2048 Top startups in Toronto for April 2025

We rank Wattpad, StackAdapt and Tailscale in Toronto along with 2045 other startups based on an algorithm that scores startups based on total investment, employee count, and quarterly website traffic. Toronto startup ecosystem ranks #22 globally and #1 in Canada.

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Top Unicorn Startups in Toronto for 2025

Nine startups have achieved unicorn status by exceeding USD 1 billion in valuation. Collectively, the top three unicorns in Toronto have raised more than USD 13.4B.
SB Score:726

1Password is a secure password manager that provides businesses and families with a safe way to share passwords, credit cards, and documents. It keeps important information secure with AES 256-bit encryption. They allow users to keep the information easily organized with convenient categories and tags and find what they need with a customizable search. Founded in 2005, 1Password remembers and fills web forms with passwords, credit card information, and addresses—with a single click. It is focused on making security convenient and keeping customers happy. It is headquartered in Toronto, Ontario in Canada.

Industry:
Software & Data
Subindustry:
Apps

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SB Score:687

Wealthsimple Inc. offers investment services through its affiliates, providing Invest and Smart Savings products to users across Canada. As a registered portfolio manager in every province and territory, Wealthsimple Inc. enables individuals to easily manage and grow their finances.

Industry:
Fintech
Subindustry:
Fintech-Other

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SB Score:622

FreshBooks is the go-to accounting software for service-based small businesses, offering professional invoice creation with your own branding. Easily accept credit card payments, track invoice views, create estimates, and send recurring invoices to clients. Simplify your accounting with FreshBooks.

Industry:
Software & Data
Subindustry:
SaaS

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Total amount:9

Best Startups in Toronto for 2025

SB Score:772

Wattpad is a digital entertainment company providing an online social storytelling platform for original stories. The company utilizes the power of community and technology to enable the creation and distribution of content across a variety of formats. Its flagship app, Wattpad, is home to a community of more than 65 million people who spend over 20 billion minutes a month engaged in original stories. Tap by Wattpad, the company’s second storytelling product, offers short, chat-based stories in over a dozen languages. Wattpad Studios co-produces stories for film, television, digital, and print, together with industry partners. Wattpad Brand Solutions offers a full suite of advertising products to help brands build deep engagement with Millennial and Gen Z consumers. It was established by Allen Lau and Ivan Yuen in Toronto, Ontario, Canada in 2006.

Industry:
Software & Data
Subindustry:
Apps

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SB Score:699

StackAdapt is an intuitive advertising platform that provides native, display, video, connected TV, and audio ad solutions. By integrating advanced machine learning with an exceptional user experience, it stands out as a premier choice for comprehensive multi-channel advertising needs.

Industry:
Software & Data
Subindustry:
Artificial Intelligence

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SB Score:618

Tailscale simplifies building and managing private networks with their innovative corporate VPN alternative. Connect securely and seamlessly with ease.

Industry:
Software & Data
Subindustry:
Cybersecurity

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4th

Kik
SB Score:616

Kik allows users to connect with friends, groups, and the world through chat. Simply ask for someone's Kik to start chatting! Brands and content providers can also engage with their audience and attract new followers. Join the conversation and discover new ways to interact with others on Kik.

Industry:
Social & Leisure
Subindustry:
Social Media

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SB Score:615

KOHO Financial provides an application-based banking platform to simplify financial products available to everyone. Its platform helps users to complete their day-to-day banking operations while offering tools such as goals, cash flow projections, group spending, spending insights, and categorizations to let users manage their expenses and banking operations on the go. The company was founded in 2014 and is headquartered in Toronto, Ontario.

Industry:
Fintech
Subindustry:
Financial Services

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SB Score:607

Ideogram is an innovative artificial intelligence startup specializing in generative text-to-image technology. It empowers users to effortlessly transform textual descriptions into captivating images, enhancing creativity and visual storytelling across various applications, from marketing to art.

Industry:
Software & Data
Subindustry:
Artificial Intelligence

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SB Score:593

LifeLabs, a Canadian-owned company with over 50 years of experience, is dedicated to meeting the healthcare needs of Canadians.

Industry:
Healthtech
Subindustry:
Biotechnology

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8th

Q4
SB Score:589

Q4 is a SaaS platform offering investor relations professionals communication and intelligence solutions. It helps users streamline their investor communications and gain valuable insights to make informed decisions.

Industry:
Marketing & Sales
Subindustry:
CRM

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SB Score:581

Borrowell helps consumers make great choices about their credit. With its free credit score monitoring, personal loans and product recommendations, Borrowell empowers Canadians to improve their financial well-being and be the hero of their credit.

Industry:
Fintech
Subindustry:
Financial Services

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10th

Mejuri
SB Score:565

Mejuri offers handcrafted, everyday fine jewelry without the retail markup. Their direct-to-consumer model ensures high-quality pieces at accessible prices.

Industry:
Ecommerce & Retail
Subindustry:
Ecommerce

National Rank (Canada)

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11th

GoBolt
SB Score:562

Founded in 2017, GoBolt is a technology company building the first sustainable and vertically integrated supply chain network that partners with merchants to deliver a complete end-to-end customer experience. By operating as an extension of each merchant’s team, GoBolt provides reliable warehousing, pick and pack, shipping, and last mile delivery. With a growing network of warehouses across North America and a suite of proprietary apps designed and supported by an in-house engineering team, GoBolt unlocks enhanced transparency and control for merchants. The company’s focus on customer-centricity is further driven by a deep commitment to sustainability. GoBolt’s investment in its electric vehicle fleet and sustainability partnerships is a testament to the company’s mission to provide carbon neutral deliveries. For more information, visit GoBolt.com.

Industry:
Ecommerce & Retail
Subindustry:
Ecommerce

National Rank (Canada)

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Total amount:2048

Top 768 Software & Data Startups in Toronto for 2025

The top three Software & Data startups in Toronto have raised more than USD 1.59B. Toronto startup ecosystem ranks #13 globally for the Software & Data industry.
SB Score:772

Wattpad is a digital entertainment company providing an online social storytelling platform for original stories. The company utilizes the power of community and technology to enable the creation and distribution of content across a variety of formats. Its flagship app, Wattpad, is home to a community of more than 65 million people who spend over 20 billion minutes a month engaged in original stories. Tap by Wattpad, the company’s second storytelling product, offers short, chat-based stories in over a dozen languages. Wattpad Studios co-produces stories for film, television, digital, and print, together with industry partners. Wattpad Brand Solutions offers a full suite of advertising products to help brands build deep engagement with Millennial and Gen Z consumers. It was established by Allen Lau and Ivan Yuen in Toronto, Ontario, Canada in 2006.

Industry:
Software & Data
Subindustry:
Apps

National Rank (Canada)

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Regional Rank (North America)

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SB Score:699

StackAdapt is an intuitive advertising platform that provides native, display, video, connected TV, and audio ad solutions. By integrating advanced machine learning with an exceptional user experience, it stands out as a premier choice for comprehensive multi-channel advertising needs.

Industry:
Software & Data
Subindustry:
Artificial Intelligence

National Rank (Canada)

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SB Score:618

Tailscale simplifies building and managing private networks with their innovative corporate VPN alternative. Connect securely and seamlessly with ease.

Industry:
Software & Data
Subindustry:
Cybersecurity

National Rank (Canada)

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Total amount:768

Top 243 Fintech Startups in Toronto for 2025

The top three Fintech startups in Toronto have raised more than USD 987M. Toronto startup ecosystem ranks #19 globally for the Fintech industry.
SB Score:615

KOHO Financial provides an application-based banking platform to simplify financial products available to everyone. Its platform helps users to complete their day-to-day banking operations while offering tools such as goals, cash flow projections, group spending, spending insights, and categorizations to let users manage their expenses and banking operations on the go. The company was founded in 2014 and is headquartered in Toronto, Ontario.

Industry:
Fintech
Subindustry:
Financial Services

National Rank (Canada)

0

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Regional Rank (North America)

0

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Global Rank (WorldWide)

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SB Score:581

Borrowell helps consumers make great choices about their credit. With its free credit score monitoring, personal loans and product recommendations, Borrowell empowers Canadians to improve their financial well-being and be the hero of their credit.

Industry:
Fintech
Subindustry:
Financial Services

National Rank (Canada)

0

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Regional Rank (North America)

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SB Score:542

Relay is a digital bank tailor-made for small businesses on the rise. It offers streamlined financial services to help businesses grow and thrive.

Industry:
Fintech
Subindustry:
Online Banking

National Rank (Canada)

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Regional Rank (North America)

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Total amount:243

Top 239 Ecommerce & Retail Startups in Toronto for 2025

The top three Ecommerce & Retail startups in Toronto have raised more than USD 408M. Toronto startup ecosystem ranks #24 globally for the Ecommerce & Retail industry.
SB Score:565

Mejuri offers handcrafted, everyday fine jewelry without the retail markup. Their direct-to-consumer model ensures high-quality pieces at accessible prices.

Industry:
Ecommerce & Retail
Subindustry:
Ecommerce

National Rank (Canada)

0

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Regional Rank (North America)

0

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Global Rank (WorldWide)

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SB Score:562

Founded in 2017, GoBolt is a technology company building the first sustainable and vertically integrated supply chain network that partners with merchants to deliver a complete end-to-end customer experience. By operating as an extension of each merchant’s team, GoBolt provides reliable warehousing, pick and pack, shipping, and last mile delivery. With a growing network of warehouses across North America and a suite of proprietary apps designed and supported by an in-house engineering team, GoBolt unlocks enhanced transparency and control for merchants. The company’s focus on customer-centricity is further driven by a deep commitment to sustainability. GoBolt’s investment in its electric vehicle fleet and sustainability partnerships is a testament to the company’s mission to provide carbon neutral deliveries. For more information, visit GoBolt.com.

Industry:
Ecommerce & Retail
Subindustry:
Ecommerce

National Rank (Canada)

0

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Regional Rank (North America)

0

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SB Score:534

Flashfood offers discounted surplus food from grocery stores through a mobile platform, connecting users to savings and reducing food waste. Enjoy huge savings while helping the environment by accessing quality food at a fraction of the cost.

Industry:
Ecommerce & Retail
Subindustry:
Ecommerce

National Rank (Canada)

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Total amount:239

Most Funded Startups in Toronto for 2025

The top three most funded startups in Toronto have raised total funding of more than USD 2.29B. Hydrostor has 0.52% more funding than KOHO Financial.
SB Score:485

Hydrostor develops Advanced Compressed Air Energy Storage (A-CAES), a clean, affordable, and long-lasting energy storage solution.

Industry:
Energy & Environment
Subindustry:
Energy

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SB Score:615

KOHO Financial provides an application-based banking platform to simplify financial products available to everyone. Its platform helps users to complete their day-to-day banking operations while offering tools such as goals, cash flow projections, group spending, spending insights, and categorizations to let users manage their expenses and banking operations on the go. The company was founded in 2014 and is headquartered in Toronto, Ontario.

Industry:
Fintech
Subindustry:
Financial Services

National Rank (Canada)

0

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Regional Rank (North America)

0

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SB Score:453

Waabi is an artificial intelligence company that develops autonomous driving technology for the transportation sector. It offers a self-driving solution known as the Waabi Driver, designed for integration with trucks and aimed at large-scale commercialization and safe deployment. The company primarily serves the logistics and transportation industries with its autonomous trucking solutions The company was founded in 2021 by Raquel Urtasun and is based in Toronto, Canada.

Industry:
Software & Data
Subindustry:
Artificial Intelligence

National Rank (Canada)

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Regional Rank (North America)

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Global Rank (WorldWide)

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Total amount:2048

Top Hiring Startups in Toronto by Employee Number

The top three hiring startups in Toronto have an median employee size that is between [10001+]
SB Score:405

SoftCom Group is a provider of cloud hosting, email and business communications services worldwide, serving tens of thousands of businesses through its family of Internet brands. The Group leverages Internet Data Centers around the world and is delivers a complete set of solutions to the small to medium size business market from domain names, shared hosting, business email & collaboration, virtual private server, dedicated servers to SEO, website design, online marketing and complex managed hosting solutions.

Industry:
Hardware & IoT
Subindustry:
Internet of Everything

National Rank (Canada)

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SB Score:332

Thoughtworks Canada is revolutionizing the world through their innovative culture and technology expertise. They create significant impact by combining cutting-edge technology with their unique approach to problem-solving.

Industry:
Software & Data
Subindustry:
Software

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SB Score:170

OnTab simplifies mobile payments for merchants by seamlessly integrating with existing payment terminals. It is an open platform that connects various payment processors, banks, loyalty programs, and more. No new hardware or POS integration is required, making it easy for businesses to start accepting mobile payments.

Industry:
Fintech
Subindustry:
Payments

National Rank (Canada)

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SB Score:593

LifeLabs, a Canadian-owned company with over 50 years of experience, is dedicated to meeting the healthcare needs of Canadians.

Industry:
Healthtech
Subindustry:
Biotechnology

National Rank (Canada)

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Regional Rank (North America)

0

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Global Rank (WorldWide)

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Total amount:2048

Explore the Startup Ecosystem of Toronto

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9th

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Global Rank

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22nd

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Top Cities for Startups in Canada - Ranked by StartupBlink

StartupBlink ranks the startup ecosystems of more than 100 countries and 1,000 cities. Download our latest Global Startup Ecosystem Report.
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2024 National Rank CityGlobal Rank
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Total Score

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Quantity Score
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Quality Score
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Business Score
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22nd
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36.732
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40th
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20.495
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43rd
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17.743
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10.193
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8.588
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7.280
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4.542
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148th
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4.366
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3.232
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1
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6
2.118
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