With the technology sector being one of the fastest growing markets in the world, different companies are consistently searching for their next big break. This could be in the form of a new product, a unique service, or simply a level of customer support that outshines the competition. In this article, we take a look at the top 10 innovative tech companies in Canada.
Let’s start this list with a business that has changed the world of eCommerce forever. With headquarters located in Ottawa, Shopify is the largest tech company in Canada. The market valuation of Shopify currently sits at 38.40 billion, and with good reason.
This company was the first real turnkey eCommerce solution for business owners, with different packages to match specific selling rates and budgets. Shopify was founded in 2006 by a trio of entrepreneurs, Tobias Lütke, Daniel Weinand, and Scott Lake. In 2023, there are over 2 million people that are actively using Shopify on a daily basis. Shopify has had a major impact on the e-commerce market and can be considered to be one of the game-changing tech compasnies of the past decade.
It’s no secret that Cryptocurrency has been one of the largest opportunities within the tech sector this century. One business that has capitalized on this breakout trend, is Webisoft. Based in Montreal, they offer blockchain development services to businesses, with virtually no limits put on their capability.
The company has a team of full-stack developers who are available to help with dApps (decentralised apps), smart contracts, NFTs, and more. Webisoft also has team members that are specialized in different types of code, including Python and Web3.
Vidyard is a tech giant that assists with remote selling. They offer a range of comprehensive video tools, alongside a free chrome extension. These videos are then attached to emails to help boost conversion rates, click-through rates, and overall, just build better connections with each potential client.
While this may sound basic, Vidyard has optimized its service using some innovative features, such as the ability to prioritize different leads and keep track of various campaigns through the back end of the software itself. These tools alone can help the sales team to stay on track, potentially increasing conversion rates as a result.
4. Constellation Software
Constellation has been within this industry for a very long time. Founded in 1996, the company has diversified over the years to offer a host of different software solutions, to a select group of clients. They own a diverse portfolio of companies in various sectors, including Harris Computer and Vela Software.
Furthermore, Constellation is consistently on the lookout for new acquisitions, with the company claiming that they are always open to negotiation, should a growing business present the opportunity. Maybe it is that approach that has given the business consistent growth of 28.65% and 27.89% in the financial years of 2020-2023 and 2023-2022, respectively.
5. Aeryon Labs
Aeryon Labs is a business known for providing unmanned aerial vehicles, with its particular focus being on drones. This equipment is provided to the military but can also help with public safety and industrial operations.
One of their most popular drones is the Black Hornet PRS, which can help to detect threats and save lives as a result. It is lightweight, makes virtually no sound at all when flying, and can be used for 25 minutes straight. Aeryon Labs are constantly innovating and adapting its range of products to improve its performance wherever possible.
With a brave mission statement, OpenText is creating innovative technology solutions that they strongly believe are the future of business or more specifically, information management. They provide the opportunity for cross-collaborations within a workplace, cloud hosting, networking tools, and more. OpenText is also preparing itself and its customers to excel in the age of the metaverse.
7. mCloud Technologies
Based in Calgary, mCloud is a Canadian asset management company, focusing on the energy sector. They use AI to manage and improve the efficiency of buildings, processes, and other industrial areas. The main goal of mCloud is to help businesses reduce energy waste, while also decreasing costs and improving levels of productivity.
Webisoft isn’t the only company on this list that is involved with Cryptocurrency. Bitbuy is an online exchange that allows Canadian citizens to purchase different types of digital assets, including Bitcoin, Ethereum, and Cardano.
They are known for offering superb levels of support to their customers, which is perhaps the main reason that they stand out from the sea of other crypto exchanges. Bitbuy was established in 2016 and offers some of the lowest fees associated with any cryptocurrency exchange in Canada!
Previously known as Thalmic Labs, North was created with the ambitious goal of helping technology become an invisible, but valuable part of daily life. Their most recent product launch comes after being acquired by Google, which has allowed them to greatly fast-track the process. Their new project is known as Focals and revolves around smart glasses with built-in retinal projection.
Simply put, an image is projected directly into the eyes of the wearer, which can help to overcome some of the common problems faced with standard alternatives. Perhaps the main advantage of this technology is the ability for optical correction to be completed almost immediately, without the need for a new pair of glasses. While completion is still an optimistic goal, North has made serious progress with their Focals range.
The final mention on our list, Certn, is a company that uses tech in order to perform background checks in just a few minutes. They claim that their services are essential due to hiring becoming more and more competitive around the world. The business is a leader in the people intelligence sector but can also help to perform consistent risk monitoring for employees and clients alike.
That concludes our list of the top 10 innovative tech companies in Canada. As there is no sign of the sector cooling off any time soon, it’s likely that more companies will break out over the upcoming few years. Keep an eye out for more Canadian companies, as this appears to be one of the hotspots of the world for technology.
Tech companies from Canada and USA are on the forefront of innovative technology at the moment, but in an ever-evolving industry, a successful concept or product must keep up with times, understand what the consumer wants and look at what the competition is doing. In a recent blog post from PartyCasino, they have published a top 10 list with some of the biggest and innovative tech companies that failed to do this, in the last 2 decades.