Top SaaS Companies in Waterloo

List of the largest SaaS companies in Waterloo, Canada (Click to apply)

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 25 companies with combined revenues of $449.1M.

Together, Waterloo SaaS companies employ over 2K employees, have raised $0.0 capital, and serve over 17K customers around the world.

$0 - $1M ARR
  1. Maluuba $731.5K
  2. Lumaki Labs $688.4K
  3. BeBlended $655.9K
  4. Kiite $468.7K
$5M - $10M ARR
$10M+ ARR
  1. Cylance $51.0M
  2. Axonify $17.3M
  1. 01
    Descartes-Systems Group

    Descartes-Systems Group

    Distribution Software

    The Descartes Systems Group Inc. Descartes is perhaps best known for its abrupt and unexpected turnaround in the mid-2000s after coming close to bankruptcy in the wake of the dot-com bubble collapse.

    $326M

    13K

    1K

    1981

    Waterloo

  2. 02
    Cylance

    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

    Waterloo

  3. 03
    Axonify

    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

    192

    2011

    Waterloo

  4. 04
    Auvik Networks

    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 netwo

    $16M

    $89M

    175

    2011

    Waterloo

  5. 05
    Dejero Labs

    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 service

    $10M

    $99M

    147

    2008

    Waterloo

  6. 06
    Waterloo Managed Software Services

    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 managem

    $4M

    55

    2006

    Waterloo

  7. 07
    Mappedin

    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 experience

    $4M

    $7M

    54

    2011

    Waterloo

  8. 08
    DigitalEd

    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 dyna

    $4M

    $7M

    47

    2018

    Waterloo

  9. 09
    Aspire IT Services

    Aspire IT Services

    Business Management Software

    Provider of quality management and payroll services. The company offers soft services for enterprise resource management, logistics, recruitment, manufacturing and automobile industries.

    $3M

    39

    2008

    Waterloo

  10. 10
    Tauri

    Tauri

    Information Technology Software

    Developer of a cloud based cyber security platform designed to provide effective and secure services to business across all places. The company's cyber security platform stores and safeguards confidential and classified information from threats and enables

    $3M

    $4M

    48

    2015

    Waterloo

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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.