The Best Startups in Toronto
With one of the biggest tech scenes in North America, Toronto is an excellent city for start-up companies to grow.
Over the last 15 years, Toronto has become one of the most prominent cities for businesses. Not only does Toronto have the largest population in Canada, but it also ranks fourth in being the largest population in North America. The city has solidified its business structure, as industries such as the technology, financial services and design have grown over the years. Toronto takes pride in diversity, with the city’s motto being ‘Diversity: Our strength.’ This speaks to how the start-up scene in Toronto consists of a variety of industries and how it is contributing to the growth of the city.
As the start-up potential continues to blossom in Toronto, we have decided to list some of the best active start-ups that are based in the city.
What are the most notable start-ups in Toronto?
Some of the most innovative and successful start-ups in Toronto are:
BookMyCity is an online booking and scheduling platform for service-oriented businesses. They provide an easy online booking service that encourages customers and site visitors to find service providers in their area. Once a suitable service provider is found, appointments can be booked instantly. If required, consumers can also browse the available appointments based on a service category, the location of the business, time, price and reviews.
For businesses, BookMyCity makes it easy to manage the schedules, availability and bookings that it has, online. Factors such as opening hours, service duration and staff availability can also be handled by the Customer Relationship Management (CRM) system. This prevents any unfilled time slot issues and unexpected cancellations, boosting business efficiency and revenue.
DomainAgents is a business that assists domain owners and buyers with domain negotiations and transfers. They have continuously developed and built their process to make it easy to conduct and have successful domain negotiations.
DomainAgents focuses on countering the most common causes that can disrupt a negotiation:
- Buyers not receiving acknowledgement of their offer
- Domain owners find it difficult to gauge the interest of an inquiry
- Lack of engagement from parties during the negotiation process
They focus on presenting offers, qualifying buyers and creating consistent engagement and have been successful in doing so, since 2012. This has allowed DomainAgents to build considerable partnerships with high-quality businesses across the domain-name industry.
Kira is a machine learning software that can identify, extract and analyze the text in contracts and documents. It does this by utilizing the following procedure:
- Import Documents
- Documents can be imported in any of the 60+ formats.
- Kira converts files into machine-readable form, it then uses machine learning models to identify specific clauses and concepts.
- Search & Review
- Documents can be edited with colleagues in real-time, making it easy for teams to collaborate and make document changes where it is required.
- The tools provided by Kira make it easy to analyze and spot trends and issues in multiple documents at a time.
- Export Reports
- After document inspection is completed, summary charts and summaries can be created for any relevant points of data. This makes it easy for results to be shared with colleagues and clients.
Kira also has over 1000 built-in models making it easy to provide insights from your projects. Some of these solutions include:
- Due diligence
- Converts from an initial data room download into a final report, making it a quick process for businesses and their clients.
- Lease abstraction
- Lenders and purchasers gain quick access to lease terms for a single building or an entire portfolio, making it easy to complete real estate based transactions.
- Kira makes it easy for organizations to create cost-effective and quick responses to document changes
- Deal points
- Kira makes it easy to keep track of market trends and deal terms quickly.
- Kira provides interested parties with access to loan terms for currency or older transactions, while also making it easy for lawyers to complete loan agreements quickly.
League places focus on creating a service that contributes to the future of healthcare. When founded in 2014, League had a vision of providing consumer-centric, personalized, preventative and active healthcare for clients. To do this, healthcare would be data-driven and could be accessed by an app, to make it easy for people to live healthier, happier lives.
League recognized that employer-sponsored healthcare acted as health insurance for over half of the population, however it was ineffective and complicated. To resolve this, the team at League created an open-architecture platform to connect the scrambled pieces of HR tech and to turn it into a single access point for employees to engage with their health and benefits. This platform is known as their Health Benefits Platform and it provides health solutions to engage employees and to make them better healthcare consumers. This increase in engagement can improve the decision-making, outcomes, productivity and healthcare savings for employees.
Wealthsimple is an electronically based financial advisor that relies on data science to provide a variety of investment options. Wealthsimple provides simple, convenient investing, without the high fees and account minimums that are typically associated with traditional investment management. They also invest your money into a globally diversified portfolio of low-cost index funds and use technology to get the best returns from your investments. They also provide options for automatic rebalancing, dividend reinvestment and tax loss harvesting. These services are found to be time-consuming and tedious for people to complete on their own or were only available to wealthier individuals.
Wealthsimple also provides consistent customer service from their expert financial advisors. Their advisors can help map out your financial milestones and answer questions regarding risks or the type of investment accounts that you have.
Finally, Wealthsimple provides a variety of features such as commission-free trading and automatic investing to save you time.
Local View provides the opportunity for businesses to showcase their products and services to customers that are searching for a product or service that you are offering. To do this, Local View allows businesses to display their inventory on Surfaces Across Google, directly link real-time inventory to your listing and allow your listing to appear at the top of local search results.
The main features that they provide include:
- Google My Business Management (GMB) Service
- Local View makes it easy and convenient for businesses to keep their GMB Listing up-to-date. They allow properties to be edited and synced all in one place. They also utilize a dashboard to manage locations, posts and photos for your GMB Listing, while also controlling reviews and citations related to your listing. This makes it easy for your business to elevate its SEO rankings to the top of local search results.
- Local SEO Rank Tracking Tool
- Local View monitors and specifies improvements for key channels, to put your business at the top of the SERP rankings. The GMB rank and call tracker that they provide can display a complete overview of your customers and your competitors. With this tool, you can easily track your ranking, how you can overtake other listings and you can obtain information about how clients are finding your business.
- GMB Post Scheduler
- Local View provides GMB Post Scheduler service which can automate review and schedule new GMB posts for all of your business locations. Local View gives you the option of scheduling and automating GMB posts and photos in bulk, at any specified time. This also makes it easy for platforms including Google and Yellow Pages to gather and edit reviews to fit into your website. Your content will be uploaded in the way that you prefer, at any time.
Overall, these companies speak to how Toronto has become one of the best cities for start-ups. Want to read more about Toronto-based topics? Feel free to look through the blogs provided by Toronto Blogs.