Professional networking platform LinkedIn has revealed its annual list of top Canadian startups for 2024. Based on key data from the platform, the list highlights the startups that have shown exceptional growth and attracted significant interest from jobseekers and talent from prestigious companies. This year, once again, Toronto-based companies Cohere and Float secured the top two spots on the list.
Criteria for Selection
LinkedIn’s list is generated by analyzing four main criteria: employee growth, jobseeker interest, engagement between the company and its employees, and the ability to attract talent from LinkedIn’s 2024 Best Workplaces list. To qualify for the list, startups must be independent, privately held companies headquartered in Canada with a minimum of 30 full-time employees and no more than five years of operation.
Top Startups: Cohere and Float
Cohere, founded in 2019, retains the top position in LinkedIn’s list. The Toronto-based company is known for its innovative AI-powered platform that offers services like document summarization, text generation, and chatbot deployment for businesses.
Float, established in 2020 and also based in Toronto, comes in second place. This FinTech startup provides a spend management platform that helps small and medium-sized businesses (SMBs) in Canada streamline spending and control budgets efficiently.
The 2024 list showcases a variety of startups, most of which provide digital platforms for different industries. These companies offer solutions ranging from automated workflow systems for pharmacists to AI-powered platforms that assist insurance brokers with repetitive tasks. Other businesses on the list include a talent agency focused on supporting Black creators and a boutique wellness club.
Startup Distribution by Location
Of the 15 startups featured, 11 are headquartered in Toronto, demonstrating the city’s vibrant startup ecosystem. Two companies hail from Vancouver, while Kitchener and Montréal each contribute one startup to the list. This distribution highlights the growing presence of startup activity across Canada’s major cities.
Full List of Top Startups
Below is the complete list of LinkedIn’s top Canadian startups for 2024:
- Cohere (Founded in 2019) – AI-powered platform for enterprises, offering services like document summarization and chatbot deployment (Toronto).
- Float (Founded in 2020) – FinTech platform for spend management, helping Canadian SMBs control budgets (Toronto).
- PostGrid (Founded in 2020) – Software platform that automates and manages mail operations for businesses (Toronto).
- Hiive (Founded in 2021) – VC marketplace for trading private, venture capital stocks (Toronto).
- Pine (Founded in 2021) – Platform guiding Canadian homebuyers through the mortgage process (Toronto).
- SALT XC (Founded in 2019) – Digital marketing services agency with data-driven strategies (Toronto).
- MedMe Health (Founded in 2019) – Software platform helping pharmacists streamline manual workflows (Toronto).
- Quandri (Founded in 2020) – AI-powered platform for insurance brokers to handle repetitive tasks (Vancouver).
- Sweat and Tonic (Founded in 2019) – Wellness club offering fitness classes and curated experiences (Toronto).
- Carbon6 (Founded in 2021) – E-commerce software for Amazon sellers (Toronto).
- Felix (Founded in 2019) – Healthcare platform providing access to treatments for common health concerns (Toronto).
- Kensington Grey Agency (Founded in 2019) – Talent management agency supporting Black creators (Toronto).
- ZumRails (Founded in 2019) – Payment solution platform for businesses to manage digital payments and subscriptions (Montréal).
- OwnersBox (Founded in 2019) – Sports-tech company offering fantasy sports contests and leagues (Kitchener).
- pH7 Technologies (Founded in 2020) – Cleantech company reducing the environmental impact of traditional mining (Vancouver).
Toronto Leads the Startup Scene
Toronto continues to dominate the Canadian startup landscape, with the majority of the companies on LinkedIn’s 2024 list based in the city. This reflects the city’s strength in sectors such as AI, FinTech, healthcare, and digital marketing. Startups like Cohere, Float, and Hiive are proving to be key players, not only in Canada but on the global stage as well.
The LinkedIn 2024 Canadian Startups list celebrates innovative businesses that are pushing the boundaries in their respective industries. With Cohere and Float maintaining their leadership positions, the future looks promising for the Canadian startup ecosystem. These companies are not only attracting top talent but also providing digital solutions that are transforming how businesses operate in various sectors.
