159 Top startups in Waterloo for April 2025

We rank Top Hat, TextNow and Auvik Networks in Waterloo along with 156 other startups based on an algorithm that scores startups based on total investment, employee count, and quarterly website traffic. Waterloo is part of Kitchener Waterloo startup ecosystem which ranks #90 globally and #35 in North America.

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Top Unicorn Startups in Waterloo for 2025

Two startups have achieved unicorn status by exceeding USD 1 billion in valuation. Collectively, the top two unicorns in Waterloo have raised more than USD 4.3B.
SB Score:647

ApplyBoard is the leading online platform for students looking to study abroad. With the largest selection of programs worldwide, students can easily find, apply, and secure placements at top universities.

Industry:
Edtech
Subindustry:
Edtech

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SB Score:479

eSentire is the Authority in Managed Detection and Response, protecting the critical data and applications of 1500+ organizations in 80+ countries, representing 35 industries from known and unknown cyber threats. Founded in 2001, the company’s mission is to hunt, investigate and stop cyber threats before they become business disrupting events. Combining cutting-edge machine learning XDR technology, 24/7 Threat Hunting, and proven security operations leadership, eSentire mitigates business risk, and enables security at scale. The Team eSentire difference means enterprises are protected by the best in the business with a named Cyber Risk Advisor, 24/7 access to SOC Cyber Analysts & Elite Threat Hunters, and industry-leading threat intelligence research from eSentire’s Threat Response Unit (TRU). eSentire provides Managed Risk, Managed Detection and Response and Incident Response services. For more information, visit www.esentire.com and follow @eSentire.

Industry:
Software & Data
Subindustry:
Enterprise Technology

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Total amount:2

Best Startups in Waterloo for 2025

SB Score:648

This startup enhances classroom engagement by allowing students to use their mobile devices for quizzes, live discussions, and interactive simulations. Professors receive instant feedback on student comprehension to adapt lectures in real-time.

Industry:
Edtech
Subindustry:
Edtech

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SB Score:572

TextNow provides a free cell phone service alternative, offering users their own phone number to text and call over WiFi on various devices. With millions of active users in the US and Canada, the profitable company has a team of 22 employees. Visit TextNow.com for more information.

Industry:
Software & Data
Subindustry:
Apps

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SB Score:524

Auvik simplifies network management with its cloud-based platform. Users can easily monitor and manage their networks from anywhere, ensuring seamless connectivity and optimal performance.

Industry:
Software & Data
Subindustry:
Cloud

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SB Score:477

Dejero Labs provides innovative network aggregation technology for broadcast and media companies, ensuring seamless and reliable connectivity. Their solutions empower organizations with dependable communication capabilities, driving efficiency and productivity in the industry.

Industry:
Software & Data
Subindustry:
Cloud

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SB Score:462

Axelar is a cross-chain communication tool developing interoperability software to connect blockchain ecosystems, applications, and users. Axelar Network consists of a protocol suite, tools, and APIs, designed to break down the barriers to cross-chain communication. Axelar enables developers to build on the best platform for their needs while leveraging the Axelar stack to unlock cross-chain composability and liquidity. The company was founded by Sergey Gorbunov and Georgios Vlachos in 2020.

Industry:
Software & Data
Subindustry:
Enterprise Technology

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SB Score:459

Revolutionary talent assessment platform Plum is talent realized. Universally designed, Plum uses objective data to measure and match human potential to job needs, enhancing talent decisions across the employee lifecycle. With unmatched scalability, Plum empowers organizations to quantify job fit, improve quality of hire, identify potential, provide personalized career insights and create high-performing teams from one platform. Plum has been named a Top HR Product of the Year by Human Resource Executive, won an HR Tech Award from Lighthouse Research & Advisory and secured High Performer status with G2. Visit www.plum.io to learn more.

Industry:
Software & Data
Subindustry:
Enterprise Technology

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SB Score:453

Robotiq's goal is to automate mundane tasks, allowing businesses and employees to concentrate on activities that drive value.

Industry:
Hardware & IoT
Subindustry:
Robotics

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SB Score:431

Mappedin is the top platform for managing indoor spatial data, creating digital maps for venues, and developing exceptional indoor mapping experiences.

Industry:
Software & Data
Subindustry:
Software and Data-Other

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SB Score:413

Hive is a dynamic customer data and email platform that empowers brands to personalize and automate their marketing campaigns. By harnessing Hive's innovative technology, brands can increase sales, improve customer satisfaction, and drive greater engagement and spending.

Industry:
Software & Data
Subindustry:
Data Analytics

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10th

Uvaro
SB Score:403

Uvaro is a career success platform empowering professionals to achieve fulfilling careers through personalized guidance and resources.

Industry:
Edtech
Subindustry:
Edtech

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SB Score:399

Revolutionize frontline worker management with a data-centric IoT platform using federated learning and AI. Empower critical workers with smart mobile device management for seamless operations.

Industry:
Software & Data
Subindustry:
Data Analytics

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Total amount:159

Top 60 Software & Data Startups in Waterloo for 2025

The top three Software & Data startups in Waterloo have raised more than USD 296M. Waterloo is part of Kitchener Waterloo startup ecosystem which ranks #75 globally for the Software & Data industry.
SB Score:572

TextNow provides a free cell phone service alternative, offering users their own phone number to text and call over WiFi on various devices. With millions of active users in the US and Canada, the profitable company has a team of 22 employees. Visit TextNow.com for more information.

Industry:
Software & Data
Subindustry:
Apps

National Rank (Canada)

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Regional Rank (North America)

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SB Score:524

Auvik simplifies network management with its cloud-based platform. Users can easily monitor and manage their networks from anywhere, ensuring seamless connectivity and optimal performance.

Industry:
Software & Data
Subindustry:
Cloud

National Rank (Canada)

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SB Score:477

Dejero Labs provides innovative network aggregation technology for broadcast and media companies, ensuring seamless and reliable connectivity. Their solutions empower organizations with dependable communication capabilities, driving efficiency and productivity in the industry.

Industry:
Software & Data
Subindustry:
Cloud

National Rank (Canada)

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Total amount:60

Top 12 Edtech Startups in Waterloo for 2025

The top three Edtech startups in Waterloo have raised more than USD 280M. Waterloo is part of Kitchener Waterloo startup ecosystem which ranks #24 globally for the Edtech industry.
SB Score:648

This startup enhances classroom engagement by allowing students to use their mobile devices for quizzes, live discussions, and interactive simulations. Professors receive instant feedback on student comprehension to adapt lectures in real-time.

Industry:
Edtech
Subindustry:
Edtech

National Rank (Canada)

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Regional Rank (North America)

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SB Score:403

Uvaro is a career success platform empowering professionals to achieve fulfilling careers through personalized guidance and resources.

Industry:
Edtech
Subindustry:
Edtech

National Rank (Canada)

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SB Score:359

DigitalEd offers cloud-based software for online science, engineering, and math courses. Providing innovative education solutions, the platform caters to a variety of subjects and simplifies the learning process.

Industry:
Edtech
Subindustry:
Edtech

National Rank (Canada)

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Regional Rank (North America)

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Total amount:12

Top 19 Hardware & IoT Startups in Waterloo for 2025

The top three Hardware & IoT startups in Waterloo have raised more than USD 205M. Waterloo is part of Kitchener Waterloo startup ecosystem which ranks #74 globally for the Hardware & IoT industry.
SB Score:453

Robotiq's goal is to automate mundane tasks, allowing businesses and employees to concentrate on activities that drive value.

Industry:
Hardware & IoT
Subindustry:
Robotics

National Rank (Canada)

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SB Score:391

Sera4, a cybersecurity firm, protects computer systems and networks. Specializing in security solutions, they safeguard against cyber threats.

Industry:
Hardware & IoT
Subindustry:
Hardware

National Rank (Canada)

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SB Score:371

Nicoya is a revolutionary nanotechnology company creating sensor products with the power to transform industries. Their innovative technology is set to disrupt the market and drive global change.

Industry:
Hardware & IoT
Subindustry:
Nanotechnology

National Rank (Canada)

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Regional Rank (North America)

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Total amount:19

Most Funded Startups in Waterloo for 2025

The top three most funded startups in Waterloo have raised total funding of more than USD 483M. Top Hat has 0.57% more funding than Dejero Labs.
SB Score:648

This startup enhances classroom engagement by allowing students to use their mobile devices for quizzes, live discussions, and interactive simulations. Professors receive instant feedback on student comprehension to adapt lectures in real-time.

Industry:
Edtech
Subindustry:
Edtech

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:477

Dejero Labs provides innovative network aggregation technology for broadcast and media companies, ensuring seamless and reliable connectivity. Their solutions empower organizations with dependable communication capabilities, driving efficiency and productivity in the industry.

Industry:
Software & Data
Subindustry:
Cloud

National Rank (Canada)

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SB Score:348

VueReal is revolutionizing electronic systems by integrating high-efficiency nano/micro-devices into large-area substrates. Their cutting-edge technology paves the way for the next generation of electronics.

Industry:
Hardware & IoT
Subindustry:
Consumer Electronics

National Rank (Canada)

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Total amount:159

Top Hiring Startups in Waterloo by Employee Number

The top three hiring startups in Waterloo have an median employee size that is between [10001+]
SB Score:377

A pioneering in Enterprise Information Management, OpenText empowers organizations to efficiently manage and leverage their data. From data storage to analysis, OpenText provides cutting-edge solutions for businesses to optimize their information management processes.

Industry:
Marketing & Sales
Subindustry:
Content Marketing

National Rank (Canada)

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SB Score:163

Elucid Labs is a MedTech company that develops an advanced augmented intelligence imaging solution for the early detection and diagnosis of skin cancer. Their proprietary technology analyzes the molecular composition of skin at various depths, creating a unique fingerprint for each mole or lesion.

Industry:
Healthtech
Subindustry:
Health Care

National Rank (Canada)

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SB Score:361

AirClic, Inc. provides mobile business solutions in the United States. It captures and accesses information about workers, assets, inventory, activities, GPS location, and time, as well as supports various hardware devices to capture data in the fields. The company also provides business process mobilization solutions, as well as proof of delivery/services, logistics and transportation management, inventory management, security, operations and supply chain management, field services, customer communications, and time and expense management services. AirClic, Inc. was founded in 1999 and is headquartered in Trevose, Pennsylvania.

National Rank (Canada)

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Regional Rank (North America)

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SB Score:648

This startup enhances classroom engagement by allowing students to use their mobile devices for quizzes, live discussions, and interactive simulations. Professors receive instant feedback on student comprehension to adapt lectures in real-time.

Industry:
Edtech
Subindustry:
Edtech

National Rank (Canada)

0

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Regional Rank (North America)

0

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Global Rank (WorldWide)

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Total amount:159

Explore the Startup Ecosystem of Waterloo

National Rank

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Regional Rank

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35th

6

Global Rank

(WorldWide)

90th

14

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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

Access subscores for 1000 cities and 100 countries

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Quantity Score
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36.732
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3.232
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