Ontario is home to 17 unicorn startups, with a strong presence in AI and cybersecurity. This includes AI firm Cohere and password manager 1Password, both of which have reached a $7 billion valuation.
The region's startup scene also features major players in fintech and healthcare. For example, Wealthsimple shares a $7 billion valuation, while PointClickCare, founded in 1995, is valued at $5 billion.
Below is the full list of 17 Ontario unicorn startups at this time.
Top 10 Most Valuable Ontario Unicorns
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2,189 Accelerators & Incubators
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1,600+ Unicorns
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250 BioTech & Health Investors
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250 AI Investors
List of 250 startup investors in the AI and Machine Learning industries, along with their Twitter, LinkedIn, and email addresses.
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250 Fintech Investors
List of 250 startup investors in the FinTech and Finance industries, along with their Twitter, LinkedIn, and email addresses.
Get the Sheet for $50Cohere provides an AI platform with large language models built for enterprise-grade security and privacy. Developers use their tools to integrate advanced AI capabilities, like search and content generation, directly into their own products.
| Valuation | $7B (Joined May 2023) |
| Year Founded | 2019 |
| Founders | Aidan Gomez, Ivan Zhang, Nick Frosst |
| Funding Amount | $1.7B |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Series D |
| Top Investors | Business Development Bank of Canada, NVIDIA, Alumni Ventures, Inovia Capital, Index Ventures |
1Password builds a password manager that helps individuals and businesses secure their digital lives. Their platform is known for its strong encryption and user-friendly applications that work across all major devices and browsers.
| Valuation | $7B (Joined July 2021) |
| Year Founded | 2005 |
| Founders | Dave Teare, Natalia Karimov, Roustem Karimov, Sara Teare |
| Funding Amount | $1B |
| Company Size | Major Organization (1,001-5,000) |
| Last Funding Status | Series C |
| Top Investors | Lightspeed Venture Partners, Accel, ICONIQ Growth, Tiger Global Management, Salesforce Ventures |
Wealthsimple built a financial platform that simplifies how people invest and manage their money. Their popular app offers stock trading, automated investing, and access to cryptocurrency all in one place.
| Valuation | $7B |
| Year Founded | 2014 |
| Founders | Brett Huneycutt, Michael Katchen, Rudy Adler, Som Seif |
| Funding Amount | CA$1.9B |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Series E |
| Top Investors | Base10 Partners, TCV, Redpoint, Inovia Capital, ICONIQ Growth |
PointClickCare builds a cloud-based software platform for the long-term and post-acute care industry. Their system helps providers streamline clinical and financial operations, improving care delivery for seniors.
| Valuation | $5B (Joined January 2021) |
| Year Founded | 1995 |
| Founders | Dave Wessinger, Mike Wessinger |
| Funding Amount | CA$297M |
| Company Size | Major Organization (1,001-5,000) |
| Last Funding Status | Private Equity |
| Top Investors | Dragoneer Investment Group, Hellman & Friedman, JMI Equity |
ApplyBoard streamlines the study abroad process with its application platform designed for international students. They connect students, recruitment partners, and educational institutions to simplify everything from school discovery to final enrollment.
| Valuation | $3.2B (Joined May 2020) |
| Year Founded | 2015 |
| Founders | Martin Basiri, Massi Basiri, Meti Basiri |
| Funding Amount | $554M |
| Company Size | Major Organization (1,001-5,000) |
| Last Funding Status | Series D |
| Top Investors | Business Development Bank of Canada, Index Ventures, Plug and Play, 500 Global, Fidelity |
StackAdapt builds a multi-channel programmatic advertising platform used by agencies and brands to execute data-driven campaigns. Their software helps marketers plan and manage advertising across native, display, video, connected TV, and audio channels.
| Valuation | $3B |
| Year Founded | 2014 |
| Founders | Ildar Shar, Vitaly Pecherskiy, Yang Han |
| Funding Amount | $536.6M |
| Company Size | Major Organization (1,001-5,000) |
| Last Funding Status | Private Equity |
| Top Investors | Plaza Ventures, Summit Partners, MaRS Investment Accelerator Fund, Teachers’ Venture Growth, Intrepid Growth Partners |
Tenstorrent develops high-performance computers for artificial intelligence, building everything from the silicon chip up to the software. Their integrated approach provides a powerful and efficient system for developers working on demanding machine learning applications.
| Valuation | $3B (Joined May 2021) |
| Year Founded | 2016 |
| Founders | Ivan Hamer, Ljubisa Bajic, Milos Trajkovic |
| Funding Amount | $1B |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Series D |
| Top Investors | Eclipse Ventures, LG Electronics, Export Development Canada, Fidelity, Plug and Play |
Maropost builds an all-in-one platform that integrates e-commerce, marketing automation, and customer service functionalities. This unified system is designed to help businesses manage customer acquisition, conversion, and retention from one place.
| Valuation | $2B |
| Year Founded | 2011 |
| Founders | Ross Andrew Paquette |
| Funding Amount | $10M |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | — |
| Top Investors | — |
Clearco built an online financial platform to provide growth capital for e-commerce and B2B companies. They specialize in non-dilutive funding, giving founders an alternative to traditional venture capital for scaling their businesses.
| Valuation | $2B (Joined April 2021) |
| Year Founded | 2015 |
| Founders | Andrew D'Souza, Ben Sanders, Charlie Feng, Ivan Gritsiniak, Michele Romanow, Tanay Delima |
| Funding Amount | $858.6M |
| Company Size | Mid-Size Team (51-250) |
| Last Funding Status | Series D |
| Top Investors | Founders Fund, 8VC, FJ Labs, Inovia Capital, Oak HC/FT |
Tailscale builds a zero-configuration VPN service that creates secure networks between servers, computers, and cloud instances. Their platform allows teams to easily connect their devices and access services from anywhere, removing the need for complex firewall configurations.
| Valuation | $1.45B (Joined April 2025) |
| Year Founded | 2019 |
| Founders | Avery Pennarun, David Carney, David Crawshaw |
| Funding Amount | $276.4M |
| Company Size | Mid-Size Team (51-250) |
| Last Funding Status | Series C |
| Top Investors | Insight Partners, Inovia Capital, Uncork Capital, Flex Capital, Accel |
The Remaining 7 Unicorns Founded in Ontario
The 10 most valuable unicorns are just part of Ontario's story. Beyond the biggest names, a new wave of companies is growing quickly across the province.
Together, this next group has raised over $1.8 billion, working in fields from AI and security to crypto. Here’s a look at the other unicorn startups shaping Ontario’s tech scene.