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List of the largest SaaS companies in Toronto, Canada

Top SaaS Companies in Toronto

These are the top SaaS companies in Toronto, Canada. In todays day and age its possible to launch a company from anywhere. We wanted to show some love for Toronto by featuring these 358 companies with combined revenues of $7.4B.

Together, Toronto SaaS companies employ over 46K employees, have raised $3.5B capital, and serve over 517M customers around the world.

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Highlights

02
GT
GlobalTrade

Development Software

GlobalTrade Corporation (GTC) is a software design, development and implementation company. It has established a reputation as a leading provider of innovative multi-bank trade finance solutions for corporattions and financial institutions. GTC’s te...

$5M
-
-
51
2000
Canada
03
R
Risevision

CRM and Related Software

Rise Vision helps organizations save time and communicate better with digital signage

$5M
-
6K
35
1992
United States
04
PF
PathFactory

Content Marketing Software

PathFactory removes friction from every stage of the customer lifecycle, helping marketers deliver a better customer experience and accelerate revenue.

$5M
$15M
-
51
2012
Canada
05
H
Hubba

E-Commerce Software

Hubba is a computer software company in the retail technology space.

$5M
$61M
-
46
2011
Canada
06
DS
Destiny Solutions

Education Software

Developer of SaaS-based student lifecycle management software designed to manage continuing education and non-degree programs. The company's software manages continuing education and non-degree programs for students who do not fit the traditional definition of a young adult pursuing a full-time degree program, enabling the higher education institutions to increase enrollment and reduce administrative costs by providing operational and financial insight and manage the programs more effectively and efficiently.

$5M
-
-
91
1995
Canada
07
RO
RewardOps

Information Technology Software

Developer of an API-based Software as a Service (SaaS) platform intended to make it easy to build, track and streamline rewards programs. The company's platform provides rewards programs the cost transparency, real-time data and flexibility they need to support the evolution of their programs, enabling them to work with clients to integrate into existing reward platforms or build new turnkey programs.

$4M
-
-
53
2013
Canada
08
TR
Think Research

Healthcare Software

Provider of a cloud-based health care platform designed to offer a one stop shop for all possible health care needs. The company's platform offers knowledge-based tools, enabling clinicians to deliver evidence-based care to patients.

$4M
$71M
3M
177
2006
Canada
09
E
Edisoft

Supply Chain & Logistics Software

Edisoft Inc. | Supply Chain Order and Shipment Optimization | Integration Connectors: ERP, eCommerce, and more! | One Vendor: EDI & Warehousing

$4M
-
-
45
1995
Canada
10
n
nanopay

Financial Services Software

Provider of an online payment management software. The company provides a web-based payment services software which integrates loyalty, electronic receipts and coupons with its payment services. Consumers use a smartphone application to pay, collect rewards, receive electronic receipts and use coupons without risking identity theft through the company's platform.

$4M
$10M
-
45
2012
Canada
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What are the fastest growing companies doing?


83 of the fastest growing companies that also have the most revenue have a clear expansion revenue strategy. On average, sales reps are selling plans where starting contract value is $4,606.

Those same companies employ 1,678 sales reps that carry a quota. The most common compensation plan used by these companies is a 1:5 ratio of sales rep on target earnings (OTE) to quota. Meaning if a rep can earn $200k in base and commissions, quota target for that year is set at 5x, or $1m in new ARR closed.

If you’re going to build a high growth SaaS company, you need to figure out how to scale with quota carrying sales reps.

Which CEO’s are the most efficient capital allocators?


We can measure this a variety of ways. Which company has the most revenue per employee? What about dollars in revenue compared to dollars raised? What about time, which founder went from $0 to $10m the fastest?

Looking deeper at dollars in revenue compared to dollars raised, bootstrappers take the cake because they self fund (denominator zero). When we look at companies that have raised at least $1m, Actito is the clear winner generating $21m in revenue, growing 100% yoy, on just 1m raised ($.05 dollars raised for every $1 of revenue).

Omnisend comes in a close second with $.08 dollars raised for every dollar of revenue. Doing $19m as of December 2020. Proposify gets honorable mention with $0.46 dollars raised (3.25m) for every dollar of revenue ($7m).

The worst performers here are companies like YayPay with $3.68 dollars raised ($14m) per dollar of revenue ($3.8m). Many of the worst performers just did a round of funding and haven’t had a chance to deploy to drive growth yet. That makes this data less valuable but still illustrative.