About Artificial Intelligence - Industry Applications sector in Canada
The Artificial Intelligence - Industry Applications sector in Canada comprises 450 companies, including 162 funded companies having collectively raised $5.28B in venture capital money and private equity. Out of these, 84 are Series A+ funded, and 3 have achieved unicorn status.
Artificial Intelligence - Industry Applications sector in Canada has seen 25 acquisitions and 3 IPOs. This represents almost 6.2% of all such companies - which is higher than the 4.5% exit rate of tech companies in general.
This sector includes companies providing Artificial Intelligence-based solutions for multiple industries including Healthcare, Financial Services, Auto, and Retail.
Artificial Intelligence - Industry Applications sector is also known as Applied AI, Industrial Artificial Intelligence or Sector AI Solutions.
Includes industry-specific Artificial Intelligence-based solutions like AI in Healthcare, AI in Retail, AI in Food, AI in Recruiting, etc. Companies offering industry-specific solutions that are not AI-based and AI-based solutions that are industry agnostic are excluded.
Top Artificial Intelligence - Industry Applications Companies in Canada
There are 450 Artificial Intelligence - Industry Applications startups in Canada which include Vention, Varicent, StackAdapt, Benchsci, Blue J. Out of these, 162 startups are funded, with 84 having secured Series A+ funding, and 3 achieving unicorn status.
2026 has seen the creation of 8 Artificial Intelligence - Industry Applications startups in Canada. Over the past 10 years, an average of 33 new companies have been launched annually. Notably, several of these startups have been founded by alumni of University of Toronto, University of Waterloo and McGill University.
Here is the list of top Artificial Intelligence - Industry Applications startups in Canada
1. Vention
Manufacturer of modular automation hardware and cloud based software platforms. This business provides integrated systems for factory floor operations, including mechanical components such as extrusions, actuators, and conveyors. The software suite enables users to design, program, simulate, and monitor automated machinery through a digital interface. These tools facilitate the assembly and deployment of robotic cells and material handling equipment. The platform supports remote monitoring and diagnostic capabilities for industrial machinery.
Key facts about Vention
- Founded Year: 2016
- Location: Montreal (Canada)
- Stage: Series D
- Total Funding till date: $263M
- Investors: Georgian, Real Ventures and 13 Others
- Latest Funding Round: Series D, Jan 27, 2026, $*****
- Tracxn Score: 71/100 What is this?
- Competitors Rank: 1 of 256 Competitors
2. Varicent
Provider of incentive compensation management solutions for enterprises. It provides incentive compensation management and sales performance management solutions for finance, sales, human resources, and IT departments. The solutions include incentive management, performance management, and others. The enterprises can set territories and quotas for sales teams and design complex compensation plans based on various factors. It offers embedded AI and GenAI assistants that help analyze data, optimize plans, and uncover revenue opportunities.
Key facts about Varicent
- Founded Year: 2003
- Location: Toronto (Canada)
- Stage: Acquired
- Total Funding till date: $49M
- Investors: FTV Capital, Warburg Pincus and 7 Others
- Latest Funding Round: PE, Jul 16, 2024, $*****
- Tracxn Score: 71/100 What is this?
- Competitors Rank: 2 of 128 Competitors
3. StackAdapt
Provider of an AI-powered platform for digital advertising campaign management. The platform offers tools for planning, executing, and analyzing advertising campaigns across various digital channels. It provides features such as audience targeting, creative design, and performance reporting. The platform supports advertising across connected TV, digital out-of-home, email, audio, video, and in-game channels.
Key facts about StackAdapt
- Founded Year: 2014
- Location: Toronto (Canada)
- Stage: Series B
- Total Funding till date: $537M
- Investors: Ontario Teachers' Pension Plan, Plaza Ventures and 9 Others
- Latest Funding Round: Series B, Feb 04, 2025, $*****
- Tracxn Score: 70/100 What is this?
- Competitors Rank: 2 of 1,311 Competitors
4. Benchsci
Developer of an AI platform for understanding disease biology. The platform integrates scientific data, including publications, multi-omics, and clinical trials, to provide a unified view of diseases. It combines a Biological Evidence Knowledge Graph with foundation models. The platform offers solutions like AI copilots and co-scientists that accelerate discovery. It ingests internal data to create a customized map of disease biology.
Key facts about Benchsci
- Founded Year: 2015
- Location: Toronto (Canada)
- Stage: Series D
- Total Funding till date: $170M
- Investors: Inovia Capital, TCV and 15 Others
- Latest Funding Round: Series D, May 25, 2023, $*****
- Tracxn Score: 68/100 What is this?
- Competitors Rank: 1 of 8 Competitors
5. Blue J
Blue J develops an AI platform for tax research and analysis. Its product, Ask Blue J, lets tax professionals ask complex questions in natural language and receive answers grounded in primary authority, including statutes, regulations, case law, and administrative guidance, with citations for verification. The platform also supports drafting client memoranda and analyzing uploaded documents. It covers US and Canadian federal tax and is used by accounting firms, law firms, and in-house tax teams. Blue J was founded in 2015 in Toronto by University of Toronto law professors Benjamin Alarie, Anthony Niblett, and Albert Yoon.
Key facts about Blue J
- Founded Year: 2015
- Location: Toronto (Canada)
- Stage: Series D
- Total Funding till date: $138M
- Investors: Sapphire Ventures, Oak HC/FT and 11 Others
- Latest Funding Round: Series D, Aug 04, 2025, $*****
- Tracxn Score: 67/100 What is this?
- Competitors Rank: 1 of 6 Competitors
Companies founded year-on-year in the Artificial Intelligence - Industry Applications sector in Canada
8 new startups have been founded so far in 2026 in the Artificial Intelligence - Industry Applications sector in Canada. 63 Artificial Intelligence - Industry Applications startups in Canada were founded in 2023 - this is the most number of startups founded in any year in the last 10 years.
- Total Number of Companies
Year | No. of companies |
|---|---|
2026 | 8 |
2025 | 17 |
2024 | 40 |
2023 | 63 |
2022 | 34 |
2021 | 31 |
2020 | 43 |
2019 | 31 |
2018 | 35 |
2017 | 33 |
Stage-wise distribution of Artificial Intelligence - Industry Applications sector companies in Canada
Out of the total 450 Artificial Intelligence - Industry Applications companies in Canada, 162 have secured funding. Among them, 84 have reached Series A or higher, and 50 to Series B or beyond.
Founded - 450
Funded - 162
Series A+ - 84
Series B+ - 50
Series C+ - 41
Company Stage | No. of companies |
|---|---|
Founded | 450 |
Funded | 162 |
Series A+ | 84 |
Series B+ | 50 |
Series C+ | 41 |
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Funding Trends in the Artificial Intelligence - Industry Applications sector in Canada
Total funding year-on-year in the Artificial Intelligence - Industry Applications sector in Canada
The Artificial Intelligence - Industry Applications sector in Canada saw a total funding of more than $5.06B in the last 10 years. The most amount of funding was in 2021 at more than $1.26B. There has been a total funding of $997M in 2026 till date.
- Total Funding
Year | Total Funding |
|---|---|
2026 | $997M |
2025 | $757M |
2024 | $388M |
2023 | $348M |
2022 | $738M |
2021 | $1.26B |
2020 | $239M |
2019 | $157M |
2018 | $107M |
2017 | $66.2M |
Recent Funding Rounds in Artificial Intelligence - Industry Applications in Canada
In the year 2026, till June 2026, Artificial Intelligence - Industry Applications companies in Canada have raised $991M in equity funding across 10 rounds.
In the same period last year (i.e. till June 2025), Artificial Intelligence - Industry Applications companies in Canada had raised $464M across 18 rounds.
So, 2026 has seen a 113.64% rise in funding in Artificial Intelligence - Industry Applications companies in Canada as compared to 2025.
Here are some recent, important funding rounds in Artificial Intelligence - Industry Applications companies in Canada:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Series A | 3716 | Jun 04, 2026 | ||
Series A | 8914 | May 28, 2026 | ||
Series A | 2401 | Apr 24, 2026 | ||
Series B | 3259 | Mar 23, 2026 | ||
Seed | 3942 | Feb 24, 2026 |
Top Investors in Artificial Intelligence - Industry Applications in Canada
Plug and Play Tech Center is the top investor in Artificial Intelligence - Industry Applications companies in Canada based on number of companies invested.
Here are some top investors in Artificial Intelligence - Industry Applications companies in Canada:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Sunnyvale (United States) | ||
Menlo Park (United States) | ProteinQure and Covalent | |
Montreal (Canada) | ||
London (United Kingdom) | ||
Toronto (Canada) |
M&A activity in Artificial Intelligence - Industry Applications sector in Canada
In the year 2026, till June 2026, 3 acquisitions happened in Artificial Intelligence - Industry Applications sector in Canada. Last year, in 2025, a total of 3 acquisitions happened in Artificial Intelligence - Industry Applications sector in Canada.
Here are some recent, important acquisitions in Artificial Intelligence - Industry Applications sector in Canada:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Jun 15, 2026 | ||
Business Acquisition | May 19, 2026 | ||
Business Acquisition | Mar 18, 2026 | ||
Business Acquisition | Dec 05, 2025 | ||
Business Acquisition | Nov 05, 2025 |
Acquisition trends in Artificial Intelligence - Industry Applications sector in Canada
Here are the acquisition trends in Artificial Intelligence - Industry Applications sector in Canada:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | 3 |
2025 | 3 |
2024 | 3 |
2023 | 6 |
2022 | 4 |
2021 | - |
2020 | - |
2019 | 2 |
2018 | 4 |
2017 | 1 |
IPOs in Artificial Intelligence - Industry Applications in Canada
In the year 2026, till April 2026, 1 IPO happened in Artificial Intelligence - Industry Applications sector in Canada.
Here are some recent, important IPOs in Artificial Intelligence - Industry Applications sector in Canada:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Apr 09, 2026 | Toronto Stock Exchange - Venture Exchange (TSX-V) | |
Jan 08, 2025 | CBOE Stock Exchange (CBSX) | |
Mar 12, 2021 | Frankfurt Stock Exchange (FRA) | |
Jan 11, 2021 | Canadian Securities Exchange (CSE) | |
Oct 31, 2008 | OTC Markets (OTCMKTS) |
Colleges which produce the most Artificial Intelligence - Industry Applications companies in Canada
Companies founded by alumni from top colleges in the Artificial Intelligence - Industry Applications in Canada
Most number of Artificial Intelligence - Industry Applications startups in Canada have been founded by alumni from University of Toronto, University of Waterloo and McGill University.
College | No. of companies |
|---|---|
University of Toronto | 26 |
University of Waterloo | 15 |
McGill University | 4 |
McMaster University | 4 |
Stanford University | 4 |
The University of British Columbia | 4 |
York University | 4 |
Carnegie Mellon University | 3 |
Harvard Business School | 3 |
Harvard University | 3 |
Total funding in Artificial Intelligence - Industry Applications companies founded by alumni from top colleges in Canada
In the last 10 years, University of Toronto graduates' Artificial Intelligence - Industry Applications companies in Canada have raised the most funding among top colleges. Harvard University alumni are second, and Harvard Business School alumni are third.
College | Total Funding |
|---|---|
University of Toronto | $1.31B |
Harvard University | $405M |
Harvard Business School | $267M |
McMaster University | $184M |
Stanford University | $152M |
The University of Melbourne | $138M |
Yale University | $138M |
Duke University | $136M |
University of Waterloo | $131M |
Queen's University | $60M |
Top News in Artificial Intelligence - Industry Applications in Canada
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Varicent Named a Leader in the 2026 Gartner® Magic Quadrant™ for Sales Performance ManagementFinancial Post•Jul 09, 2026•Varicent
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Quandri Partners With FirstChoice to Bring AI-Driven Insurance Automation to Independent AgenciesInsuranceNewsNet•Jul 07, 2026•MarshBerry, Quandri
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SalesCloser Secures Second U.S. Patent for AI-Driven Call Automation TechnologyGlobeNewswire•May 26, 2026•SalesCloser AI
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SalesCloser Partners with Twilio to Streamline Customer Voice DeploymentsGlobeNewswire•May 08, 2026•SalesCloser AI, Twilio
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SalesCloser Technologies Secures U.S. Patent for AI-Powered Conversational Workflow TechnologyGlobeNewswire•May 01, 2026•SalesCloser AI
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SalesCloser Technologies Announces Listing on the Frankfurt Stock ExchangeGlobeNewswire•Apr 17, 2026•SalesCloser AI
