Today's News

Vancouver, BC, October 17, 2022--(T-Net)--Bench announced that it and 25 other Canadian tech firms (5 in BC) have been added to Communitech's roster of top-performing companies, known as Team True North.

The team now consists of 61 companies shown by verified data to have the highest probability of reaching $1B in revenue.

When global markets experience volatility, past experience has shown that strong global leaders become even stronger. Team True North represents the top one percent of global private tech companies in Canada.

"We're thrilled to have identified 26 more world-class tech firms in Canada's innovation economy to add to our 2022 Team True North roster," said Chris Albinson, CEO and President of Communitech. "Our tech ecosystem's ability to weather current economic challenges is due to their impressive growth and an unwavering commitment to Tech For Good, which is a distinct global advantage for Canada."

According to comprehensive data from Silicon Valley Bank, analysis by New York-based data science firm Two Sigma, and the model developed by Communitech for measuring growth potential, each company in the 2022 lineup of Team True North meets one of four criteria:

• $20M-$39M in annual revenue with 60 per cent or more growth rate,
• $40M-$79M in annual revenue with 40 per cent or more growth rate,
• $80M - $99M in annual revenue with at least 20 per cent growth rate, OR
• $100M+ in annual revenue with at least 15 per cent growth rate

With these latest additions, the 61 companies on Team True North had $8.1B in combined annual revenue with an average annual revenue of $132M, and an average year-over-year revenue growth of 198 per cent. The companies also employ 37,446 people and have a combined 2,532 open roles.

"We are thrilled to be named among so many great Canadian companies." said JP Durrios, CEO of Bench Accounting. "We're proud of the work our Benchmates have done with our customers in an increasingly complicated economic climate, and their relentless passion for helping every business owner thrive, by providing financial insight and peace of mind in one seamless platform."

As T-Net announced last week, the new additions to Team True North 2022 are:

• Absorb Software Inc. (Calgary, AB)
• AlayaCare (Montreal, QC)
• Article (Vancouver, BC)
• Bench (Vancouver, BC)
• Borrowell (Toronto, ON)
• Brim Financial (Toronto, ON)
• Certn Inc. (Victoria, BC)
• Clearpath Robotics / Otto Motors (Kitchener, ON)
• Cority (Toronto, ON)
• Dapper Labs (Vancouver, BC)
• Geotab (Oakville, ON)
• Hootsuite Media Inc. (Vancouver, BC)
• Hopper (Montreal, QC)
• Info-Tech Research Group (London, ON)
• Koho Financial (Toronto, ON)
• Miovision Technologies Inc. (Kitchener, ON)
• Neo Financial Technologies Inc. (Calgary, AB)
• Paper (Montreal, QC)
• PurposeMed (Calgary, AB)
• Ross Video (Ottawa, ON)
• RVezy (Ottawa, ON)
• Solace (Ottawa, ON)
• Talent (Montreal, QC)
• Vena Solutions (Toronto, ON)
• Versapay (Toronto, ON)
• WorkJam Inc. (Montreal, QC)

Updates to the roster of tech firms on Team True North will be published yearly and include companies that work with innovation hubs across Canada's Tech Network, including MaRS, Invest Ottawa, Platform Calgary, BC Tech Association, Edmonton Unlimited, Tech Alliance, VIATEC and ventureLAB.