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Download The List of the 100 Highest-Valued Unicorns

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The Full List of 13 Unicorn Startups in Toronto (2026)

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Toronto is home to 13 unicorn startups, with companies spanning industries from artificial intelligence to financial technology. The city's ecosystem shows a mix of both new and established players.

AI firm Cohere and password manager 1Password lead the group, each with a $7 billion valuation. In contrast, Maropost reached a $2 billion valuation with only $10 million in total funding.

Below is the full list of 13 Toronto unicorn startups at this time.

Top 10 Most Valuable Toronto Unicorns

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1,600+ Unicorns

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Cohere builds enterprise-grade large language models that prioritize data privacy and security. Their platform allows companies to deploy powerful AI applications on any cloud or on-premise, giving them full control over their business data.

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 created a password manager to help individuals and businesses protect their sensitive online information. Their tool secures everything from logins and documents to credit card details in a single, easy-to-use vault.

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 with a suite of tools for investing, saving, and managing money. It brings together services like managed investing, commission-free stock trading, and crypto into one accessible application.

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

StackAdapt offers a programmatic advertising platform that helps agencies and brands run campaigns across multiple digital channels. Their technology is recognized for using machine learning to improve campaign performance and deliver data-driven insights.

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 builds computers designed from the ground up for artificial intelligence. Their systems pair custom RISC-V CPUs with powerful AI accelerators to create a full-stack solution for demanding machine learning workloads.

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 a unified commerce platform that connects marketing, merchandising, and sales operations. Their software simplifies customer engagement for businesses by combining tools for email marketing, e-commerce, and point-of-sale into one system.

Valuation$2B
Year Founded2011
FoundersRoss Andrew Paquette
Funding Amount$10M
Company SizeLarge Team (251-1,000)
Last Funding Status
Top Investors

Clearco created an online financial platform that offers growth capital specifically for e-commerce and B2B companies. Their revenue-based financing model gives founders an alternative to traditional venture capital, letting them secure funding without diluting equity.

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 virtual private network that securely connects devices and applications. Their service simplifies networking by creating a private mesh network for teams, removing the complexity of traditional VPNs.

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

Figment builds institutional-grade staking infrastructure for investors and developers on dozens of proof-of-stake blockchains. They are known for providing a complete staking solution that includes robust security and detailed reporting.

Valuation$1.4B (Joined December 2021)
Year Founded2018
FoundersAndrew Cronk, Matt Harrop, Ryan Funduk
Funding Amount$164M
Company SizeMid-Size Team (51-250)
Last Funding StatusVenture Round
Top InvestorsB Capital, Thoma Bravo, YZi Labs, Quiet Capital, Anchorage Digital

Ada develops an AI-powered chatbot platform to automate the customer experience. Their technology resolves common support issues instantly, allowing businesses to scale their customer service without scaling their teams.

Valuation$1.2B (Joined May 2021)
Year Founded2016
FoundersDavid Hariri, Mike Murchison
Funding Amount$192.4M
Company SizeLarge Team (251-1,000)
Last Funding StatusSeries C
Top InvestorsAccel, Spark Capital, Bessemer Venture Partners, Tiger Global Management, Giant Ventures

The Remaining 3 Unicorns Founded in Toronto

The ten most valuable companies are only part of the picture. The rest of the city's billion-dollar startups cover a wide range of fields, from data to finance.

Some of these companies have been around for years, while others are just getting started. Here’s a look at the other unicorns that are shaping Toronto's tech scene.

Unicorn StartupMain IndustryYear FoundedAmount RaisedValuation
Xanadu logo XanaduData2016$268.3M$1B
Beacon Software logo Beacon SoftwareEnterprise2024$250M$1B
FreshBooks logo FreshBooksFintech2003$456.9M$1B

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