In Toronto, many creative startups are changing different industries. This list shares the top 7 unicorns in Toronto, each worth more than $1 billion. These leading companies are changing areas like, fintech, e-commerce, AI, etc, making Toronto a center of innovation. Learn about the amazing companies that call Toronto home.
List of Top 7 Unicorns in Toronto
1. 1Password
A Canadian password manager and identity protection software company that provides secure password storage and autofill.
Company Details:
- Country: Canada
- Valuation: $6.80B
- Industry: Cybersecurity
- Founded Year: 2005
- Total Funding Raised: $920.14M
- Joined Unicorn Club: 7/8/2021
- Key Investors: Slack Fund, Accel, Skip Capital
- Total Investors: 30
- Total Funding Deals: 2
- Website: https://1password.com/
2. Clearco
A Canadian fintech company that provides funding solutions and services for businesses.
Company Details:
- Country: Canada
- Valuation: $2B
- Industry: Fintech
- Founded Year: 2015
- Total Funding Raised: $935.01M
- Joined Unicorn Club: 4/20/2021
- Key Investors: Highland Capital Partners, Oak HC/FT Partners, Emergence Capital Partners
- Total Investors: 23
- Total Funding Deals: 1
- Website: https://clear.co/
3. Figment
A Canadian blockchain infrastructure company that provides blockchain infrastructure solutions and services for businesses.
Company Details:
- Country: Canada
- Valuation: $1.40B
- Industry: Internet software & services
- Founded Year: 2018
- Total Funding Raised: $163.84M
- Joined Unicorn Club: 12/20/2021
- Key Investors: Bonfire Ventures, Two Sigma Ventures, FJ Labs
- Total Investors: 24
- Total Funding Deals: 2
- Website: https://figment.io/
4. Ada Support
A Canadian artificial intelligence software company that provides AI solutions and services for businesses.
Company Details:
- Country: Canada
- Valuation: $1.20B
- Industry: Artificial intelligence
- Founded Year: 2016
- Total Funding Raised: $190.73M
- Joined Unicorn Club: 5/7/2021
- Key Investors: Version One Ventures, Bessemer Venture Partners, FirstMark Capital
- Total Investors: 11
- Total Funding Deals: 1
- Website: https://www.ada.support/
5. Xanadu
A Canadian quantum computing and technology company that provides quantum computing solutions and services for businesses.
Company Details:
- Country: Canada
- Valuation: $1.00 B
- Industry: Hardware
- Founded Year: –
- Total Funding Raised: –
- Joined Unicorn Club: 11/9/2022
- Key Investors: BDC Capital, Georgian, Bessemer Venture Partners
- Total Investors: –
- Total Funding Deals: –
- Website: https://www.xanadu.ai/
6. Freshbooks
A Canadian cloud-based accounting software company that provides accounting solutions and services for businesses.
Company Details:
- Country: Canada
- Valuation: $1B
- Industry: Fintech
- Founded Year: 2004
- Total Funding Raised: $203.75M
- Joined Unicorn Club: 8/10/2021
- Key Investors: Accomplice, Oak Investment Partners, Georgian Partners
- Total Investors: 9
- Total Funding Deals: 3
- Website: https://www.freshbooks.com/
7. TensTorrent
A Canadian renewable energy technology company that provides renewable energy technology solutions and services for businesses.
Company Details:
- Country: Canada
- Valuation: $1B
- Industry: Artificial intelligence
- Founded Year: 2016
- Total Funding Raised: $221.03M
- Joined Unicorn Club: 5/5/2021
- Key Investors: Eclipse Ventures, Fidelity Investments, Moore Capital Management
- Total Investors: 4
- Total Funding Deals: 1
- Website: https://www.tenstorrent.com/
Conclusion
In conclusion, the top 7 unicorns we’ve explored are just a glimpse into the many success stories that continue to emerge from Toronto. As these companies reshape industries and set new standards, Toronto is sure to secure its place as a global leader in innovation and growth.