The Narwhal List – 2020
The Narwhal List was developed to focus attention on the Canadian technology companies best poised to become world class firms. The list uses Financial Velocity as the metric to identify leading firms. This measures the rate at which firms acquire and deploy capital to fuel growth. This list is created annually and this is the list for 2020.
Computer Technology Companies – 2020
| Rank | Organization Name | Founded | Total Funding | Financial Velocity | Sector | City |
|---|---|---|---|---|---|---|
| 1 | Element AI | 2016 | 257.4 | 64.4 | Computer Software | Montreal |
| 2 | Verafin | 2003 | 453.9 | 26.7 | Computer Software | St. John's |
| 3 | Hootsuite | 2008 | 299.6 | 25.0 | Marketing and Advertising | Vancouver |
| 4 | North | 2012 | 199.6 | 25.0 | Consumer Electronics | Kitchener |
| 5 | Clio | 2008 | 276.0 | 23.0 | Legal Technology | Vancouver |
| 6 | Coveo | 2005 | 339.4 | 22.6 | Computer Software | Quebec |
| 7 | TouchBistro | 2010 | 209.2 | 20.9 | Computer Software | Toronto |
| 8 | Assent Compliance | 2011 | 183.6 | 20.4 | Information Technology | Ottawa |
| 9 | Dapper Labs | 2018 | 38.9 | 19.4 | Computer Software | Vancouver |
| 10 | Nuvei | 2003 | 330.0 | 19.4 | Financial Services | Montreal |
| 11 | Ritual | 2014 | 112.8 | 18.8 | Consumer Services | Toronto |
| 12 | Blockstream | 2014 | 101.0 | 16.8 | Computer Software | Victoria |
| 13 | Integrate.ai | 2017 | 49.6 | 16.5 | Computer Software | Toronto |
| 14 | Breather | 2012 | 122.5 | 15.3 | Real Estate | Montreal |
| 15 | Drop | 2015 | 75.0 | 15.0 | Consumer Services | Toronto |
| 16 | ecobee | 2007 | 192.3 | 14.8 | Consumer Electronics | Toronto |
| 17 | Hopper | 2007 | 183.4 | 14.1 | Internet | Montreal |
| 18 | Dialogue | 2016 | 56.0 | 14.0 | Health | Montreal |
| 19 | Plusgrade | 2009 | 150.6 | 13.7 | Aviation | Montreal |
| 20 | Vena Solutions | 2011 | 120.0 | 13.3 | Computer Software | Toronto |
| 21 | 1Password | 2005 | 200.0 | 13.3 | Computer Security | Toronto |
| 22 | League | 2014 | 76.1 | 12.7 | Information Technology | Toronto |
| 23 | Borrowell | 2014 | 72.4 | 12.1 | Financial Services | Toronto |
| 24 | Fiix Software | 2015 | 57.9 | 11.6 | Information Technology | Toronto |
| 25 | D-Wave Systems | 1999 | 238.9 | 11.4 | Computer Hardware | Burnaby |
| 26 | Ranovus | 2012 | 89.9 | 11.2 | Telecommunications | Ottawa |
| 27 | ApplyBoard | 2015 | 54.2 | 10.8 | Higher Education | Waterloo |
| 28 | AlayaCare | 2014 | 62.2 | 10.4 | Computer Software | Montreal |
| 29 | MOJIO | 2012 | 80.7 | 10.1 | Automotive | Vancouver |
| 30 | eSentire | 2001 | 187.9 | 9.9 | Computer Security | Kitchener |
| 31 | KOHO Financial | 2014 | 57.5 | 9.6 | Financial Services | Toronto |
| 32 | PointClickCare | 1995 | 229.9 | 9.2 | Computer Software | Mississauga |
| 33 | Visier | 2010 | 91.5 | 9.2 | Computer Software | Vancouver |
| 34 | LeddarTech | 2007 | 117.0 | 9.0 | Automotive | Quebec |
| 35 | Trulioo | 2011 | 80.7 | 9.0 | Internet | Vancouver |
| 36 | Tenstorrent | 2016 | 34.0 | 8.5 | Computer Hardware | Toronto |
| 37 | MindBridge AI | 2015 | 42.3 | 8.5 | Financial Services | Ottawa |
| 38 | Wattpad | 2006 | 117.8 | 8.4 | Internet | Toronto |
| 39 | Vidyard | 2011 | 75.6 | 8.4 | Online Media | Kitchener |
| 40 | Properly | 2018 | 16.6 | 8.3 | Real Estate | Toronto |
Health Technology Companies – 2020
| Rank | Organization Name | Founded | Total Funding | Financial Velocity | Sector | City |
|---|---|---|---|---|---|---|
| 1 | Chinook Therapeutics | 2019 | 65,000,000 | 65.0 | Biotechnology | Vancouver |
| 2 | Repare Therapeutics | 2016 | 150,500,000 | 37.6 | Biotechnology | Saint Laurent |
| 3 | DalCor Pharmaceuticals | 2015 | 150,000,000 | 30.0 | Pharmaceuticals | Montreal |
| 4 | Fusion Pharmaceuticals | 2014 | 151,000,000 | 25.2 | Biotechnology | Hamilton |
| 5 | Ironshore/Highland | 2008 | 257,000,000 | 21.4 | Biotechnology | Toronto |
| 6 | Geneseeq | 2008 | 135,806,798 | 11.3 | Biotechnology | Toronto |
| 7 | Deep Genomics | 2014 | 56,700,000 | 9.5 | Biotechnology | Toronto |
| 8 | Northern Biologics | 2014 | 47,300,000 | 7.9 | Biotechnology | Toronto |
| 9 | PreciThera | 2016 | 28,709,690 | 7.2 | Biotechnology | Montreal |
| 10 | Lungpacer Medical | 2009 | 75,380,000 | 6.9 | Medical Device | Vancouver |
Clean Technology Companies – 2020
| Rank | Organization Name | Founded | Total Funding ($US) | Financial Velocity | Sector | City |
|---|---|---|---|---|---|---|
| 1 | Enerkem | 2000 | 616,487,747 | 30.8 | Renewables and Environment | Montreal |
| 2 | Stormfisher Biogas | 2006 | 349,787,329 | 25.0 | Renewables and Environment | Toronto |
| 3 | Grasshopper Solar | 2007 | 210,320,668 | 16.2 | Renewables and Environment | Mississauga |
| 4 | Amp Solar Group | 2009 | 153,480,044 | 14.0 | Renewables and Environment | Port Credit |
| 5 | Kineticor | 2013 | 80,000,000 | 11.4 | Oil and Energy | Calgary |
| 6 | Velvet Energy | 2011 | 100,000,000 | 11.1 | Oil and Energy | Calgary |
| 7 | General Fusion | 2002 | 192,133,043 | 10.7 | Renewables and Environment | Burnaby |
| 8 | Carbon Engineering | 2009 | 107,355,246 | 9.8 | Renewables and Environment | Squamish |
| 9 | BluEarth Renewables | 2010 | 81,000,000 | 8.1 | Renewables and Environment | Calgary |
| 10 | Eavor | 2017 | 24,270,543 | 8.1 | Renewables and Environment | Calgary |