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List of the largest SaaS companies in Canada

Top SaaS Companies in Canada

These are the top SaaS companies in Canada. In todays day and age its possible to launch a company from anywhere. We wanted to show some love for Canada by featuring these 1,579 companies with combined revenues of $13.2B.

Together, Canada SaaS companies employ over 111K employees, have raised $12.6B capital, and serve over 3B customers around the world.

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Highlights

02
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
03
HR
HighRoads

Information Technology & Services

Provider of health plan product management services intended to offer healthcare compliance and insurance to the people. The company's services offer a human resource information management system and a technology enabled service that centralizes human resource content into a single managed repository to automate the human resource supplier management process, enabling clients to promote product customization at the point of sale at on-demand prices.

$10M
$43M
-
118
1999
Canada
04
N
Nureva

Computer Software

Developer of cloud based canvases and advanced conferencing platform designed to provide faster and easier collaboration processes. The company's platform provides various visual collaboration products along with various audio conferencing products, enabling clients to develop their teams or workforce to accelerate development of the company's progress.

$10M
-
-
117
2014
Canada
05
U
Upchain

Computer Software

Developer of a cloud PLM solution designed to collaborate decentralized product value chain. The company's solutions offer item management, version control, change management, bills of materials management, file compliance and CAD integration, enabling manufacturers who operate in complex value chains to increase revenues, reduce costs and increase quality.

$10M
-
-
117
2015
Canada
06
j
jane.app

Healthcare Software

Developer of a medical practice management software designed for online booking, charting and scheduling. The company's medical practice management software makes easy for patients to visit, manage and schedule their visits, while also helping medical practitioners fill their schedules efficiently, enabling health clinics to improve customer satisfaction and streamline operations.

$10M
-
-
116
2011
Canada
07
V
Vidyard

Office Software

Vidyard is a software company headquartered in Kitchener, Canada that creates software to host and analyze video performance.

$10M
$76M
1K
132
2011
Canada
08
R
Redbrick

Office Software

International Business Machines Corporation is an American multinational information technology company headquartered in Armonk, New York, United States, with operations in over 170 countries.

$10M
-
10K
62
2011
Canada
09
S
Solium

Financial Services Software

Solium Capital was a financial services company that used to provide cloud-enabled services for global equity administration, financial reporting and compliance. It specialized in stock option administration, restricted stock administration, ESPP administration, ESOP plans, equity compensation, share purchase plans, profit sharing and expense accounting as well. The company was founded in 1999 and was headquartered in Calgary, Canada.

$10M
-
-
162
1999
Canada
10
JS
Jobutrax Services

Software as a Service Platform(SaaS)

Developer of software products for the energy industry. The company offers a software-as-a-service (SaaS) platform enabling oilfield services personnel to create field tickets using their electronic devices.

$9M
-
500
112
2011
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.