Ottawa

Software startup Noibu soars to No. 8 on Globe and Mail’s list of fastest-growing firms

October 2, 2023
11:51 AM
ET

Organizations: In-Depth Contracting, Kettlemans Bagel, Noibu

Make no mistake – Noibu’s error-monitoring system for e-commerce sites has propelled the company to the top tier of local tech startups.

For the second year in a row, Noibu is the highest-ranked Ottawa firm on the Globe and Mail’s annual list of Canada’s fastest-growing companies released Friday. The software-as-a-service enterprise came in at No. 8 in this year’s Globe rankings with three-year revenue growth of 3,853 per cent – a jump of 20 spots from a year ago.

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.

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The pivot proved to be a smart move. Noibu – whose customers include household retail brands like Avon, Champion and Guess – now has 83 employees and is quickly approaching $10 million in annual revenues.

The firm is no stranger to lists of businesses to watch. Earlier this year, it placed second on OBJ’s list of top-growing Ottawa-based companies, the second consecutive year it finished in the No. 2 slot.

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

Not surprisingly, tech firms once again constituted a significant chunk of the Ottawa contingent. But the list also included heavy construction firm In-Depth Contracting, which ranked 295th with three-year growth of 136 per cent and food retailer Kettlemans Bagel Co., which made its third appearance on the list with three-year growth of 86 per cent, good for 393rd place.

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: