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Narwhal list 2019


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We’ve updated the Narwhal List and released a new report for 2019. Canada’s tech community continues to make progress but we haven’t created a new Unicorn since 2015. The Technology sector has doubled the number of companies that are on track to become Unicorns but the healthcare sector continues its slow decline.

Published in: Technology
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Narwhal list 2019

  1. 1. The Narwhal List 2019 Another year of progress in Canada’s tech community
  2. 2. Highlights 2 • 17 new companies • Double the number from last year with Unicorn potential • Great progress inTechnology companies (software etc.) • Healthcare tech companies continue to decline on the list
  3. 3. Leading Narwhals 3
  4. 4. Financial Velocity • The Narwhal List ranks firms by FinancialVelocity • FinancialVelocity is the amount of funding a firm has raised divided by the number of years it has been in existence. • It is expressed in millions of dollars per year. • This measure reports the rate at which companies raise and consume capital to support their growth. 4 FinancialVelocity = Capital Raised/Years in Existence
  5. 5. Narwhal Profile 5
  6. 6. 6 Narwhal List over Time
  7. 7. No New Unicorns 7 • No Unicorns since Kik Interactive became one in 2015 • We should be creating 2 a year • We should have 10 on the list