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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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 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 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 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 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 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 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 |
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 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 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 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 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 Founded | 2011 |
| Founders | Ross Andrew Paquette |
| Funding Amount | $10M |
| Company Size | Large 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 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 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 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 |
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 Founded | 2018 |
| Founders | Andrew Cronk, Matt Harrop, Ryan Funduk |
| Funding Amount | $164M |
| Company Size | Mid-Size Team (51-250) |
| Last Funding Status | Venture Round |
| Top Investors | B 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 Founded | 2016 |
| Founders | David Hariri, Mike Murchison |
| Funding Amount | $192.4M |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Series C |
| Top Investors | Accel, 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.