About DMZ Ventures
DMZ Ventures, an accelerator and incubator program founded in 2010, is based in Toronto, Canada. With a presence in 11 countries, it has supported around 96 startups in sectors like Enterprise Applications, High Tech. As of Nov 2026, DMZ Ventures has 1 unicorn under its belt and has witnessed 8 portfolio exits. Most notable companies in
its portfolio include Borrowell, Wave and Ada. The program is backed by a team of 6 people who primarily support Seed startups based in Canada. Its latest investment was a Undisclosed Seed round in flexgrid on Jun 2026.
DMZ Ventures' List of Top Investments
DMZ Ventures has a portfolio of 96 companies, one of which is a Unicorn. Their most notable investmentis in FlipdTheir portfolio spans across Canada, United States, India and 8 more locations. They have invested in Enterprise Applications, High Tech, Consumer and 24 other sectors, across stages such as Seed, Grant (prize money) and 1 more. Here is the list of top investments by DMZ Ventures:
1. Borrowell
Provider of a credit monitoring and financial products comparison platform. It provides users with a platform where users have to register on the platform for access to credit reports. It offers personalized product recommendations and credit improvement tips based on the credit report. Allows users to compare credit cards, personal loans, mortgages, bank accounts, home and auto insurance and investment products.
Key facts about Borrowell
- Founded Year: 2014
- Location: Toronto (Canada)
- Stage: Series B
- Total Funding till date: $53.6M
- Employee Count: 124 as on Sep 30, 2026
- Investors: Sagard, National Bank of Canada and 29 Others
- Latest Funding Round: Series B, Feb 22, 2021, $*****
- Highlight: Editors' Pick
2. Wave
Wave provides web-based accounting software for businesses. It features solutions for accounting to track income and expenses, invoicing to create and send invoices to customers with multiple templates, receipt scanning, mobile invoicing, recurring billing, and more. The mobile application is available on both IOS platform and the APK version.
Key facts about Wave
- Founded Year: 2010
- Location: Toronto (Canada)
- Stage: Acquired
- Total Funding till date: $82.4M
- Employee Count: 273 as on Sep 30, 2026
- Investors: HarbourVest Partners, Founders Growth Equity Fund and 20 Others
- Latest Funding Round: Series D, May 02, 2019, $*****
- Highlight: Acquired
3. Ada
AI platform for text based customer support. The platform helps organizations manage customer conversations across different industries through written communication. It supports handling inquiries, responses, and ongoing support interactions within a centralized online system.
Key facts about Ada
- Founded Year: 2016
- Location: Toronto (Canada)
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $200M
- Employee Count: 803 as on Sep 30, 2026
- Investors: Spark Capital, FedDev Ontario and 22 Others
- Latest Funding Round: Grant (prize money), Mar 04, 2025, $*****
- Highlight: Editors' Pick
4. Zensurance
Zensurance is an online platform that helps startups and small businesses to manage all their business insurance needs. It lets them to identify the policies tailored to their businesses and compare rates from insurance companies. It provides insurance quotes for hotel, media, financial services, real estate, healthcare industry etc.
Key facts about Zensurance
- Founded Year: 2016
- Location: Toronto (Canada)
- Stage: Acquired
- Total Funding till date: $2.2M
- Employee Count: 318 as on Sep 30, 2026
- Investors: MaRS Discovery District, DMZ Ventures and 3 Others
- Latest Funding Round: Seed, Jul 2018, $*****
- Highlight: Acquired
5. Flybits
Flybits is a banking channel for enterprises. It features Context-as-a-Service platform that enables banks and other enterprises to create and deliver context-aware mobile applications. It features tools for creating personalized mobile experiences on top of traditional app development and simple location-based services. It supports the iOS and Android devices and helps in scaling to handle the data sources of the emerging internet-of-things.
Key facts about Flybits
- Founded Year: 2013
- Location: Toronto (Canada)
- Stage: Series C
- Total Funding till date: $50M
- Employee Count: 53 as on Sep 30, 2026
- Investors: Information Venture Partners, Mastercard and 18 Others
- Latest Funding Round: Series C, Jul 16, 2019, $*****
- Highlight: Editors' Pick
DMZ Ventures' Year-on-Year Investment Trends
DMZ Ventures has invested in 96 companies over the last 12 years, with an average of 1 new investment annually in the last 10 years. In 2025, it made 1 investment, while as of Jun 2026, it has made 1 investment in this year. Its most recent first time investment was in flexgrid.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 1 | 0 | 1 |
2025 | 1 | 0 | 1 |
2024 | 0 | 0 | 0 |
2023 | 0 | 0 | 0 |
2022 | 1 | 0 | 1 |
2021 | 0 | 0 | 0 |
2020 | 0 | 0 | 0 |
2019 | 0 | 0 | 0 |
2018 | 2 | 0 | 2 |
2017 | 2 | 0 | 2 |
DMZ Ventures' Investments by Stage
DMZ Ventures has made 9 investments in Seed stage with an average round size of $1.02M, 1 investment in Grant (prize money) stage with an average round size of $15.6K and 1 investment in Series A stage with an average round size of $3.75M.Stage of entry | No. of Investments |
|---|---|
Seed | 9 |
Grant (prize money) | 1 |
Series A | 1 |
Note: We have considered here, only first round of investments
DMZ Ventures' Investments by Sector
DMZ Ventures has a diverse portfolio, with companies operating in the Enterprise Applications, FinTech, Consumer, High Tech and Artificial Intelligence - Industry Applications. Notably, it has invested in 87 Tech companies, 67 Enterprise (B2B) companies, 67 Software companies and at least 38 companies focusing on Saas.Sector | No. of Investments |
|---|---|
Enterprise Applications | 7 |
FinTech | 5 |
Consumer | 3 |
High Tech | 2 |
Artificial Intelligence - Industry Applications | 1 |
Others | 4 |
Note: We have considered here, only first round of investments
DMZ Ventures' Investments by Geography
DMZ Ventures has made most investments in Canada (6), followed by United States where it has made 3 investments.Country | No. of Investments |
|---|---|
Canada | 6 |
United States | 3 |
India | 2 |
Note: We have considered here, only first round of investments
DMZ Ventures' recent investments
DMZ Ventures has made 1 investments in 2026 so far - flexgrid.Here are the most recent investments by DMZ Ventures:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Jun 2026 | United States | Seed | 1295 | - | |
Nov 09, 2025 | Canada | Seed | 3044 | [+1] | |
Feb 25, 2022 | United States | Grant (prize money) | 3009 | - | |
Nov 29, 2018 | India | Seed | 9419 | [+24] | |
Jul 2018 | Canada | Seed | 3406 | - |
Unicorns in DMZ Ventures' Portfolio
DMZ Ventures has 1 unicorn in its portfolio - Ada. The most recent unicorn in their portfolio is Ada which became a unicorn in 2021, 5 years before DMZ Ventures first invested in it.Here is a list of unicorns in DMZ Ventures' portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
66 | AI platform for text based customer support | 2016 | Toronto | Series C | ujoirry |
Acquired companies in DMZ Ventures' Portfolio
8 companies from DMZ Ventures' portfolio have been acquired. The most recent acquisition was MoveMate in Jun 2026 by MovingWaldo for $*****.Here are DMZ Ventures' portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jun 10, 2026 | - | - | 3327 | |
Mar 18, 2025 | - | - | 3186 | |
Oct 03, 2022 | Mar 26, 2015 | Seed | 7137 | |
Sep 24, 2021 | - | - | 4433 | |
Jan 27, 2020 | - | - | 3827 |
Team profile of DMZ Ventures
DMZ Ventures has a team of 6 members including 3 Partners located in Canada. DMZ Ventures' team sits on the board of 1 company.Here is a list of all team members in DMZ Ventures:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Toronto | - | ||
Partner | - | - | - | |
Partner | - | - | - |
Co-investors of DMZ Ventures
Over the past 12 years, 131 investors have co-invested in DMZ Ventures's portfolio companies. This includes funds and angels.
- Invested before DMZ Ventures: Ferst Capital Partners, Portage Ventures and 57 others have invested in rounds before DMZ Ventures. There is 1 company where Ferst Capital Partners has invested before DMZ Ventures and 1 company where Portage Ventures has invested before DMZ Ventures.
- Top Co-investors of DMZ Ventures: 50 investors entered a company along with DMZ Ventures. These include investors like Trellis Capital (1 company).
- Invested after DMZ Ventures: A total of 22 investors have invested in DMZ Ventures's portfolio after their investments. Top Investors include Information Venture Partners (2 companies) and Mastercard (1 company).
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