Innovative biotechnology firm BlueRock Therapeutics and Vancouver-based social media management firm Hootsuite are amongst those featured on the University of Toronto’s Narwhal 2018 rankings, listing the 50 most financially attractive technology companies within Canada.
The Impact Centre at the University of Toronto highlights the young firms and startups most likely to reach unicorn status on the list, having studied more than 1,000 private venture capital (VC) funded businesses.
The report was compiled by calculating the “final velocity” of each firm – calculated by dividing total VC funding received by the years the number of years of existence, indicating those companies that are viewed to have a high growth potential.
Alongside BlueRock Therapeutics and Hootsuite, the Top 10 is rounded off by DalCor Pharmaceuticals, Repare Therapeutics, Lightspeed POS, Thalmic Labs, Turnstone Biologics, Wealthsimple, PreciThera and Kik Interactive.
In total, those featuring on the 2018 list recorded an average funding round of $41mn each, raising a total $1.2bn in the one-year period preceding the release of the latest annual report.
For more information, see the full Narwhal list 2018 from the Impact Centre at the University of Toronto.