Tech companies launched by founders in Waterloo Region are well represented on a list of top growing Canadian companies published by the Globe and Mail’s Report on Business.

The Canadian Shield, which makes personal protective equipment and designs related manufacturing systems, was ranked No. 4 nationwide with three-year revenue growth of 10,139 per cent.

The company, led by CEO Jeremy Hedges, was spun out of InkSmith, a tiny edtech startup, in March of 2020 when the COVID-19 pandemic struck. It started by 3D-printing plastic face shields, then expanded at lightning speed to meet explosive demand for PPE.

“The number of Waterloo Region tech companies on this year’s ROB list is a testament to the drive, innovation and hard work of our founders,” said Chris Albinson, President and CEO of Communitech. “It also reflects the strength of the Waterloo Region ecosystem, which has steadily become one of the best places on the planet to build world-class tech companies.

Here are other tech companies on the ROB list that have operations in Waterloo Region or a connection to Communitech through membership and/or the organization's support programs:

  • Ada – No. 19 with three-year revenue growth of 2,572 per cent.
  • Blue J – No. 58 with three-year revenue growth of 1,022 per cent.
  • Ahava Digital Group – No. 83 with three-year revenue growth of 726 per cent.
  • FormHero (now Daylight Automation) – No. 108 with three-year revenue growth of 516 per cent.
  • Beanworks – No. 112 with three-year revenue growth of 502 per cent.  
  • Rapid Novor – No. 113 with three-year revenue growth of 497 per cent.
  • Thinkific – No. 115 with three-year revenue growth of 588 per cent.
  • Cinchy – No. 125 with three-year revenue growth of 419 per cent.
  • HiMama – No. 130 with three-year revenue growth of 382 per cent.
  • Lightspeed POS Inc. – No. 153 with three-year revenue growth of 188 per cent.
  • Tulip – No. 183 with three-year revenue growth of 229 per cent.
  • Encircle – No. 184 with three-year revenue growth of 226 per cent.
  • Smile.io – No. 203 with three-year revenue growth of 201 per cent.
  • Georgette Packaging – No. 217 with three-year revenue growth of 188 per cent.
  • Artemis Canada – No. 219 with three-year revenue growth of 187 per cent.
  • MappedIn – No. 243 with three-year revenue growth of 155 per cent.
  • Nix Sensor  – No. 263 with three-year revenue growth of 138 per cent.
  • Geotab – No. 288 with three-year revenue growth of 123 per cent.
  • Voltera – No. 305 with three-year revenue growth of 110 per cent.
  • Dispatch Integration – No. 314 with three-year revenue growth of 101 per cent.
  • Third Octet Inc. – No. 364 with three-year revenue growth of 85 per cent.
  • PointClickCare Technologies Inc. – No. 379 with three-year revenue growth of 76 per cent.
  • Scribendi – No. 410 with three-year revenue growth of 65 per cent.
  • Bridgit – No. 419 with three-year revenue growth of 62 per cent.
  • Voices – No. 445 with three-year revenue growth of 51 per cent.