Canada’s technology sector is in the midst of a boom period with high investor confidence leading to the rapid expansion and global success of Canadian tech companies.
In the past few months, three leading Canadian technology companies – Shopify, Stingray Digital, and Mogo Finance – went public on the Toronto Stock Exchange, with several more high-profile private tech companies lining up to follow suit. A few weeks prior to that, another publicly-listed tech company, DH Corporation raised almost $1 billion to finance a major international acquisition.
These recent success stories in the Canadian tech sector are part of a longer-term trend that has seen the resurgence of Canadian technology companies. Since 2013, the technology and innovation sector has been the fastest-growing sector on the Toronto Stock Exchange, where they are collectively valued at over $250 billion, which is more than the value of the mining sector. More technology and innovation companies have become publicly listed since the start of 2014, which is more than any other sector in Canada. These companies have raised nearly $12 billion in equity during the same period.
And what’s more, in the last year and a half, Canadian tech companies have recorded twice the growth rate of their US counterparts.
Tech companies in Canada are getting high levels of support overall, be it from mentors, incubators, accelerators, government organizations or venture capitalists. And while Canadian technology companies are getting good access to private funding at the startup stage, small and large tech companies are also seeing public investors rushing in to invest in the sector.
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