May 2026
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Largest Horizontal SaaS Public Companies in Canada
Benchmark revenue and EBITDA valuation multiples for public comps like
Shopify, Celestica, CGI, Descartes Systems Group and Open Text.
 | Shopify offers an e-commerce platform primarily to small and medium-size businesses. The firm has two segments. The subscription solutions segment allows Shopify merchants to conduct e-commerce on a variety of platforms, including the company’s website, physical stores, pop-up stores, kiosks, social networks (Facebook), and Amazon. The merchant solutions segment offers add-on products for the platform that facilitate e-commerce and include Shopify Payments, Shopify Shipping, and Shopify Capital. | $103 | -4% | $134B | $128B | 11.1x | 64.0x | ||
| Celestica Inc offers supply chain solutions. The company has two operating and reportable segments: Advanced Technology Solutions (ATS) and Connectivity & Cloud Solutions (CCS). The ATS segment consists of the ATS end market and is comprised of the Aerospace and Defense, Industrial, health tech, and Capital Equipment businesses. Its Capital Equipment business is comprised of the semiconductor, display, and robotics equipment businesses, and the CCS segment consists of Communications and Enterprise end markets, The Enterprise end market is comprised of its servers and storage businesses. The company generates a majority of its revenue from the Connectivity & Cloud Solutions segment. | $369 | +221% | $42B | $43B | 3.5x | 35.4x | ||
| CGI is a Canada-based IT-services provider with an embedded position in North America and Europe. The company is one of the major IT suppliers to different levels of government around the world. It offers a broad portfolio of services such as consulting, systems integration, application maintenance, and business process services to governments and the private sector. With offices in over 40 countries, CGI follows a balanced global delivery model with most consultants in client proximity. | $67 | -38% | $14B | $17B | 1.4x | 7.3x | ||
| Descartes Systems Group provides a software solution that allows users in the shipping industry to communicate with one another. Its core product is the Global Logistics Network, which is best understood as transaction-driven. Descartes charges clients to send/receive messages, data, and documents on the GLN. Customers typically contract for a monthly minimum over a multiyear period. The GLN platform allows Descartes to upsell additional software modules as well, typically provided via a software-as-a-service model. | $72 | -38% | $6B | $6B | 8.0x | 17.6x | ||
| Open Text Corp is engaged in the design, development, marketing, and sale of Information Management software and solutions. Its software allows clients to archive, aggregate, retrieve, and search unstructured information (such as documents, e-mail, and presentations). Its platform and services provide secure and scalable solutions for enterprises, SMBs, governments, and consumers around the world. The company's solutions are marketed and delivered on the OpenText Cloud Platform, which is a comprehensive Information Management platform consisting of six business clouds; Content Cloud, Cybersecurity Cloud, Application Automation Cloud, Business Network Cloud, IT Operations Management Cloud, and Analytics Cloud. Geographically, it derives maximum revenue from the United States. | $24 | -16% | $6B | $11B | 2.1x | 6.1x | ||
| 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. | $8 | +101% | $5B | $4B | 8.2x | 42.0x | ||
| Lumine Group Inc acquires, strengthens, and grows vertical market software businesses in the Communications and Media industry. The company's software solutions are designed to enable customers to boost productivity and operate more cost effectively, innovate more rapidly to address rapidly changing market needs and opportunities, grow top-line sales, improve customer service, and reduce customer churn. | $15 | -59% | $4B | $4B | 5.1x | 13.7x | ||
| Kinaxis Inc is a provider of cloud-based subscription software that enables its customers to improve and accelerate analysis and decision-making across their supply chain operations. The company has operations in the United States, Japan, Hong Kong, The Netherlands, South Korea, the United Kingdom, Romania, Mexico, Singapore, France, Ireland, Germany, India, and Canada. , and a majority of the revenue comes from the United States. | $106 | -26% | $3B | $3B | 4.8x | 18.9x | ||
| Enghouse Systems Ltd is a Canada-based provider of software and services to a variety of end markets. The firm's operations are organized in two segments, namely, the Interactive Management Group (IMG) and the Asset Management Group (AMG). It earns the majority of its revenue from Interactive Management Group. IMG specializes in contact center and video software and services designed to enhance customer service by increasing efficiency and managing customer communications across multiple types of interactions, including voice, email, social channels, web chats, text, and videos. The firm has operations in Canada, the United States, the United Kingdom, Europe, excluding Scandinavia, Germany, Asia-Pacific, and other regions, with maximum revenue from the USA. | $12 | -35% | $680M | $499M | 1.4x | 5.3x | ||
| 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. Its products include PQScale, Keelung, Kenting, and Qbyte. PQScale is a novel scaling technique for post-quantum cryptographic primitives. Keelung is a zero-knowledge toolkit for fast, private, and secure applications. Kenting provides acceleration for NIST-compliant post-quantum cryptography, post-quantum zk-SNARKs, and eco-friendly mining hardware, and Qbyte is a quantum risk calculator. Geographically, the company derives maximum revenue from Canada, and also has a presence in Taiwan, and Australia. | $3 | +22% | $481M | $473M | 2065.0x | (26.5x) | ||
| Tecsys Inc is engaged in the development and sale of enterprise supply chain management software for distribution, warehousing, transportation logistics, point-of-use, and order management. It also provides related consulting, education, and support services. The company serves healthcare systems, services parts, third-party logistics, retail, and general wholesale distribution industries. Geographically, it derives a majority of its revenue from the United States and also has a presence in Canada, Europe, and other regions. | $26 | -16% | $386M | $363M | 2.8x | 37.1x | ||
| Coveo Solutions Inc is an AI-powered platform. It provides applied AI solutions enabling enterprises to deliver relevant digital experiences at scale. The company's solutions provide value to its customers by helping drive revenue growth, reduce customer support costs, increase customer satisfaction and website engagement, and improve employee proficiency and satisfaction. Geographically, the company generates maximum revenue from the United Kingdom and the rest from the United States, Canada, and other regions. | $3 | -35% | $312M | $228M | 1.7x | 227.7x | ||
| A2Z Cust2Mate Solutions Corp is engaged in creating shopping carts. With the help of a user-friendly smart algorithm, touch screen, and other technologies, the company streamlines the retail shopping experience by scanning purchased products and enabling in-cart payment so that customers can simply pick & go, and bypass long cashier checkout lines. | $6 | -33% | $282M | $227M | 28.7x | (11.5x) | ||
| Vecima Networks Inc is a Canadian company that develops integrated hardware and software solutions for broadband access, content delivery, and telematics. It operates through three business segments: Video and Broadband Solutions, Content Delivery and Storage, and Telematics. The majority revenue generation segment, Video and Broadband Solutions segment, provides platforms that support broadband and video services over cable and fiber networks. The Content Delivery and Storage segment offers software and solutions for storing, transforming, and delivering video content. The Telematics segment provides fleet management and asset tracking solutions for mobile and fixed assets. The company has operations with offices and manufacturing facilities in several countries. | $10 | +32% | $238M | $282M | 1.4x | 13.0x | ||
| Tucows Inc is a corporate parent, allocating capital and providing efficient shared services to its three businesses. The Company offers Mobile Service Enabler (MSE) solutions, as well as professional services to other retail mobile providers. The Company is also a distributor of Internet services, including domain name registration, digital certificates, and email. It provides these services through an Internet-based distribution network of Internet Service Providers, web hosting companies, and other providers of Internet services to end-users. It operates in three segments: Ting, Wavelo, and Tucows Domains. It generates the majority of its revenue from Tucows Domains. Geographically company operates in USA, Canada and Europe. | $15 | -22% | $168M | $677M | 1.7x | 18.7x | ||
| Sangoma Technologies Corp is a provider of hardware and software components that enable or enhance Internet Protocol Communications Systems for both telecom and datacom applications. It is engaged in the development, manufacturing, distribution, and support of voice and data connectivity components for software-based communication applications. Its product includes data and telecom boards for media and signal processing, as well as gateway appliances and software. The Company sells into two geographic centers: USA and Other countries. Key revenue is generated from USA. | $4 | -35% | $121M | $145M | 0.6x | 3.4x | ||
| Haivision Systems Inc is a provider of infrastructure solutions for the video streaming market, servicing enterprises and governments globally. The organizations use company solutions to communicate, collaborate and educate customers and stakeholders. It delivers high quality, low latency, secure and reliable video through the entire IP video lifecycle, using a broad range of software, hardware, and services. Its geographical segments are Canada, International, and the United States, of which the majority of its revenue comes from the United States. | $4 | +32% | $120M | $116M | 1.2x | 12.6x | ||
| NameSilo Technologies Corp is a provider of domain name registration services and marketplace services for the buying and selling of domain names. The company also provides web services like hosting, SSL, email, and premium DNS. It has one reportable segment, being domain registration and related services. The company's revenues are derived from domain name registration fees, marketplace transactions and the sale of domain names. | $1 | +61% | $103M | $100M | 2.1x | 24.6x | ||
| Railtown AI Technologies Inc is engaged in the business of developing a software-as-a-service artificial intelligence solution that helps software development teams detect, analyze, and fix errors quickly in their development projects. Its Platform allows for real-time exception monitoring and alerting which permits developers, team managers, and executives to quickly locate, understand. and correct errors in their software development projects and their root causes, thereby preventing system and application downtimes. | $0 | -16% | $64M | $64M | — | (16.6x) | ||
| EQ Inc is a provider of digital marketing services. The company operates in a single segment, which is to provide real-time technology and analytics to improve performance for web, mobile, social, and video advertising initiatives, and focuses on targeted advertising and incorporates advertising technologies, data analytics, and programmatic media buying capabilities into a single segment. The company generates the highest revenue from Advertising Services, followed by Data sales, which includes fixed CPM data and licenses. | $1 | -6% | $47M | $49M | 6.6x | (130.1x) | ||
| Zoomd Technologies Ltd has developed a proprietary patented technology that targets the needs of many segments of the digital marketing industry. It focuses on efficient user acquisition for companies and products aimed at mobile users. The Company leverages onsite search, providing increased monetization and engagement for publishers as well as more efficient management of digital advertising budgets for media agencies and advertisers, targeting usually mobile app user acquisition. | $0 | -60% | $37M | $16M | 0.3x | 1.0x | ||
| Mobio Technologies Inc is a portfolio of home service brands united by a dedication to quality, integrity, and exceptional customer experiences. The company is strategically investing in both the home services and technology sectors, aiming to provide homeowners with a comprehensive network of trusted providers for every aspect of their home care and improvement needs. The company had two types of segments: geographical Canada and the United States of America, and operational franchisor and corporate locations. The company's primary line of business is to sell franchise rights in Canada and the United States for the operation of businesses that provide residential and commercial moving services. | $0 | -- | $12M | $13M | 1.7x | (1.7x) | ||
| VERSES AI Inc is a cognitive computing company building next-generation intelligent software systems modeled after the wisdom and genius of Nature. Designed around first principles found in science, physics and biology, its flagship product, Genius, is a suite of tools for machine learning researchers and engineers to model complex dynamic systems and generate autonomous intelligent agents that continuously reason, plan, and learn. Imagine a Smarter World that elevates human potential through technology inspired by Nature. | $1 | -94% | $10M | $11M | — | — | ||
| Wishpond Technologies Ltd is a provider of marketing-focused online business solutions, providing digital marketing solutions. The company offers an all-in-one marketing suite that provides companies with marketing, promotion, lead generation, sales automation, ad management, referral marketing, and sales conversion capabilities from one integrated platform. The company employs a Software-as-a-Service (SaaS) business model where substantially all its revenue is subscription-based, recurring revenue. Geographically, the company generates the majority of its revenue from the United States, followed by Canada.. | $0 | -6% | $6M | $8M | 0.7x | (17.7x) | ||
| 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 | -- | $4M | $3M | — | (3.5x) | ||
| ImagineAR Inc provides a mobile platform for companies to develop & implement Mobile Augmented Reality experiences instantly with no programming or technology experience. Its platform enables users to point their mobile device at logos, signs, buildings, products, landmarks, and instantly engage with videos, information, advertisements, coupons, 3D holograms, and any other interactive content hosted in the cloud. Its products include ImagineAR Mobile App, ImagineAR Cloud, and ImagineAR SDK/API, among others. The Company operates in one reportable segment, comprised of data services, and revenue is earned from two regions: Canada and the United States. | VR & AR+1 | $0 | -- | $1M | $1M | 80.4x | (0.7x) | |
| Urbanimmersive Inc is a SaaS business management solution that provides mission-critical solutions to visual content providers serving the real estate residential, commercial, construction, and local business markets. The Urbanimmersive platform helps customers to increase operational productivity and delivering the full potential of visual content creations through website builder tool, AI-backed image indexing, robust file transfer systems, and interactive visual technology solutions. Its operating segment includes Software; Photography Equipment and Services. The company generates maximum revenue from the Services segment. | $0 | -- | $217K | $7M | — | — | ||
| Median | $4 | -16% | $238M | $228M | 2.1x | 7.3x |
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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