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1. TRACXN TOP BUSINESS MODELS REPORT
September 20, 2021
CANADA TECH

2. Canada Tech - Top Business Models Report Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Contents
CanadaCanada Tech Funding - Overview 3
Top Funded Business Models 4
One pagers 9
Appendix 59
2

3. Canada Tech - Top Business Models Report Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Funding in last 1 year
3
Alternative Lending $794M
Solid Waste Management Tech $721M
Finance & Accounting Tech $672M
PC & Console Gaming $562M
Data Center Infrastructure $488M
Renewable Energy Tech $444M
Y-o-Y Funding
Top Investors by Funding Rounds
Seed
Stage
Y Combinator
BDC
Innovacorp
25
13
11
Early
Stage
BDC
Inovia Capital
Golden Ventures
21
11
8
Late
Stage
BDC
Export Development
Canada
Inovia Capital
10
8
7
Funding by Geography
Top Feeds by $ Funding
Top Funding Rounds
$ Funding # Rounds
Redwood Materials
(2017, Montreal)
$700M - Series C
Wealthsimple
(2014, Toronto)
$610M - Series F
eStruxture
(2017, Montreal)
$488M - Series B
Trulioo
(2011, Vancouver)
$394M - Series D
Amp
(2009, Mississauga)
$374M - PE
ApplyBoard
(2015, Kitchener)
$310M - Series D
Dapper Labs
(2018, Vancouver)
$305M - Series C
Dapper Labs
(2018, Vancouver)
$250M - Series B
Vena
(2011, Toronto)
$241M - Series C
Fraction
(2018, Vancouver)
$227M - Series D
Clearco
(2015, Toronto)
$215M - Series D
Loopio
(2014, Toronto)
$200M - Series B
Toronto (36%)
Vancouver (22%)
Montreal (17%)
Mississauga (4%)
Kitchener (3%)
Others (17%)

4. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Canada Tech - Top Funded Business Models - last 1 year (1/5)
4
Rank Business Model $ Funding # Rounds Top Funding Round Details
1▲26 Tech Enabled Lithium Battery Recyclers $700M 1 Redwood Mater.. | $700M | Series C Link
2-- Datacenter Colocation $488M 1 eStruxture | $488M | Series B Link
3-- Identity Verification $394M 1 Trulioo | $394M | Series D Link
4-- KYC for Financial Institutions $394M 1 Trulioo | $394M | Series D Link
5-- Internet First Revenue Based Financing $315M 2 Clearco | $215M | Series D Link
6▲2 Overseas College Recommendation Platforms $310M 1 ApplyBoard | $310M | Series D Link
7▲5 Drugs for Multiple Cancer Types $252M 8 Turnstone Bi.. | $80.0M | Series D Link
8▲183 Financial Planning & Analysis Software $249M 2 Vena | $241M | Series C Link
9-- Sales RFP Response Automation $200M 1 Loopio | $200M | Series B Link
10-- Deep Learning Processing Units $200M 1 Tenstorrent | $200M | Series C Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

5. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Canada Tech - Top Funded Business Models - last 1 year (2/5)
5
Rank Business Model $ Funding # Rounds Top Funding Round Details
11▲23
Healthcare IT > Provider > Hospital Information
Systems > PM & EHR Platforms > Home Care Mana..
$182M 1 AlayaCare | $182M | Series D Link
12▲14 Genomic Sequence Analysis Softwares $180M 2 Deep Genomics | $180M | Series C Link
13▼6 Sequencing-based Genomic Precision Medicine $180M 1 Deep Genomics | $180M | Series C Link
14▲14 Genome Data and Insights $180M 1 Deep Genomics | $180M | Series C Link
15▲44 University Classroom Live Streaming Platforms $130M 1 Top Hat | $130M | Series E Link
16-- Employee Data Analytics $125M 1 Visier | $125M | Series E Link
17-- Cardiac Rhythm Disorder Treatment Devices $116M 1 Kardium | $116M | Series B Link
18-- Legal Practice Management $110M 1 Clio | $110M | Series E Link
19▲43
Internet First Retail Banks with Partner Bank's
License
$110M 4 Neo Financial | $50.5M | Series B Link
20▲299 ERP for Schools $103M 2 Paper | $100M | Series C Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

6. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Canada Tech - Top Funded Business Models - last 1 year (3/5)
6
Rank Business Model $ Funding # Rounds Top Funding Round Details
21-- Application Lifecycle Management $100M 2 Tasktop | $100M | Series C Link
22-- Visitor Management Software $100M 1 iLobby | $100M | Series D Link
23▲72 Tutoring Platforms for Schools $100M 1 Paper | $100M | Series C Link
24▲148 Sales Productivity Tools $97.0M 2 Dooly | $80.0M | Series B Link
25-- Remote Medication Dispensing Systems $97.0M 1 MedAvail | $97.0M | Series D Link
26-- Patient derived Cancer Cell Models $85.0M 1 Notch Therap.. | $85.0M | Series A Link
27-- Hotel Metasearch Engines $84.7M 1 Snaptravel | $84.7M | Series B Link
28-- Autonomous Trucks $83.5M 1 Waabi | $83.5M | Series A Link
29-- SMB Accounting $80.8M 1 FreshBooks | $80.8M | Series E Link
30-- Accounting and Invoicing $80.8M 1 FreshBooks | $80.8M | Series E Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

7. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Canada Tech - Top Funded Business Models - last 1 year (4/5)
7
Rank Business Model $ Funding # Rounds Top Funding Round Details
31▲294 Gene Therapy Drugs $80.0M 2 Turnstone Bi.. | $80.0M | Series D Link
32-- Backup and Disaster Recovery $79.9M 2 Rewind | $65.0M | Series B Link
33-- Vehicle Loans Distribution Platforms $79.4M 1 Canada Drives | $79.4M | Series B Link
34-- Internet First Auto Loan Marketplaces $79.4M 1 Canada Drives | $79.4M | Series B Link
35-- Ecommerce Payment Software $78.3M 3 Paystone | $54.4M | Series C Link
36-- Retail Stores Software Suite $78.3M 2 Paystone | $54.4M | Series C Link
37-- ERP for Offline Retailers $78.3M 2 Paystone | $54.4M | Series C Link
38-- Business Payments Solutions $78.3M 2 Paystone | $54.4M | Series C Link
39-- Field force solutions for Home Service Businesses $60.5M 3 Jobber | $60.0M | Series C Link
40▼16 Food Ordering Platforms $60.0M 2 Fantuan | $35.0M | Series B Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

8. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Canada Tech - Top Funded Business Models - last 1 year (5/5)
8
Rank Business Model $ Funding # Rounds Top Funding Round Details
41-- Satellite Communication Services $60.0M 1 Kepler | $60.0M | Series B Link
42-- Satellite IoT Connectivity $60.0M 1 Kepler | $60.0M | Series B Link
43-- Online Accounting Services $60.0M 1 Bench | $60.0M | Series C Link
44▲242 Crypto Trading Platforms $58.0M 3 Coinsquare | $56.4M | Series C Link
45-- Dapp Development Platforms $58.0M 5 Figment | $50.0M | Series B Link
46▲154 Insurance Comparison Platforms $57.3M 2 Rates.ca | $51.0M | Series C Link
47▲26 ADA Compliance $55.0M 1 eSSENTIAL AC.. | $55.0M | Series C Link
48▲83 Internet First Inner Wear Brands $53.0M 1 Knix | $53.0M | Series B Link
49-- Internet First Invoice Financing $50.0M 1 FundThrough | $50.0M | Series B Link
50-- Media Over IP Solutions $47.8M 1 Dejero | $47.8M | Series C Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

9. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Tech Enabled Lithium Battery Recyclers -
Canada
01
9
Back to index
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$700M(▲1650%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$742M
3
1
3
1
Solid Waste Management Tech (ReCollect)
(# Cos: 61 | $1.5B)
Recycling (Ostara)
(# Cos: 22 | $869M)
Tech Enabled Recyclers (Loop Industries)
(# Cos: 8 | $742M)
Lithium (Redwood Materials)
(# Cos: 3 | $742M)
Redwood Materials
(2017, Montreal, $742M)
American Manganese
(1987, Surrey)
Lithion Recycling
(2018, Montreal)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Redwood Materials (2017, Montreal)
$700M - Series C - Jul 2021

10. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
eStruxture (2017, Montreal)
$488M - Series B - May 2021
Datacenter Colocation - Canada
02
10
Back to index
Data Center Infrastructure (CoolIT Systems)
(# Cos: 54 | $997M)
Data Center Providers (iWeb)
(# Cos: 37 | $905M)
Colocation (eStruxture)
(# Cos: 36 | $902M)
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$488M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
13
$902M
10
1
36
1
eStruxture
(2017, Montreal, $668M)
iWeb
(1996, Montreal, $4.3M)
ROOT Data Center
(2013, Montreal, $115M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

11. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Identity Verification - Canada
03
11
Back to index
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$394M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$548M
4
-
7
2
Cybersecurity (Mitel)
(# Cos: 455 | $1.6B)
IAM (Plurilock)
(# Cos: 96 | $583M)
Federated Identity Management
(SecureKey)
(# Cos: 13 | $548M)
Identity & Attribute Verification
(Trulioo)
(# Cos: 7 | $548M)
Trulioo
(2011, Vancouver, $477M)
SecureKey
(2008, Toronto, $71.2M)
Verified.Me
(2010, Toronto)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Trulioo (2011, Vancouver)
$394M - Series D - Jun 2021

12. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
KYC for Financial Institutions - Canada
04
12
Back to index
RegTech (Verafin)
(# Cos: 70 | $1.1B)
KYC (Trulioo)
(# Cos: 23 | $550M)
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$394M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$550M
7
2
23
2
Trulioo
(2011, Vancouver, $477M)
SecureKey
(2008, Toronto, $71.2M)
Agreement Express
(2001, Vancouver)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Trulioo (2011, Vancouver)
$394M - Series D - Jun 2021

13. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Internet First Revenue Based Financing -
Canada
05
13
Back to index
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$315M( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$385M
3
1
3
1
Alternative Lending (Borrowell)
(# Cos: 344 | $1.2B)
Online Lenders (Mogo.ca)
(# Cos: 249 | $1.2B)
Business Loans (FundThrough)
(# Cos: 48 | $467M)
Revenue Based Financing (Timia Capital)
(# Cos: 4 | $391M)
Direct Lender (Clearco)
(# Cos: 3 | $385M)
Clearco
(2015, Toronto, $385M)
Flow Capital
(2018, Toronto)
Corl
(2016, Montreal, $412K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Clearco (2015, Toronto)
$215M - Series D - Jul 2021
Clearco (2015, Toronto)
$100M - Series C - Apr 2021

14. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Overseas College Recommendation
Platforms - Canada
06
14
Back to index
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$310M(▲146%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$496M
1
-
2
1
Higher Education Tech (Top Hat)
(# Cos: 181 | $900M)
Admissions Support for Students (Yconic)
(# Cos: 22 | $496M)
College Discovery (SchoolFinder)
(# Cos: 9 | $496M)
Recommendations (Zept)
(# Cos: 3 | $496M)
Study Abroad (ApplyBoard)
(# Cos: 2 | $496M)
ApplyBoard
(2015, Kitchener, $496M)
Aplicar
(2020, Vancouver)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
ApplyBoard (2015, Kitchener)
$310M - Series D - Jun 2021

15. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Turnstone Biologics (2015, Ottawa)
$80.0M - Series D - Jul 2021
Virogin Biotech (2015, Vancouver)
$80.0M - Series D - May 2021
Virogin Biotech (2015, Vancouver)
$62.0M - Series C - Sep 2020
Alpha-9 Theranost.. (2019, Vancouver)
$8.9M - Series A - Apr 2021
Qu Biologics (2007, Vancouver)
$8.0M - Series B - Dec 2020
Pacylex Pharmaceut.. (2012, Edmonton)
$7.2M - Series A - Jun 2021
Bold Therapeutics (2018, Vancouver)
$5.5M - Series A - Jan 2021
View all 8 Funding Rounds on Tracxn Platform
Drugs for Multiple Cancer Types -
Canada
07
15
Back to index
Oncology (ESSA Pharma)
(# Cos: 165 | $1.5B)
Drugs (Sierra Oncology)
(# Cos: 100 | $1.3B)
Diversified (Zymeworks)
(# Cos: 77 | $1.0B)
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$252M(▲153%)
8( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
11
$1.0B
58
12
77
9
Zymeworks
(2003, Vancouver, $146M)
ESSA Pharma
(2009, Vancouver, $16.4M)
Repare Therapeutics
(2016, Montreal, $166M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

16. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Vena (2011, Toronto)
$241M - Series C - Apr 2021
Conquest Planning (2018, Winnipeg)
$7.5M - Series A - Jul 2021
Financial Planning & Analysis Software -
Canada
08
16
Back to index
Finance & Accounting Tech (FreshBooks)
(# Cos: 410 | $1.3B)
Financial Planning & Analysis (Prophix)
(# Cos: 58 | $432M)
Suite (Vena)
(# Cos: 11 | $405M)
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$249M(▲8193%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$405M
5
-
11
2
Vena
(2011, Toronto, $385M)
Prophix
(2000, Mississauga)
Longview
(1984, Markham, $6.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

17. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Loopio (2014, Toronto)
$200M - Series B - Apr 2021
Sales RFP Response Automation -
Canada
09
17
Back to index
Sales Force Automation (Varicent)
(# Cos: 365 | $908M)
Sales Enablement (Vidyard)
(# Cos: 25 | $277M)
RFP Response Automation (Loopio)
(# Cos: 1 | $209M)
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$200M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$209M
1
-
1
1
Loopio
(2014, Toronto, $209M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

18. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Deep Learning Processing Units - Canada
10
18
Back to index
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$200M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$221M
1
-
1
1
Digital ICs (1QBit)
(# Cos: 27 | $917M)
Microprocessors (D-Wave)
(# Cos: 22 | $816M)
Artificial Intelligence and Machine
Learning (Untether)
(# Cos: 8 | $373M)
Deep Learning Processing Unit
(Tenstorrent)
(# Cos: 1 | $221M)
Tenstorrent
(2016, Toronto, $221M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Tenstorrent (2016, Toronto)
$200M - Series C - May 2021

19. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Healthcare IT > Provider > Hospital Information Systems >
PM & EHR Platforms > Home Care Management > Agencies -
Canada
11
19
Back to index
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$182M(▲394%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$274M
1
-
7
2
Healthcare IT (Figure 1)
(# Cos: 1343 | $1.5B)
Provider (PointClickCare)
(# Cos: 1018 | $1.3B)
Hospital Information Systems (Chronometriq)
(# Cos: 290 | $417M)
PM & EHR Platforms (NOVX Systems)
(# Cos: 211 | $377M)
Home Care Management (Homecare
Intelligence)
(# Cos: 9 | $274M)
Agencies (AlayaCare)
(# Cos: 7 | $274M)
AlayaCare
(2014, Toronto, $274M)
Homecare Intelligence
(2014, Toronto)
Connected Care Communi..
(2015, Peterborough)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
AlayaCare (2014, Toronto)
$182M - Series D - Jun 2021

20. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Genomic Sequence Analysis Softwares -
Canada
12
20
Back to index
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$180M(▲350%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$242M
8
1
20
1
Life Sciences Tech (My Intelligent Machines)
(# Cos: 203 | $379M)
Research & Development (Benchsci)
(# Cos: 178 | $374M)
Drug Discovery (ProteinQure)
(# Cos: 59 | $298M)
Genomics (Phenomic AI)
(# Cos: 30 | $264M)
Sequencing Analysis (Deep Genomics)
(# Cos: 20 | $242M)
Deep Genomics
(2015, Toronto, $240M)
DNAstack
(2014, Toronto, $35.0K)
Ranomics
(2015, Toronto, $1.6M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Deep Genomics (2015, Toronto)
$180M - Series C - Jul 2021
BioBox (2019, Toronto)
Undisclosed - Seed - Feb 2021

21. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Sequencing-based Genomic Precision
Medicine - Canada
13
21
Back to index
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$180M(▲6.3%)
1(▼80%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$541M
9
2
15
2
Genomics (Acorn)
(# Cos: 302 | $1.2B)
Applied Genomics (Affinor Growers)
(# Cos: 177 | $971M)
Clinical Genomics (Arbutus Bio)
(# Cos: 79 | $903M)
Diagnostics (Geneseeq)
(# Cos: 54 | $654M)
Sequencing-based (Repare
Therapeutics)
(# Cos: 46 | $654M)
Precision Medicine (Deep
Genomics)
(# Cos: 15 | $541M)
Deep Genomics
(2015, Toronto, $240M)
Repare Therapeutics
(2016, Montreal, $166M)
Geneseeq
(2012, Toronto, $128M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Deep Genomics (2015, Toronto)
$180M - Series C - Jul 2021

22. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Genome Data and Insights - Canada
14
22
Back to index
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$180M(▲350%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$242M
3
-
3
1
Data as a Service (Miovision)
(# Cos: 190 | $491M)
Industries (Local Logic)
(# Cos: 76 | $308M)
Healthcare Data (Cyclica)
(# Cos: 7 | $263M)
Genome Data (Deep Genomics)
(# Cos: 3 | $242M)
Deep Genomics
(2015, Toronto, $240M)
Ranomics
(2015, Toronto, $1.6M)
Cytognomix
(2009, London)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Deep Genomics (2015, Toronto)
$180M - Series C - Jul 2021

23. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Top Hat (2009, Toronto)
$130M - Series E - Feb 2021
University Classroom Live Streaming
Platforms - Canada
15
23
Back to index
Higher Education Tech (D2L)
(# Cos: 181 | $900M)
Tech for Teachers (BioRender)
(# Cos: 16 | $200M)
Classroom Live Streaming (Top Hat)
(# Cos: 2 | $200M)
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$130M(▲550%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$200M
1
-
2
1
Top Hat
(2009, Toronto, $200M)
Blindside Networks
(2008, Ottawa)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

24. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Visier (2010, Vancouver)
$125M - Series E - Jun 2021
Employee Data Analytics - Canada
16
24
Back to index
HRTech (WorkJam)
(# Cos: 1119 | $1.3B)
Workforce Analytics (Diversio)
(# Cos: 12 | $220M)
Suite (Visier)
(# Cos: 7 | $220M)
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$125M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$220M
3
-
7
1
Visier
(2010, Vancouver, $220M)
Diversio
(2018, Toronto)
Nugget
(2018, Toronto)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

25. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Cardiac Rhythm Disorder Treatment
Devices - Canada
17
25
Back to index
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$116M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$118M
3
-
3
1
Cardiac and Vascular Disorders (Circle Cardiovascular
Imaging)
(# Cos: 83 | $848M)
Medical Devices (Analytics 4 Life)
(# Cos: 61 | $317M)
Therapeutic Devices (Neovasc)
(# Cos: 24 | $184M)
Rhythm Disorders (Kardium)
(# Cos: 3 | $118M)
Kardium
(2007, Vancouver, $117M)
SaluTech
(2019, Toronto)
Aegis Medical Innovati..
(2007, Vancouver, $48.8K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Kardium (2007, Vancouver)
$116M - Series B - Jan 2021

26. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Clio (2008, Burnaby)
$110M - Series E - Apr 2021
Legal Practice Management - Canada
18
26
Back to index
Legal Tech (Kira Systems)
(# Cos: 293 | $576M)
Legal Practice Management (HighQ)
(# Cos: 65 | $454M)
Suite (Clio)
(# Cos: 12 | $386M)
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$110M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$386M
2
-
12
1
Clio
(2008, Burnaby, $386M)
Blended Perspectives
(2007, Toronto)
DoProcess
(1989, Toronto)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

27. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Internet First Retail Banks with Partner Bank's
License - Canada
19
27
Back to index
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$110M(▲481%)
4(▲33.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$192M
6
-
13
2
Banking Tech (Borrowell)
(# Cos: 177 | $585M)
Internet First Banks (KOHO)
(# Cos: 27 | $234M)
Through Bank Partnerships (NorthOne)
(# Cos: 18 | $234M)
Retail Banking (Neo Financial)
(# Cos: 13 | $192M)
Neo Financial
(2018, Calgary, $90.0M)
KOHO
(2014, Toronto, $98.5M)
Wingocard
(2019, Montreal, $3.3M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Neo Financial (2018, Calgary)
$50.5M - Series B - Sep 2021
KOHO (2014, Toronto)
$39.5M - Series C - Mar 2021
Neo Financial (2018, Calgary)
$19.6M - Series A - Dec 2020
Wingocard (2019, Montreal)
$1.7M - Seed - May 2021

28. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Paper (2010, Montreal)
$100M - Series C - Jun 2021
Edunation (2011, Jordan)
$3.0M - Seed - Jun 2021
ERP for Schools - Canada
20
28
Back to index
ERP (Lightspeed)
(# Cos: 370 | $578M)
Education (Kira Talent)
(# Cos: 62 | $132M)
Schools (Paper)
(# Cos: 36 | $106M)
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$103M(▲ >10K%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$106M
11
1
36
2
Paper
(2010, Montreal, $100M)
Edunation
(2011, Jordan, $3.0M)
Mobi724
(2012, Montreal)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

29. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Application Lifecycle Management -
Canada
21
29
Back to index
DevOps (Buddybuild)
(# Cos: 19 | $153M)
Application Lifecycle Management (Tasktop)
(# Cos: 4 | $136M)
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$100M( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$136M
2
-
4
2
Tasktop
(2007, Vancouver, $131M)
OpsLevel
(2018, Toronto, $5.0M)
ShuttleOps
(2019, Oakville)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Tasktop (2007, Vancouver)
$100M - Series C - Apr 2021
OpsLevel (2018, Toronto)
$5.0M - Seed - Nov 2020

30. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Visitor Management Software - Canada
22
30
Back to index
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$100M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$113M
2
-
25
2
Facility Management Tech (Fiix)
(# Cos: 286 | $374M)
Building Management (Lane)
(# Cos: 204 | $265M)
Building Security Management (iLobby)
(# Cos: 27 | $113M)
Visitor Management (Traction
Guest)
(# Cos: 25 | $113M)
Traction Guest
(2015, Burnaby, $13.0M)
iLobby
(2015, North York, $100M)
MyLobby
(2005, Burlington)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
iLobby (2015, North York)
$100M - Series D - Jan 2021

31. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Tutoring Platforms for Schools - Canada
23
31
Back to index
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$100M(▲1233%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$109M
3
-
3
2
K-12 EdTech (Smart Technologies)
(# Cos: 401 | $486M)
B2B2C Learning Solutions (EssayJack)
(# Cos: 50 | $236M)
School Curriculum (Prodigy)
(# Cos: 28 | $235M)
Multi Subject (Paper)
(# Cos: 22 | $110M)
Online Tutoring (GradeSlam)
(# Cos: 3 | $109M)
GradeSlam
(2014, Montreal, $9.1M)
Paper
(2010, Montreal, $100M)
YOURIKA
(2016, Toronto)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Paper (2010, Montreal)
$100M - Series C - Jun 2021

32. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Sales Productivity Tools - Canada
24
32
Back to index
Sales Force Automation (Varicent)
(# Cos: 365 | $908M)
Productivity Tools (Dooly)
(# Cos: 22 | $109M)
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$97.0M(▲2839%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$109M
8
-
22
1
Dooly
(2014, Vancouver, $105M)
Agendize
(2004, Montreal, $3.3M)
ContactMonkey
(2010, Toronto, $800K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Dooly (2014, Vancouver)
$80.0M - Series B - May 2021
Dooly (2014, Vancouver)
$17.0M - Series A - Mar 2021

33. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Remote Medication Dispensing Systems
- Canada
25
33
Back to index
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$97.0M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$147M
1
-
3
1
Pharmacy IT (Pocketpills)
(# Cos: 71 | $183M)
Dispensing Management (ZoomMed)
(# Cos: 20 | $150M)
Drugs Delivery (Fullscript)
(# Cos: 10 | $149M)
Dispensing Systems (Optel Group)
(# Cos: 7 | $149M)
Remote Dispensing (MedAvail)
(# Cos: 3 | $147M)
MedAvail
(2012, Mississauga, $147M)
GSL Solutions
(2000, Vancouver)
PK+ Telehealth Suite
(2010, Markham)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
MedAvail (2012, Mississauga)
$97.0M - Series D - Nov 2020

34. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Patient derived Cancer Cell Models -
Canada
26
34
Back to index
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$85.0M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$91.0M
1
-
2
1
Life Sciences Platforms and Tools (Acorn)
(# Cos: 320 | $742M)
Research Assays (Menten)
(# Cos: 21 | $210M)
Drug Discovery (AbCellera)
(# Cos: 11 | $210M)
Organoid Models (Apricell Biotechnology)
(# Cos: 2 | $91.0M)
Patient derived Cancer Cell Models
(Notch Therapeutics)
(# Cos: 2 | $91.0M)
Notch Therapeutics
(2018, Toronto, $91.0M)
Apricell Biotechnology
(2021, Victoria)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Notch Therapeutics (2018, Toronto)
$85.0M - Series A - Feb 2021

35. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Hotel Metasearch Engines - Canada
27
35
Back to index
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$84.7M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$115M
1
-
1
1
Online Travel (Hopper)
(# Cos: 338 | $904M)
Accommodation (Keycafe)
(# Cos: 40 | $144M)
Hotel (Vicinnity)
(# Cos: 7 | $115M)
Metasearch (Snaptravel)
(# Cos: 1 | $115M)
Snaptravel
(2016, Toronto, $115M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Snaptravel (2016, Toronto)
$84.7M - Series B - Mar 2021

36. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Waabi (2021, Toronto)
$83.5M - Series A - Jun 2021
Autonomous Trucks - Canada
28
36
Back to index
Autonomous Vehicles (LeddarTech)
(# Cos: 21 | $290M)
Self Driving Technology (RobotCrew)
(# Cos: 2 | $83.5M)
Trucks (Waabi)
(# Cos: 1 | $83.5M)
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$83.5M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$83.5M
1
-
1
0
Waabi
(2021, Toronto, $83.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

37. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
SMB Accounting - Canada
29
37
Back to index
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$80.8M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$236M
2
-
45
1
Finance & Accounting Tech (Symend)
(# Cos: 410 | $1.3B)
Accounting Solutions (Replicon)
(# Cos: 249 | $685M)
Accounting Suite (Wave)
(# Cos: 61 | $236M)
SMBs (FreshBooks)
(# Cos: 45 | $236M)
FreshBooks
(2003, Toronto, $154M)
Wave
(2010, Toronto, $82.4M)
Acceo
(1988, Montreal)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
FreshBooks (2003, Toronto)
$80.8M - Series E - Aug 2021

38. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
FreshBooks (2003, Toronto)
$80.8M - Series E - Aug 2021
Accounting and Invoicing - Canada
30
38
Back to index
Freelancer IT (Invoice Simple)
(# Cos: 21 | $236M)
Financial Solutions (Wave)
(# Cos: 8 | $236M)
Accounting and Invoicing (FreshBooks)
(# Cos: 5 | $236M)
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$80.8M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$236M
3
-
5
1
FreshBooks
(2003, Toronto, $154M)
Wave
(2010, Toronto, $82.4M)
Invoice Simple
(2014, Vancouver)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

39. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Gene Therapy Drugs - Canada
31
39
Back to index
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$80.0M(▲ >10K%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$246M
14
2
24
2
Genomics (Affinor Growers)
(# Cos: 302 | $1.2B)
Applied Genomics (Repare Therapeutics)
(# Cos: 177 | $971M)
Clinical Genomics (Deep Genomics)
(# Cos: 79 | $903M)
Therapeutics (Arbutus Bio)
(# Cos: 24 | $246M)
Arbutus Bio
(2007, Burnaby, $10.0M)
Turnstone Biologics
(2015, Ottawa, $172M)
DelMar Pharmaceuticals
(2010, Vancouver)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Turnstone Biologics (2015, Ottawa)
$80.0M - Series D - Jul 2021
Mesentech (2016, Vancouver)
Undisclosed - Seed - Nov 2020

40. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Backup and Disaster Recovery - Canada
32
40
Back to index
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$79.9M( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$146M
6
-
18
1
IT Operations (Auvik)
(# Cos: 144 | $467M)
ITSM (Clickfree)
(# Cos: 66 | $154M)
Continuity Management (Mover)
(# Cos: 30 | $150M)
Backup and Disaster Recovery
(Rewind)
(# Cos: 18 | $146M)
Rewind
(2015, Ottawa, $79.9M)
Clickfree
(2005, Toronto, $32.5M)
Storage Appliance Corp
(2006, Richmond Hill, $33.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Rewind (2015, Ottawa)
$65.0M - Series B - Sep 2021
Rewind (2015, Ottawa)
$14.9M - Series A - Jan 2021

41. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Canada Drives (2010, Vancouver)
$79.4M - Series B - Aug 2021
Vehicle Loans Distribution Platforms -
Canada
33
41
Back to index
Auto E-Commerce & Content (AutoTrader.ca)
(# Cos: 261 | $232M)
Financing (RightRide)
(# Cos: 29 | $159M)
Aggregator (Canada Drives)
(# Cos: 24 | $159M)
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$79.4M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$159M
1
-
24
0
Canada Drives
(2010, Vancouver, $159M)
AutoloansForEveryDriver
(2007, Mississauga)
Canada Car Loans
(2011, Dartmouth)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

42. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Internet First Auto Loan Marketplaces -
Canada
34
42
Back to index
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$79.4M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$159M
1
-
22
0
Alternative Lending (Borrowell)
(# Cos: 344 | $1.2B)
Online Lenders (Financeit)
(# Cos: 249 | $1.2B)
Consumer Loans (Mogo.ca)
(# Cos: 154 | $633M)
Auto Loans ( AutoloansForEveryDriver)
(# Cos: 26 | $159M)
Marketplace (Canada Drives)
(# Cos: 22 | $159M)
Canada Drives
(2010, Vancouver, $159M)
AutoloansForEveryDriver
(2007, Mississauga)
Canada Car Loans
(2011, Dartmouth)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Canada Drives (2010, Vancouver)
$79.4M - Series B - Aug 2021

43. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Ecommerce Payment Software - Canada
35
43
Back to index
E-Commerce Enablers (Shopify)
(# Cos: 283 | $515M)
Payments (Paystone)
(# Cos: 7 | $144M)
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$78.3M( -- )
3( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$144M
4
-
7
1
Paystone
(2009, London, $99.0M)
Ethoca
(2005, Toronto, $45.0M)
E-xact
(1998, Vancouver)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Paystone (2009, London)
$54.4M - Series C - Jan 2021
Paystone (2009, London)
$23.9M - Series C - Jul 2021
E-xact (1998, Vancouver)
Undisclosed - PE - Nov 2020

44. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Retail Stores Software Suite - Canada
36
44
Back to index
In Store Retail Tech (Solink)
(# Cos: 221 | $658M)
Suite (Lightspeed)
(# Cos: 19 | $391M)
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$78.3M( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$391M
5
2
19
1
Lightspeed
(2005, Montreal, $292M)
Paystone
(2009, London, $99.0M)
Mobi724
(2012, Montreal)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Paystone (2009, London)
$54.4M - Series C - Jan 2021
Paystone (2009, London)
$23.9M - Series C - Jul 2021

45. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Paystone (2009, London)
$54.4M - Series C - Jan 2021
Paystone (2009, London)
$23.9M - Series C - Jul 2021
ERP for Offline Retailers - Canada
37
45
Back to index
ERP (ReCollect)
(# Cos: 370 | $578M)
Retail (Paystone)
(# Cos: 51 | $399M)
Offline (Lightspeed)
(# Cos: 18 | $391M)
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$78.3M( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$391M
3
1
18
1
Lightspeed
(2005, Montreal, $292M)
Paystone
(2009, London, $99.0M)
Signifi
(2005, Mississauga)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

46. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Paystone (2009, London)
$54.4M - Series C - Jan 2021
Paystone (2009, London)
$23.9M - Series C - Jul 2021
Business Payments Solutions - Canada
38
46
Back to index
Payments (Borrowell)
(# Cos: 366 | $892M)
Business Payments (Ackroo)
(# Cos: 204 | $210M)
Diversified (Paystone)
(# Cos: 22 | $99.0M)
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$78.3M( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$99.0M
4
1
22
1
Paystone
(2009, London, $99.0M)
Helcim
(2006, Calgary)
Mobetize
(2012, Vancouver)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

47. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Jobber (2011, Edmonton)
$60.0M - Series C - Jan 2021
ServiceBox (2014, Regina)
$469K - Seed - Dec 2020
PodiumIO (2017, Montreal)
Undisclosed - Seed - Feb 2021
Field force solutions for Home Service
Businesses - Canada
39
47
Back to index
Field Force Automation (WorkJam)
(# Cos: 264 | $305M)
Home Services (Vonigo)
(# Cos: 25 | $70.0M)
Suite (Jobber)
(# Cos: 15 | $70.0M)
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$60.5M( -- )
3( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$70.0M
5
-
15
1
Jobber
(2011, Edmonton, $66.5M)
Vonigo
(2010, Vancouver, $2.0M)
ServiceEcho
(2009, Toronto)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

48. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Food Ordering Platforms - Canada
40
48
Back to index
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$60.0M(▲28.3%)
2(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
4
$238M
9
1
50
2
Food Tech (Lightspeed)
(# Cos: 518 | $945M)
Food Discovery and Ordering (PlantX)
(# Cos: 163 | $241M)
Restaurant Aggregator (Ritual)
(# Cos: 75 | $238M)
Platform Delivered
(SkipTheDishes)
(# Cos: 50 | $238M)
SkipTheDishes
(2013, Winnipeg, $25.0M)
Ritual
(2014, Toronto, $135M)
PlantX
(2019, Vancouver)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Fantuan (2014, Burnaby)
$35.0M - Series B - Jan 2021
SkipTheDishes (2013, Winnipeg)
$25.0M - Series B - Dec 2020

49. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Kepler (2015, Toronto)
$60.0M - Series B - Jun 2021
Satellite Communication Services -
Canada
41
49
Back to index
NewSpace (UrtheCast)
(# Cos: 43 | $241M)
Space Services (GHGSat)
(# Cos: 15 | $228M)
Communication (Kepler)
(# Cos: 6 | $94.0M)
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$60.0M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$94.0M
4
1
6
1
Kepler
(2015, Toronto, $90.0M)
exactEarth
(2009, Cambridge, $36.4K)
Helios Wire
(2016, Vancouver, $4.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

50. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Kepler (2015, Toronto)
$60.0M - Series B - Jun 2021
Satellite IoT Connectivity - Canada
42
50
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Internet of Things Infrastructure (Peraso)
(# Cos: 140 | $312M)
IoT Connectivity (eleven-x)
(# Cos: 26 | $96.7M)
Satellite (Kepler)
(# Cos: 1 | $90.0M)
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$60.0M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$90.0M
1
-
1
1
Kepler
(2015, Toronto, $90.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

51. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Bench (2012, Vancouver)
$60.0M - Series C - Jun 2021
Online Accounting Services - Canada
43
51
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Finance & Accounting Tech (FreshBooks)
(# Cos: 410 | $1.3B)
Tech-Enabled Services (H&R Block Canada)
(# Cos: 63 | $115M)
Accounting & Bookkeeping (Bench)
(# Cos: 39 | $115M)
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$60.0M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$115M
1
-
39
1
Bench
(2012, Vancouver, $115M)
SureBooks Business Ser..
(2015, Mississauga)
Think Accounting
(2017, Mississauga)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

52. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Crypto Trading Platforms - Canada
44
52
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Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$58.0M(▲ >10K%)
3(▲200%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$96.7M
11
-
42
1
Cryptocurrencies (Hut 8 Mining)
(# Cos: 496 | $241M)
Financial Services (AtomicLoans)
(# Cos: 329 | $174M)
Investment Industry (KNOX)
(# Cos: 232 | $115M)
Online Trading Platforms (3Commas)
(# Cos: 68 | $99.8M)
Regular Trading (Coinsquare)
(# Cos: 42 | $96.7M)
Coinsquare
(2014, Toronto, $94.7M)
Quantfury
(2017, Toronto)
StellarX
(2014, Toronto)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Coinsquare (2014, Toronto)
$56.4M - Series C - Feb 2021
CatalX (2017, Vancouver)
$1.6M - Seed - Feb 2021
Coinsquare (2014, Toronto)
Undisclosed - Series C - Jun 2021

53. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Dapp Development Platforms - Canada
45
53
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Blockchain Infrastructure (HIVE Blockchain
Technologies)
(# Cos: 79 | $109M)
Application Development Platforms
(QuikNode)
(# Cos: 17 | $60.5M)
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$58.0M( -- )
5( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$60.5M
6
-
17
1
QuikNode
(2017, Toronto, $5.5M)
Figment
(2018, Toronto, $55.0M)
Blockchain Innovations
(2018, Toronto)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Figment (2018, Toronto)
$50.0M - Series B - Aug 2021
QuikNode (2017, Toronto)
$5.3M - Series A - Mar 2021
Figment (2018, Toronto)
$2.5M - Series A - Oct 2020
QuikNode (2017, Toronto)
$125K - Seed - Jan 2021
QuikNode (2017, Toronto)
Undisclosed - Seed - Jan 2021

54. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Rates.ca (2014, Toronto)
$51.0M - Series C - Mar 2021
Foxquilt (2016, Toronto)
$6.3M - Series A - Sep 2021
Insurance Comparison Platforms -
Canada
46
54
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Internet First Insurance Platforms (Zensurance)
(# Cos: 118 | $135M)
Insurance Comparison Platforms (Borrowell)
(# Cos: 76 | $122M)
Diversified (Rates.ca)
(# Cos: 36 | $63.6M)
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$57.3M(▲2102%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$63.6M
4
-
36
2
Rates.ca
(2014, Toronto, $51.0M)
Foxquilt
(2016, Toronto, $11.1M)
EasyInsure
(2007, Windsor)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

55. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
ADA Compliance - Canada
47
55
Back to index
Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$55.0M(▲244%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$71.0M
1
-
1
1
GRC Software (OpenText)
(# Cos: 214 | $1.0B)
Compliance (Verafin)
(# Cos: 141 | $838M)
IT Compliance (CryptoNumerics)
(# Cos: 17 | $85.7M)
ADA Compliance (eSSENTIAL
ACCESSIBILITY)
(# Cos: 1 | $71.0M)
eSSENTIAL ACCESSIBILITY
(2007, Toronto, $71.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
eSSENTIAL ACCESSIBI.. (2007, Toronto)
$55.0M - Series C - May 2021

56. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Internet First Inner Wear Brands -
Canada
48
56
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Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$53.0M(▲830%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$58.7M
2
-
8
1
Fashion Tech (Mejuri)
(# Cos: 700 | $403M)
B2C Commerce (Frank And Oak)
(# Cos: 648 | $389M)
Apparel (Sheertex)
(# Cos: 293 | $164M)
Inner Wear (Silly B Intimates)
(# Cos: 20 | $58.7M)
Multi Category (Cupshe)
(# Cos: 19 | $58.7M)
Men and Women (UNDZ)
(# Cos: 15 | $58.7M)
Internet First Brand (Knix)
(# Cos: 8 | $58.7M)
Knix
(2012, Toronto, $58.7M)
UNDZ
(2010, Montreal)
Silly B Intimates
(2015, Toronto)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Knix (2012, Toronto)
$53.0M - Series B - May 2021

57. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Internet First Invoice Financing - Canada
49
57
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Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$50.0M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$65.5M
1
-
2
1
Alternative Lending (Borrowell)
(# Cos: 344 | $1.2B)
Online Lenders (Mogo.ca)
(# Cos: 249 | $1.2B)
Business Loans (Clearco)
(# Cos: 48 | $467M)
Trade Finance (DM Chain)
(# Cos: 4 | $65.5M)
Invoice Financing (Frontline Capital)
(# Cos: 3 | $65.5M)
Direct Lender (FundThrough)
(# Cos: 2 | $65.5M)
FundThrough
(2014, Toronto, $65.5M)
June
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
FundThrough (2014, Toronto)
$50.0M - Series B - Oct 2020

58. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Media Over IP Solutions - Canada
50
58
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Taxonomy
$ Invested in last 1 year in Canada Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$47.8M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$87.8M
1
-
5
1
Tech for Film & TV (Voices)
(# Cos: 125 | $153M)
Broadcasting (Haivision)
(# Cos: 32 | $113M)
Media Delivery (International
Datacasting)
(# Cos: 5 | $87.8M)
Media over IP (Dejero)
(# Cos: 5 | $87.8M)
Dejero
(2008, Waterloo, $87.8M)
International Datacast..
(1984, Ottawa)
Mariner xVu
(2003, Saint John)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Dejero (2008, Waterloo)
$47.8M - Series C - Apr 2021

59. Canada Tech - Top Business Models Report Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
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Canada Tech - Top Business Models Report
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