The Narwhal List – 2023
The Narwhal List was developed to focus attention on the private Canadian technology companies best poised to become world class firms. To create the list we evaluated the results of 900 Canadian technology companies that have received more than $10 million of capital. For 2023, we have computed a ranking that compares each company to over 15,000 scaling companies in North America. This ranking measures each company’s ability to acquire capital to fuel growth, their growth rate in personnel and how big they have become in terms of the number of employees. The score we have given each company shows their ranking as a percentile against these reference companies. The final number is a percentile between 0% and 100%, showing the percentage of companies that any particular company is performing better at in scaling. This list is created annually and this is the list for January 2023.
Canadian Unicorns – January 1, 2023
| Rank | Organization Name | Scaleup Ranking | Founded | Total $US Funding | City |
|---|---|---|---|---|---|
| 1 | Dapper Labs | 100% | 2018 | 612,507,850 | Vancouver |
| 2 | Hopper | 99% | 2007 | 729,679,549 | Montreal |
| 3 | 1Password | 99% | 2005 | 920,135,000 | Toronto |
| 4 | Ada | 98% | 2016 | 190,620,620 | Toronto |
| 5 | Figment | 98% | 2018 | 165,009,947 | Toronto |
| 6 | ApplyBoard | 97% | 2015 | 483,480,000 | Waterloo |
| 7 | Tenstorrent | 97% | 2016 | 234,549,999 | Toronto |
| 8 | Nexii | 94% | 2019 | 119,525,406 | Vancouver |
| 9 | Assent Inc. | 94% | 2010 | 533,629,305 | Ottawa |
| 10 | Trulioo | 93% | 2011 | 474,765,412 | Vancouver |
| 11 | Clio | 93% | 2008 | 386,000,000 | Vancouver |
| 12 | Xanadu | 92% | 2016 | 235,621,647 | Toronto |
| 13 | Clearco | 90% | 2015 | 698,635,950 | Toronto |
| 14 | FreshBooks | 90% | 2003 | 331,869,317 | Toronto |
| 15 | eSentire | 89% | 2001 | 411,228,870 | Waterloo |
| 16 | Visier | 88% | 2010 | 216,500,000 | Vancouver |
| 17 | Axelar | 84% | 2020 | 63,750,000 | Waterloo |
| 18 | Blockstream | 78% | 2014 | 299,000,000 | Victoria |
| 19 | PointClickCare | 78% | 1995 | 229,978,523 | Mississauga |
Computer Technology Companies – 2023
| Rank | Organization Name | Scaleup Ranking | Founded | Total $US Funding | City |
|---|---|---|---|---|---|
| 1 | Neo Financial | 100% | 2019 | 235,757,890 | Calgary |
| 2 | Nesto | 98% | 2018 | 151,354,383 | Montreal |
| 3 | Cohere | 98% | 2019 | 164,946,073 | Toronto |
| 4 | Clutch | 98% | 2016 | 253,091,201 | Toronto |
| 5 | Wealthsimple | 96% | 2014 | 900,409,434 | Toronto |
| 6 | TRADE X | 96% | 2018 | 169,449,034 | Mississauga |
| 7 | Vention | 95% | 2016 | 138,761,066 | Montreal |
| 8 | Klue | 95% | 2015 | 81,000,000 | Vancouver |
| 9 | League | 94% | 2014 | 171,139,506 | Toronto |
| 10 | BenchSci | 94% | 2015 | 94,533,057 | Toronto |
| 11 | Properly | 94% | 2018 | 154,293,808 | Toronto |
| 12 | KOHO Financial | 94% | 2014 | 278,866,074 | Toronto |
| 13 | RenoRun | 93% | 2016 | 163,727,561 | Montreal |
| 14 | Vena Solutions | 93% | 2011 | 272,805,416 | Toronto |
| 15 | 7shifts | 93% | 2014 | 131,022,846 | Saskatoon |
| 16 | Certn | 93% | 2016 | 83,920,348 | Victoria |
| 17 | Ledn | 93% | 2018 | 103,877,523 | Toronto |
| 18 | Wrk | 93% | 2019 | 43,131,285 | Montreal |
| 19 | Loopio | 92% | 2014 | 208,087,350 | Toronto |
| 20 | Untether AI | 92% | 2018 | 152,000,000 | Toronto |
| 21 | 3Commas | 92% | 2017 | 40,000,000 | Toronto |
| 22 | Auvik Networks | 91% | 2011 | 283,312,569 | Waterloo |
| 23 | Vosker | 90% | 2019 | 125,233,316 | Victoriaville |
| 24 | TealBook | 90% | 2014 | 73,102,173 | Toronto |
| 25 | Sanctuary Cognitive Systems Corporation | 90% | 2018 | 89,697,338 | Vancouver |
| 26 | AlayaCare | 90% | 2014 | 293,405,685 | Montreal |
| 27 | Fullscript | 90% | 2011 | 267,000,000 | Ottawa |
| 28 | Ataccama | 90% | 2008 | 150,500,000 | Toronto |
| 29 | Vetster | 89% | 2020 | 37,424,578 | Toronto |
| 30 | Resq | 89% | 2018 | 46,500,000 | Toronto |
| 31 | Delphia | 89% | 2018 | 79,480,000 | Toronto |
| 32 | POTLOC | 89% | 2014 | 45,275,445 | Montreal |
| 33 | Damon Motors | 89% | 2017 | 53,562,662 | Vancouver |
| 34 | Jobber | 89% | 2011 | 83,461,289 | Edmonton |
| 35 | Wellington-Altus Financial | 88% | 2010 | 85,000,000 | Winnipeg |
| 36 | TouchBistro | 88% | 2010 | 319,578,316 | Toronto |
| 37 | Avidbots Corp. | 88% | 2014 | 106,350,535 | Kitchener |
| 38 | AutoLeap | 88% | 2019 | 24,250,000 | Toronto |
| 39 | Forma Ai | 88% | 2016 | 58,000,000 | Toronto |
| 40 | Attabotics | 88% | 2015 | 193,969,861 | Calgary |
Health Technology Companies – 2023
| Rank | Organization Name | Scaleup Ranking | Founded | Total $US Funding | City |
|---|---|---|---|---|---|
| 1 | Deep Genomics | 90% | 2014 | 236,700,000 | Toronto |
| 2 | Notch Therapeutics | 89% | 2018 | 86,000,000 | Toronto |
| 3 | Virogin Biotech | 79% | 2015 | 204,000,000 | Vancouver |
| 4 | Kardium | 77% | 2007 | 116,136,865 | Richmond |
| 5 | Synaptive Medical | 71% | 2012 | 53,884,478 | Toronto |
| 6 | Mara Renewables | 62% | 2012 | 42,500,000 | Dartmouth |
| 7 | NuChem Sciences | 62% | 2011 | 37,600,000 | Quebec |
| 8 | Qvella Corporation | 61% | 2009 | 45,399,000 | Richmond |
| 9 | Nomic Bio | 61% | 2017 | 18,025,686 | Montreal |
| 10 | Geneseeq | 54% | 2008 | 135,700,255 | Toronto |
Clean Technology Companies – 2023
| Rank | Organization Name | Scaleup Ranking | Founded | Total $US Funding | City |
|---|---|---|---|---|---|
| 1 | Svante | 92% | 2007 | 473,963,016 | Burnaby |
| 2 | General Fusion | 90% | 2002 | 322,076,066 | Burnaby |
| 3 | Amp Solar Group | 90% | 2009 | 1,032,480,045 | Port Credit |
| 4 | Eddyfi | 85% | 2009 | 462,374,292 | Quebec |
| 5 | Enerkem | 85% | 2000 | 871,487,749 | Montreal |
| 6 | GHGSat | 85% | 2011 | 103,538,089 | Montreal |
| 7 | Summit Nanotech | 79% | 2018 | 33,899,194 | Calgary |
| 8 | Carbon Engineering | 74% | 2009 | 110,355,247 | Squamish |
| 9 | Anaergia | 72% | 2010 | 50,658,111 | Toronto |
| 10 | BluEarth Renewables | 70% | 2010 | 81,000,000 | Calgary |