Magnet Forensics and Miovision continue to show incredible growth and impact
This article originally appeard in The Record
Six firms in Waterloo Region are on this year’s list of Canada’s fastest growing technology companies.
Magnet Forensics, Miovision Technologies, Aeryon Labs, Dejero Labs, eSentire, and Igloo Software are on Deloitte’s Technology Fast 50 list, which is based on revenue growth over the previous four years.
Magnet, a Waterloo provider of digital forensics tools, is eighth on the list with four-year revenue growth of 1,154 per cent.
Miovision, a Kitchener company that develops traffic data collection and analysis systems, ranks 32nd with revenue growth of 305 per cent.
Waterloo drone maker Aeryon ranks 10th with revenue growth of 1,032 per cent.
Dejero, a Waterloo firm that provides a platform for live-to-air broadcasting, is 18th with revenue growth of 590 per cent.
Cambridge-based eSentire, a provider of cybersecurity tools and services, is 42nd with revenue growth of 202 per cent.
Igloo, a Kitchener firm that develops social networking software for businesses, ranks 45th with revenue growth of 159 per cent.
Topping this year’s list is Frank & Oak, a Montreal-based menswear brand and online retailer. It had revenue growth of 18,480 per cent.
Deloitte said the companies on the Fast 50 list achieved average growth of 1,293 per cent.
Ontario is home to 23 of the companies on the 50 list. There are 13 from Quebec, 10 from British Columbia, two from Alberta, and one each from Nova Scotia and Saskatchewan.
TrustPoint Innovation Technologies [another AC Graduate], a Waterloo startup that develops products for secure machine to machine communications, is among 12 firms on Deloitte’s companies to watch list.
This year’s survey of Fast 50 CEOs indicated that securing talent is a significant issue for two-thirds of the companies on the list.
“Young Canadian tech companies from coast to coast are experiencing staggering growth,” Robert Nardi, Deloitte’s technology, media and telecommunications managing partner, said in a news release.
“However, for these firms to maintain their trajectory they need to have the right talent mix. For today’s fast-growing companies, finding and attracting talent is of great importance.”