Top 75 Fastest Growing Startups In Toronto [2024]

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Updated: June 20th, 2022

Top 75 Fastest Growing Startups In Toronto [2024]

Toronto is Canada's largest city, with a population of over 2.6M people.

Known as the 'Silicon Valley of the North,' Toronto is considered to be one of the greatest places in the world to start a business. There are many factors that can be attributed to this, including the location, quality of life, diversity and economic opportunities.

In this article, we’ve compiled a list of the top 75 startups in Toronto City that are making an impact in 2022.

Here they are:

#	Company	Funding	Revenue	Employees
1	Hydrostor	$322M	$113M	48
2	Wrapbook	$131M	$155M	114
3	Ledn Inc.	$104M	$97.2M	69
4	Figment	$165M	$168M	101
5	ContentFly	$36.4M	$227M	135
6	Ada	$190M	$920M	438
7	Cohere	$56.1M	$87.6M	60
8	TRADE X	$169M	$98.4M	65
9	Tenstorrent	$235M	$770M	146
10	Clearbanc	$682M	$1.23B	620
11	1Password	$920M	$1.65B	529
12	ResQ	$46.5M	$308M	165
13	Clutch	$103M	$936M	215
14	Orchard	$472M	$796M	121
15	TealBook	$73M	$78M	139
16	FreshBooks	$206M	$1.2B	592
17	The Urban Writers	$	$60M	378
18	Alida	$84.4M	$986M	449
19	Properly	$126M	$293M	162
20	Public Inc.	$309M	$88.8M	37
21	Coinchange	$	$140M	177
22	Switch Health	$	$2.12B	700
23	Thentia	$27.5M	$160M	92
24	Smile CDR	$	$884M	243
25	WEFX Inc.	$	$	103
26	MARZ	$5.3M	$614M	227
27	Snapcommerce	$22.4M	$28.8M	168
28	Irwin	$	$211M	84
29	InvoZone	$	$617M	339
30	Fluence Technologies	$12.5M	$101M	64
31	PureFacts	$52.4M	$121M	78
32	Flora Growth	$44.5M	$191M	79
33	sherpa°	$8.5M	$91.2M	68
34	GA Pizza	$13M	$66M	41
35	GAO Tek	$	$2.37B	487
36	Forma	$13M	$204M	117
37	HiMama	$23.9M	$988M	159
38	Epsilon Solutions, Ltd.	$	$107M	68
39	ChainSafe Systems	$	$143M	82
40	KOHO	$279M	$409M	244
41	Second Closet	$123M	$650M	201
42	RCS Technologies	$	$110M	62
43	Field Trip Health	$19.5M	$634M	182
44	The West Egg Group	$	$144M	65
45	iLobby	$100M	$60M	43
46	Accelerator	$	$1.1B	506
47	Opus One Solutions	$7.1M	$169M	101
48	Notch Therapeutics	$86M	$156M	84
49	Xanadu	$45.6M	$1.63B	114
50	Open Farm	$65M	$192M	68
51	BPTN	$	$588M	66
52	Arteria AI	$13.7M	$50.4M
53	Inkblot Therapy	$1.4M	$163M	97
54	New Found Gold Corp.	$108M	$87.6M	39
55	PathFactory	$15M	$178M	102
56	jrvs	$	$214M	123
57	Trufan	$5.2M	$133M	61
58	AlayaCare	$293M	$1.2B	580
59	Foxquilt	$11.5M	$39.6M	51
60	JLL	$	$414M	209
61	Buckzy Payments Inc.	$9M	$90M	66
62	Judo	$3M	$22.8M	26
63	Diversio	$6.5M	$69.6M	60
64	Université de l'Ontario français	$126M	$167M	77
65	Sterling Capital Brokers Ltd.	$	$241M	80
66	Adeptmind	$6.2M	$60M	43
67	BenchSci	$94.5M	$547M	294
68	Vault Credit	$	$161M	71
69	iScope	$	$127M	49
70	Maple Tech Space	$	$39.6M	51
71	eSSENTIAL Accessibility	$86.4M	$304M	162
72	FIGR	$200M	$204M	70
73	snaptravel.com	$101M	$282M	158
74	PartnerStack	$2.4M	$400M	216

1. Hydrostor

It flexibly addresses bulk electricity system needs for dispatchable capacity, renewable integration and optimization, transmission deferral, and ancillary services, and is ideal for use in behind-the-meter or remote applications for mines and large industrial operations.

Founded in: 2010
Funding: $322M
Revenue: $113M/year
Number of employees: 48

2. Wrapbook

Run entertainment payroll, customize your production insurance, and cut through mountains of paperwork with Wrapbook, a powerful and easy to use platform for managing productions.

Founded in: 2018
Funding: $131M
Revenue: $155M/year
Number of employees: 114

3. Ledn Inc.

Canada's Bitcoin-backed Lender - Loans funded within 24 hours. HODL your Bitcoin securely & diversify your assets.

Founded in: 2018
Funding: $104M
Revenue: $97.2M/year
Number of employees: 69

4. Figment

Figment: Staking, middleware, and application layer solutions for investors and developers investing in and building on Web 3 technology.

Founded in: 2018
Funding: $165M
Revenue: $168M/year
Number of employees: 101

5. ContentFly

Get blog posts, social posts, email copy and more from world class writers. Request quality content for your business in a few clicks.

Founded in: 2018
Funding: $36.4M
Revenue: $227M/year
Number of employees: 135

6. Ada

AI Chatbot Software that exceeds customer expectations. Automated customer support platform built for humans. Easy to implement. Request a demo today!

Founded in: 2016
Funding: $190M
Revenue: $920M/year
Number of employees: 438

7. Cohere

Cohere is a creative agency committed to uniting stakeholders around shared goals in food, hospitality and real estate. We bring together projects that put people and the planet first through strategy, branding, environmental, and digital design.

Founded in: 2020
Funding: $56.1M
Revenue: $87.6M/year
Number of employees: 60

8. TRADE X

TRADE X offers dealers an interactive global automotive trading platform to connect buyers and sellers in an end-to-end trading network.

Founded in: 2018
Funding: $169M
Revenue: $98.4M/year
Number of employees: 65

9. Tenstorrent

At Tenstorrent, we build AI processors for machine learning workloads of today and tomorrow.

Founded in: 2016
Funding: $235M
Revenue: $770M/year
Number of employees: 146

10. Clearbanc

Now rebranded as Clearco. This company offers the most founder-friendly capital solutions for e-commerce businesses.

Founded in: 2015
Funding: $682M
Revenue: $1.23B/year
Number of employees: 620

11. 1Password

A password manager, digital vault, form filler and secure digital wallet. 1Password remembers all your passwords for you to help keep account information safe.

Founded in: 2005
Funding: $920M
Revenue: $1.65B/year
Number of employees: 529

12. ResQ

Based across two sites in the UK, we are a team of passionate individuals who really care about customer support, and each year, we have more than 8 million customer conversations on behalf of our clients.

Founded in: 2018
Funding: $46.5M
Revenue: $308M/year
Number of employees: 165

13. Clutch

It is an all-in-one shop for vehicles. You have various options such as financing and even having the vehicle delivered to your home.

Founded in: 2020
Funding: $103M
Revenue: $936M/year
Number of employees: 215

14. Orchard

Orchard is an creative agency that seeks to invent better outcomes that make a difference.

Founded in: 2013
Funding: $472M
Revenue: $796M/year
Number of employees: 121

15. TealBook

TealBook is a supplier data foundation that uses AI and ML to enable supply-side innovation and power your e-procurement tech stack.

Industry: Saas
Founded in: 2014
Funding: $73M
Revenue: $78M/year
Number of employees: 139

16. FreshBooks

The best cloud based small business accounting software. Send invoices, track time, manage receipts, expenses, and accept credit cards. Free 30-day trial.

Founded in: 2003
Funding: $206M
Revenue: $1.2B/year
Number of employees: 592

17. The Urban Writers

The Urban Writers is a writing service company. Looking for a ghostwriter? We provide written content in all forms. From eBooks to articles to SEO content. Need something written? We have the service for you. Focus on your business and let us focus on the writing.

Founded in: 2018
Revenue: $60M/year
Number of employees: 378

18. Alida

Fuse the voice of your customers and employees with Alida TXM so you can deliver extraordinary customer, employee, product, and brand experiences.

Founded in: 2022
Funding: $84.4M
Revenue: $986M/year
Number of employees: 449

19. Properly

Properly is your hassle-free partner to buy and sell homes in Canada.

Founded in: 2018
Funding: $126M
Revenue: $293M/year
Number of employees: 162

20. Public Inc.

Welcome to Public Inc. We’ve been helping companies thrive in a complicated, purpose-driven world since 2008.

Founded in: 2019
Funding: $309M
Revenue: $88.8M/year
Number of employees: 37

21. Coinchange

Turn your crypto into more crypto with Coinchange, an easy to use bridge into DeFi for everyone. Earn up to 20% returns on your crypto annually.

Founded in: 2017
Revenue: $140M/year
Number of employees: 177

22. Switch Health

Switch Health is a Toronto-based healthcare company dedicated to providing better decentralized patient care. Our goal is to bring care to you – wherever you are.

Founded in: 2017
Revenue: $2.12B/year
Number of employees: 700

23. Thentia

Thentia Cloud is a highly configurable, low-code government technology platform built for regulators, by regulators.

Founded in: 2014
Funding: $27.5M
Revenue: $160M/year
Number of employees: 92

24. Smile CDR

Built around the visionary HL7 FHIR standard and powered by HAPI, Smile CDR is the most proven FHIR implementation in the world.

Founded in: 2016
Revenue: $884M/year
Number of employees: 243

25. WEFX Inc.

The creation of scenes with a straightforward line to the director's creative visions is the expertise of this globally acclaimed company.

Number of employees: 103

26. MARZ

Monsters Aliens Robots Zombies (MARZ) is a Toronto-based VFX studio focusing on premium TV series. We deliver feature-film quality on TV timelines.

Founded in: 2018
Funding: $5.3M
Revenue: $614M/year
Number of employees: 227

27. Snapcommerce

A new way to shop that maximizes savings, benefits and rewards on mobile.

Founded in: 2016
Funding: $22.4M
Revenue: $28.8M/year
Number of employees: 168

28. Irwin

Find, engage and build relationships with the right investors at the right time so that you can focus on doing what you do best - building your business

Founded in: 2017
Revenue: $211M/year
Number of employees: 84

29. InvoZone

Here at InvoZone, we provide software development and consultation services to startups and SMEs. We help tech companies scale their engineering capacity. Get in touch today!

Founded in: 2014
Revenue: $617M/year
Number of employees: 339

30. Fluence Technologies

Leaders in cloud accounting and financial consolidation space, we provide the power and functionality owned and maintained by finance.

Founded in: 2019
Funding: $12.5M
Revenue: $101M/year
Number of employees: 64

31. PureFacts

A WealthTech100 Company, PureFacts provides global enterprise wealth management and asset management solutions.

Founded in: 2010
Funding: $52.4M
Revenue: $121M/year
Number of employees: 78

32. Flora Growth

Flora Growth is building a connected, design-led collective of plant-based wellness and lifestyle brands delivering the most desirable customer experiences.

Founded in: 2019
Funding: $44.5M
Revenue: $191M/year
Number of employees: 79

33. sherpa°

eVisas and travel requirements information for every step of your customer journey.

Founded in: 2015
Funding: $8.5M
Revenue: $91.2M/year
Number of employees: 68

34. GA Pizza

GA Pizza started its unique direct-to-consumer offerings in the Canadian market today—a frozen pizza subscription and sharing service.

Founded in: 2017
Funding: $13M
Revenue: $66M/year
Number of employees: 41

35. GAO Tek

GAOTek is a leading US supplier of test & measurement, test instruments and test meters for all industries including fiber optic, environmental test instruments, electronic and electrical test meters and more.

Founded in: 2005
Revenue: $2.37B/year
Number of employees: 487

36. Forma

Forma.ai is everything you ever wanted from your Automated Sales Compensation Management Software. Elevate your sales compensation team. Save millions.

Founded in: 2016
Funding: $13M
Revenue: $204M/year
Number of employees: 117

37. HiMama

HiMama is the all-in-one daycare app with parent messaging, daily reports, check in and more. It's childcare management made easy! Book your demo now.

Founded in: 2014
Funding: $23.9M
Revenue: $988M/year
Number of employees: 159

38. Epsilon Solutions, Ltd.

Epsilon solutions sells cloud and infrastructure, deployment, salesforce, mobile and web app development services.

Founded in: 2020
Revenue: $107M/year
Number of employees: 68

39. ChainSafe Systems

ChainSafe Systems - Blockchain research and development based in Toronto Canada

Founded in: 2017
Revenue: $143M/year
Number of employees: 82

40. KOHO

A no-fee spending account with instant cash back & money management app designed to simplify your personal finances. Sign up in minutes to join over 500,000 Canadians who use KOHO's prepaid Visa card to budget and save. Welcome to a new era of banking!

Founded in: 2014
Funding: $279M
Revenue: $409M/year
Number of employees: 244

41. Second Closet

Second Closet picks up and stores your stuff in Toronto and the GTA. We've made storage cheaper, faster, and easier than ever before.

Founded in: 2017
Funding: $123M
Revenue: $650M/year
Number of employees: 201

42. RCS Technologies

RCS Technologies is one of the leading providers of Higher Education Professional Certification Training, Test Preparation, Language Training, and other skill training for adults and kids in the field of IT, Management, Software Development, Project Management, Quality Assurance, etc.

Founded in: 2020
Revenue: $110M/year
Number of employees: 62

43. Field Trip Health

Learn more about how Field Trip Health uses evidence-based, legal psychedelic therapies to help you heal depression and feel better.

Founded in: 2019
Funding: $19.5M
Revenue: $634M/year
Number of employees: 182

44. The West Egg Group

A trusted workforce management company that offers strategic human resources, planning, and workforce solution services in the Greater Toronto Area

Founded in: 2013
Revenue: $144M/year
Number of employees: 65

45. iLobby

Global Leader in Enterprise Visitor Management. Easily track, manage and monitor who is in the building. Manage visitors, contractors, deliveries, and more.

Founded in: 2013
Funding: $100M
Revenue: $60M/year
Number of employees: 43

46. Accelerator

As a trusted name in healthcare, RLDatix offers integrated GRC software solutions and services to empower healthcare providers and payers.

Founded in: 1997
Revenue: $1.1B/year
Number of employees: 506

47. Opus One Solutions

Opus One Solutions offer a suite of interoperable software solutions purpose that is built for transmission, distribution, and market operators

Founded in: 2011
Funding: $7.1M
Revenue: $169M/year
Number of employees: 101

48. Notch Therapeutics

Notch Therapeutics designs and manufactures therapeutic T cells from pluripotent stem cells

Founded in: 2018
Funding: $86M
Revenue: $156M/year
Number of employees: 84

49. Xanadu

Quantum computational advantage available on Xanadu Cloud, sign up today for access to hardware, software, applications and educational resources!

Founded in: 2016
Funding: $45.6M
Revenue: $1.63B/year
Number of employees: 114

50. Open Farm

Every Open Farm recipe is designed to give your dog or cat exactly what they need and nothing more because we’re committed to raising the bar on the way we feed our pets, with even stricter quality than what we feed ourselves.

Founded in: 2014
Funding: $65M
Revenue: $192M/year
Number of employees: 68

51. BPTN

Connecting Black Professionals and Businesses to great opportunities

Founded in: 2018
Revenue: $588M/year
Number of employees: 66

52. Arteria AI

Arteria unlocks the power of your contracts by helping you to generate, negotiate and turn your executed contracts into data that allow you to diagnose problems, identify opportunities and drive value for your organization.

Founded in: 2020
Funding: $13.7M
Revenue: $50.4M/year

53. Inkblot Therapy

Inkblot uses advanced technologies for intelligent matching, monitoring effectiveness, and eliminating geographical barriers. At the same time, we maximize the human connection between care providers and clients.

Founded in: 2015
Funding: $1.4M
Revenue: $163M/year
Number of employees: 97

54. New Found Gold Corp.

The Company is engaged in the acquisition, exploration and evaluation of resource properties with a focus on gold properties located in the Provinces of Newfoundland and Labrador and Ontario, Canada.

Founded in: 2015
Funding: $108M
Revenue: $87.6M/year
Number of employees: 39

55. PathFactory

PathFactory™, the B2B Content Intelligence Platform removes friction from every stage of the customer lifecycle to accelerate revenue.

Founded in: 2012
Funding: $15M
Revenue: $178M/year
Number of employees: 102

56. jrvs

Jarvis Consulting Group is an IT consulting firm that offers skill-building and enhancement to provide staffing solutions by connecting talent with employers.

Founded in: 2016
Revenue: $214M/year
Number of employees: 123

57. Trufan

Surf for Brands allows you to generate the highest quality first party data, with consumer opt-in options. Generate ethical, high quality data now - Learn more

Founded in: 2018
Funding: $5.2M
Revenue: $133M/year
Number of employees: 61

58. AlayaCare

AlayaCare is a revolutionary cloud-based home care software platform for agencies looking for innovation and efficiencies across the entire agency.

Founded in: 2014
Funding: $293M
Revenue: $1.2B/year
Number of employees: 580

59. Foxquilt

Foxquilt is an insurance technology company focused on empowering small businesses and B2B networks to save on small business insurance.

Founded in: 2016
Funding: $11.5M
Revenue: $39.6M/year
Number of employees: 51

60. JLL

JLL has been providing commercial real estate services in Canada since 2000, and is the fastest-growing commercial real estate firm in the country with over 1,500 employees located in nine corporate offices across the country in Toronto, Montréal, Ottawa, Edmonton, Calgary and Vancouver.

Founded in: 2000
Revenue: $414M/year
Number of employees: 209

61. Buckzy Payments Inc.

Buckzy Payments provides a real time cross border payments network for financial companies worldwide to transfer money quickly and securely.

Founded in: 2018
Funding: $9M
Revenue: $90M/year
Number of employees: 66

62. Judo

Judo brings server-driven UI to your iOS and Android apps.

Founded in: 2015
Funding: $3M
Revenue: $22.8M/year
Number of employees: 26

63. Diversio

The World’s First AI-based DEI Platform. Capture data, get recommendations, benchmark, attract talent, make an impact.

Founded in: 2018
Funding: $6.5M
Revenue: $69.6M/year
Number of employees: 60

64. Université de l'Ontario français

The Université de l'Ontario français is a French-language public university in Toronto, Ontario, Canada. The university campus is situated in the East Bayfront neighbourhood of downtown Toronto, near the Toronto waterfront.

Founded in: 2018
Funding: $126M
Revenue: $167M/year
Number of employees: 77

65. Sterling Capital Brokers Ltd.

SCB offers its clients comprehensive benefit consulting and customized plan management technology services which provide rapid and bespoke solutions to its client base.

Founded in: 2014
Revenue: $241M/year
Number of employees: 80

66. Adeptmind

AdeptMind is a SaaS AI/ML company that innovates in Shopping Center Marketplaces and eCommerce Product Discovery.

Founded in: 2017
Funding: $6.2M
Revenue: $60M/year
Number of employees: 43

67. BenchSci

BenchSci is the world leader in AI-Assisted Reagent Selection and Experiment Design. Our preclinical R&D SaaS platform uses machine learning to help pharmaceutical companies increase their research velocity.

Founded in: 2015
Funding: $94.5M
Revenue: $547M/year
Number of employees: 294

68. Vault Credit

Vault Credit makes financing simpler than ever. This company serves small to medium businesses all across Canada and cater to a wide spectrum of credit tiers.

Founded in: 2018
Revenue: $161M/year
Number of employees: 71

69. iScope

Canada’s only national interdisciplinary rehabilitation clinic treating the physical, cognitive, emotional & sleep symptoms of neurological injury, concussion & chronic pain.

Founded in: 2001
Revenue: $127M/year
Number of employees: 49

70. Maple Tech Space

We are a team of Digital Creators expertise in SEO, Digital and Social Media Marketing, Website Development, Application Development, IT consulting and Branding.

Founded in: 2020
Revenue: $39.6M/year
Number of employees: 51

71. eSSENTIAL Accessibility

eSSENTIAL Accessibility helps organizations create inclusive web, mobile, and product experiences through digital accessibility testing, evaluation and remediation.

Founded in: 2008
Funding: $86.4M
Revenue: $304M/year
Number of employees: 162

72. FIGR

View our virtual grow room, or learn about your products journey to you using the Budtender App. Our Figr Cannabis Cartridges, Oils and Flowers are available for sale in Canada.

Founded in: 2017
Funding: $200M
Revenue: $204M/year
Number of employees: 70

73. snaptravel.com

Snaptravel is an online travel company that provides hotel booking services over SMS and messenger.

Founded in: 2016
Funding: $101M
Revenue: $282M/year
Number of employees: 158

74. PartnerStack

PartnerStack is the only partner management platform specialized in B2B SaaS with a built-in marketplace and payment automation system to help you recruit the right partners, so you and your partners can excel.

Founded in: 2015
Funding: $2.4M
Revenue: $400M/year
Number of employees: 216

meet the author

Pat Walls

I'm Pat Walls and I created Starter Story - a website dedicated to helping people start businesses. We interview entrepreneurs from around the world about how they started and grew their businesses.

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