Top Tech Startups in Toronto
There are more people who live in Toronto than in any other city in Canada. With over 2.7 million citizens, it provides many opportunities to those who are looking for a fantastic career or to invest. In fact, there are a number of tech startups in Toronto that are well worth keeping on the radar. Here are the top 5 tech startups, and they are gaining steam quickly.
WealthSimple – As a $5 million dollar startup, they are at or near the top of the list for tech startups. They got their start with only $2 million worth of seed money and within a couple of years, they have grown substantially. Since their smaller beginnings, a number of investors have come on board and have brought in over $80 million.
Nymi – This is another company that is well worth considering. They offer ID wristbands that are based on your heartbeat. This technology is up and coming and it can be used for a wide variety of purposes, including computer login and giving access to employees.
One of the great things about Nymi is that they are profitable. Currently, they are bringing in over $5 million on an annual basis and have about 50 people working for them. This wristband may be simply looking but the power behind it is amazing.
Ecobee – This tech startup has hit the mainstream and is poised to move into homes, adding automation with their line of smart products. The funding for Ecobee has been over $50 million and they have been around for only a decade. One investor was unidentified but put up almost $3 million.
Wattpad – The Wattpad app was very popular when it was released in 2006, long before many of the other apps that existed during that time. Since the release of their free app over a decade ago, this company has grown significantly. They have more than 10 billion engagement minutes each month and have brought in funding from some of the biggest names in the business. They are still going strong and growing.
FreshBooks – When you look at all of the different tech startups in Toronto, you begin to see a common theme. One of the areas that they all seem to touch on regularly is accounting for small business. This cloud-based started up on the same page and it helps with many different areas of accounting, from processing credit cards to time management and invoicing. This company is more than up and coming. They have an annual revenue of around $10 million, which isn’t too bad for a company that got its start in 2003.
These are just scratching the surface for all of the different tech startups that exist in Toronto. Although these lead the list, there are many others that are worth keeping your eye on as well. These Toronto tech startups provide a great opportunity to do some investing and if you are looking for a place to land, they make it possible. Take a look at all Toronto has to offer. There are many more tech companies to see.