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The Full List of 17 Unicorn Startups in Ontario (2026)

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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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Cohere 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 Founded2019
FoundersAidan Gomez, Ivan Zhang, Nick Frosst
Funding Amount$1.7B
Company SizeLarge Team (251-1,000)
Last Funding StatusSeries D
Top InvestorsBusiness 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 Founded2005
FoundersDave Teare, Natalia Karimov, Roustem Karimov, Sara Teare
Funding Amount$1B
Company SizeMajor Organization (1,001-5,000)
Last Funding StatusSeries C
Top InvestorsLightspeed 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 Founded2014
FoundersBrett Huneycutt, Michael Katchen, Rudy Adler, Som Seif
Funding AmountCA$1.9B
Company SizeLarge Team (251-1,000)
Last Funding StatusSeries E
Top InvestorsBase10 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 Founded1995
FoundersDave Wessinger, Mike Wessinger
Funding AmountCA$297M
Company SizeMajor Organization (1,001-5,000)
Last Funding StatusPrivate Equity
Top InvestorsDragoneer 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 Founded2015
FoundersMartin Basiri, Massi Basiri, Meti Basiri
Funding Amount$554M
Company SizeMajor Organization (1,001-5,000)
Last Funding StatusSeries D
Top InvestorsBusiness 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 Founded2014
FoundersIldar Shar, Vitaly Pecherskiy, Yang Han
Funding Amount$536.6M
Company SizeMajor Organization (1,001-5,000)
Last Funding StatusPrivate Equity
Top InvestorsPlaza 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 Founded2016
FoundersIvan Hamer, Ljubisa Bajic, Milos Trajkovic
Funding Amount$1B
Company SizeLarge Team (251-1,000)
Last Funding StatusSeries D
Top InvestorsEclipse 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 Founded2011
FoundersRoss Andrew Paquette
Funding Amount$10M
Company SizeLarge 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 Founded2015
FoundersAndrew D'Souza, Ben Sanders, Charlie Feng, Ivan Gritsiniak, Michele Romanow, Tanay Delima
Funding Amount$858.6M
Company SizeMid-Size Team (51-250)
Last Funding StatusSeries D
Top InvestorsFounders 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 Founded2019
FoundersAvery Pennarun, David Carney, David Crawshaw
Funding Amount$276.4M
Company SizeMid-Size Team (51-250)
Last Funding StatusSeries C
Top InvestorsInsight 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.

Unicorn StartupMain IndustryYear FoundedAmount RaisedValuation
Figment logo FigmentCrypto2018$164M$1.4B
Ada logo AdaAI2016$192.4M$1.2B
eSentire logo eSentireSecurity2001$411.2M$1.1B
Xanadu logo XanaduData2016$268.3M$1B
Beacon Software logo Beacon SoftwareEnterprise2024$250M$1B
Axelar Network logo Axelar NetworkCrypto2020$93.8M$1B
FreshBooks logo FreshBooksFintech2003$456.9M$1B

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