After raising a combined US$122 million in 2025, St. John’s-based Spellbook and CoLab AI have been named to Deloitte’s prestigious 2026 Technology Fast 50 list of Canada’s fastest-growing startups.

The program recognizes Canada’s 50 fastest-growing technology companies based on the highest revenue-growth percentage over the past four years. Spellbook, whose AI infrastructure helps lawyers produce contracts, ranked No. 7, with 5,826 percent revenue growth from 2022 to 2025.

Founded by CEO Adam Keating and CTO Jeremy Andrew in 2017, CoLab makes collaboration software for 3D modelling and last year launched its first AI agent, which it calls AutoReview. Deloitte said CoLab placed 23rd with 1,075 percent revenue growth.

The Tech Fast 50 has become the gold standard for high-growth companies in Canada because it measures them based on actual data showing revenue growth over a number of years. CoLab previously appeared on the list in 2025, when it placed 19th. Spellbook showed up for the first time this year.

“Trillions of dollars in deals sit within contracts that still get read line by line,” said Spellbook Co-Founder and CEO Scott Stevenson in a statement. “We were first to put AI in lawyers’ hands, and now we’re powering contracts end to end so businesses can unlock revenue and move faster. More teams choose Spellbook than any other AI tool for contracts, and our revenue shows it.”

Spellbook and CoLab in 2025 led the venture capital funding for the region when CoLab closed a US$72 million Series C funding round led by Toronto-based Intrepid Growth Partners. Spellbook closed a US$50 million Series B round led by Khosla Ventures, one of the top venture capital firms in Silicon Valley.

The Spellbook statement said the company this year launched Autonomous Contract Management, an AI system that powers contracts from intake to repository, and Compare to Market, which shows lawyers how their terms stack up against real-time market data during negotiation. More than 10 million contracts have been reviewed on its platform, it said.

With headquarters in St. John’s and Toronto, Spellbook this year has doubled its Canadian headcount to 197 across Toronto, Calgary, St. John's and Vancouver. As well as being named to the Fast 50, Spellbook recently ranked No. 3 in Report on Business magazine’s Canada’s Top Growing Companies.

The top company listed on the Technology Fast 50 this year was Toronto-based Finni Health, whose platform is transforming access to autism care. Its revenues rose 46,574 percent during the four-year period.

"This year’s winners are moving from cautious ambition to bold execution,” said Fast 50 Co-Leader Amanda Perran. “Their focus is increasingly commercial: winning customers, funding growth, building talent and pursuing strategic opportunities. The next phase will depend on pairing that ambition with the capital, skills and AI-ready capabilities needed to turn rapid growth into lasting advantage."