October 2026
Largest Cybersecurity Public Companies in Canada
Benchmark revenue and EBITDA valuation multiples for public comps like
BlackBerry, BTQ Technologies, Plurilock Security, Secure Blockchain and Anonymous Intelligence.
 | BlackBerry, once known for being the world’s largest smartphone manufacturer, is now exclusively a software provider with a stated goal of end-to-end secure communications for enterprises. The firm provides endpoint management and other secure communications software to enterprises, specializing in regulated industries like government and financial institutions. BlackBerry also has a sizable embedded software business primarily serving the automotive market, with some exposure to the industrial market. | $9 | +92% | $5.5B | $5.3B | 9.7x | 64.6x | ||
| BTQ Technologies Corp is engaged in the development of computer-based technology related to post-quantum cryptography, particularly as it applies to blockchain and related technologies, and their protection from the emerging security risk of quantum computing. The company derives revenue from Software licensing. Geographically, the company has a presence in Canada, Taiwan, Australia, and the United States. | $2 | -70% | $331M | $325M | 1445.6x | (18.3x) | ||
| Plurilock Security is a cybersecurity and IT services company headquartered in Victoria, British Columbia, and listed on the TSX Venture Exchange. It was founded in 2016 as a spin-out of the University of Victoria, built on behavioural biometrics research by Issa Traore, and brought its first products to market in 2017. Its service lines cover adversary simulation and penetration testing, data protection and identity and access management, cloud security, governance, risk and compliance, AI security and post-quantum cryptography readiness. It also sells its own identity products. Customers are federal governments in Canada and the United States and large enterprises. Revenue comes mainly from professional services and resale of third-party security technology, with product licences as a smaller part. | $0 | -21% | $15M | $15M | 0.3x | (3.3x) | ||
| Identillect Technologies Corp is a software development company that designs and develops an email encryption software solution to protect critical information. It offers the Delivery trust, which is an email security solution designed for small and medium-sized businesses. The company serves accounting, education professionals, financial, legal, medical, real estate, and resource industries. | $0 | -- | $3M | $3M | 6.0x | (10.5x) | ||
| Anonymous Intelligence Co is a computational intelligence, decentralized network, and data technology company, focused on leveraging its proprietary suite of Artificial Intelligence (AI) and privacy enabled products to increase confidence in technology for consumers and businesses. Its product and service offerings include the Limitless VPN, Turminal.ai, Anon SDK, and Haller.ai. It has one operating segment, being the development and marketing of its technology platforms, and its operations and long-term assets are located in North America. | $0 | -68% | $3M | $2M | - | (2.0x) | ||
| Median | $0 | -44% | $15M | $15M | 7.8x | (3.3x) |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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