It’s that time when end-of-year lists are coming out in droves—but that doesn’t only mean things like the best inventions of 2017.
Red Herring crowned their top 100 global startups of the year and Canadian companies Beagle and NoviFlow made the list. Countries from all over the world were included, including Bahrain, Belgium and Kuwait, marking a truly global list of potential competitors for the two Canadian startups.
Kitchener’s Beagle is a company rooted in AI that provides workflow technology for regulatory and corporate compliance. Founded in 2013, the company picked up $300,000 in seed funding in 2015 and has since grown to over 20 employees. The company works with small quality data and can rapidly deploy projects with new clients due to their proprietary extensible platform. Beagle was included as part of the 2015 CIX Top 20.
Working with companies like Volkswagen and Dentons, Beagle can analyze contracts, licenses and law books to make things easier to understand for their clients. AI analyzes contracts and categorizes them into key areas, providing instant access to see what is actually important.
NoviFlow, founded in 2012 in Montreal, offers high-performance programmable networking products compatible with their own signature software. Clients can deliver high-value services fast while also running cybersecurity protocols, saving costs and increasing network reliability.
They typically work with data centres, cloud service providers, and developers. NoviFlow has secured $9 million in funding so far and was invited to be in the first-ever Lazaridis Scale-Up Program. That program helped propel NoviFlow to the position they are in now, with CEO Dominique Jodoin discussing growth and scaling earlier this year.
“In the year since we started the [Lazaridis] program, we’ve grown our revenues by 300 per cent – a good result, but one that presented its own set of challenges,” he said. “Now, I’m pretty confident we’ve put the elements in place to allow us to grow 10 times bigger.”
The Red Herring Global 100 has been a pretty tough list to crack, as only one other Canadian startup made the list over the past three years—Teema Solutions cracked the top 100 in 2014. In order to qualify for inclusion, companies must be privately owned and based in technology or life science.
Check the whole list here.