Waterloo alumni shine on the Deloitte 2021 Technology Fast 50 list

Compiled annually by Deloitte, the Technology Fast 50 features eight companies founded by University of Waterloo alumni, and 10 additional companies with a Waterloo connection. Recognizing the world-class achievements of Canadian technology companies, the Technology Fast 50 program winners showcase innovation, leadership and rapid revenue growth between 2017 and 2020.

Snapcommerce and Applyboard rank in top 10

Snapcommerce, co-founded by Henry Shi (BCS ’14) and Hussein Fazal (BMath ’05), earned the number one spot with their message-driven commerce platform that uses AI to connect price-conscious consumers to the best promotions on mobile. They topped the charts of the Fast 50 with an impressive three-year growth of 33,614 per cent.

Henry Shi (BCS ’14) and Hussein Fazal (BMath ’05)
Alumni, Faculty of Mathematics
>Co-founders, Snapcommerce

“Our rapid growth can be attributed to a focus on our customers. Really understanding who they are and what they are looking for allows us to deliver a great product,” says Fazal, CEO of Snapcommerce. He adds that the Waterloo co-op program has also been a key to their success. “Henry and I want to recognize the University of Waterloo for giving us the strong foundation and experience through the co-op program that has helped us to succeed in our entrepreneurial journeys. We are also one of the largest employers of Waterloo interns who have contributed significantly to our success.”

And for the third straight year, Applyboard, co-founded by Martin Basiri (MASc ’13), has landed in the top 10 with revenue growth of 5,089 per cent. In the number seven spot for 2021, ApplyBoard was ranked first in 2019 and second last year. The Kitchener-based company empowers international students to apply to universities, colleges and high schools in Canada, Australia, the United States and the United Kingdom.

Martin Basiri (MASc ’13)
Alumnus, Faculty of Engineering
> CEO and co-founder, Applyboard

"The pandemic has been difficult for international studies and decreased the market by as much as 70 per cent, but despite these challenges we still managed to demonstrate strong growth. Our team remains committed to breaking down barriers and improving access to the best education possible for international students across the world," says Basiri, who is also ApplyBoard’s CEO. "We're honoured to be named in Deloitte Fast 50 and Fast 500 for the third consecutive year and this type of recognition is only possible thanks to our incredible ApplyBoard team worldwide."