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The 11 Fastest Growing Startups from Waterloo

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In terms of entrepreneurship and business, Waterloo has evolved into one of the top emerging hubs in the world.

Hundreds of startup companies have been founded there in the last years, many of which are enjoying incredible success.

We've compiled a list with the 11 most successful ones.


11 Startups in Waterloo

1) ApplyBoard

1) ApplyBoard

ApplyBoard is an online study abroad application portal.

Details of the startup:

  • Started in: 2015
  • Founders: Martin Basiri, Massi Basiri, Meti Basiri
  • Industries: Artificial Intelligence, EdTech, Education, Internet, Software
  • Number of employees: 1001-5000
  • Funding amount: $483,480,000
  • Number of funding rounds: 7
  • Number of investors: 20

You can find their website here.

2) SkyWatch

2) SkyWatch

SkyWatch is a digital infrastructure that allows Earth observation data and intelligence to be distributed.

Details of the startup:

  • Started in: 2014
  • Founders: Dexter Jagula, James Slifierz, Roland Sing
  • Industries: Big Data, Cloud Computing, Information Technology
  • Number of employees: 11-50
  • Funding amount: $28,220,700
  • Number of funding rounds: 10
  • Number of investors: 19

You can find their website here.

3) Axonify

3) Axonify

Axonify is a company that specializes in e-learning software, interval reinforcement, and gamified learning.

Details of the startup:

  • Started in: 2011
  • Founders: John Short, Rebecca Short
  • Industries: E-Learning, Human Resources, Knowledge Management, Software
  • Number of employees: 51-100
  • Funding amount: $35,200,000
  • Number of funding rounds: 6
  • Number of investors: 7

You can find their website here.

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4) Dejero Labs

4) Dejero Labs

Dejero Labs is a network aggregation technology developer that provides broadcast and media companies with stable connectivity.

Details of the startup:

  • Started in: 2008
  • Founders: Bogdan Frusina
  • Industries: Cloud Management, Internet, Mobile, Software, Video, Wireless
  • Number of employees: 101-250
  • Funding amount: $107,450,886
  • Number of funding rounds: 11
  • Number of investors: 12

You can find their website here.

5) Auvik Networks

5) Auvik Networks

Auvik is a network management platform that is hosted in the cloud.

Details of the startup:

  • Started in: 2011
  • Founders: Alex Hoff, David Yach, Marc Morin
  • Industries: Cloud Computing, IT Management, SaaS, Software
  • Number of employees: 101-250
  • Funding amount: $33,312,569
  • Number of funding rounds: 4
  • Number of investors: 5

You can find their website here.

6) DarwinAI

6) DarwinAI

Deep learning may be enhanced and explained thanks to DarwinAI's Generative Synthesis 'AI building AI' technology.

Details of the startup:

  • Started in: 2017
  • Founders: Alexander Wong, Arif Virani, Brendan Chwyl, Francis Li, Mohammad Javad Shafiee, Mohammad Shafiee, Sheldon Fernandez
  • Industries: Artificial Intelligence, Education, Machine Learning, Software
  • Number of employees: 11-50
  • Funding amount: CA$3,900,000
  • Number of funding rounds: 5
  • Number of investors: 13

You can find their website here.

7) TextNow

7) TextNow

We believe that communication is a right that everyone has. We work hard to ensure that people have access to free phone service.

Details of the startup:

  • Started in: 2009
  • Founders: Derek Ting, Gary Fung, Jon Lerner
  • Industries: Messaging, Mobile, Social Network
  • Number of employees: 101-250
  • Funding amount: $1,000,000
  • Number of funding rounds: 1
  • Number of investors: 4

You can find their website here.

8) Plum.io

8) Plum.io

Plum provides corporate companies with the data and technology they need to hire, develop, and deploy their employees.

Details of the startup:

  • Started in: 2012
  • Founders: Caitlin MacGregor, Christine Bird, Neil MacGregor
  • Industries: Enterprise Software, Human Resources, Recruiting, SaaS, Software
  • Number of employees: 11-50
  • Funding amount: $5,950,000
  • Number of funding rounds: 3
  • Number of investors: 8

You can find their website here.

9) Nicoya Lifesciences

9) Nicoya Lifesciences

Nicoya is a nanotechnology startup that is producing world-changing sensor products.

Details of the startup:

  • Started in: 2012
  • Founders: John A. G. Dick, Ryan Denomme, Shawn Fitzpatrick
  • Industries: Biotechnology, Developer Platform, Nanotechnology, Sensor
  • Number of employees: 11-50
  • Funding amount: $12,571,540
  • Number of funding rounds: 7
  • Number of investors: 20

You can find their website here.

10) Intellijoint Surgical

10) Intellijoint Surgical

Intellijoint Surgical is a medical device firm based in Canada dedicated on helping orthopaedic surgeons achieve their surgical goals.

Details of the startup:

  • Started in: 2010
  • Founders: Andre Hladio, Armen Bakirtzian, Richard Fanson
  • Industries: Biotechnology, Health Care, Medical, Medical Device
  • Number of employees: 51-100
  • Funding amount: $20,393,000
  • Number of funding rounds: 7
  • Number of investors: 6

You can find their website here.

11) Convictional

11) Convictional

Convictional is a supplier enablement platform that assists enterprise B2C retailers and B2B distributors in the development and scaling of digital marketplaces.

Details of the startup:

  • Started in: 2017
  • Founders: Chris Grouchy, Roger Kirkness
  • Industries: B2B, E-Commerce, Software, Trading Platform
  • Number of employees: 1-10
  • Funding amount: $2,200,000
  • Number of funding rounds: 3
  • Number of investors: 7

You can find their website here.

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