Martello Technologies tops Ottawa firms on Growth 500 list for second straight year

proctor
Martello Technologies CEO John Proctor.

While nearly two dozen established Ottawa firms are proving themselves among the fastest-growing in Canada, the National Capital Region was shut out of a list ranking up-and-coming Canadian startups, according to an annual report released Thursday.

Every year, Maclean's Magazine and Canadian Business rank the top 500 companies across Canada based on five-year revenue growth. This year’s Growth 500 list, previously called the Profit 500, named 22 Ottawa-based companies among its ranks – four more than last year.

Leading the pack locally for a second year in a row was Kanata’s Martello Technologies at No. 28. The local communication services firm moved up 20 spots from last year’s list with five-year growth of 2,231 per cent.

It’s been a good week for the local firm, as the company went public on the TSX Venture Exchange Wednesday following a reverse takeover transaction.

Rounding out Ottawa’s top five were cloud-based IT company HostedBizz at No. 50, digital agency OPIN at No. 69, sensor developer Giatec Scientific at No. 80 and consulting firm Napkyn Analytics at No. 141.

Alongside the Growth 500, the business magazines also release the Startup 50, a ranking of Canada’s most promising young firms based on two-year revenue growth. No Ottawa companies placed on this list. Womp womp.

Here’s the full list of Ottawa companies with their overall ranking on the Growth 500 and their five-year growth percentage:

Ottawa firms on the 2018 Growth 500

#28 - Martello Technologies

2,231% five-year revenue growth

#50 - HostedBizz

1,446% five-year revenue growth

#69 - OPIN

1,165% five-year revenue growth

#80 - Giatec Scientific

1,035% five-year revenue growth

#173 - InGenius Software

446% five-year revenue growth

#141 - Napkyn Analytics

622% five-year revenue growth

#253 - D-Squared Construction

263% five-year revenue growth

#261 - Versature

257% five-year revenue growth

267 - Ontario Rental and Supply

251% five-year revenue growth

270 - NewFound Recruiting

248% five-year revenue growth

272 - Shared

246% five-year revenue growth

303 - PrecisionIT

218% five-year revenue growth

306 - Fishburn Sheridan & Associates

216% five-year revenue growth

330 - NetFore Systems

195% five-year revenue growth

346 - The Mortgage Advisors

182% five-year revenue growth

349 - i-Sight

179% five-year revenue growth

370 - Avaleris

161% five-year revenue growth

379 - Pythian

152% five-year revenue growth

461 - RBR

113% five-year revenue growth

469 - Inflector Environmental Services

109% five-year revenue growth

484 - DLS Technologies

101% five-year revenue growth

495 - Interactive Audio Visual

95% five-year revenue growth