Eight local companies among Canada’s fastest growing

Some of the nation's fastest growing companies make their home in Waterloo Region.

In fact, eight local companies, made the first Canada's Top Growing Companies list put out by Report on Business (Globe and Mail) on Friday.

The 400 businesses operate in such sectors as fintech, e-commerce and manufacturing.

Report on Business says over the last three years, the companies averaged revenue growth of over 500 per cent.

“The 400 companies on the inaugural Report on Business ranking of Canada's Top Growing Companies ranking demonstrate ambition, innovation and tremendous business acumen,” Phillip Crawley, Publisher and CEO of The Globe and Mail said in a release. “Their contributions to the economy help to make Canada a better place, and warrant commendation.”

Waterloo's Auvik Networks Inc. was the only local company to crack the top 10. Auvik, which makes network monitoring and management software used by IT firms, was ranked fourth. The company has experienced three-year revenue growth of over 6,000 per cent.

“The Auvik team works hard to build, market, sell, and support an amazing network management system – so the customer response that's reflected in our growth numbers is incredibly gratifying,” said Auvik CEO Marc Morin. “It feels great to be one of Canada's fastest-growing companies.”

Here are the other companies from Waterloo Region that are among Canada's Top Growing Companies:

• 49. Kitchener's Bonfire – three-year revenue growth of over 1,100 per cent
• 60. Kitchener-based Georgette Packaging – revenue growth of over 900 per cent
• 79. Kitchener's Bridgit Inc. – revenue growth of over 600 per cent
• 83. Kitchener-based Smile.io – revenue growth of over 550 per cent
• 256. Waterloo's Magnet Forensics Inc. – revenue growth of over 125 per cent
• 341. Cambridge-based Keyspire – revenue growth of close to 70 per cent
• 389. Kitchener's Diva International Inc. – revenue growth of almost 50 per cent

Ottawa-based Shopify Inc., which has an office in Waterloo, was ranked at 98.

Fleet Optics Inc., of Mississauga took the top spot with three-year revenue growth of over 10,000 per cent.

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