Bug-detection software firm Noibu top local entry on Globe and Mail’s fastest-growing companies list

September 23, 2022

Noibu’s bug-detection platform for e-commerce businesses just keeps generating buzz.

The software-as-a-service firm is the highest-ranked Ottawa entry on the Globe and Mail’s annual list of Canada’s fastest-growing companies released Friday, coming in at No. 28 with three-year revenue growth of 1,614 per cent.

It’s the first appearance on the list for Noibu, which placed second in OBJ’s fastest-growing companies competition earlier this year and also made OBJ’s list of the city’s places to work for the second year in a row.

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Founded in 2017, Noibu began as a vehicle for offering 3D virtual tours of high-end retailers’ brick-and-mortar stores before shifting its focus two years later to software that detects and helps resolve glitches in online stores.

The pivot proved to be a smart move for the fast-rising firm. Noibu – whose customers include household retail brands like Avon, Champion and Guess – boasts nearly 100 employees and is projecting revenues of more than $8 million in 2022.

The bootstrapped organization is also in the process of securing an external funding round, co-founder Filip Slatinac said in a recent interview.

Sharp focus

“We’re on track to be the leader in this space,” Slatinac told Techopia Live host Michael Curran. “We expect our revenue to keep growing. Our focus on product has never been more sharp.”

Noibu is far from the only local organization to crack the Globe and Mail’s rankings, which are now in their fourth year and rely on companies to voluntarily submit applications with supporting financial documents.

Not surprisingly, tech firms once again formed a large chunk of the Ottawa contingent. But the list also included staffing and recruitment firm Keynote Search, which ranked 158th with three-year growth of 286 per cent, home-care provider Assurance Home Care (No. 243, 157 per cent) and food retailer Kettlemans Bagel Co. (No. 378, 74 per cent).

Here is the full list of Ottawa-Gatineau firms on the Globe and Mail’s Report on Business ranking of Canada’s top-growing companies: