Dartmouth-based Site 20/20 has landed on Deloitte’s prestigious Technology Fast 50 list of Canada’s fastest-growing startups for the third straight year after accelerating its revenue growth.
The global accounting firm announced its 2025 list of fast-growing Canadian companies (based on revenue records over a four-year period) on Tuesday, and it included two Atlantic Canadian companies making the roster for the first time: St. John’s-based CoLab Software and Charlottetown-based SpryPoint.
Site 20/20 placed sixth on the list of meteoric Canadian startups in 2025, with revenue growth of 6,721 percent in the past four years. CoLab claimed the 19th position with revenue growth of 1,730 percent, while SpryPoint recorded four-year revenue growth of 616 percent to capture 40th place.
What’s most impressive about Site 20/20’s performance is it produced its best growth results ever even though it’s operating off a much higher base. In 2024, the company was 31st on the list with revenue growth of 686 percent. In 2023, it captured sixth place on the back of 2,392 percent revenue growth over four years.
The company received a shot in the arm in August 2024 when it closed an investment deal with New Mountain Capital and Energy Impact Partners, both based in New York. The amount of funding was never revealed. A statement on the site of New Mountain Capital last year said Site 20/20 since its inception has had revenues of more than $250 million.
Led by CEO Mitch Hollohan, Site 20/20’s flagship product is the Guardian SmartFlagger, a piece of equipment designed to replace the human “flaggers” who direct traffic at construction sites. It includes a portable stoplight and a barrier that can be lowered to block traffic flow.
Hollohan founded the business in 2015 and launched the Guardian in 2017, under a revenue model whereby Site 20/20 leased the equipment to customers on an hourly basis. A single worker can control up to four of the machines using an iPad and video-monitoring software.
Founded by CEO Adam Keating and CTO Jeremy Andrew in 2017, CoLab makes collaboration software for 3D modelling and has recently offered customers new, AI-based tools. A graduate of the Y Combinator accelerator in Silicon Valley, CoLab closed a US$21 million, or C$28.6 million, Series B funding round led by New York’s Insight Partners in May 2024. That followed up on its previous US$17 million Series A a few years earlier.
SpryPoint was founded in 2011 and sells cloud-based enterprise software for utility companies. The company’s website says it focuses on “delivering innovative and efficient technologies to enable exceptional customer service and to optimize operations.”
In March of this year, SpryPoint CEO Kyle Strang announced the company had received a growth-focused credit facility from CIBC Innovation Banking.
Along with its Fast 50, Deloitte each year names 15 startups to its Companies-to-Watch list. No Atlantic Canadian companies made this list in 2025.
The participants in the Technology Fast 50 are required to give Deloitte access to audited financial statements and must already have revenue at the beginning of the four years. The 2025 winner was Neo Financial of Calgary, which also won in 2024. Its four-year revenue growth in the 2025 competition came in at 1,279 percent.
