Fourteen percent of the 50 fastest-growing tech companies in Canada are found in Waterloo Region, according to the global accounting firm Deloitte.
Deloitte this week released its 2016 Tech Fast 50, which ranks the fastest-growing tech companies in the country over the past five years. Seven companies based in the Kitchener-Waterloo area made the list.
Leading the Waterloo Region continent was Kitchener-based Sortable, whose software uses machine learning to improve the performance of advertising. Its revenues have grown 1,705 percent over five years – good enough to secure it ninth spot.
The other companies from the region, and their five-year revenue growth, are:
10 Axonify, Waterloo -- 1,520 percent;
17 Clearpath, Kitchener -- 662 percent;
19 Magnet Forensics Inc., Waterloo -- 587 percent;
24 Aeryon Labs, Waterloo -- 494 percent;
35 eSentire, Cambridge -- 361 percent;
37 Dejero Labs, Waterloo -- 332 percent.
In the 2015 list, there were five companies from Kitchener-Waterloo, including Magnet, Aeryon and eSentire.
The top-performing company in the latest list was Urthecast of Vancouver, which provides advanced geospacial analysis. Its five-year growth rates was 72,938 percent.