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Waterloo leads Canadian contingent on new global cybersecurity ranking

Cybersecurity Ventures announced their very first Hot 150 list of cybersecurity companies to watch in 2020 and three of them are based in Waterloo.


Earlier this month, Cybersecurity Ventures – the world’s leading researcher of the global cyber economy – announced their very first Hot 150 list of cybersecurity companies to watch in 2020.

Amongst a group of international candidates, five companies from Canada made the list, three of which are based in Waterloo. When we looked a little closer, we discovered that two others have operations in Waterloo as well.

Appearing in their in-house publication, Cybercrime Magazine, the list highlights the most innovative companies in the current cybersecurity market.

Companies were ranked using a comprehensive set of selection criteria including a company’s sector, the problems they are solving, the venture capital they have raised and more.

So, who are these companies and what makes them globally competitive in this industry?

*Waterloo HQ companies identified with (HQ) and companies with Waterloo operations identified with (O)

  1. Arctic Wolf Networks (O) – This SOC-as-a-service company is redefining cybersecurity by developing a comprehensive, adaptable program that can keep up with the ever-changing security landscape. While they were founded in 2012 in California, the company strengthened their Waterloo operations when they acquired Waterloo-based start-up, RootSecure, in 2018.
  2. BlackBerry (HQ) – Throughout recent years, BlackBerry has become one of the world’s largest cybersecurity firms, largely thanks to their acquisition of Cylance earlier this year. More recently, they announced the development of a new cybersecurity research and development lab within their Waterloo operations.
  3. eSentire (HQ) – Founded in 2001, this security innovator created an entirely new category of cybersecurity – managed detection and response – and their software-as-a-service product is used in more than 50 countries worldwide. The company announced a $47 million investment and expansion in Waterloo earlier this year.
  4. McAfee (O) – With the goal of building a culture of security, McAfee strives to defeat cybercrime and create a safe and connected world. Setting up their Waterloo office back in 2000, they focus on research and development here, employing plenty of talented software developers.
  5. NCC Group (O) – This company’s software helps to instill organizational resilience when it comes to protecting a brand, reputation, and sensitive customer information. Their Waterloo office, which launched in 2015, is dedicated to researching the security of embedded devices and has its own hardware assessment laboratory.

This exciting news for Waterloo highlights the world-class strength of our security ecosystem.

With our unique security research assets and large security-oriented business community – including companies like Magnet Forensics, Oracle, Sandvine and ISARA – it’s no wonder that we’re Canada’s leader in the security space and a top option for security companies looking to unlock innovation.

Ready to learn more?

Do you want to learn more about Waterloo’s dynamic business ecosystem? Contact our team today.