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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

12
LHQ
Lightspeed-HQ

E-Commerce Software

Lightspeed is a point-of-sale and e-commerce software provider based in Montreal, Quebec.

$121M
$292M
77K
1K
2005
Canada
13
M
Monetizemore

Digital Advertising Platforms

MonetizeMore provides ad tech to huge ad monetized publishers (AKA. AdSense Publishers). This includes auction tech, a business intelligence platform, ad inventory diagnostic tools and machine learning driven bot detection & suppression tech.

$120M
-
300
160
2010
Canada
14
1P
1Password

Security Software

Developer of password management software designed to save and remember passwords. The company's platform allows users to maintain strong credentials, manage access to services and report on usage and also provides private, secure and user-friendly password management, thereby helping businesses prevent breaches and reclaim time spent guessing or resetting passwords.

$120M
$920M
90K
472
2005
Canada
15
AS
Absolute Software

Computer & Network Security

Absolute Software is a provider of software services. The company develops software for the security and management of computers, laptops and ultra-portable devices. It was founded in 1993 and is headquartered in Vancouver, Canada. The company seeks to expand its business operations through mergers and acquisitions.

$112M
-
10K
611
1993
Canada
16
SS
Syntax Systems

Erp Software

Syntax Systems is a provider of technology services for businesses in North America. The company offers enterprise resources planning software, infrastructure and cloud-based services to its customers. It was founded in 1972 and is headquartered in Montreal, Canada.

$108M
-
-
1K
1972
Canada
17
M
Moj

Iot Software

Give Every Vehicle A Voice

$102M
-
850K
78
2012
Canada
18
C
Clio

Legal Software

Clio is a legal technology company headquartered in Burnaby, British Columbia.

$100M
$276M
70
251
2007
Canada
19
T
Trulioo

Financial Services Software

Digital Identity.

$100M
$565M
450
341
2011
Canada
20
VC
Vision-Critical

Analytics Software

Vision Critical provides a cloud-based customer intelligence platform that allows companies to build engaged, secure communities of customers.

$100M
$39M
100K
213
2000
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.