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List of the largest SaaS companies in Waterloo, Canada

Top SaaS Companies in Waterloo

These are the top SaaS companies in Waterloo, Canada. In todays day and age its possible to launch a company from anywhere. We wanted to show some love for Waterloo by featuring these 32 companies with combined revenues of $464.3M.

Together, Waterloo SaaS companies employ over 2K employees, have raised $531.4M capital, and serve over 62K customers around the world.

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Highlights

Top SaaS Companies with $5 - $10M ARR


02
C
Cylance

Security Software

Developer of security software and services. The company provides services and products to solve the most difficult security challenges.

$51M
$297M
4K
370
2012
Canada
03
A
Axonify

Talent Management Software

Axonify is the world’s first Employee Knowledge Platform. Pushing beyond the boundaries of eLearning, it combines an award-winning approach to microlearning, with innovative knowledge-on-demand capabilities to ensure employees do the right things right...

$17M
$27M
160
192
2011
Canada
04
AN
Auvik Networks

Monitoring Software

Auvik’s cloud-based software simplifies and automates network monitoring and management for IT managed service providers. Auvik gives MSPs better visibility, documentation, and monitoring for their client networks, and automates many time-consuming network tasks. With Auvik, MSPs have an efficient and profitable way to manage their client networks. Visit www.auvik.com or follow @AuvikNetworks on Twitter. Auvik is a registered trademark of Auvik Networks Inc.

$16M
$89M
45K
175
2011
Canada
05
DL
Dejero Labs

Information Technology Software

Developer of a cloud-based platform designed to provide connectivity required for cloud computing, online collaboration, and the secure exchange of video and data. The company's solutions include routers, network blending software, and connectivity services that simplify procurement and management of data, transports live and recorded video from a camera, reconstruct a stream into packets and send over multiple connections, like cellular, ethernet, and satellite, to go live to multiple platforms from anywhere, and share live feeds simultaneously, enabling clients to view live coverage and event broadcasting from remote locations.

$10M
$99M
-
147
2008
Canada
06
TN
TextNow

Communication Software

Developer of a cloud-based phone carrier services designed to connect the world by creating the exceptional and affordable phone service. The company's phone carrier services offer low-cost, international calling to over 230 countries and include unlimited texting, calling, and data services, enabling users to stay connected while travelling the world.

$8M
$1M
-
160
2009
Canada
07
AS
Athena Software

Software As A Service Platform(Saas)

Developer of a comprehensive web-based case management software application designed to reduce paperwork, increase staff efficiency and streamline reporting. The company develops a mobile and fully integrated client information and practice management system designed for a broad range of social service providers, including victims service organizations, mental and behavioral health providers, counseling services, disability support and domestic violence organizations enabling enterprises to reduce paperwork, increase staff efficiency and streamline reporting activities.

$7M
-
-
91
2001
Canada
08
WMSS
Waterloo Managed Software Services

Erp Software

Provider of managed cloud hosting services to business entities. The company's services include public-cloud and private-cloud infrastructure along with cloud strategy, cloud readiness and roadmap creation for handling patches, hot-fix and database management and on-demand updates, enabling clients to eliminate information technology capital and reduce operating expenses while also reducing the risk of business interruption.

$4M
-
-
55
2006
United States
09
M
Mappedin

Analytics Software

Provider of a digital map software platform that powers search and discovery indoors. The company's software platform provides industry-leading tools for REITs and retailers to manage their dynamic indoor information and build digital wayfinding experiences into customer-facing applications.

$4M
$7M
-
54
2011
Canada
10
DE
DigitalEd

Education Software

Developer of online education technology designed to offer interactive cources including automated testing and assessment. The company's platform offers a multi-channel approach to learning, going beyond the simple digitization of courseware, ensuring dynamic, interactive experiences for the student by providing multiple delivery options for the educator, enabling users to make learning better for everyone by modularizing delivery of learning.

$4M
$7M
-
47
2018
Canada
1 - 10 of 32Next

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.