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. To read more about the Scale-Up Score, click here.
Computer Technology Companies – 2021
| Rank | Organization Name | Year Founded | Funding $US | Scale-Up Score | Location |
|---|---|---|---|---|---|
| 1 | ApplyBoard | 2015 | 178,312,957 | 87.9 | Waterloo |
| 2 | Symend | 2016 | 53,175,000 | 82.2 | Calgary |
| 3 | Hootsuite | 2008 | 299,900,000 | 71.7 | Vancouver |
| 4 | Wealthsimple | 2014 | 289,635,381 | 69.9 | Toronto |
| 5 | Geotab | 2000 | 0 | 60.7 | Oakville |
| 6 | PointClickCare | 1995 | 229,978,522 | 60.4 | Mississauga |
| 7 | Talent.com (neuvoo) | 2011 | 51,400,000 | 54.4 | Montreal |
| 8 | MedChart | 2015 | 5,470,000 | 53.2 | Toronto |
| 9 | 1Password | 2005 | 200,000,000 | 52.3 | Toronto |
| 10 | Coveo | 2005 | 339,350,323 | 50.4 | Quebec |
| 11 | Dialogue | 2016 | 88,726,225 | 48.1 | Montreal |
| 12 | Clio | 2008 | 276,000,000 | 47.0 | Vancouver |
| 13 | SOTI Inc. | 1995 | 0 | 46.9 | Mississauga |
| 14 | AlayaCare | 2014 | 110,557,346 | 44.2 | Montreal |
| 15 | D2L | 1999 | 168,500,000 | 44.1 | Kitchener |
| 16 | Maple | 2015 | 73,744,826 | 42.2 | Toronto |
| 17 | PartnerStack | 2015 | 7,300,000 | 40.9 | Toronto |
| 18 | Vena Solutions | 2011 | 176,000,000 | 40.4 | Toronto |
| 19 | Ada | 2014 | 60,620,619 | 40.0 | Toronto |
| 20 | Vention | 2016 | 43,761,066 | 39.3 | Montreal |
| 21 | Thinkific | 2012 | 22,000,000 | 38.4 | Vancouver |
| 22 | Q4 | 2006 | 91,322,515 | 37.9 | Toronto |
| 23 | TouchBistro | 2010 | 209,400,000 | 37.2 | Toronto |
| 24 | Assent Compliance | 2010 | 183,629,304 | 36.2 | Ottawa |
| 25 | Hopper | 2007 | 253,679,549 | 35.9 | Montreal |
| 26 | Paper Edu | 2014 | 9,100,000 | 35.0 | Montreal |
| 27 | Conexiom | 2001 | 40,000,000 | 34.7 | Vancouver |
| 28 | AltaML | 2018 | 6,300,000 | 34.6 | Edmonton |
| 29 | Attabotics | 2015 | 117,425,271 | 34.5 | Calgary |
| 30 | Benevity | 2008 | 69,220,249 | 33.2 | Calgary |
| 31 | Global Relay | 1999 | 0 | 32.6 | Vancouver |
| 32 | BenchSci | 2015 | 44,636,611 | 32.5 | Toronto |
| 33 | Jobber | 2011 | 85,800,000 | 31.2 | Edmonton |
| 34 | MindBeacon Software | 2017 | 33,683,790 | 30.7 | Toronto |
| 35 | Alida | 2000 | 0 | 30.6 | Toronto |
| 36 | Vendasta Technologies | 2008 | 57,304,757 | 30.0 | Saskatoon |
| 37 | Bench | 2012 | 49,100,000 | 29.1 | Vancouver |
| 38 | ecobee | 2007 | 149,432,236 | 28.0 | Toronto |
| 39 | KOHO Financial | 2014 | 57,547,549 | 27.9 | Toronto |
| 40 | Trulioo | 2011 | 80,765,412 | 27.2 | Vancouver |
Health Technology Companies – 2021
| Rank | Organization Name | Year Founded | Funding $US | Scale-Up Score | Location |
|---|---|---|---|---|---|
| 1 | STEMCELL Technologies | 1993 | 15,000,000 | 42.3 | Vancouver |
| 2 | DalCor Pharmaceuticals | 2015 | 153,851,699 | 32.8 | Montreal |
| 4 | MedAvail | 2012 | 150,672,224 | 28.7 | Mississauga |
| 5 | Ironshore Pharmaceuticals | 2008 | 200,000,000 | 27.1 | Toronto |
| 6 | Inversago Pharma | 2015 | 42,000,000 | 24.3 | Montreal |
| 7 | Geneseeq | 2008 | 135,700,255 | 22.5 | Toronto |
| 8 | Deep Genomics | 2014 | 56,700,000 | 18.4 | Toronto |
| 9 | Lung Pacer | 2009 | 75,382,169 | 17.6 | Vancouver |
| 10 | Precision NanoSystem | 2010 | 37,600,000 | 17.0 | Vancouver |
| 11 | Nicoya Lifesciences | 2012 | 12,571,540 | 14.2 | Waterloo |
Clean Technology Companies – 2021
| Rank | Organization Name | Year Founded | Funding $US | Scale-Up Score | Location |
|---|---|---|---|---|---|
| 1 | CSI Solar | 2001 | 260,000,000 | 67.1 | Guelph |
| 2 | Enerkem | 2000 | 655,028,095 | 39.5 | Montreal |
| 3 | GHGSat | 2011 | 42,500,000 | 34.0 | Montreal |
| 4 | Stormfisher Biogas | 2006 | 349,787,329 | 32.5 | Toronto |
| 5 | Li-Cycle | 2016 | 2,700,000 | 31.9 | Mississauga |
| 6 | CarbonCure Technologies | 2007 | 12,428,641 | 26.9 | Halifax |
| 7 | Carbon Engineering | 2009 | 110,355,246 | 26.1 | Squamish |
| 8 | Amp Solar Group | 2009 | 153,480,044 | 23.7 | Port Credit |
| 9 | Eavor | 2017 | 24,270,546 | 22.6 | Calgary |
| 10 | Grasshopper Solar | 2007 | 210,320,668 | 20.3 | Mississauga |