Shopify’s Success Puts Spotlight on Next Canadian Tech Stars

From Wattpad to Vidyard, country’s tech sector is booming
A focus on growth -- then maybe an IPO -- company founders say

Inside Shopify Inc.’s office in Waterloo, Ontario.
Photographer: Cole Burston/Bloomberg

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By Simran Jagdev

August 16, 2019 at 9:00 AM UTC

Updated on

August 16, 2019 at 2:23 PM UTC

This article is for subscribers only.

Shopify Inc.’s scorching rally and Lightspeed POS Inc.’s successful trading debut this year are throwing the spotlight on who might be the next Canadian tech star to go public.

A total of C$1 billion ($751 million) was invested in 142 venture capital deals in the first quarter, up 48% from a year earlier, according to the Canadian Venture & Private Equity Association. More than half of that was in tech and increasingly from U.S. investors.