Jobber201185,800,00031.2Edmonton
34MindBeacon Software201733,683,79030.7Toronto
35Alida2000030.6Toronto
36Vendasta Technologies200857,304,75730.0Saskatoon
37Bench201249,100,00029.1Vancouver
38ecobee2007149,432,23628.0Toronto
39KOHO Financial201457,547,54927.9Toronto
40Trulioo201180,765,41227.2Vancouver

Health Technology Companies – 2021

RankOrganization NameYear FoundedFunding $USScale-Up ScoreLocation
1STEMCELL Technologies199315,000,00042.3Vancouver
2DalCor Pharmaceuticals2015153,851,69932.8Montreal
4MedAvail2012150,672,22428.7Mississauga
5Ironshore Pharmaceuticals2008200,000,00027.1Toronto
6Inversago Pharma201542,000,00024.3Montreal
7Geneseeq2008135,700,25522.5Toronto
8Deep Genomics201456,700,00018.4Toronto
9Lung Pacer200975,382,16917.6Vancouver
10Precision NanoSystem201037,600,00017.0Vancouver
11Nicoya Lifesciences201212,571,54014.2Waterloo

Clean Technology Companies – 2021

RankOrganization NameYear FoundedFunding $USScale-Up ScoreLocation
1CSI Solar2001260,000,00067.1Guelph
2Enerkem2000655,028,09539.5Montreal
3GHGSat201142,500,00034.0Montreal
4Stormfisher Biogas2006349,787,32932.5Toronto
5Li-Cycle20162,700,00031.9Mississauga
6CarbonCure Technologies200712,428,64126.9Halifax
7Carbon Engineering2009110,355,24626.1Squamish
8Amp Solar Group2009153,480,04423.7Port Credit
9Eavor201724,270,54622.6Calgary
10Grasshopper Solar2007210,320,66820.3Mississauga