Companies founded by Waterloo Engineering alumni took the top two spots in an annual list of the fastest-growing technology companies in Canada.
Heading the Technology Fast 50 list, compiled by professional services firm Deloitte, is Kitchener-based Intellijoint Surgical, which develops smart tools to enhance the accuracy of orthopedic surgery, increase hospital efficiencies and improve the lives of patients.
Founded by alumni Armen Bakirtzian (BASc ’08, mechatronics), Andre Hladio (BASc ’08, mechatronics, MASc ’11, electrical and computer) and Richard Fanson (BASc ’08, mechatronics), Intellijoint experienced over 19,000-per-cent revenue growth between 2016 and 2019.
Armen Bakirtzian is co-founder and CEO of Intellijoint Surgical.
In second place on the list is ApplyBoard, which helps international students apply to institutions of higher education around the world.
Founded by Martin Basiri (MASc ’13, mechanical), the Kitchener company’s revenue grew by more than 12,000 per cent over the same three-year period.
“This year’s Fast 50 winners should be especially proud of this designation, as their role in the fabric of Canadian business - particularly during these turbulent times - is crucial,” Erica Pretorius, a partner at Deloitte Canada, said in a media release announcing the list today.
Several other companies featuring Waterloo Engineering founders and executives also made the 2020 list, and related Enterprise Fast 15 and Companies-to-Watch lists.
Included is Avidbots, which makes industrial robots to clean floors, at number eight on the main list. It was founded by alumni Faizan Sheikh (BASc ’11, mechatronics) and Pablo Molina (BASc ’11, mechatronics).
Cracking the top 15 on the Fast 50 list were Auvik Networks of Waterloo at 12 and BookJane of Toronto at 15.
Auvik, which provides cloud-based network management, was co-founded by Marc Morin (BASc ’87, electrical and computer). BookJane, an online platform to help health care facilities efficiently staff shifts, includes executive Ralph Rupsingh (BASc ’05, computer).