Deloitte Canada announces 25th annual Technology Fast 50 winners
While the executive winners’ survey points to challenging labour and financial markets, results show the industry is committing to board diversity and women in leadership roles
Toronto, November 16, 2022 – Deloitte Canada is proud to announce the winners of its Technology Fast 50, Enterprise Fast 15, Clean Technology, and Companies-to-Watch awards. The program reaches a milestone this year, celebrating 25 years of recognizing the achievements, innovation, leadership, and growth of Canadian technology companies.
“The 2022 Technology Fast 50 winners are a testament to how the Canadian tech sector is thriving,” says Anders McKenzie, partner, and national leader for the Technology Fast 50 program at Deloitte Canada. “Despite unpredictable economic and global climates, tech companies from around the country are seizing new opportunities and meeting rapidly evolving market demands. It is inspiring to witness the accelerated innovations and the many technological advancements that position Canada as a leader on the global stage.”
Labour and financial markets top concerns for Technology Fast 50 winners
According to Deloitte Canada’s annual survey of Technology Fast 50 executives, attracting and retaining a qualified workforce remain primary business challenges among Canada’s fastest-growing tech companies. Of the respondents, twenty-seven per cent say labour markets are the most significant issue they face, followed by concerns over financial markets (18%) and changing consumer preferences (13%).
An emerging concern for this year’s award recipients is access to capital. Last year, seventy-eight per cent of respondents felt their ability to access capital was improving. This year, that figure has dropped to forty-seven per cent, which represents a five-year low.
C-Suite progress: More women in leadership roles
Among the survey’s other findings, 1 in 5 companies (21 per cent) say that women make up more than forty per cent of their leadership, which is a one-point gain over last year. Additionally, 77 per cent have at least one board representative identifying as a member of an equity-seeking group.
2022 winners: Real estate, travel, food waste reduction, and healthtech lead the way
Nobul, a Toronto-based open digital marketplace connecting home buyers and sellers to real estate agents, tops this year’s Technology Fast 50 winners with a three-year growth trajectory of 72,944 per cent. Nobul is the first company in the award’s history to propel itself from the Companies-to-Watch category to the top of the Technology Fast 50 ranking in just one year.
Hopper, one of the world’s fastest-growing mobile-first travel marketplaces, earns the best ranking in the Enterprise Fast 15 category. Headquartered in Montreal, the company offers an app and B2B services which drove to a revenue growth rate of 859 per cent. This award category recognizes the fastest-growing enterprise-level technology, media, and telecommunications companies by revenue growth percentage over the last four years.
Flashfood claims the top spot in the Clean Technology category, an award established last year to recognize Canada’s top clean innovators providing processes, goods, or services that reduce environmental impacts. Located in Toronto, Flashfood has diverted more than 40 million pounds of food, saved shoppers an excess of $100 million, and fed hundreds of thousands of families. With a three-year revenue growth of 11,869 per cent, the company joins Nobul among the select few to have leapfrogged from the Companies-to-Watch list to the top of another Technology Fast 50 award the following year.
In the Companies-to-Watch category, Vancouver’s Thrive Health has the highest revenue growth at 4,221 per cent. The organization provides technology that enables enhanced access to patient data and equips healthcare providers with tools to design custom care workflows according to individual patient needs. Through its interactive patient engagement platform, Thrive Health is putting patients at the centre of their care, by facilitating more data-driven clinical decisions.
25 years of Canadian technology innovation and growth
Established in 1998, Deloitte Canada’s Technology Fast 50 program has awarded more than 1,700 innovative Canadian technology companies across a wide range of sectors and industries since its inception. These include hardware, semiconductors, software, SaaS, energy tech, medical, biotech and pharmaceutical, artificial intelligence, cloud services, consumer software, data analytics, enterprise infrastructure and productivity, fintech, security, mobility, and social networking.
80 Canadian companies earn Technology Fast 500 ranking
The Technology Fast 50 awards program runs alongside the broader North American Technology Fast 500™, with winners automatically eligible for this elite ranking. This year, 80 Canadian companies made that list, with Certn from British Columbia leading the group in 24th place. For the complete list of Technology Fast 500 winners, click here.
About the Deloitte Technology Fast 50™ program
The Deloitte Technology Fast 50 program is Canada’s pre-eminent technology awards program. Celebrating business growth, innovation and entrepreneurship, the program features distinct categories, including the Technology Fast 50 ranking, Enterprise Fast 15, Clean Technology, and Companies-to-Watch. The program also recognizes companies within the North American Technology Fast 500 ranking, identifying technology companies in the United States and Canada. The 2022 program sponsors include RBCx, Osler, CBRE, Council of Canadian Innovators, EDC, TMX, Vector Institute, Clarity Recruitment, and Lafond. For further information, visit www.fast50.ca.
Deloitte provides audit and assurance, consulting, financial advisory, risk advisory, tax, and related services to public and private clients spanning multiple industries. Deloitte serves four out of five Fortune Global 500® companies through a globally connected network of member firms in more than 150 countries and territories bringing world-class capabilities, insights, and service to address clients’ most complex business challenges. Deloitte LLP, an Ontario limited liability partnership, is the Canadian member firm of Deloitte Touche Tohmatsu Limited. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.
Our global Purpose is making an impact that matters. At Deloitte Canada, that translates into building a better future by accelerating and expanding access to knowledge. We believe we can achieve this Purpose by living our shared values to lead the way, serve with integrity, take care of each other, foster inclusion, and collaborate for measurable impact.
To learn more about Deloitte’s approximately 330,000 professionals, over 11,000 of whom are part of the Canadian firm, please connect with us on LinkedIn, Twitter, Instagram, or Facebook.