No Match Found
"Canadian venture-backed companies saw another robust year of record funding, driven by a strong second-half to close off the year. While total deal count did decline, median-deal size has risen by 13%, indicating a healthy and scaling ecosystem. Canada has stood out amongst its global peers as investors continue to recognize the value of Canadian innovation."
"Canadian venture capital investment increased for the third year in a row as Toronto and Vancouver hit record funding highs in 2019," stated Anand Sanwal, co-founder and CEO of CB Insights. "Seed- and early-stage rounds made up the majority of deals and investments in Canadian AI, fintech, and cybersecurity companies continue to grow. 2020 is poised to be another big year for Canada's tech ecosystem and as the early stage bets mature, we expect many investors in the US will start looking north and paying more attention to the Canadian tech ecosystem."
As the top Canadian market, Toronto funding surpassed $1.3B for the second year in a row. The deal count of 175 was only 5 below the number of deals in 2018.
Vancouver hit a six-year high for funding as Vancouver-based startups raised $924M in 2019, more than double investment levels seen in 2018. While deal activity fell to 72 deals compared to 109 in 2018, deal activity remains above pre-2018 levels as larger deal sizes drive gains in funding.
Montreal funding and deals remain at healthy levels -- after a strong H2’19, 2019 total funding to Montréal-based companies was $931M, only $11M below 2018 levels. 2019 investment was still above annual funding levels seen before 2018, an exceptionally strong year.
Waterloo and Calgary rounded out the top markets as Waterloo-based companies raised $139M across 25 deals and Calgary-based companies raised $132M across 22 deals
The MoneyTree report can be found here.
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