Canadian Tech Report 2021

2021 was an amazing year for Canadian tech companies with new records for total funding and deal volume.
Data Source: https://briefed.in

In-depth coverage of investment in the Canadian tech ecosystem

Count Up to 218
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Increase in total investment dollars

Count Up to 31
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Increase in deal volume

While in 2020 there was some concern about the low number of early-stage investments, 2021 has seen a significant increase in early-stage activity in Canada surpassing the highs in 2019 with the top three categories for investments in SaaS, FinTech and HealthTech.

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In Toronto, there was a 400% increase in total investment dollars and a 50% increase in deal volume. These numbers shattered all previous Canadian technology records.

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In BC there was a 316% increase in total investment dollars while Pre-Seed and Seed deals increased by 62% and 41% respectively.

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In Calgary there was a 62% increase in deals this year and the region also saw a 220% increase in Pre-Seed deals.

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In Waterloo Region, there was a 97% increase in total investment due to Applyboard and Faire megadeals and a 26% decline in total deals.

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In Montreal, there was a 33% increase in total investment dollars and it continues to have a healthy balance of startups at all stages.

SaaS FinTech HealthTech Marketplace Platform DevTech CleanTech BioTech MarTech LogisticsTech HRTech Hardware AI Analytics SportsTech PropertyTech Misc Games Blockchain AgTech VideoTech PaaS Data CyberSecurity AutoTech Wearables Robotics Networks NanoTech Metaverse LegalTech InsurTech HeatlhTech FitnessTech EdTech eCommerce 3DTech 100%

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Most investments in 2021 (In CAD)

  • FinTech $2.5B
  • SaaS $1.9B
  • Marketplace $1.3B
  • AI $ 1.0B
  • Blockchain/Crypto $1.0B
  • HealthTech $870.2 B
  • EdTech $851.4M

Number of deals in 2021 (Categories)

SaaS

92

FinTech

76

HealthTech

63

AI

54

BioTech

38

Most Active Investors & Top Deals 2021

Top deals in 2021

Faire

Waterloo Region + California

Trulioo

British Columbia

Dapper

British Columbia

ApplyBoard

Waterloo Region

Faire

British Columbia

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