Each year, Deloitte releases a list of the 50 fastest-growing Canadian companies as a way to mark the significant growth of the sector.
This year, Vanrx Pharmasystems ranked number one, posting a four-year growth rate of 19,342 per cent. Vanrx is a Burnaby-based pharmaceutical company that helps bring dug products to market faster through a specialized filling machine.
Deloitte has been listing companies in the Fast 50 for two decades, and over the past few years, the list has been a great indicator as to just how quickly the Canadian technology industry has grown. Many companies on the list are now global presences and sit at the top of their fields.
Coming in at number two is Mojio, a Vancouver-based connected car company that works with some of the largest companies in the world to bring their tech to market. Mojio posted a four-year growth rate of 11,950 per cent.
“This recognition from Deloitte is especially meaningful to our team, as it uniquely pairs our global growth with our Canadian roots in Vancouver, where we continue to invest in our people and innovation,” said Mojio CEO Kenny Hawk. “With more than a billion unconnected cars on roads around the world, the market potential for our solutions is massive. We’re looking forward to continuing this growth—both in Canada and abroad—as we continue to unlock new revenue streams across the automotive value chain and shape the future of mobility with our partners and customers around the world.”
Rounding out the top three is COLO-D, a Drummondville, Quebec company that posted a growth rate of 10,942 per cent. COLO-D designs and builds advanced data centres.
Looking at last year’s Fast 50, the 2017 first-place recipient Diply fell to 26 this year, while second-place Prodigy Game landed in eighth place for 2018.
Overall, 2018’s Fast 50 includes some of the most notable tech companies in Canada, including Bench, Wave, Vidyard, TouchBistro, Kinova and Top Hat. Take a look at the top 25 below (with their location and four-year growth rate) or read the full list here.
1) Vanrx Pharmasystems, Burnaby BC 19,342 per cent.
2) Mojio, Vancouver BC 11,950 per cent.
3) COLO-D, Drummondville QC 10,942 per cent.
4) LANDR Audio Inc., Montréal QC 9,875 per cent.
5) SkipTheDishes, Winnipeg MB 5,599 per cent.
6) Cluep, Toronto ON 4,460 per cent.
7) Bench Accounting, Vancouver BC 4,373 per cent.
8) Prodigy Game, Burlington ON 2,387 per cent.
9) LowestRates.ca, Toronto ON 1,859 per cent.
10) Rumble Toronto ON 1,757 per cent.
11) TrackTik, Montréal QC 1,725 per cent.
12) Wave, Toronto ON 1,647 per cent.
13) Influitive, Toronto ON 1,523 per cent.
14) Dialekta, Montréal QC 1,444 per cent.
15) VOTI, Detection Saint-Laurent QC 1,299 per cent.
16) Left, Maple Ridge BC 1,242 per cent.
17) Vidyard, Kitchener ON 1,198 per cent.
18) Race Roster, London ON 1,191 per cent.
19) PathFactory, Toronto ON 1,161 per cent.
20) Foodee, Vancouver BC 1,145 per cent.
21) FixMeStick Technologies Inc., Montréal QC 1,132 per cent.
22) Strawhouse Inc., Kelowna BC 1,125 per cent.
23) Refresh Financial, Kelowna BC 934 per cent.
24) TouchBistro Inc., Toronto ON 928 per cent.
25) District M, Montréal QC 926 per cent.
“When we launched Wave in 2010, we were confident that there was a massive opportunity to provide entrepreneurs and small business owners with financial solutions embedded into their everyday software that would make it easier to run their business effectively,” said Kirk Simpson, CEO and co-founder of Wave. The Toronto-based Wave is the only company to make it in the top-20 for the past three years.
“Wave’s sustained growth validates that hypothesis, and is proof that the Wave team is executing incredibly effectively. I’m unbelievably proud of the team and what they do every day to serve small business owners.”