Top 5 Waterloo Startups to Watch in 2026
Waterloo is home to a diverse group of technology companies, from established players to newer ventures. This includes cybersecurity firm eSentire, which has raised over $411M, and the more recent blockchain company Axelar Network.
The local ecosystem also features companies in e-learning, logistics, and digital mapping, each contributing to the area's growth.
Below is our list of 5 Waterloo startups worth keeping an eye on.
Failory's Top 5 Picks
Axonify has developed a learning platform that uses gamification and bite-sized content to train frontline employees. This approach helps improve knowledge retention and on-the-job performance by making learning a continuous, daily habit.
| Year Founded | 2011 |
| Founders | Carol Leaman, John Short, Rebecca Short |
| Funding Amount | $35.2M |
| Startup Size | Large Team (251-1,000) |
| Last Funding Status | Debt Financing |
| Top Investors | JMI Equity, BDC Venture Capital, Harmony Partners, Bridgescale Partners, Sixth Street Specialty Lending |
RideCo develops a cloud-based software platform that helps public transit agencies launch on-demand transportation services. Their technology modernizes public transit by enabling flexible, shared rides that improve both operational efficiency and the rider experience.
| Year Founded | 2012 |
| Founders | Matthew Monteyne, Prem Gururajan |
| Funding Amount | CA$20M |
| Startup Size | Mid-Size Team (51-250) |
| Last Funding Status | Series A |
| Top Investors | Eclipse Ventures |
Axelar Network builds a decentralized communication layer to connect disparate blockchain ecosystems. Their platform offers developers a universal set of protocols and APIs for building cross-chain applications and moving assets securely.
| Year Founded | 2020 |
| Founders | Georgios Vlachos, Sergey Gorbunov |
| Funding Amount | $93.8M |
| Startup Size | Lean Team (11-50) |
| Last Funding Status | Initial Coin Offering |
| Top Investors | Dragonfly, Coinbase Ventures, Electric Capital, RockawayX, Arrington Capital |
eSentire delivers Managed Detection and Response (MDR) services that protect organizations from disruptive cyberattacks. Their platform combines machine learning with 24/7 human-led threat hunting to rapidly identify and contain security breaches.
| Year Founded | 2001 |
| Founders | Eldon Sprickerhoff |
| Funding Amount | $411.2M |
| Startup Size | Large Team (251-1,000) |
| Last Funding Status | Secondary Market |
| Top Investors | La Caisse, Warburg Pincus, Georgian, Accel-KKR, Edison Partners |
Mappedin builds an indoor mapping platform used by large venues to create and manage their digital floor plans. Their software development kits allow property owners to embed interactive maps and wayfinding into their own applications.
| Year Founded | 2011 |
| Founders | Hongwei Liu, Mitchell Butler |
| Funding Amount | $16.1M |
| Startup Size | Mid-Size Team (51-250) |
| Last Funding Status | Series A |
| Top Investors | Celtic House Asia Partners, M2O, Channel Equity Partners |
