Following Canada seeing a number of significant raises in addition to large exits in the first half of 2019, the University of Toronto’s Impact Centre has updated its 2019 Narwhal List, a report that highlights Canada’s fastest scaling private tech companies.
“There are a lot of places in Canada where it’s possible to incubate successful companies.”
The Narwhal List ranks financially attractive firms by financial velocity. This metric is derived by the amount of funding a firm has raised, divided by the number of years the company has existed. The report also measures the rate at which a company raises and consumes capital to support its growth.
“We’re having more and more companies raising larger and larger amounts as they grow. That’s critical to our success,” Charles Plant, a senior fellow of the Impact Centre, told BetaKit. “It’s important to call attention to these companies. Accentuating those that are raising substantial amounts of money is a good way to continually bring fo..Read More