The Narwhal List is a compilation of Canada’s fastest scaling private tech companies. We compile companies based on their financial velocity, or the amount of funding a firm has raised over the number of years it has been in existence. If a company wants to scale to world class it will need to acquire significant investment capital. The more it acquires, the more it can grow. And the faster it can acquire capital, the faster it can grow (you can read more on this in our report The Rich Get Richer). So financial velocity is a way to track private companies who are trying to scale to world class size.

We have recently updated the list with data up to July 9, 2018 and are excited to include three new companies to the list. You can view the full list here.

New additions to the Narwhal List:

 

RadiomicsAI has built a machine learning platform that has been trained on various diseases, ranging from bone to CNS to oncology. The company’s deep learning algorithms accurately detect and highlight abnormalities, reducing the chances of missing a diagnosis.

Based in Toronto and founded in 2017, the company recently raised a $15 million Series A from IQGEN Holdings.

Auvik Networks is a software company that helps managed service providers improve the efficiency and profitability of their managed services. Auvik’s network infrastructure RMM (remote monitoring and management) gives MSPs better visibility, documentation, and monitoring for their client networks, and automates many time-consuming network tasks.

Based in Kitchener, the company recently raised a $15.58 million Series C from Celtic House Venture Partners, OpenView Venture Partners, and Rho Canada, bringing their total capital raised to $39.4 million since being founded in 2011.

Canary Medical was created by a team of surgeons, medical device developers, and IoT experts with the vision that healthcare transformation requires better and cheaper healthcare data, better monitoring and better data will produce better outcomes at lower costs, and patients own their healthcare data and should be compensated for its use. Canary Medical’s patented implant and data management ecosystem technology provides the vehicle to implement its vision.

Based in Vancouver and founded in 2013, the company recently raised a $26 million Series A from GF Securities, Quark Venture, BioScience Managers, and Relentless Pursuit Partners.