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Top 5 Waterloo Startups to Watch in 2026

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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.

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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 Founded2011
FoundersCarol Leaman, John Short, Rebecca Short
Funding Amount$35.2M
Startup SizeLarge Team (251-1,000)
Last Funding StatusDebt Financing
Top InvestorsJMI 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 Founded2012
FoundersMatthew Monteyne, Prem Gururajan
Funding AmountCA$20M
Startup SizeMid-Size Team (51-250)
Last Funding StatusSeries A
Top InvestorsEclipse 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 Founded2020
FoundersGeorgios Vlachos, Sergey Gorbunov
Funding Amount$93.8M
Startup SizeLean Team (11-50)
Last Funding StatusInitial Coin Offering
Top InvestorsDragonfly, 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 Founded2001
FoundersEldon Sprickerhoff
Funding Amount$411.2M
Startup SizeLarge Team (251-1,000)
Last Funding StatusSecondary Market
Top InvestorsLa 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 Founded2011
FoundersHongwei Liu, Mitchell Butler
Funding Amount$16.1M
Startup SizeMid-Size Team (51-250)
Last Funding StatusSeries A
Top InvestorsCeltic House Asia Partners, M2O, Channel Equity Partners

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