About Enterprise Applications sector in Toronto, Canada
The Enterprise Applications sector in Toronto, Canada comprises 5.92K companies, including 1.29K funded companies having collectively raised $17B in venture capital money and private equity. Out of these, 693 are Series A+ funded, and 9 have achieved unicorn status.
Enterprise Applications sector in Toronto, Canada has seen 422 acquisitions and 71 IPOs. This represents almost 8.3% of all such companies - which is higher than the 4.0% exit rate of tech companies in general.
This sector includes companies providing software and services for businesses to manage their day-to-day business functions and applications.
Enterprise Applications sector is also known as Enterprise Tech, Enterprise Apps, Enterprise Software or Enterprise Saas.
Companies offering software and services for marketing, sales, advertising, loyalty, HR, Collaboration, supply chain management, customer service, legal, data as a service, risk and compliance, digital transformation, enterprise consulting, ERP, Localisation, Enterprise video creation, Local Business Management, and Event management are included in this sector. Companies offering solutions for enterprise infrastructure (networks, servers, software development, cybersecurity, cloud, etc), Hi-Tech companies (AI, AR VR, Quantum, etc), Solutions for consumers are excluded.
Top Enterprise Applications Companies in Toronto, Canada
There are 5,915 Enterprise Applications startups in Toronto, Canada which include AlayaCare, Cohere, Dayforce, 1Password, Borrowell. Out of these, 1,290 startups are funded, with 693 having secured Series A+ funding, and 9 achieving unicorn status.
2026 has seen the creation of 214 Enterprise Applications startups in Toronto, Canada. Over the past 10 years, an average of 297 new companies have been launched annually. Notably, several of these startups have been founded by alumni of University of Toronto, University of Waterloo and York University.
Here is the list of top Enterprise Applications startups in Toronto, Canada
1. AlayaCare
Alayacare offers a cloud-based software platform for home healthcare practitioners. The platform features clinical documentation, back-office functionality, patient and family portals, remote patient monitoring, telehealth, and mobile care worker apps. It also helps in analyzing wearable devices to fetch patient data for processing through machine learning technology by giving real-time insights for the care professionals.
Key facts about AlayaCare
- Founded Year: 2014
- Location: Toronto (Canada)
- Stage: Series D
- Total Funding till date: $274M
- Investors: Inovia Capital, Generation Investment Management and 17 Others
- Latest Funding Round: Conventional Debt, Feb 20, 2026, $*****
- Tracxn Score: 79/100 What is this?
- Competitors Rank: 1 of 198 Competitors
2. Cohere
Developer of enterprise AI platform and multilingual language and retrieval models. The company provides tools for workplace productivity, intelligent search, and semantic text representation. It offers models for relevance-based result refinement and high-performance generative tasks. The platform supports customization and private deployments, catering to various industries. It also provides developer resources, including API access and technical documentation.
Key facts about Cohere
- Founded Year: 2019
- Location: Toronto (Canada)
- Stage: Series D
- Total Funding till date: $1.54B
- Investors: Inovia Capital, Sapphire Ventures and 37 Others
- Latest Funding Round: Series D, Sep 24, 2025, $*****
- Tracxn Score: 78/100 What is this?
- Competitors Rank: 4 of 182 Competitors
3. Dayforce
Developer of human capital management software providing HR and talent solutions. The company offers a platform delivering human resources, payroll, talent management, and workforce management functionalities. The platform provides reporting and analytics, helping organizations to manage their workforce. It focuses on streamlining processes and offering insights for decision-making.
Key facts about Dayforce
- Founded Year: 2008
- Location: Toronto (Canada)
- Stage: Acquired
- Total Funding till date: $30M
- Investors: Bridgescale, Ceridian and 2 Others
- Latest Funding Round: Series B, Feb 15, 2011, $*****
- Tracxn Score: 78/100 What is this?
- Competitors Rank: 6 of 3,368 Competitors
4. 1Password
Cloud based platform for remote access software. It stores passwords and provides document storage. It allows the user to control what information to make visible, delegate management roles, and get comprehensive usage reports. It offers features such as password manager, access management, two factor authentication, passkeys, and more. The app supports Mac, Windows, Android, iOS, and the web. The customers include Today, BBC, CNN, and Mashable.
Key facts about 1Password
- Founded Year: 2006
- Location: Toronto (Canada)
- Stage: Series C
- Total Funding till date: $920M
- Investors: Accel, Iconiq Capital and 39 Others
- Latest Funding Round: Series C, Dec 17, 2021, $*****
- Tracxn Score: 76/100 What is this?
- Competitors Rank: 2 of 563 Competitors
5. 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
- Investors: Equitable Bank, Portage and 28 Others
- Latest Funding Round: Series B, Feb 22, 2021, $*****
- Tracxn Score: 75/100 What is this?
Companies founded year-on-year in the Enterprise Applications sector in Toronto
214 new startups have been founded so far in 2026 in the Enterprise Applications sector in Toronto. 466 Enterprise Applications startups in Toronto 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 | 214 |
2025 | 207 |
2024 | 244 |
2023 | 269 |
2022 | 209 |
2021 | 285 |
2020 | 466 |
2019 | 422 |
2018 | 346 |
2017 | 317 |
Stage-wise distribution of Enterprise Applications sector companies in Toronto
Out of the total 5,915 Enterprise Applications companies in Toronto, 1,290 have secured funding. Among them, 693 have reached Series A or higher, and 577 to Series B or beyond.
Founded - 5,915
Funded - 1,290
Series A+ - 693
Series B+ - 577
Series C+ - 537
Company Stage | No. of companies |
|---|---|
Founded | 5,915 |
Funded | 1,290 |
Series A+ | 693 |
Series B+ | 577 |
Series C+ | 537 |
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Funding Trends in the Enterprise Applications sector in Toronto
Total funding year-on-year in the Enterprise Applications sector in Toronto
The Enterprise Applications sector in Toronto saw a total funding of more than $14.9B in the last 10 years. The most amount of funding was in 2021 at more than $3.38B. There has been a total funding of $1.37B in 2026 till date.
- Total Funding
Year | Total Funding |
|---|---|
2026 | $1.37B |
2025 | $2.21B |
2024 | $1.58B |
2023 | $1.02B |
2022 | $2.26B |
2021 | $3.38B |
2020 | $685M |
2019 | $963M |
2018 | $943M |
2017 | $491M |
Recent Funding Rounds in Enterprise Applications in Toronto
In the year 2026, till September 2026, Enterprise Applications companies in Toronto have raised $1.27B in equity funding across 37 rounds.
In the same period last year (i.e. till September 2025), Enterprise Applications companies in Toronto had raised $1.37B across 55 rounds.
So, 2026 has seen a 7.51% drop in funding in Enterprise Applications companies in Toronto as compared to 2025.
Here are some recent, important funding rounds in Enterprise Applications companies in Toronto:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Series A | 4396 | Sep 28, 2026 | ||
Series A | 6607 | Sep 22, 2026 | and 4 more | |
Series A | 4952 | Sep 21, 2026 | ||
Seed | 1959 | Sep 21, 2026 | ||
Seed | 8014 | Aug 19, 2026 |
Top Investors in Enterprise Applications in Toronto
Plug and Play Tech Center is the top investor in Enterprise Applications companies in Toronto based on number of companies invested.
Here are some top investors in Enterprise Applications companies in Toronto:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Sunnyvale (United States) | ||
Toronto (Canada) | ||
San Francisco (United States) | ||
New York City (United States) | - | |
Toronto (Canada) |
M&A activity in Enterprise Applications sector in Toronto
In the year 2026, till September 2026, 20 acquisitions happened in Enterprise Applications sector in Toronto. Last year, in 2025, a total of 28 acquisitions happened in Enterprise Applications sector in Toronto.
Here are some recent, important acquisitions in Enterprise Applications sector in Toronto:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Sep 21, 2026 | ||
Business Acquisition | Aug 10, 2026 | ||
Business Acquisition | Jul 28, 2026 | ||
Business Acquisition | Jul 13, 2026 | ||
Business Acquisition | Jul 07, 2026 |
Acquisition trends in Enterprise Applications sector in Toronto
Here are the acquisition trends in Enterprise Applications sector in Toronto:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | 20 |
2025 | 28 |
2024 | 30 |
2023 | 16 |
2022 | 50 |
2021 | 64 |
2020 | 35 |
2019 | 43 |
2018 | 37 |
2017 | 26 |
IPOs in Enterprise Applications in Toronto
In the year 2026, till March 2026, 2 IPOs happened in Enterprise Applications sector in Toronto.
Here are some recent, important IPOs in Enterprise Applications sector in Toronto:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Mar 26, 2026 | Toronto Stock Exchange (TSX) | |
Feb 18, 2026 | Toronto Stock Exchange (TSX) | |
Jul 08, 2024 | Canadian Securities Exchange (CSE) | |
Jun 27, 2024 | Toronto Stock Exchange - Venture Exchange (TSX-V) | |
Oct 06, 2023 | Frankfurt Stock Exchange (FRA) |
Colleges which produce the most Enterprise Applications companies in Toronto
Companies founded by alumni from top colleges in the Enterprise Applications in Toronto
Most number of Enterprise Applications startups in Toronto have been founded by alumni from University of Toronto, University of Waterloo and York University.
College | No. of companies |
|---|---|
University of Toronto | 308 |
University of Waterloo | 121 |
York University | 32 |
Queen's University | 28 |
McGill University | 27 |
Harvard University | 23 |
Harvard Business School | 19 |
McMaster University | 19 |
Ivey School of Business | 15 |
Stanford University | 13 |
Total funding in Enterprise Applications companies founded by alumni from top colleges in Toronto
In the last 10 years, University of Toronto graduates' Enterprise Applications companies in Toronto have raised the most funding among top colleges. University of Oxford alumni are second, and University of Waterloo alumni are third.
College | Total Funding |
|---|---|
University of Toronto | $5.77B |
University of Oxford | $1.72B |
University of Waterloo | $578M |
Queen's University | $436M |
Harvard University | $321M |
McMaster University | $275M |
Ivey School of Business | $226M |
Imperial College London | $212M |
Kellogg School of Management | $209M |
Stanford University | $206M |
Top News in Enterprise Applications in Toronto
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Point S International Expands Own-Brand Tyre Range with EV-Compatible 4 Seasons 3Tyrepress•Sep 23, 2026•Points
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Cority Named a Leader in Verdantix Green Quadrant for EHS Software for Seventh Consecutive YearThe Canadian Press•Sep 21, 2026•Cority
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Q4 Inc. Enhances Investor Relations Platform with AI-Powered Intelligence and Automated Earnings Call FeaturesFinancial Post•Sep 21, 2026•Q4
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Quickplay Launches Engagement Quality Score (EQS) to Optimize Media Content MonetizationPR Newswire•Sep 10, 2026•Quickplay
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