What happened: B.C. firms take six spots on Deloitte rankings
Why it matters: While some notable names made the list, the West Coast presence is down from last year
B.C.’s tech companies took a bit of a breather this year on the Deloitte Technology Fast 50 list, nabbing six spots on the high-profile rankings compared with 10 spots a year earlier.
Deloitte’s annual list, released Wednesday (November 18), analyzes the nation’s fastest-growing tech companies in terms of average growth over the past three years.
For the second consecutive year Moj.io Inc., which was founded in Vancouver but now sees most of its C-suite based in Silicon Valley, was the highest-ranking company from the West Coast with average growth of 3,612%.
That high-octane growth was enough to clinch the No. 7. for the tech firm best known for connecting cars to the internet.
Later Media Inc., known for its Instagram marketing platform, nabbed the No. 16 spot with 1,074% growth.
“At a certain strategic level, what we want to be able to do is give a lot of the marketing tools that larger brands might use to small and medium businesses," Later’s co-founder and chief technology officer Ian MacKinnon told BIV last year.
Vancouver-based Jane Software Inc. (jane.app) ranked No. 24 on the list with 733% average growth the past three years as health and wellness practitioners turned to the company’s platform for booking, scheduling and billing.
Coming in at No. 26 with 691% growth is Vancouver-based Thinkific Labs Inc.
The company is in the midst of a monster year, raising $22 million and revealing plans to hire 350 more workers amid the pandemic.
The company, which helps businesses and individuals create and distribute online courses, has reported a 200% increase in online courses being created on its platform since the outset of the COVID-19 crisis.
“We might have seen one week of things being a little bit slow – but not even a concerning level of flow – and then everything completely blew up in a good way,” Greg Smith, Thinkific’s co-founder and CEO, told BIV last month in reference to the outset of the pandemic.
“We saw a bit of uncertainty in the world, but also a real opportunity to double down and do even more for businesses that are unique. The interesting thing we’ve seen is so many businesses that would have otherwise potentially failed are now thriving because they’ve moved or transitioned to online education or added it as a component.”
Rounding out B.C.’s presence on Deloitte’s list was Freightera Logistics Inc. at No. 28 (678% growth) and ImmunoPrecise Antibodies Ltd. at No. 40 (476% growth).
Deloitte also featured three B.C. companies in its 2020 Enterprise Fast 15 category, covering enterprise-level firms that recorded a minimum revenue of $10 million in 2016 and $25 million in 2019:
No. 7) Vancouver's Paladin Technologies Inc. (302% average four-year growth)
No. 8) Victoria's SendtoNews Video Inc. (284% average four-year growth), best known for its video distribution platform for sports highlights showcased online.
No. 9) Vancouver-based Canada Drives (244% average four-year growth), which runs an online platform to help secure financing for vehicles.