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1. TRACXN TOP BUSINESS MODELS REPORT
February 21, 2022
CANADA TECH

2. Canada Tech - Top Business Models Report Copyright © 2022, 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 © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Funding in last 1 year
3
Investment Tech $844M
HRTech $727M
PC & Console Gaming $685M
Data Center Infrastructure $488M
Sales Force Automation $477M
Digital ICs $433M
Y-o-Y Funding
Top Investors by Funding Rounds
Seed
Stage
Y Combinator
BDC
Real Ventures
28
9
8
Early
Stage
BDC
Golden Ventures
Inovia Capital
24
13
11
Late
Stage
BDC
Inovia Capital
Fidelity Investments
13
5
4
Funding by Geography
Top Feeds by $ Funding
Top Funding Rounds
$ Funding # Rounds
Wealthsimple
(2014, Toronto)
$610M - Series F
eStruxture
(2017, Montreal)
$488M - Series B
Trulioo
(2011, Vancouver)
$394M - Series D
Assent Compliance
(2010, Ottawa)
$350M - Series D
ApplyBoard
(2015, Kitchener)
$310M - Series D
Dapper Labs
(2018, Vancouver)
$305M - Series C
Paper
(2014, Montreal)
$270M - Series D
Dapper Labs
(2018, Vancouver)
$250M - Series C
Hydrostor
(2010, Toronto)
$250M - Series D
Vena
(2011, Toronto)
$241M - Series C
Fullscript
(2011, Ottawa)
$240M - PE
Clearco
(2015, Toronto)
$215M - Series D
Toronto (39%)
Vancouver (19%)
Montreal (16%)
Ottawa (6%)
Kitchener (3%)
Others (16%)

4. Copyright © 2022, 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<> 0 PC and Console Core NFT Game Developers $585M 4 Dapper Labs | $305M | 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▲87 ERP for Schools $373M 3 Paper | $270M | Series D Link
6▲87 Tutoring Platforms for Schools $370M 2 Paper | $270M | Series D Link
7-- Supply Chain Compliance Management $350M 1 Assent Compli.. | $350M | Series D Link
8-- Supply Chain Compliance $350M 1 Assent Compli.. | $350M | Series D Link
9-- Internet First Revenue Based Financing $315M 2 Clearco | $215M | Series D Link
10-- Workforce Scheduling Software $306M 4 When I Work | $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 © 2022, 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▼9 Drugs for Multiple Cancer Types $296M 5 Virogin Biotech | $120M | Series D Link
12-- Compressed Air Energy Storage Systems $258M 2 Hydrostor | $250M | Series D Link
13▲40
Internet First Retail Banks with Partner Bank's
License
$257M 5 KOHO | $165M | Series D Link
14-- Financial Planning & Analysis Software $249M 2 Vena | $241M | Series C Link
15-- Project Time Tracking Software $200M 1 When I Work | $200M | Series C Link
16-- Deep Learning Processing Units $200M 1 Tenstorrent | $200M | Series C Link
17-- RFP Software $200M 1 Loopio | $200M | Series B Link
18▲44 Sequencing-based Genomic Precision Medicine $188M 2 Deep Genomics | $180M | Series C Link
19--
Healthcare IT > Provider > Hospital Information
Systems > PM & EHR Platforms > Home Care Mana..
$182M 1 AlayaCare | $182M | Series D Link
20-- Genomics Sequencing Analysis Software $180M 2 Deep Genomics | $180M | 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 © 2022, 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-- Genome Data and Insights $180M 1 Deep Genomics | $180M | Series C Link
22▲115 Online Used Cars Dealers $179M 3 Clutch | $80.0M | Series B Link
23▲153 Dapp Development Platforms $165M 3 Figment | $110M | Series C Link
24-- Employee Insurance Benefits Administration $165M 2 League | $95.0M | Series C Link
25▲11 Employee Healthcare Benefits Administration $165M 2 League | $95.0M | Series C Link
26▲204 Indoor Farming $163M 2 80 Acres Farms | $160M | Series B Link
27▲260 B2B Building Materials Marketplaces $145M 2 RenoRun | $142M | Series B Link
28-- Employee Data Analytics $132M 2 Visier | $125M | Series E Link
29▲240 Magnetic Confinement Fusion Reactors $130M 1 General Fusion | $130M | Series E Link
30-- LiDAR $116M 1 LeddarTech | $116M | Series D Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

7. Copyright © 2022, 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-- Legal Practice Management $110M 1 Clio | $110M | Series E Link
32-- Application Lifecycle Management $100M 1 Tasktop | $100M | Series C Link
33▲141 P2P Crypto Loans $100M 2 Ledn | $70.0M | Series B Link
34▲141 Crypto Backed Consumer Loans $100M 2 Ledn | $70.0M | Series B Link
35▲119 Sales Productivity Tools $97.0M 2 Dooly | $80.0M | Series B Link
36-- Hotel Metasearch Engines $84.7M 1 Snaptravel | $84.7M | Series B Link
37-- Autonomous Trucks $83.5M 1 Waabi | $83.5M | Series A Link
38-- SMB Accounting $82.3M 3 FreshBooks | $80.8M | Series E Link
39-- Accounting and Invoicing $80.8M 1 FreshBooks | $80.8M | Series E Link
40▲261 Gene Therapy Drugs $80.0M 1 Turnstone Bi.. | $80.0M | Series D Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

8. Copyright © 2022, 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-- Internet First Auto Loan Marketplace $79.4M 1 Canada Drives | $79.4M | Series B Link
42▲233 Company Financials Data $70.0M 1 Canalyst | $70.0M | Series C Link
43▼2 Satellite Based Imaging Services $65.6M 3 GHGSat | $45.0M | Series B Link
44▲21 Backup and Disaster Recovery $65.0M 1 Rewind | $65.0M | Series B Link
45▲19 Competitive Intelligence $62.0M 1 Klue | $62.0M | Series B Link
46▼6 Industrial Sites Emissions Monitoring $61.1M 3 GHGSat | $45.0M | Series B Link
47-- Ecommerce Fulfillment Software $60.2M 1 Bolt | $60.2M | Series B Link
48-- eCommerce Marketing $60.0M 1 Elastic Path.. | $60.0M | Series C Link
49-- Online Accounting Services $60.0M 1 Bench | $60.0M | Series C Link
50-- CPG Brands E-Commerce Software Suite $60.0M 1 Elastic Path.. | $60.0M | 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 © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
PC and Console Core NFT Game
Developers - 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
$585M (▲122%)
4(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$886M
1
-
1
1
PC & Console Gaming (The Sandbox)
(# Cos: 271 | $1.1B)
Game Developers (Frima)
(# Cos: 244 | $943M)
PC & Console Games (Big Viking Games)
(# Cos: 218 | $938M)
Core Games (Jagex)
(# Cos: 74 | $888M)
NFTs (Dapper Labs)
(# Cos: 1 | $886M)
Dapper Labs
(2018, Vancouver, $886M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Dapper Labs (2018, Vancouver)
$305M - Series C - Mar 2021
Dapper Labs (2018, Vancouver)
$250M - Series C - Sep 2021
Dapper Labs (2018, Vancouver)
$23.0M - Series D - Dec 2021
Dapper Labs (2018, Vancouver)
$6.5M - Series C - Dec 2021

10. Copyright © 2022, 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 (Kaloom)
(# Cos: 55 | $997M)
Data Center Providers (iWeb)
(# Cos: 38 | $905M)
Colocation (eStruxture)
(# Cos: 37 | $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
9
1
37
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 © 2022, 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 (Blackberry)
(# Cos: 514 | $1.6B)
IAM (Plurilock)
(# Cos: 106 | $651M)
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 © 2022, 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: 72 | $1.1B)
KYC (Trulioo)
(# Cos: 22 | $548M)
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
$548M
6
2
22
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 © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Paper (2014, Montreal)
$270M - Series D - Feb 2022
Paper (2014, Montreal)
$100M - Series C - Jun 2021
Edunation (2011, Jordan)
$3.0M - Seed - Jun 2021
ERP for Schools - Canada
05
13
Back to index
ERP (Lightspeed)
(# Cos: 405 | $858M)
Education (Kira Talent)
(# Cos: 73 | $412M)
Schools (Paper)
(# Cos: 44 | $386M)
Taxonomy
$ Invested in last 1 year in Canada
Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$373M (▲4873%)
3(▲200%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
4
$386M
12
1
44
2
Paper
(2014, Montreal, $379M)
Mobi724
(2012, Montreal)
KEV Group
(1996, Toronto)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

14. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Tutoring Platforms for Schools - 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
$370M (▲4833%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$379M
2
-
2
1
K-12 EdTech (D2L)
(# Cos: 479 | $756M)
B2B2C Learning Solutions (EssayJack)
(# Cos: 58 | $506M)
School Curriculum (Prodigy)
(# Cos: 33 | $505M)
Multi Subject (eDynamic Learning)
(# Cos: 27 | $380M)
Online Tutoring (Paper)
(# Cos: 2 | $379M)
Paper
(2014, Montreal, $379M)
YOURIKA
(2016, Toronto)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Paper (2014, Montreal)
$270M - Series D - Feb 2022
Paper (2014, Montreal)
$100M - Series C - Jun 2021

15. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Assent Compliance (2010, Ottawa)
$350M - Series D - Jan 2022
Supply Chain Compliance Management -
Canada
07
15
Back to index
SCM Software (Kinaxis)
(# Cos: 145 | $980M)
Visibility & Compliance (Nulogy)
(# Cos: 29 | $525M)
Sustainability & Compliance (Assent
Compliance)
(# Cos: 4 | $498M)
Taxonomy
$ Invested in last 1 year in Canada
Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$350M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$498M
3
-
4
1
Assent Compliance
(2010, Ottawa, $497M)
Ulula
(2003, Toronto, $1.0M)
Lamar
(2018, Vancouver)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

16. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Supply Chain Compliance - Canada
08
16
Back to index
Taxonomy
$ Invested in last 1 year in Canada
Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$350M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$497M
2
-
2
1
GRC Software (FINCAD)
(# Cos: 248 | $1.3B)
Compliance (Verafin)
(# Cos: 168 | $1.2B)
QEHS Compliance (Intelex)
(# Cos: 103 | $643M)
Supply Chain Transparency
(Assent Compliance)
(# Cos: 2 | $497M)
Assent Compliance
(2010, Ottawa, $497M)
Pivot88
(2009, Laval)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Assent Compliance (2010, Ottawa)
$350M - Series D - Jan 2022

17. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Internet First Revenue Based Financing -
Canada
09
17
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: 402 | $1.3B)
Online Lenders (Financeit)
(# Cos: 295 | $1.3B)
Business Loans (FundThrough)
(# Cos: 56 | $462M)
Revenue Based Financing (Timia Capital)
(# Cos: 4 | $385M)
Direct Lender (Clearco)
(# Cos: 3 | $385M)
Clearco
(2015, Toronto, $385M)
Flow Capital
(2014, 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

18. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
When I Work (2010, St. Paul)
$200M - Series C - Nov 2021
7shifts (2011, Regina)
$80.0M - Series C - Feb 2022
7shifts (2011, Regina)
$21.5M - Series B - May 2021
Agendrix (2011, Sherbrooke)
$4.2M - Series A - Jun 2021
Workforce Scheduling Software -
Canada
10
18
Back to index
HRTech (Achievers)
(# Cos: 1197 | $1.9B)
Contingent Workforce Management
(WorkJam)
(# Cos: 102 | $475M)
Employee Scheduling (When I Work)
(# Cos: 55 | $353M)
Taxonomy
$ Invested in last 1 year in Canada
Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$306M ( -- )
4( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$353M
7
-
55
4
When I Work
(2010, St. Paul, $224M)
7shifts
(2011, Regina, $122M)
Voilà
(2015, Quebec City, $3.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

19. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Virogin Biotech (2015, Vancouver)
$120M - Series D - Sep 2021
Virogin Biotech (2015, Vancouver)
$80.0M - Series D - May 2021
Turnstone Biologics (2015, Ottawa)
$80.0M - Series D - Jul 2021
Alpha-9 Theranost.. (2019, Vancouver)
$8.9M - Series A - Apr 2021
Pacylex Pharmaceut.. (2012, Edmonton)
$7.2M - Series A - Jun 2021
Drugs for Multiple Cancer Types -
Canada
11
19
Back to index
Oncology (Fusion Pharmaceuticals)
(# Cos: 170 | $1.7B)
Drugs (Sierra Oncology)
(# Cos: 104 | $1.4B)
Diversified (Zymeworks)
(# Cos: 80 | $1.1B)
Taxonomy
$ Invested in last 1 year in Canada
Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$296M (▲107%)
5(▼44.4%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
10
$1.1B
60
12
80
9
Zymeworks
(2003, Vancouver, $146M)
ESSA Pharma
(2009, Vancouver, $16.4M)
Turnstone Biologics
(2015, Ottawa, $172M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

20. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Hydrostor (2010, Toronto)
$250M - Series D - Jan 2022
Hydrostor (2010, Toronto)
$8.0M - Series C - Aug 2021
Compressed Air Energy Storage Systems
- Canada
12
20
Back to index
Energy Storage Tech (Ballard)
(# Cos: 153 | $714M)
Energy Storage System (Corvus Energy)
(# Cos: 31 | $448M)
Compressed Air (Hydrostor)
(# Cos: 4 | $295M)
Taxonomy
$ Invested in last 1 year in Canada
Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$258M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$295M
2
-
4
1
Hydrostor
(2010, Toronto, $295M)
Piller
(1909, Markham)
Volta Technique
(2018, Waterloo)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

21. Copyright © 2022, 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
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
$257M (▲1210%)
5(▲150%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$359M
6
-
13
2
Banking Tech (Borrowell)
(# Cos: 184 | $798M)
Internet First Banks (KOHO)
(# Cos: 28 | $400M)
Through Bank Partnerships (NorthOne)
(# Cos: 18 | $400M)
Retail Banking (Neo Financial)
(# Cos: 13 | $359M)
Neo Financial
(2018, Calgary, $90.0M)
KOHO
(2014, Toronto, $264M)
Jefa
(2020, $2.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
KOHO (2014, Toronto)
$165M - Series D - Feb 2022
Neo Financial (2018, Calgary)
$50.5M - Series B - Sep 2021
KOHO (2014, Toronto)
$39.5M - Series C - Mar 2021
Jefa (2020)
$2.0M - Seed - Nov 2021
Wingocard (2019, Montreal)
$1.7M - Seed - May 2021

22. Copyright © 2022, 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
14
22
Back to index
Finance & Accounting Tech (FreshBooks)
(# Cos: 457 | $1.3B)
Financial Planning & Analysis (Prophix)
(# Cos: 59 | $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 ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$405M
5
-
11
2
Vena
(2011, Toronto, $385M)
Prophix
(2000, Mississauga)
Conquest Planning
(2018, Winnipeg, $10.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

23. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
When I Work (2010, St. Paul)
$200M - Series C - Nov 2021
Project Time Tracking Software - Canada
15
23
Back to index
Product Management Tools (Roadmunk)
(# Cos: 168 | $381M)
Product Development (When I Work)
(# Cos: 136 | $354M)
Time Tracking (Replicon)
(# Cos: 31 | $245M)
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
1
$245M
5
-
31
1
Replicon
(1996, Calgary, $20.0M)
When I Work
(2010, St. Paul, $224M)
TimeHero
(2013, Toronto, $417K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

24. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Deep Learning Processing Units - Canada
16
24
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: 30 | $924M)
Microprocessors (D-Wave)
(# Cos: 25 | $824M)
Artificial Intelligence and Machine
Learning (Untether)
(# Cos: 9 | $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

25. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
RFP Software - 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
$200M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$209M
1
-
2
1
SCM Software (Nulogy)
(# Cos: 145 | $980M)
Spend Management (Procurify)
(# Cos: 33 | $256M)
Procure To Pay (Axya)
(# Cos: 22 | $215M)
RFP (Loopio)
(# Cos: 2 | $209M)
Loopio
(2014, Toronto, $209M)
Power RFP
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Loopio (2014, Toronto)
$200M - Series B - Apr 2021

26. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Sequencing-based Genomic Precision
Medicine - Canada
18
26
Back to index
Taxonomy
$ Invested in last 1 year in Canada
Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$188M (▲1153%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$548M
8
2
15
2
Genomics (My Intelligent Machines)
(# Cos: 314 | $1.3B)
Applied Genomics (Affinor Growers)
(# Cos: 184 | $989M)
Clinical Genomics (Turnstone Biologics)
(# Cos: 84 | $911M)
Diagnostics (Qvella Corporation)
(# Cos: 59 | $663M)
Sequencing-based (Repare
Therapeutics)
(# Cos: 50 | $663M)
Precision Medicine (Deep
Genomics)
(# Cos: 15 | $548M)
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
RNA Diagnostics (2010, Toronto)
$8.0M - Series A - Sep 2021

27. Copyright © 2022, 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
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
$182M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$274M
1
-
7
2
Healthcare IT (PointClickCare)
(# Cos: 1434 | $1.5B)
Provider (Think Research)
(# Cos: 1097 | $988M)
Hospital Information Systems (Intelerad)
(# Cos: 301 | $419M)
PM & EHR Platforms (NOVX Systems)
(# Cos: 218 | $379M)
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

28. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Genomics Sequencing Analysis Software
- Canada
20
28
Back to index
Taxonomy
$ Invested in last 1 year in Canada
Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$180M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$242M
9
1
22
1
Life Sciences Tech (My Intelligent Machines)
(# Cos: 213 | $586M)
Research & Development (Benchsci)
(# Cos: 188 | $581M)
Drug Discovery (AbCellera)
(# Cos: 63 | $419M)
Genomics (Phenomic AI)
(# Cos: 32 | $266M)
Sequencing Analysis (Deep Genomics)
(# Cos: 22 | $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

29. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Genome Data and Insights - Canada
21
29
Back to index
Taxonomy
$ Invested in last 1 year in Canada
Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$180M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$242M
3
-
3
1
Data as a Service (Miovision)
(# Cos: 191 | $583M)
Industries (Quandl)
(# Cos: 76 | $328M)
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

30. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Online Used Cars Dealers - 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
$179M (▲3553%)
3(▲200%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$264M
2
-
7
2
Auto E-Commerce & Content (Fiix)
(# Cos: 290 | $315M)
Second Hand Vehicles (AutoTrader.ca)
(# Cos: 79 | $309M)
Cars (Clutch)
(# Cos: 58 | $309M)
Online Dealer (Canada Drives)
(# Cos: 7 | $264M)
Canada Drives
(2010, Vancouver, $159M)
Clutch
(2016, Halifax, $105M)
Carooga
(2015, Vancouver)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Clutch (2016, Halifax)
$80.0M - Series B - Nov 2021
Canada Drives (2010, Vancouver)
$79.4M - Series B - Aug 2021
Clutch (2016, Halifax)
$20.0M - Series A - Mar 2021

31. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Dapp Development Platforms - Canada
23
31
Back to index
Blockchain Infrastructure (Covalent)
(# Cos: 96 | $229M)
Application Development Platforms (Figment)
(# Cos: 17 | $171M)
Taxonomy
$ Invested in last 1 year in Canada
Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$165M (▲6199%)
3( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$171M
5
-
17
2
Figment
(2018, Toronto, $165M)
QuikNode
(2017, Toronto, $5.5M)
Conflux Network
(2018, Toronto)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Figment (2018, Toronto)
$110M - Series C - Dec 2021
Figment (2018, Toronto)
$50.0M - Series B - Aug 2021
QuikNode (2017, Toronto)
$5.3M - Series A - Mar 2021

32. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Employee Insurance Benefits
Administration - Canada
24
32
Back to index
Employer Insurance (Chambers Plan)
(# Cos: 10 | $242M)
Benefits Administration (League)
(# Cos: 7 | $242M)
Taxonomy
$ Invested in last 1 year in Canada
Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$165M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$242M
1
-
7
1
League
(2014, Toronto, $242M)
Chambers Plan
(1970, Winnipeg)
Groupe Major
(2002, Gatineau)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
League (2014, Toronto)
$95.0M - Series C - Feb 2022
League (2014, Toronto)
$70.0M - Series C - Dec 2021

33. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
League (2014, Toronto)
$95.0M - Series C - Feb 2022
League (2014, Toronto)
$70.0M - Series C - Dec 2021
Employee Healthcare Benefits
Administration - Canada
25
33
Back to index
Employee Health IT (Dialogue)
(# Cos: 169 | $431M)
Healthcare Benefits Administration (Morneau
Shepell)
(# Cos: 34 | $278M)
Benefits Management (League)
(# Cos: 22 | $275M)
Taxonomy
$ Invested in last 1 year in Canada
Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$165M (▲400%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
5
$275M
7
1
22
2
League
(2014, Toronto, $242M)
Morneau Shepell
(1966, Toronto)
Thriver
(2015, Toronto, $33.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

34. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
80 Acres Farms (2015, Hamilton)
$160M - Series B - Aug 2021
Ferme d'hiver (2018, Brossard)
$2.9M - Seed - Feb 2022
Indoor Farming - Canada
26
34
Back to index
Crop Tech (Tilray)
(# Cos: 677 | $1.4B)
Indoor Farming (Canopy Growth)
(# Cos: 119 | $460M)
Diversified (80 Acres Farms)
(# Cos: 24 | $271M)
Taxonomy
$ Invested in last 1 year in Canada
Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$163M (▲ >10K%)
2( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
4
$271M
13
3
24
1
80 Acres Farms
(2015, Hamilton, $250M)
Maricann
(2013, Burlington, $7.6M)
Lufa
(2009, Montreal, $4.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

35. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
B2B Building Materials Marketplaces -
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
$145M (▲ >10K%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$326M
5
-
11
3
B2B E-Commerce (Tilray)
(# Cos: 171 | $898M)
Home Construction & Improvement (Toolbx)
(# Cos: 12 | $326M)
Building Supplies (Brokrete)
(# Cos: 11 | $326M)
Diversified (RenoRun)
(# Cos: 11 | $326M)
Marketplace (BuildDirect)
(# Cos: 11 | $326M)
BuildDirect
(1999, Vancouver, $150M)
RenoRun
(2016, Montreal, $173M)
Brokrete
(2015, Gatineau, $3.6M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
RenoRun (2016, Montreal)
$142M - Series B - Dec 2021
Brokrete (2015, Gatineau)
$3.0M - Seed - Jul 2021

36. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Visier (2010, Vancouver)
$125M - Series E - Jun 2021
Diversio (2018, Toronto)
$6.5M - Series A - Jan 2022
Employee Data Analytics - Canada
28
36
Back to index
HRTech (WorkJam)
(# Cos: 1197 | $1.9B)
Workforce Analytics (Diversio)
(# Cos: 12 | $226M)
Suite (Visier)
(# Cos: 7 | $226M)
Taxonomy
$ Invested in last 1 year in Canada
Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$132M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$226M
3
-
7
2
Visier
(2010, Vancouver, $220M)
Diversio
(2018, Toronto, $6.6M)
Nugget
(2018, Toronto)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

37. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Magnetic Confinement Fusion Reactors -
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
$130M (▲ >10K%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$412M
1
-
1
1
Nuclear Energy (Ontario Power Generation)
(# Cos: 9 | $475M)
Hardware Developer (Elysium Industries)
(# Cos: 5 | $472M)
Reactors (Terrestrial Energy)
(# Cos: 5 | $472M)
Nuclear Fusion (Progressive Fusion
Solutions)
(# Cos: 2 | $412M)
Hydrogen (General Fusion)
(# Cos: 1 | $412M)
General Fusion
(2002, Burnaby, $412M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
General Fusion (2002, Burnaby)
$130M - Series E - Nov 2021

38. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
LiDAR - Canada
30
38
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
-
$256M
1
-
3
1
Sensors (AOMS Technologies)
(# Cos: 178 | $430M)
Generic Sensor Developers (Alert Labs)
(# Cos: 117 | $314M)
Positioning & Motion (Aerial)
(# Cos: 23 | $276M)
Range (Xandar Kardian)
(# Cos: 7 | $269M)
LiDAR (LeddarTech)
(# Cos: 3 | $256M)
LeddarTech
(2007, Quebec City, $256M)
Teledyne Optech
(1974, Vaughan)
Bluecity
(2018, Kelowna)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
LeddarTech (2007, Quebec City)
$116M - Series D - Feb 2022

39. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Clio (2007, Burnaby)
$110M - Series E - Apr 2021
Legal Practice Management - Canada
31
39
Back to index
Legal Tech (Kira Systems)
(# Cos: 318 | $579M)
Legal Practice Management (HighQ)
(# Cos: 70 | $456M)
Suite (Clio)
(# Cos: 13 | $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
-
13
1
Clio
(2007, Burnaby, $386M)
DoProcess
(1989, Toronto)
Blended Perspectives
(2007, Toronto)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

40. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Application Lifecycle Management -
Canada
32
40
Back to index
DevOps (Buddybuild)
(# Cos: 20 | $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 ( -- )
1( -- )
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

41. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
P2P Crypto Loans - Canada
33
41
Back to index
Taxonomy
$ Invested in last 1 year in Canada
Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$100M (▲3604%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$104M
1
-
2
1
Cryptocurrencies (Tokens.com)
(# Cos: 538 | $370M)
Financial Services (Coinsquare)
(# Cos: 356 | $306M)
Lending (ASIC Power)
(# Cos: 7 | $109M)
Consumer Loans (AcuteCoin)
(# Cos: 5 | $109M)
Personal Loans (AtomicLoans)
(# Cos: 5 | $109M)
P2P (Ledn)
(# Cos: 2 | $104M)
Ledn
(2018, Toronto, $104M)
Macmonet
(2019, Markham)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Ledn (2018, Toronto)
$70.0M - Series B - Dec 2021
Ledn (2018, Toronto)
$30.0M - Series A - May 2021

42. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Crypto Backed Consumer Loans - 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
$100M (▲3604%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$104M
1
-
2
1
Alternative Lending (Borrowell)
(# Cos: 402 | $1.3B)
Online Lenders (Clearco)
(# Cos: 295 | $1.3B)
Consumer Loans (Financeit)
(# Cos: 181 | $723M)
Asset Backed Loans (Fraction)
(# Cos: 15 | $359M)
Crypto Backed (Crypto Lending)
(# Cos: 2 | $104M)
Direct Lender (Ledn)
(# Cos: 2 | $104M)
Ledn
(2018, Toronto, $104M)
Crypto Lending
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Ledn (2018, Toronto)
$70.0M - Series B - Dec 2021
Ledn (2018, Toronto)
$30.0M - Series A - May 2021

43. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Sales Productivity Tools - Canada
35
43
Back to index
Sales Force Automation (360insights)
(# Cos: 412 | $978M)
Productivity Tools (Dooly)
(# Cos: 24 | $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
9
-
24
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

44. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Hotel Metasearch Engines - Canada
36
44
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: 383 | $952M)
Accommodation (Luxury Retreats)
(# Cos: 43 | $144M)
Hotel (Vicinnity)
(# Cos: 8 | $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

45. Copyright © 2022, 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
37
45
Back to index
Autonomous Vehicles (LeddarTech)
(# Cos: 22 | $397M)
Self Driving Technology (Dana TM4)
(# Cos: 3 | $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
1
Waabi
(2021, Toronto, $83.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

46. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
SMB Accounting - Canada
38
46
Back to index
Taxonomy
$ Invested in last 1 year in Canada
Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$82.3M ( -- )
3( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$239M
3
-
58
1
Finance & Accounting Tech (Instant)
(# Cos: 457 | $1.3B)
Accounting Solutions (Replicon)
(# Cos: 278 | $715M)
Accounting Suite (Wave)
(# Cos: 75 | $239M)
SMBs (FreshBooks)
(# Cos: 58 | $239M)
FreshBooks
(2003, Toronto, $154M)
Wave
(2010, Toronto, $82.4M)
Stamped
(2017, Sainte-foy, $2.5M)
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
Stamped (2017, Sainte-foy)
$1.6M - Seed - Feb 2022
Stamped (2017, Sainte-foy)
Undisclosed - Seed - Nov 2021

47. Copyright © 2022, 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
39
47
Back to index
Freelancer IT (Invoice Simple)
(# Cos: 22 | $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.

48. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Gene Therapy Drugs - 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
$80.0M (▲ >10K%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$246M
14
2
24
2
Genomics (My Intelligent Machines)
(# Cos: 314 | $1.3B)
Applied Genomics (Repare Therapeutics)
(# Cos: 184 | $989M)
Clinical Genomics (Deep Genomics)
(# Cos: 84 | $911M)
Therapeutics (Turnstone Biologics)
(# Cos: 24 | $246M)
Turnstone Biologics
(2015, Ottawa, $172M)
Arbutus Bio
(2007, Burnaby, $10.0M)
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

49. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Internet First Auto Loan Marketplace -
Canada
41
49
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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
-
28
1
Alternative Lending (Borrowell)
(# Cos: 402 | $1.3B)
Online Lenders (Clearco)
(# Cos: 295 | $1.3B)
Consumer Loans (Financeit)
(# Cos: 181 | $723M)
Auto Loans (Autocorp)
(# Cos: 37 | $159M)
Marketplace (Canada Drives)
(# Cos: 28 | $159M)
Canada Drives
(2010, Vancouver, $159M)
Canada Car Loans
(2011, Dartmouth)
AutoloansForEveryDriver
(2007, Mississauga)
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

50. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Canalyst (2015, Vancouver)
$70.0M - Series C - Jan 2022
Company Financials Data - Canada
42
50
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Data as a Service (Miovision)
(# Cos: 191 | $583M)
Business (Mobidia)
(# Cos: 50 | $121M)
Company Financials (Canalyst)
(# Cos: 10 | $104M)
Taxonomy
$ Invested in last 1 year in Canada
Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$70.0M (▲ >10K%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$104M
5
-
10
1
Canalyst
(2015, Vancouver, $100M)
Hockeystick
(2012, Toronto, $600K)
Vuru
(2010, Montreal, $1.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

51. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Satellite Based Imaging Services -
Canada
43
51
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Taxonomy
$ Invested in last 1 year in Canada
Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$65.6M (▲119%)
3(▲200%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$115M
4
1
7
1
NewSpace (Maritime Launch Services)
(# Cos: 44 | $216M)
Space Services (Wyvern)
(# Cos: 16 | $203M)
Imaging (UrtheCast)
(# Cos: 7 | $115M)
Satellite Based (GHGSat)
(# Cos: 7 | $115M)
GHGSat
(2011, Montreal, $101M)
UrtheCast
(2010, Vancouver, $9.2M)
Wyvern
(2018, Edmonton, $4.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
GHGSat (2011, Montreal)
$45.0M - Series B - Jul 2021
GHGSat (2011, Montreal)
$16.1M - Series B - Nov 2021
Wyvern (2018, Edmonton)
$4.5M - Seed - Jan 2022

52. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Backup and Disaster Recovery - Canada
44
52
Back to index
Taxonomy
$ Invested in last 1 year in Canada
Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$65.0M (▲337%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$138M
7
1
26
1
IT Operations (Sandvine)
(# Cos: 182 | $587M)
ITSM (Absolute Software)
(# Cos: 80 | $168M)
Continuity Management (VirtaMove)
(# Cos: 39 | $143M)
Backup and Disaster Recovery
(Rewind)
(# Cos: 26 | $138M)
Rewind
(2015, Ottawa, $79.9M)
Geminare
(2006, Toronto, $500K)
Clickfree
(2005, Toronto, $25.0M)
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

53. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Klue (2015, Vancouver)
$62.0M - Series B - Dec 2021
Competitive Intelligence - Canada
45
53
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MarketingTech (Hootsuite)
(# Cos: 1077 | $1.4B)
Marketing Intelligence (Integrate.ai)
(# Cos: 51 | $139M)
Competitive Intelligence (Klue)
(# Cos: 6 | $81.0M)
Taxonomy
$ Invested in last 1 year in Canada
Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$62.0M (▲313%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$81.0M
1
-
6
1
Klue
(2015, Vancouver, $81.0M)
RightMetric
(2018, Vancouver)
Wittycloud
(2018, Longueuil)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

54. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Industrial Sites Emissions Monitoring -
Canada
46
54
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Taxonomy
$ Invested in last 1 year in Canada
Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$61.1M (▲104%)
3(▲200%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$102M
2
-
2
1
Air Pollution Management Tech (Carbon Engineering)
(# Cos: 57 | $480M)
Emission Management (Ouranos)
(# Cos: 5 | $102M)
Monitoring (Arolytics)
(# Cos: 3 | $102M)
Industrial Sites (GHGSat)
(# Cos: 2 | $102M)
GHGSat
(2011, Montreal, $101M)
Arolytics
(2018, Calgary, $588K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
GHGSat (2011, Montreal)
$45.0M - Series B - Jul 2021
GHGSat (2011, Montreal)
$16.1M - Series B - Nov 2021
Arolytics (2018, Calgary)
$563K - Seed - Feb 2021

55. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Bolt (2017, Toronto)
$60.2M - Series B - Nov 2021
Ecommerce Fulfillment Software -
Canada
47
55
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Logistics Tech (Nulogy)
(# Cos: 655 | $478M)
Ecommerce Logistics (BufferBox)
(# Cos: 93 | $64.9M)
Fulfillment Enablers (Bolt)
(# Cos: 36 | $61.8M)
Taxonomy
$ Invested in last 1 year in Canada
Tech
Key Stats
# Funding Rounds in last 1 year in
Canada Tech
$60.2M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$61.8M
2
-
36
1
Bolt
(2017, Toronto, $60.2M)
Machool
(2014, Vancouver, $1.6M)
Stalco
(1990, Toronto)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

56. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
Elastic Path Soft.. (2000, Vancouver)
$60.0M - Series C - Feb 2022
eCommerce Marketing - Canada
48
56
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MarketingTech (Hootsuite)
(# Cos: 1077 | $1.4B)
Industry Specific Marketing (LimeLight
Platform)
(# Cos: 105 | $167M)
eCommerce (Elastic Path Software)
(# Cos: 21 | $158M)
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
3
$158M
11
-
21
1
Elastic Path Software
(2000, Vancouver, $120M)
Granify
(2011, Edmonton, $8.8M)
Mobify
(2007, Vancouver, $25.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

57. Copyright © 2022, 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
49
57
Back to index
Finance & Accounting Tech (FreshBooks)
(# Cos: 457 | $1.3B)
Tech-Enabled Services (H&R Block Canada)
(# Cos: 77 | $115M)
Accounting & Bookkeeping (Bench)
(# Cos: 52 | $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
-
52
1
Bench
(2012, Vancouver, $115M)
Think Accounting
(2017, Mississauga)
Virtual Heights Accoun..
(2016, Vancouver)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

58. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Canada Tech - Top Business Models Report
Recent Funding Rounds
CPG Brands E-Commerce Software Suite
- Canada
50
58
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Brands Tech (360insights)
(# Cos: 39 | $205M)
ECommerce Software (Elastic Path Software)
(# Cos: 11 | $123M)
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
1
$123M
4
-
11
1
Elastic Path Software
(2000, Vancouver, $120M)
BlackSquare
(2009, Calgary, $2.6M)
Truition
(1998, Toronto)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Elastic Path Soft.. (2000, Vancouver)
$60.0M - Series C - Feb 2022

59. Canada Tech - Top Business Models Report Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
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Canada Tech - Top Business Models Report
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