Top SaaS Companies in Ontario

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

These are the top SaaS companies in Ontario, Canada. In todays day and age its possible to launch a company from anywhere. We wanted to show some love for Ontario by featuring these 479 companies with combined revenues of $5.8B.

Together, Ontario SaaS companies employ over 26K employees, have raised $410.5M capital, and serve over 433M customers around the world.

$0 - $1M ARR
  1. MedStack $1.0M
  2. GrubX $980.0K
  3. Autoklose $972.0K
$1M - $5M ARR
  1. RewardOps $4.3M
  2. Mappedin $4.2M
  3. DigitalEd $4.1M
$5M - $10M ARR
  1. Voices.com $10.0M
  2. 1Password $9.1M
  3. Roadmunk $8.0M
$10M+ ARR
  1. Kinaxis $224.2M
  2. LoyaltyOne $201.6M
  3. Freshbooks $55.0M
  1. 01
    Constellation Software

    Constellation Software

    Enterprise Software

    Constellation Software is a provider of software and services. It serves both in the public and private sectors. It was founded in 1995 and is headquartered in Toronto, Canada. The company acquires, manages and builds industry specific software businesses

    $4B

    $49M

    125K

    243

    1997

    Ontario

  2. 02
    Kinaxis

    Kinaxis

    Supply Chain & Logistics Software

    Kinaxis Inc is a Canada-based provider of software solutions for sales and operations planning (S&OP) and supply chain management. The firm's flagship RapidResponse product is offered on the cloud. Its capabilities include consequence evaluation and alerti

    $224M

    $33M

    0

    1K

    1984

    Ontario

  3. 03
    LoyaltyOne

    LoyaltyOne

    Advertising Software

    LoyaltyOne, Inc. is a global provider of loyalty marketing and programs to enterprises in the retail, financial services

    $202M

    1K

    3K

    1991

    Ontario

  4. 04
    Venasolutions

    Venasolutions

    Erp Software

    With powerful and intuitive FP&A software, Vena redefines how companies manage their budgeting, planning and revenue forecasting.

    $60M

    $476M

    900

    450

    2011

    Ontario

  5. 05
    Freshbooks

    Freshbooks

    Erp Software

    The best cloud based small business accounting software. Send invoices, track time, manage receipts, expenses, and accept credit cards. Free 30-day trial.

    $55M

    $77M

    305K

    429

    2004

    Ontario

  6. 06
    Sigma Systems

    Sigma Systems

    Telecommunications

    Developer of idea-to-install products for communication, media and high tech companies. The company provides a software product portfolio which is available through the cloud or on-premise. The company's product portfolio covers cloud brokerage, product &

    $55M

    190M

    282

    1996

    Ontario

  7. 07
    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

    Ontario

  8. 08
    Maropost

    Maropost

    CRM and Related Software

    Maropost makes powerful, easy-to-use, enterprise-grade software solutions to help you scale your sales and marketing while staying lean.

    $45M

    380

    172

    2011

    Ontario

  9. 09
    Q4

    Q4

    CRM and Related Software

    Q4 is a SaaS platform that provides advanced communication and intelligence solutions to investor relations officers and the C-suite of public companies. With the goal of improving the effectiveness of investor relations through innovative, forward-thinkin

    $39M

    $65M

    225M

    435

    2006

    Ontario

  10. 10
    Assent Compliance

    Assent Compliance

    Procurement Software

    Assent specializes in IT solutions that help organizations with their compliance strategies. These solutions are developed and executed through an open dialog between their clients, environmental consultants, their IT developers and their operations depart

    $39M

    $185M

    0

    440

    2010

    Ontario

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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.