Top Unicorn Startups in Toronto for 2025

In Toronto, we rank 9 unicorn startups based on an algorithm that considers factors such as total investment, quarterly employee count, and website traffic. Unicorns in Toronto are falling behind the performance of their global counterparts.

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Top Unicorn Startups in Toronto for 2025

SB Score:766

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

National Rank (Canada)

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Regional Rank (North America)

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Global Rank (WorldWide)

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SB Score:705

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

National Rank (Canada)

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Regional Rank (North America)

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Global Rank (WorldWide)

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SB Score:662

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

National Rank (Canada)

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Regional Rank (North America)

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Global Rank (WorldWide)

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Total amount:9

Best Software & Data Startups in Toronto for 2025

Toronto startups in the Software & Data industry are overperforming their global industry peers. The top three Software & Data unicorns in Toronto have raised more than USD 767M, an amount that is higher than the global industry average.
SB Score:766

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

National Rank (Canada)

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Regional Rank (North America)

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Global Rank (WorldWide)

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SB Score:662

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

National Rank (Canada)

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Regional Rank (North America)

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Global Rank (WorldWide)

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SB Score:499

Figment is a Canadian company that creates blockchain infrastructure and offers crypto staking services. They develop systems that generate rewards for users holding PoS tokens.

Industry:
Software & Data
Subindustry:
Comtech

National Rank (Canada)

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Regional Rank (North America)

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Global Rank (WorldWide)

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Total amount:5

Most Valuable Unicorns in Toronto for 2025

The top three most valuable unicorns in Toronto have raised total funding of more than USD 1.63B. Among the top three funded unicorns, the most popular industry, based on total funding, is Fintech.
SB Score:766

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

National Rank (Canada)

0

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Regional Rank (North America)

0

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Global Rank (WorldWide)

0

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SB Score:705

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

National Rank (Canada)

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Regional Rank (North America)

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Global Rank (WorldWide)

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Unranked

Cohere is a platform that gives developers and businesses access to NLP, powered by the innovative generation of large language models. Cohere is used to build machines that understand the world and make it safely accessible to all.

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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SB Score:509

Clearco offers performance financing products & services for founders to succeed. As the largest ecommerce investor, Clearco's pay-as-you-grow model breaks barriers for brilliant ideas to become successful businesses.

Industry:
Fintech
Subindustry:
Fintech-Other

National Rank (Canada)

0

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Regional Rank (North America)

0

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Global Rank (WorldWide)

0

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SB Score:499

Figment is a Canadian company that creates blockchain infrastructure and offers crypto staking services. They develop systems that generate rewards for users holding PoS tokens.

Industry:
Software & Data
Subindustry:
Comtech

National Rank (Canada)

0

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Regional Rank (North America)

0

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Global Rank (WorldWide)

0

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SB Score:392

Orchard simplifies the process of selling your phone with advanced analytics that automatically assess its hardware and software. Using a unique scratch interface, the app determines your phone's condition, sets a fair price based on real-time data, and creates a stunning listing for easy sharing. Earn up to $205 more than traditional resale programs and reach a wider audience with Orchard's selling services.

Industry:
Software & Data
Subindustry:
Apps

National Rank (Canada)

0

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Regional Rank (North America)

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Global Rank (WorldWide)

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SB Score:662

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

National Rank (Canada)

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Regional Rank (North America)

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Global Rank (WorldWide)

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SB Score:534

Tenstorrent is enabling a new era in AI and deep learning with its breakthrough processor architecture and software. The company’s mission is to deliver orders of performance and efficiency for AI workloads from the data center to the edge of the Cloud by co-designing hardware, software, and AI algorithms with their technology. Tenstorrent’s architecture scales from datacenter servers to IoT devices with improved efficiency, flexibility, programmability compared to legacy accelerators including CPUs, GPUs, FPGAs, and TPU-type processors. It is developed by their team with expertise in computer architecture, hardware design and verification, systems engineering, compilers, software development, and machine learning algorithms. Tenstorrent is backed by Venture Capital firms including Real Ventures and Eclipse Venture Capital, as well as prominent industry luminaries.

Industry:
Hardware & IoT
Subindustry:
Consumer Electronics

National Rank (Canada)

0

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Regional Rank (North America)

0

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Global Rank (WorldWide)

0

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SB Score:524

Xanadu is on a mission to make quantum computers accessible to all through their full-stack approach, developing hardware, software, and cutting-edge research with partners. Join us in shaping the future of computing for everyone, everywhere.

Industry:
Hardware & IoT
Subindustry:
Manufacturing

National Rank (Canada)

0

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Regional Rank (North America)

0

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Global Rank (WorldWide)

0

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Total amount:9

Top Hiring Unicorns in Toronto by Employee Number

The top three hiring unicorns in Toronto have an average employee size that is smaller than to the global average. Among these, the Software & Data industry features the unicorn with the largest workforce.
SB Score:766

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

National Rank (Canada)

0

View

Regional Rank (North America)

0

View

Global Rank (WorldWide)

0

Browse
View full page
SB Score:705

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

National Rank (Canada)

0

View

Regional Rank (North America)

0

View

Global Rank (WorldWide)

0

Browse
View full page
SB Score:662

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

National Rank (Canada)

0

View

Regional Rank (North America)

0

View

Global Rank (WorldWide)

0

Browse
View full page
SB Score:534

Tenstorrent is enabling a new era in AI and deep learning with its breakthrough processor architecture and software. The company’s mission is to deliver orders of performance and efficiency for AI workloads from the data center to the edge of the Cloud by co-designing hardware, software, and AI algorithms with their technology. Tenstorrent’s architecture scales from datacenter servers to IoT devices with improved efficiency, flexibility, programmability compared to legacy accelerators including CPUs, GPUs, FPGAs, and TPU-type processors. It is developed by their team with expertise in computer architecture, hardware design and verification, systems engineering, compilers, software development, and machine learning algorithms. Tenstorrent is backed by Venture Capital firms including Real Ventures and Eclipse Venture Capital, as well as prominent industry luminaries.

Industry:
Hardware & IoT
Subindustry:
Consumer Electronics

National Rank (Canada)

0

View

Regional Rank (North America)

0

View

Global Rank (WorldWide)

0

Browse
View full page

Total amount:9

Explore the Startup Ecosystem of Toronto

National Rank

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Regional Rank

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9th

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Global Rank

(WorldWide)

22nd

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Top Cities for Startups in Canada - Ranked by StartupBlink

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