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

RankOrganization NameFoundedTotal FundingFinancial VelocitySectorCity
1Element AI2016257.464.4Computer SoftwareMontreal
2Verafin2003453.926.7Computer SoftwareSt. John's
3Hootsuite2008299.625.0Marketing and AdvertisingVancouver
4North2012199.625.0Consumer ElectronicsKitchener
5Clio2008276.023.0Legal TechnologyVancouver
6Coveo2005339.422.6Computer SoftwareQuebec
7TouchBistro2010209.220.9Computer SoftwareToronto
8Assent Compliance2011183.620.4Information TechnologyOttawa
9Dapper Labs201838.919.4Computer SoftwareVancouver
10Nuvei2003330.019.4Financial ServicesMontreal
11Ritual2014112.818.8Consumer ServicesToronto
12Blockstream2014101.016.8Computer SoftwareVictoria
13Integrate.ai201749.616.5Computer SoftwareToronto
14Breather2012122.515.3Real EstateMontreal
15Drop201575.015.0Consumer ServicesToronto
16ecobee2007192.314.8Consumer ElectronicsToronto
17Hopper2007183.414.1InternetMontreal
18Dialogue201656.014.0HealthMontreal
19Plusgrade2009150.613.7AviationMontreal
20Vena Solutions2011120.013.3Computer SoftwareToronto
211Password2005200.013.3Computer SecurityToronto
22League201476.112.7Information TechnologyToronto
23Borrowell201472.412.1Financial ServicesToronto
24Fiix Software201557.911.6Information TechnologyToronto
25D-Wave Systems1999238.911.4Computer HardwareBurnaby
26Ranovus201289.911.2TelecommunicationsOttawa
27ApplyBoard201554.210.8Higher EducationWaterloo
28AlayaCare201462.210.4Computer SoftwareMontreal
29MOJIO201280.710.1AutomotiveVancouver
30eSentire2001187.99.9Computer SecurityKitchener
31KOHO Financial201457.59.6Financial ServicesToronto
32PointClickCare1995229.99.2Computer SoftwareMississauga
33Visier201091.59.2Computer SoftwareVancouver
34LeddarTech2007117.09.0AutomotiveQuebec
35Trulioo201180.79.0InternetVancouver
36Tenstorrent201634.08.5Computer HardwareToronto
37MindBridge AI201542.38.5Financial ServicesOttawa
38Wattpad2006117.88.4InternetToronto
39Vidyard201175.68.4Online MediaKitchener
40Properly201816.68.3Real EstateToronto

Health Technology Companies – 2020

RankOrganization NameFoundedTotal FundingFinancial VelocitySectorCity
1Chinook Therapeutics201965,000,00065.0BiotechnologyVancouver
2Repare Therapeutics2016150,500,00037.6BiotechnologySaint Laurent
3DalCor Pharmaceuticals2015150,000,00030.0PharmaceuticalsMontreal
4Fusion Pharmaceuticals2014151,000,00025.2BiotechnologyHamilton
5Ironshore/Highland2008257,000,00021.4BiotechnologyToronto
6Geneseeq2008135,806,79811.3BiotechnologyToronto
7Deep Genomics201456,700,0009.5BiotechnologyToronto
8Northern Biologics201447,300,0007.9BiotechnologyToronto
9PreciThera201628,709,6907.2BiotechnologyMontreal
10Lungpacer Medical200975,380,0006.9Medical DeviceVancouver

Clean Technology Companies – 2020

RankOrganization NameFoundedTotal Funding ($US)Financial VelocitySectorCity
1Enerkem2000616,487,74730.8Renewables and EnvironmentMontreal
2Stormfisher Biogas2006349,787,32925.0Renewables and EnvironmentToronto
3Grasshopper Solar2007210,320,66816.2Renewables and EnvironmentMississauga
4Amp Solar Group2009153,480,04414.0Renewables and EnvironmentPort Credit
5Kineticor201380,000,00011.4Oil and EnergyCalgary
6Velvet Energy2011100,000,00011.1Oil and EnergyCalgary
7General Fusion2002192,133,04310.7Renewables and EnvironmentBurnaby
8Carbon Engineering2009107,355,2469.8Renewables and EnvironmentSquamish
9BluEarth Renewables201081,000,0008.1Renewables and EnvironmentCalgary
10Eavor201724,270,5438.1Renewables and EnvironmentCalgary