7 Waterloo Companies Make Canada's Top Growing List

The region is home to budding startups and big brands alike, and this year, several local companies have earned a coveted spot on the Globe and Mail’s prestigious “Canada’s Top Growing Companies” list for 2023.

The report ranks 425 private and public Canadian businesses that “will give you expansion envy.” Though any company can apply, only the ones with “staggering three-year growth rates” made the final list.

Let’s take this opportunity to proudly spotlight some of our region’s fastest-growing businesses. These companies, from a diverse range of industries, are contributing to the region’s economic growth and representing the Waterloo brand on a national stage.

Editor’s note: Waterloo Region is made up of three cities and four townships. We’ve identified the community where you’ll find each company in the summaries below. Together, we’re known as Waterloo.

Kinsbrae Packaging Inc. (#111)

Located in Cambridge, Kinsbrae Packaging Inc. has been a leading name in providing full-service packaging services. With a revenue growth rate of a staggering 421%, it’s no wonder they took the region’s top spot on the list. Kinsbrae Packaging Inc. started as a small operation, but their commitment to excellence and innovation has led to exponential success. They currently employ 13 people and their revenue was $10-25M CAD in 2022.

Crafty Ramen (#156)

In the heart of Kitchener, Crafty Ramen has been delighting food lovers with its mouthwatering ramen dishes. In addition to operating ramen restaurants, they also sell meal kits online and in stores. Their revenue growth of 309% speaks volumes about their culinary expertise and customer loyalty. Crafty Ramen has 83 employees and achieved revenue of $2-5M CAD in 2022.

FMF Metal (#248)

FMF Metal, located in Kitchener, specializes in providing metal fabrication services. Their remarkable journey secured them a top spot for revenue growth among their peers in 2023. With a growth rate of 173%, FMF Metal has proven their mettle in the industry. They employ 30 skilled professionals and achieved revenue of $2-5M CAD in 2022.

Mappedin Inc. (#277)

In Waterloo, Mappedin Inc. has been a pioneer in creating mapping software for indoor spaces like shopping malls, hospitals, airports, stadiums and more. Their 148% revenue growth is a testament to the relevance and quality of their products. With a workforce of 90, Mappedin Inc. achieved revenue of $5-10M CAD in 2022. Want to see how it works? Try the new Mappedin Maker app for free.

Prime Automation Inc. (#285)

Prime Automation Inc., also located in Waterloo, specializes in automating systems, with a particular focus on control systems for manufacturers. Their impressive 144% revenue growth showcases their ability to stay at the forefront of automation technology. With 29 employees, Prime Automation Inc. achieved revenue of $5-10M CAD in 2022.

Bridgit (#318)

Kitchener-based Bridgit is making waves in the construction industry with their workforce planning software. Their 122% revenue growth is a testament to the impact of their solutions. With a team of 82, Bridgit achieved revenue of $5-10M CAD in 2022.

Encircle Inc. (#379)

Last but not least, Encircle Inc. in Kitchener is making an impact with their property insurance software tailored for carriers, adjusters and contractors. Their 93% revenue growth reflects the value they bring to the insurance industry. With 92 on staff, Encircle Inc. achieved revenue of $5-10M USD in 2022.

For the full list of Canada’s Top Growing Companies, visit the Globe and Mail article here.

Congratulations are in order

These are just seven of the hundreds of growing companies that are contributing to Waterloo’s reputation as one of North America’s leading innovation hubs.

Waterloo EDC congratulates Kinsbrae Packaging Inc., Crafty Ramen, FMF Metal, Prime Automation Inc., Bridgit and Encircle Inc. for their outstanding progress over the last three years and we look forward to seeing your continued growth and impact for years to come.