About EdTech sector in Canada
The EdTech sector in Canada comprises 2.93K companies, including 279 funded companies having collectively raised $1.85B in venture capital money and private equity. Out of these, 107 are Series A+ funded, and 1 has achieved unicorn status.
EdTech sector in Canada has seen 68 acquisitions and 16 IPOs.
This sector includes companies providing technology-based education industry solutions to both consumers and businesses.
EdTech sector is also known as Education IT, Online Education or Digital Education.
Companies that provide technology based solutions to students(Pre-K, K-12, Higher education and Professionals) for education. Also, companies that rovide software solutions to education related businesses are included in this sector. Companies that provide offline solutions to the education industry. Also, sports and fitness related solutions to athletes are excluded.
Top EdTech Companies in Canada
There are 2,931 EdTech startups in Canada which include D2L, Top Hat, Prodigy, Thinkific, CFI. Out of these, 279 startups are funded, with 107 having secured Series A+ funding, and 1 achieving unicorn status.
2026 has seen the creation of 69 EdTech startups in Canada. Over the past 10 years, an average of 140 new companies have been launched annually. Notably, several of these startups have been founded by alumni of University of Toronto, University of Waterloo and Columbia University.
Here is the list of top EdTech startups in Canada
1. D2L
Provider of LMS systems for multiple sectors. It offers virtual and professional learning solutions. It provides blended,virtual,professional,customer,employes and partner training for corporates. They also provides products with tools for the management of classroom learning and the workplace.
Key facts about D2L
- Founded Year: 1999
- Location: Kitchener (Canada)
- Stage: Public
- Total Funding till date: $244M
- Investors: New Enterprise Associates, OMERS and 6 Others
- Latest Funding Round: Conventional Debt, Aug 14, 2014, $*****
- Tracxn Score: 76/100 What is this?
- Competitors Rank: 10 of 9,978 Competitors
2. Top Hat
Provider of interactive learning software for higher education course management. This platform facilitates student engagement through digital tools including polling, quizzes, and interactive textbooks. It integrates with learning management systems to track attendance, monitor student performance, and deliver course content. The software includes artificial intelligence features to assist with assessment creation and study support. Educators use these tools to manage classroom activities and identify learning gaps through data analytics.
Key facts about Top Hat
- Founded Year: 2009
- Location: Toronto (Canada)
- Stage: Series E
- Total Funding till date: $200M
- Investors: Georgian, Emergence Capital and 20 Others
- Latest Funding Round: Series E, Feb 04, 2021, $*****
- Tracxn Score: 72/100 What is this?
- Competitors Rank: 2 of 1,079 Competitors
3. Prodigy
Developer of adaptive learning games for math and English education. The platform provides standards-aligned skills practice through engaging gameplay experiences for students. It offers tools for teachers to adjust content and track student development. Parent accounts provide insights into classroom progress and motivate learning.
Key facts about Prodigy
- Founded Year: 2011
- Location: Oakville (Canada)
- Stage: Series B
- Total Funding till date: $125M
- Investors: Canadian Business Growth Fund, TPG and 2 Others
- Latest Funding Round: Series B, Jan 12, 2021, $*****
- Tracxn Score: 70/100 What is this?
- Competitors Rank: 1 of 383 Competitors
4. Thinkific
Provider of online academy builder. It enables users to create online courses, digital products, and communities that actually sell. It works on a premium model with revenue generated from transaction fees and subscriptions.
Key facts about Thinkific
- Founded Year: 2012
- Location: Vancouver (Canada)
- Stage: Public
- Total Funding till date: $25M
- Investors: Rhino Ventures, VFF and 5 Others
- Latest Funding Round: Series A, Sep 29, 2020, $*****
- Tracxn Score: 70/100 What is this?
- Competitors Rank: 2 of 1,420 Competitors
5. CFI
Online finance and banking training and certifications. It offers various certifications in areas such as financial modeling, business intelligence, commercial banking, and capital markets. Its training includes courses, learning paths, and access to templates and resources. It develops practical skills and enhances professional credibility in the finance industry, delivered through video lessons, interactive exercises, and skill validation assessments.
Key facts about CFI
- Founded Year: 2016
- Location: Vancouver (Canada)
- Stage: Series B
- Total Funding till date: $48M
- Investors: Elephant Venture Capital and Arthur Ventures
- Latest Funding Round: Series B, Mar 21, 2021, $*****
- Tracxn Score: 69/100 What is this?
- Competitors Rank: 8 of 5,697 Competitors
Companies founded year-on-year in the EdTech sector in Canada
69 new startups have been founded so far in 2026 in the EdTech sector in Canada. 295 EdTech startups in Canada were founded in 2020 - 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 | 69 |
2025 | 68 |
2024 | 91 |
2023 | 121 |
2022 | 118 |
2021 | 186 |
2020 | 295 |
2019 | 194 |
2018 | 139 |
2017 | 128 |
Stage-wise distribution of EdTech sector companies in Canada
Out of the total 2,931 EdTech companies in Canada, 279 have secured funding. Among them, 107 have reached Series A or higher, and 94 to Series B or beyond.
Founded - 2,931
Funded - 279
Series A+ - 107
Series B+ - 94
Series C+ - 88
Company Stage | No. of companies |
|---|---|
Founded | 2,931 |
Funded | 279 |
Series A+ | 107 |
Series B+ | 94 |
Series C+ | 88 |
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Funding Trends in the EdTech sector in Canada
Total funding year-on-year in the EdTech sector in Canada
The EdTech sector in Canada saw a total funding of more than $1.49B in the last 10 years. The most amount of funding was in 2021 at more than $775M. There has been a total funding of $250K in 2026 till date.
- Total Funding
Year | Total Funding |
|---|---|
2026 | $250K |
2025 | $2.8M |
2024 | $9.56M |
2023 | $3.97M |
2022 | $299M |
2021 | $775M |
2020 | $261M |
2019 | $65.8M |
2018 | $25.7M |
2017 | $50.3M |
Recent Funding Rounds in EdTech in Canada
In the year 2026, till July 2026, EdTech companies in Canada have raised $250K in equity funding across 2 rounds.
In the same period last year (i.e. till July 2025), EdTech companies in Canada had raised $2.18M across 5 rounds.
So, 2026 has seen a 88.51% drop in funding in EdTech companies in Canada as compared to 2025.
Here are some recent, important funding rounds in EdTech companies in Canada:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Seed | 7478 | Jul 23, 2026 | ||
Seed | 8083 | Apr 13, 2026 | - | |
Unattributed | 1391 | Oct 29, 2025 | - | |
Seed | 2425 | 2025 | ||
Unattributed | 3093 | Jun 04, 2025 | - |
Top Investors in EdTech in Canada
Plug and Play Tech Center is the top investor in EdTech companies in Canada based on number of companies invested.
Here are some top investors in EdTech companies in Canada:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Sunnyvale (United States) | ||
Menlo Park (United States) | ||
Waterloo (Canada) | ||
Montreal (Canada) | ||
Toronto (Canada) |
M&A activity in EdTech sector in Canada
In the year 2026, till June 2026, 3 acquisitions happened in EdTech sector in Canada. Last year, in 2025, a total of 6 acquisitions happened in EdTech sector in Canada.
Here are some recent, important acquisitions in EdTech sector in Canada:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Jun 15, 2026 | ||
Business Acquisition | Feb 19, 2026 | ||
Business Acquisition | Feb 09, 2026 | ||
Business Acquisition | Dec 06, 2025 | ||
Business Acquisition | Oct 14, 2025 |
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Acquisition trends in EdTech sector in Canada
Here are the acquisition trends in EdTech sector in Canada:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | 3 |
2025 | 6 |
2024 | 5 |
2023 | 6 |
2022 | 6 |
2021 | 10 |
2020 | 2 |
2019 | 1 |
2018 | 5 |
2017 | 9 |
IPOs in EdTech in Canada
In the year 2022, till January 2022, 1 IPO happened in EdTech sector in Canada.
Here are some recent, important IPOs in EdTech sector in Canada:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Jan 10, 2022 | Canadian Securities Exchange (CSE) | |
Nov 03, 2021 | Toronto Stock Exchange (TSX) | |
Jul 30, 2021 | New York Stock Exchange (NYSE) | |
May 07, 2021 | Frankfurt Stock Exchange (FRA) | |
Apr 27, 2021 | Toronto Stock Exchange (TSX) |
Colleges which produce the most EdTech companies in Canada
Companies founded by alumni from top colleges in the EdTech in Canada
Most number of EdTech startups in Canada have been founded by alumni from University of Toronto, University of Waterloo and Columbia University.
College | No. of companies |
|---|---|
University of Toronto | 37 |
University of Waterloo | 24 |
Columbia University | 5 |
McMaster University | 5 |
Harvard University | 4 |
York University | 4 |
Carnegie Mellon University | 3 |
McGill University | 3 |
Queen's University | 3 |
University of Cambridge | 3 |
Total funding in EdTech companies founded by alumni from top colleges in Canada
In the last 10 years, University of Waterloo graduates' EdTech companies in Canada have raised the most funding among top colleges. Carnegie Mellon University alumni are second, and University of Toronto alumni are third.
College | Total Funding |
|---|---|
University of Waterloo | $1.11B |
Carnegie Mellon University | $61.1M |
University of Toronto | $38.8M |
Columbia Business School | $20.9M |
Columbia University | $20.9M |
Harvard University | $14.6M |
Harvard Business School | $13.3M |
Imperial College London | $2.5M |
University of California (Berkeley) | $1.6M |
University of Cambridge | $1.42M |
Top News in EdTech in Canada
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China Expands Green Grain Storage Network with Smart TechnologiesChina Daily•May 14, 2026•Smart Technologies
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Contacta Systems Set Foothold in APAC with YYST Distribution DealSystems Integration Asia•Nov 23, 2025•Smart Technologies
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SMART Technologies unveils educational product at DIDAC 2025Entrackr•Nov 20, 2025•Smart Technologies
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