ApplyBoard remains near top of Fast 50 growth list

Thursday, November 18, 2021

Four companies founded by Waterloo Engineering graduates have made a 2021 list of the fastest-growing technology companies in Canada.

Compiled annually by professional services firm Deloitte, the Technology Fast 50 features ApplyBoard in the number seven slot with revenue growth of 5,089 per cent between 2017 and 2020.

Martin Basiri and Pearl Sullivan

Martin Basiri, left, poses with Pearl Sullivan, the former dean of Waterloo Engineering, during a 2019 awards dinner.

It is the third straight year the Kitchener-based company, founded by Martin Basiri (MASc ’13, mechanical engineering), has landed in the top 10. ApplyBoard was ranked first in 2019 and second last year.

Launched in 2015 to help international students apply to universities, colleges and high schools in Canada, the United States and the United Kingdom, the company achieved unicorn status last year with a valuation of $2 billion.

ApplyBoard also made the Deloitte 2021 Technology Fast 500 list for all of North America with a ranking at 41.

Just outside the top 10 on the Fast 50 list for Canada is Leap Tools at number 11 with growth of 2888 per cent. Co-founded by Pawel Rajszel (BSE '08, software engineering), the Toronto-based software company makes an AR visualization platform to help people buy online and in stores.

Holding down spot 33 on the Deloitte list is Poka, which offers an app for manufacturers to support on-the-floor training, knowledge building and communication, with 488-per-cent growth over four years. Based in Quebec City, the company was co-founded by Antoine Bisson (BSE ’13, software engineering).

Auvik Networks of Waterloo, which provides cloud-based network management, ranked 36 with growth of 448 per cent. It was co-founded by Marc Morin (BASc ’87, electrical and computer engineering).

A fifth company founded by engineering alumni made a related Deloitte list. Prodigy Education of Oakville, co-founded by Alexander Peters (BASc ’11, mechatronics engineering) and Rohan Mahimker (BASc ’11, mechatronics engineering), weighed in at number eight on the Enterprise Fast 15 list.

And two companies with Waterloo Engineering founders, Cinchy Inc. of Toronto and Clir Renewables of Vancouver, made the Companies to Watch list. Cinchy was co-founded by Karanjot Jaswal (BASc '10, computer engineering), while Clir was co-founded by Andrew Brunskill (BASc '08, mechanical engineering).

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