Labour market continues to challenge Deloitte Technology Fast 50 winners, followed by technology advancements and ongoing COVID-19 pandemic – Canada NewsWire

Snapcommerce takes first place with revenue growth of over 33,000 per cent between 2017 and 2020

TORONTO, Nov. 17, 2021 /CNW/ – Deloitte Canada is honoured to announce this year’s winners of the Technology Fast 50, Enterprise Fast 15, Clean Technology, and Companies-to-Watch awards. Now in its 24th year, the Technology Fast 50 program recognizes the world-class achievements of Canadian technology companies, highlighting their commitment to innovation, continued resilience amid a global pandemic, strong leadership, and rapid revenue growth between 2017 and 2020. This year, the average three-year growth of the Fast 50 winners is 2,604 per cent, compared to 2,144 per cent in 2020.

At the top of this year’s Technology Fast 50 list, with three-year growth of 33,614 per cent, is the mobile commerce business, Snapcommerce. Based in Toronto, Snapcommerce’s global message-driven commerce platform gives users a new way to shop by using AI to connect consumers to the best prices and promotions on mobile.

This year’s Technology Fast 50 program welcomes a new award category, the Clean Technology award, a ranking of Canada’s top clean innovators providing processes, goods or services that reduce environmental impacts. The majority of the companies’ revenues must come from products or services that have a positive environmental impact in the following areas: carbon emissions reduction potential, resources circulation (reduce, reuse and recycle), or environmental preservation and safety. With reduction of the carbon footprint of paramount importance, these outstanding companies help create the sustainable business and technology landscape of the future and pave the way for other companies focused on reducing their environmental impacts.

Taking first place in the new Clean Technology category, with three-year growth of 4,043 per cent, is Pela. Based in Kelowna, Pela is developing products that reduce waste and educate and inspire a global community of people who are committed to making a positive impact on our planet.

“Designating this year’s crop of Fast 50 winners is an incredible honour, as all of these companies act as catalysts for the growth of Canadian businesses, and play an integral role in helping make Canada one of the best places in the world to live and work,” said Anders McKenzie, partner and national co-leader for the Technology Fast 50 program at Deloitte Canada. “Not only are they continuing to put Canada on the world-stage when it comes to innovation and leadership, but they’re doing it on the heels of a global pandemic, fraught with uncertainty and instability. As we cope with an ever-changing new normal, resilience like this cannot be understated.”

Labour market continues to pose biggest challenge

Deloitte’s annual survey of Technology Fast 50 Executive Leaders found the labour market is the top ranked challenge facing Canadian businesses in 2021 (56 per cent), while COVID-19 ranks as the third most pressing challenge this year, slightly outranked by technology advancements.

“This year’s data shows us that the labour market continues to be the biggest pain point for Canadian businesses, coming in as the top challenge yet again,” added McKenzie. “Pair this with the ongoing uncertainty of the pandemic and we have a full picture of what weighs on the minds of today’s businesses leaders. The good news is, most respondents believe the government has played a positive role in both supporting businesses throughout the pandemic, and in aiding Canadian tech companies during these unprecedented times. This support is key, especially as the role of government remains critical in navigating the next normal.”

Remote work is here to stay

As Canadian businesses continue to adapt to the ongoing pandemic and discover their “next normal”, 83 per cent of this year’s Fast 50 winners expect the majority of their employees to continue working from home for the foreseeable future. Likewise, 33 per cent believe they’ll be reducing their office space in some capacity or eliminating their office entirely. In contrast, while only 11 per cent of respondents expect most or all of their employees to return to the physical workspace, 23 per cent plan on increasing the size of their existing office.

“What’s clear is that there’s still a lot of uncertainty among this year’s Fast 50 winners around returning to the office, and for most businesses looking to enter their next normal, that means adopting more of a hybrid approach to work,” stated Erica Pretorius, partner and national co-leader for the Technology Fast 50 program at Deloitte Canada. “For those companies who expect the majority of their employees to return to the workplace, it’s interesting to see a sizeable number of respondents claiming they’re going one step further, planning to increase the physical space of the office.”

2021 Technology Fast 50 program winners

The 2021 winners of the Clean Technology category are Pela, mCloud Technologies, Stromcore Energy Inc., Opus One Solutions Energy Corporation, MineSense Technologies Ltd., Biktrix Enterprises Inc., Vive Crop Protection, Food Cycle Science, Eddyfi/NDT, good natured Products Inc., CoolIT Systems, FLO | AddEnergie, Hifi, Ecopia AI, and LUMINOR Environmental Inc.

This year’s winners of the Enterprise Fast 15 category are Valsoft, Vosker Technology, Jobber, Sangoma Technologies, Hopper, Doxim, Docebo, Prodigy Education, Blackline Safety Corp., Q4 Inc., Canada Drives, Visier, Farmers Edge, Behaviour Interactive, and TouchBistro. These winners dominate in their sector and join the ranks of other global leaders across Canada.

The 2021 Companies-to-Watch category winners are Blockthrough, BluWave-ai, Canalyst, Cinchy, Clir Renewables, Coconut Software, CoPilot AI, Flashfood, Gazelle.ai Inc., Mysa Smart Thermostats, Nobul Corporation, Potloc, Skywatch, Smile CDR, and Sollum Technologies. These outstanding companies are key to the future success of the technology sector.

A complete list of winners of the Technology Fast 50, Enterprise Fast 15, Clean Technology, and Companies-to-Watch categories is available at www.fast50.ca.

Rank

Company name

City

Province

Growth %

1

Snapcommerce

Toronto

ON

33,614%

2

Maple

Toronto

ON

15,568%

3

Mistplay Inc.

Montreal

QC

13,545%

4

AbCellera

Vancouver

BC

6,784%

5

Traction Guest

Burnaby

BC

5,230%

6

Bolt Logistics

Toronto

ON

5,159%

7

ApplyBoard

Kitchener

ON

5,089%

8

Dialogue

Montreal

QC

4,215%

9

Bitbuy

Toronto

ON

3,379%

10

Flexiti Financial

Toronto

ON

3,181%

11

Leap Tools

Toronto

ON

2,888%

12

Klue

Vancouver

BC

2,418%

13

Ada

Toronto

ON

2,415%

14

League

Toronto

ON

2,200%

15

PartnerStack

Toronto

ON

2,075%

16

Shakepay

Montreal

QC

1,965%

17

AlayaCare

Montreal

QC

1,766%

18

Later

Vancouver

BC

1,164%

19

BenchSci

Toronto

ON

1,155%

20

VitalHub Corp

Toronto

ON

1,103%

21

FundThrough

Toronto

ON

1,071%

22

Talent.com

Montreal

QC

989%

23

XpertSea

Quebec

QC

963%

24

StackAdapt

Toronto

ON

918%

25

PetalMD

Quebec

QC

739%

26

EBlock

Toronto

ON

699%

27

GeoComply Solutions Inc.

Vancouver

BC

653%

28

Loopio

Toronto

ON

573%

29

jane.app

North Vancouver

BC

557%

30

LiveBarn Inc.

Montreal

QC

548%

31

Thinkific

Vancouver

BC

508%

32

Introhive

Fredericton

ATL

493%

33

Poka

Quebec

QC

488%

34

Lumen5

Vancouver

BC

486%

35

Blackbird Interactive Inc

Vancouver

BC

462%

36

Auvik Networks Inc.

Waterloo

ON

448%

37

eSSENTIAL Accessibility Inc.

Toronto

ON

446%

38

WellnessLiving

Richmond Hill

ON

445%

39

Rapid Novor Inc

Kitchener

ON

439%

40

Field Effect Software Inc.

Ottawa

ON

438%

41

Bonfire

Kitchener

ON

425%

42

7shifts

Saskatoon

Prairies

341%

43

Wavo.me Inc.

Montreal

QC

337%

44

Immersive Design Studios Inc.

Montreal

QC

281%

45

Roadmunk

Kitchener

ON

277%

46

RIWI Corp.

Toronto

ON

264%

47

Think On Inc.

Etobicoke

ON

258%

48

Thoughtexchange

Rossland

BC

257%

49

Explorance

Montreal

QC

245%

50

Mecademic

Montreal

QC

242%

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 2021 program sponsors include Deloitte, RBC, EDC, Miller Thomson, Clarity Recruitment, and Lafond. For further information, visit www.fast50.ca.

About Deloitte

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 LinkedInTwitterInstagram, or Facebook.

SOURCE Deloitte & Touche

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For further information: Kyle Wyskiel, Deloitte Canada, 416-354-1574, [email protected]; Marilyne Plouffe, Deloitte, 514-393-5471, [email protected]