12 Canadian Companies to Watch in 2023

Digital Marketing / December 19, 2022

As per tradition, it’s that time of year where we, at Bloom, narrow down our perfect list of Canadian businesses to look out for in 2023.

Read our previous editions: 2019, 2020, 2021

Over the past years, we’ve been keeping a close eye on all ambitious talents that are either making waves in deep-seated markets, revolutionizing the digital world with sharper approaches and smarter solutions, or both.

Here are our top companies in Canada, deemed groundbreaking enough to make it onto our list – a list which was extremely difficult to cap at only 12. However, we are hopeful that these companies will represent the up-and-coming ingenuity that is the Canadian entrepreneurial spirit. 

1. Fellow

Us Bloomers will be the first to tell you how demanding meeting management can be. Setting up and keeping record of the numerous appraisals, 1-1s, and internal meetings on a daily basis requires lots of flexibility and organization. Luckily, Canadian start-up Fellow built and designed an app accommodating those exact needs, keeping all concerned parties accountable. 

Fellow’s key features aim primarily to help employees instill great meeting habits through the option of integrating the platform into their customary apps such as Zoom, Slack, and Google Calendar. With an affordable pricing model, it becomes apparent why the company has received 30.5 million in financial backing since 2017 only. Recognized as one of Ottawa’s Best Places to Work, Fellow is one start-up we’ll absolutely keep our eyes on!

2. Barley

Founded during prime COVID time, software company Barley successfully seized the timely, online opportunity for smart compensation management solutions. Indeed, Barley is playing its part in closing the wage gap for systemically under compensated women and people with disabilities by providing the technological tools needed to establish fair compensation practices. 

We have complete faith in Barley as its CEO, Jafar Owainati, originally helped create Loopio, which, as of 2021, secured $252 million to expand its growth within the RFP software market. Basically, maintaining pay equity and eliminating turnover can now be both simple and effective thanks to Barley and its talented team. 

3. Snack

With online dating seeing an irreversible change since the pandemic, Kim Kaplan uncovered a dating app hiding in plain sight: TikTok! She noticed how Gen Z, the majority user base of the application, was posting videos of themselves, advertising their day-to-day interests, personalities, and most importantly, their single status. Just like Facebook and Instagram can be considered a dating app for Millennials, TikTok has since become a major tool for finding people in your local area having interests similar to those you’ve gathered (or “liked”) through your algorithm (or “For You Page”).

Kaplan saw the opportunity to target a whole new dating audience with Snack: a video-first dating app. Removing the outdated “swiping” concept seen in so many apps today, she launched Snack in February 2021 and has been gaining impressive traction since then. Inspired by TikTok’s “memeability”, Snack is based first and foremost on the relatable content indulged by so many Gen Z viewers, evaluating a user’s sense of humour before any matching can occur. If you’re looking to get back into the dating scene, the revolutionizing concept of Snack shows so much promise, so why not give it a try?  

4. Certn

Ask any HR representative, background screening can be quite the lengthy, manual process. Most industries require documents, including but not limited to, domestic and international criminal background checks, credit reports, reference checks, as well as education and employment verification. With Certn, hours are reduced to minutes through its artificial intelligence-enabled SaaS platform.

The Victoria-based start-up, co-founded in 2016, not only offers smart solutions for small, medium, and large-scale enterprises, but for property management purposes as well, such as the screening of potential tenants. The platform also enables any professional candidate to get their personal background check in advance, making the hiring process simpler on both sides of a company. With a vast client base and having recently raised $65.1 million in its all-equity Series B round, Certn is most definitely on the technological path to success.

5. BlueDot

Ever wished you held the same intelligence information as the government or a multinational enterprise to make your own sound decisions? Well, with regards to biothreats, BlueDot has your back! Indeed, once a global biothreat has been identified, this Toronto-based AI start-up enables public and private sector organizations to quickly identify, understand, and appropriately respond by tracking the threat’s full lifecycle and providing the necessary context to make reliable decisions for your organization.

If you’re still not convinced, we were as of the moment we found out that BlueDot spotted the Coronavirus before anyone knew about it – and epidemic awareness is only one of many benefits of using the platform. Moving forward in this unpredictable climate, having BlueDot in your back pocket is an absolute must!

6. TealBook

Toronto-based data start-up is yet another to make it on our list due to the increase demand for supply chain solutions ever since the pandemic and the company’s innovative procurement intelligence platform using machine learning and AI. Quality supplier data is crucial now more than ever and TealBook does so not only through its intelligence platform solution, but through its supplier data foundation, seamlessly integrating any company’s current procurement software. 

Founded in 2015, TealBook has experienced extreme growth helping industries maximize their spend, optimize supplier diversification, increase reach, and recognize emergency sourcing options. While the company continues to scale, we’ll be watching their next moves with enthusiasm. 

7. ClearEstate

We are proud to place ClearEstate on this list for its wholesome mission of empowering executors settling their late loved one’s estate while also increasing the level of transparency throughout the entire settling process. ClearEstate’s cutting-edge solutions and highly trained professionals aim to be the one-stop-shop for families who may not necessarily be in the right frame of mind to focus on estate management, removing all stress and concerns that come with the process.

Though ClearEstate’s digital platform can be self-serve, most of its clients find that they need an empathetic connection during such difficult times. As a result, the company is one of few who uses SaaS from an emotional standpoint, tipping the scales and opening doors as to how much digital platforms can serve our community.

8. FreshBooks

Though definitely not a start-up, with its global customer base of 20 million people over 160 countries, FreshBooks’ accounting software integrations never cease to amaze. Having officially surpassed the $1 billion unicorn valuation, the Toronto-based tech company strives to amplify its international goals by becoming the most reliable platform, distinguishing itself from the scarcity experienced by businesses who use other global platforms. 

Since the last procurement of $163 million in 2021 and Don Epperson’s association as board member and executive director in 2019, the company recognized its overflow of demand and officially decided to go global. Indeed, FreshBooks is opening up more offices in Canada and Amsterdam, localizing products, adding more features to its platform, and then some. The company’s expansion is looking solid thus far and we are curious as to what will come next!

9. Vetsie

To all our pet lovers and professionals, Vetsie is on our list just for you and your little fur friend. Based in Calgary, software platform Vetsie acts in a two-fold fashion. The first concerns the veterinarian’s side wherein they may utilize the suggested tools to network with local pet parents through care messaging, live chatting, medical note exporting, virtual team set ups, and custom scheduling, all done via an integrated payments solution. 

On the pet owner’s end, individuals can easily attain peace of mind right at their fingertips. Aside from the assurance of medical attention, parents can book pet sitters, walkers and trainers on a user-friendly mobile interface. 

The concept of a digital pet ecosystem is truly noteworthy, especially for its convenience and reliability. We’re eager to hear more from Vetsie as it expands throughout Canada!

10. Babbly

First time parents have enough on their plate. Concerns of potential speech impediments or an overall desire to know where their infant stands regarding speech development and social skills are not to be taken lightly. Why not ease parents’ stress by letting them take action using machine learning to confidentially collect and record audios that could recognize speech patterns? Backed by speech and language pathologists, the Toronto-based start-up has the AI technology needed to categorize the forms of babbling, cooing, and crying, in addition to analyzing the interactions between infant and parent. 

Founded in 2018, the company has already raised $3.2 million in funding and has future plans to expand to other forms of development in other age groups. With its machine learning tools, the therapists under the Babbly umbrella can better answer parents’ questions and parents can trust that their baby is in the right hands. 

11. Billdr

Billdr is the one-stop-shop between homeowners and contractors. From start to finish, clients with renovation undertakings are assisted by a project manager throughout the entirety of the process, in full transparency and quality. Starting with Montreal in 2020, Billdr has since auspiciously expanded to the Toronto and Chicago markets. The company addresses the many challenges lived during a home renovation experience, such as finding a trustworthy contractor and maintaining seemingly blurry communications amongst parties. 

The Billdr process clearly works as the start-up recently secured $4 million thanks to their “Mamba mentality” and their detailed consideration for both the homeowner and the vetted contractors under its umbrella.

12. Firebelly Tea

Founded by the co-founder of DAVIDsTEA and the President of Shopify, Firebelly Tea is on the rise, kicking off with 20 high quality blends, seven tea-making accessories, and eight gift sets. Unlike DAVIDsTEA, Firebelly does not hold any storefronts and instead launched on a direct-to-consumer brand site where its chic products can be purchased either singularly or through a subscription based model, ensuring tea lovers never run out.

Along with taste and aesthetics, Firebelly teas are highly filtered in the benefits each can offer (Cold & Flu, Digestion, Energy, etc.), the flavours (Chai & Pumpkin, Coffee-like, Grassy & Clean, etc.), and even the time of day. Firebelly is truly changing the way we often conceptualize tea, bringing tech into the equation and breaking stereotypes of what tea is and can be.

Final Words

Summarizing all the great things these companies have accomplished so far would be impossible. If you’re thinking of lifting your start-up idea off the ground, we recommend you look into how these 12 businesses have gotten to where they are and allow yourself to get inspired!

Which companies left a lasting mark on you this year?