About HealthTech SaaS sector in Canada
The HealthTech SaaS sector in Canada comprises 899 companies, including 205 funded companies having collectively raised $3.3B in venture capital money and private equity. Out of these, 110 are Series A+ funded, and 1 has achieved unicorn status.
HealthTech SaaS sector in Canada has seen 61 acquisitions and 14 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 cloud-based, multi-tenant and subscription or on-demand B2B software applications for health applications.
HealthTech SaaS sector is also known as HealthTech SaaSTech, HealthTech SaaS-Tech, Digital HealthTech SaaS or HealthTech SaaS Technology Solutions.
All B2B software that offers cloud-based, multi-tenant solutions for business functions like Marketing, HR, Sales, Business Intelligence in Healthcare space are included in this sector. Excludes standalone consumer-facing health or fitness applications (B2C), traditional on-premise legacy medical records software that lacks cloud-native multi-tenancy, custom single-tenant software built exclusively for individual hospital networks, medical equipment manufacturers, and pure-play offline digital healthcare consulting or non-software healthcare outsourcing services.
Top HealthTech SaaS Companies in Canada
There are 899 HealthTech SaaS startups in Canada which include AlayaCare, PointClickCare, WellnessLiving, Benchsci, League. Out of these, 205 startups are funded, with 110 having secured Series A+ funding, and 1 achieving unicorn status.
2026 has seen the creation of 27 HealthTech SaaS startups in Canada. Over the past 10 years, an average of 39 new companies have been launched annually. Notably, several of these startups have been founded by alumni of University of Toronto, University of Waterloo and The University of British Columbia.
Here is the list of top HealthTech SaaS startups in 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?
Cloud-based administrative task management tool for providers. The EHR software is available for senior and assisted living care, continuing care retirement communities, and skilled nursing facilities to optimize their clinical and administrative workflow solutions. Also, solutions are offered for care delivery management, quality & compliance management, financial management, marketing solutions, health data exchange, and more.
Key facts about PointClickCare
- Founded Year: 2000
- Location: Mississauga (Canada)
- Stage: Late Stage
- Total Funding till date: $283M
- Investors: Dragoneer Investment Group, Hellman & Friedman and 3 Others
- Latest Funding Round: Unattributed, Jan 06, 2021, $*****
- Tracxn Score: 73/100 What is this?
- Competitors Rank: 1 of 6 Competitors
Developer of business management software for fitness and wellness industries. The software provides tools for appointment scheduling, point of sale, and marketing. It offers features such as customer review management, rewards programs, and client mobile application experiences. The software aims to help businesses manage clients and grow their operations.
Key facts about WellnessLiving
- Founded Year: 2012
- Location: Toronto (Canada)
- Stage: Late Stage
- Total Funding till date: $46M
- Investors: McCarthy Capital, MaRS Discovery District and 4 Others
- Latest Funding Round: PE, Aug 16, 2022, $*****
- Tracxn Score: 69/100 What is this?
- Competitors Rank: 1 of 1,065 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, Generation Investment Management and 15 Others
- Latest Funding Round: Series D, May 25, 2023, $*****
- Tracxn Score: 68/100 What is this?
- Competitors Rank: 1 of 7 Competitors
5. League
League provides a SaaS-based digital platform for employee health benefits. The platform gives employers tools to easily manage their benefits program and deliver healthcare services for employees. The web-based app gives the ability to create personal health spending accounts and tracks employee utilization. It also gives customized offerings for employees, delivered on-site by the best health professionals in the business.
Key facts about League
- Founded Year: 2014
- Location: Toronto (Canada)
- Stage: Series C
- Total Funding till date: $242M
- Investors: TDM Growth Partners, OMERS and 18 Others
- Latest Funding Round: Series C, Feb 28, 2025, $*****
- Tracxn Score: 68/100 What is this?
- Competitors Rank: 13 of 465 Competitors
Companies founded year-on-year in the HealthTech SaaS sector in Canada
27 new startups have been founded so far in 2026 in the HealthTech SaaS sector in Canada. 66 HealthTech SaaS 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 | 27 |
2025 | 29 |
2024 | 33 |
2023 | 59 |
2022 | 42 |
2021 | 36 |
2020 | 66 |
2019 | 50 |
2018 | 25 |
2017 | 31 |
Stage-wise distribution of HealthTech SaaS sector companies in Canada
Out of the total 899 HealthTech SaaS companies in Canada, 205 have secured funding. Among them, 110 have reached Series A or higher, and 98 to Series B or beyond.
Founded - 899
Funded - 205
Series A+ - 110
Series B+ - 98
Series C+ - 89
Company Stage | No. of companies |
|---|---|
Founded | 899 |
Funded | 205 |
Series A+ | 110 |
Series B+ | 98 |
Series C+ | 89 |
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Funding Trends in the HealthTech SaaS sector in Canada
Total funding year-on-year in the HealthTech SaaS sector in Canada
The HealthTech SaaS sector in Canada saw a total funding of more than $2.96B in the last 10 years. The most amount of funding was in 2021 at more than $834M. There has been a total funding of $236M in 2026 till date.
- Total Funding
Year | Total Funding |
|---|---|
2026 | $236M |
2025 | $37.3M |
2024 | $447M |
2023 | $153M |
2022 | $333M |
2021 | $834M |
2020 | $186M |
2019 | $274M |
2018 | $311M |
2017 | $146M |
Recent Funding Rounds in HealthTech SaaS in Canada
In the year 2026, till September 2026, HealthTech SaaS companies in Canada have raised $176M in equity funding across 12 rounds.
In the same period last year (i.e. till July 2025), HealthTech SaaS companies in Canada had raised $20M across 10 rounds.
So, 2026 has seen a 784.07% rise in funding in HealthTech SaaS companies in Canada as compared to 2025.
Here are some recent, important funding rounds in HealthTech SaaS companies in Canada:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Series A | 5850 | Sep 28, 2026 | ||
Seed | 7456 | Jul 17, 2026 | ||
Series A | 6243 | Jun 04, 2026 | ||
Seed | 5851 | May 11, 2026 | ||
Seed | 9083 | Apr 20, 2026 |
Top Investors in HealthTech SaaS in Canada
Plug and Play Tech Center is the top investor in HealthTech SaaS companies in Canada based on number of companies invested.
Here are some top investors in HealthTech SaaS companies in Canada:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Sunnyvale (United States) | ||
London (United Kingdom) | ||
Toronto (Canada) | ||
Montreal (Canada) | ||
Montreal (Canada) |
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M&A activity in HealthTech SaaS sector in Canada
In the year 2026, till June 2026, 2 acquisitions happened in HealthTech SaaS sector in Canada. Last year, in 2025, a total of 2 acquisitions happened in HealthTech SaaS sector in Canada.
Here are some recent, important acquisitions in HealthTech SaaS sector in Canada:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Jun 29, 2026 | ||
Business Acquisition | Mar 17, 2026 | ||
Business Acquisition | Nov 10, 2025 | ||
Business Acquisition | Nov 03, 2025 | ||
Business Acquisition | Oct 30, 2024 |
Acquisition trends in HealthTech SaaS sector in Canada
Here are the acquisition trends in HealthTech SaaS sector in Canada:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | 2 |
2025 | 2 |
2024 | 7 |
2023 | 2 |
2022 | 9 |
2021 | 5 |
2020 | 4 |
2019 | 3 |
2018 | 8 |
2017 | 5 |
IPOs in HealthTech SaaS in Canada
In the year 2023, till October 2023, 1 IPO happened in HealthTech SaaS sector in Canada.
Here are some recent, important IPOs in HealthTech SaaS sector in Canada:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Oct 06, 2023 | Frankfurt Stock Exchange (FRA) | |
Dec 21, 2021 | OTC Markets (OTCMKTS) | |
Sep 23, 2021 | Toronto Stock Exchange (TSX) | |
Aug 13, 2021 | OTC Markets (OTCMKTS) | |
Apr 19, 2021 | Canadian Securities Exchange (CSE) |
Colleges which produce the most HealthTech SaaS companies in Canada
Companies founded by alumni from top colleges in the HealthTech SaaS in Canada
Most number of HealthTech SaaS startups in Canada have been founded by alumni from University of Toronto, University of Waterloo and The University of British Columbia.
College | No. of companies |
|---|---|
University of Toronto | 29 |
University of Waterloo | 11 |
The University of British Columbia | 5 |
McGill University | 4 |
York University | 4 |
Ivey School of Business | 3 |
Massachusetts Institute of Technology | 3 |
McMaster University | 3 |
Stanford University | 3 |
University of Oxford | 3 |
Total funding in HealthTech SaaS companies founded by alumni from top colleges in Canada
In the last 10 years, University of Toronto graduates' HealthTech SaaS companies in Canada have raised the most funding among top colleges. McMaster University alumni are second, and York University alumni are third.
College | Total Funding |
|---|---|
University of Toronto | $1.29B |
McMaster University | $158M |
York University | $66M |
Ivey School of Business | $57.8M |
Stanford University | $57.4M |
McGill University | $44.4M |
The University of British Columbia | $16.9M |
University of Waterloo | $14M |
University of Cambridge | $9.4M |
University of Oxford | $8.12M |
Top News in HealthTech SaaS in Canada
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AlayaCare and Eitan Medical partner to eliminate manual transcription for home infusion nursesGlobeNewswire•Apr 20, 2026•Eitan Medical, AlayaCare
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ACD/Labs and Covestro collaborate to bring AI solvent recommendation capabilities to Percepta platformEuropean Pharmaceutical Manufacturer•Oct 14, 2025•Covestro, Advanced Chemistry Development Labs
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Perinatal tech firm CCSI joins MEDITECH Alliance ProgramHospital Management•Aug 25, 2025•OBIX, MEDITECH, Cliniconex
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Healwell sees stronger AI business performance, acquires full stake in Pentavere
Seeking Alpha•Jul 16, 2025•HEALWELL AI
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HEALWELL Announces Update: AI Performance, Pentavere Acquisition, and Enhanced IntegrationFinanzNachrichten•Jul 16, 2025•HEALWELL AI, Pentavere
