Meet Canada's Fastest-Growing Tech Companies

by Knowlton Thomas

Profit Magazine has unveiled its 24th annual Profit 200 list of Canada's fastest-growing companies. As usual, tech firms dominate most of the list, including the top five.

The number one this year is Toronto's NexJ Systems, a private cloud software company that grew its revenue by a staggering 15,000% in just five years. Ontario's Mood Media, which specializes in in-store background music and signage, came second, clocking in its five-year growth at a blistering 14,200%. The average rate of growth in the top 200 is more than 1,000%.

“It’s a challenging time to be an entrepreneur, but it’s also a very exciting, opportunity-rich time,” says Profit Editor-in-Chief Ian Portsmouth. “There are a significant number of growth stars in IT services, marketing and software, but the ranking also shows you can build a fast-growing business in practically any niche.”

Other fast-growing tech companies include Clevest Solutions (mobile workforce management software, ranked sixth with 6,000% growth) and GuestLogix (retailing software for airlines and railways, ranked 17th with 2,200% growth).

30% of this year's Profit 200 are involved in software development, by far the most of any category (besides the very broad "business services," of which 79% are involved in).

Richmond, British Columbia, Canada

Clevest provides software for mobile workforce automation and smart grid operations exclusively for electric, gas and water utilities. Over 125 utilities worldwide have chosen Clevest to transform their field operations by harnessing the power of our software and deep domain knowledge of mobile computing and utility operations. Clevest’s award-winning platform powers a product suite that... more

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Knowlton Thomas

Knowlton Thomas

Knowlton is the managing editor of Techvibes and author of Tempest Bound. Based in Vancouver, Knowlton has been published in national publications and has also appeared on television and radio. Previously he was an editor for New Westminster weekly The Other Press and served on its board of directors. When not working, Knowlton enjoys hiking, tennis, and martial arts. more

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