17 more Toronto tech startups are expected to become billion-dollar companies this year
Toronto's not-so-quietly booming tech sector continues to level up on the world stage, creating lucrative jobs by the thousands for talented locals who, in turn, make their employers rich.
For the founders of homegrown tech firms, a successful company can equate to wealth beyond one's wildest dreams. Just ask the people behind scrappy Toronto startups-turned-global juggernauts such as Shopify, Wattpad and WealthSimple.
It's not easy, but a newly-updated roster from the Canadian "innovation ecosystem" and business accelerator Communitech suggests that it's becoming more common.
A total of 17 Toronto-based tech firms are currently on track to join the billionaire's club this year, out of 61 "high-performing tech firms tracking to $1 billion in annual revenue with growth rates that match the top one per cent of companies in the world" in Canada.
Called Team True North, Communitech built this one-of-a-kind roster to help support and celebrate these stellar Canadian companies, as well as show the world that our country is "the best place on the planet to work in tech, invest in tech and build amazing things."
As pointed out by BetaKit, 26 new firms from across the nation were just added to Communitech's soon-to-be-billionaires roster, six of them from right here in the 6ix.
These six companies join 11 in Toronto that were added in June to the roster of Canadian tech firms expected to cross the $1 billion annual revenue mark, based on their current annual revenues and growth rates.
Those companies are: Ada, Clearco, Clutch, Doxim, Ecopia, Flexiti Financial, FreshBooks, League, Ledn, StackAdapt and Voyce.
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