5 AI Startups to Watch in Toronto

Toronto startups to watch

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Toronto is undoubtedly one of Canada’s most vibrant cities. Toronto is a melting pot of talent from diverse backgrounds. The city also boasts some of Canada’s top universities and accelerators, making it a hotbed of innovation. So it comes as no surprise that some of the most cutting-edge tech in the world is being developed in Toronto. As the world turns into AI to identify, improve, and solve many problems, AI startups are rising in the 6ix and putting it on the map. Here are five AI startups that make us proud of having our headquarters in Toronto:

Atomic Reach – “Smart Content. Exceptional Performance.”

Atomic reach logo

Atomic Reach is an AI-powered platform for optimizing marketing and eCommerce content. The main product, Atomic AI, helps you connect through content with each segment of your audience by understanding the readability and tone that each segment prefers to. With big-name clients such as Grant Thornton, UBS, and the University of Washington, Atomic Reach’s products have proven to help boost traffic, customer engagement and conversions using a combination of machine learning algorithms and artificial neural networks.

In 2018, the company announced the completion of $3.4 million bridge round to accelerate its growth.

Intellizence –  “AI-powered business signal intelligence platform for enterprises”

Intellizence logo

Intellizence allows businesses to monitor sales and risk signals in companies as well as industry trends and regulatory changes. The powerful AI discovers hundreds of sales, growth, and risk signals in companies from unstructured comprehensive data sources and delivers intelligent data in structured formats for various applications such as identifying sales opportunities, recognizing risks proactively, staying on top industry trends, and tracking regulatory changes.

Wysdom.AI – “Fully-managed conversational AI”

Wysdom.ai logo

Wysdom.AI offers a full suite of conversational AI solutions to connect with both customers and employees. From chatbots that help answer questions and encourage purchase completions to cognitive search, Wysdom.AI products promise to increase customer satisfaction and loyalty while reducing customer care expenses.

The company was founded in Toronto in 2012 as Crowdcare, but in October 2017, following a rebranding and a name change to Wysdom.AI, the startup announced an $8.5 million raise.

Ideal – “AI-powered talent screening & matching”

Ideal AI logo

Ideal is an AI-powered talent screening and matching system that helps enterprise teams make more fair, and efficient recruitment decisions. Using artificial intelligence, Ideal complements existing HR software as it analyzes rich candidate information such as resumes, chatbot conversations, assessments and performance data. The system then engages and shortlists candidates to help increase the quality of hire and reduce bias.

The Toronto-based company has S&P Data and Indigo among its list of customers. In its efforts to scale its hiring platform, Ideal announced a $3 million raise in 2017.

Naborly – “Building trust between landlords and tenants with game-changing Screening, Insurance, and Lending services.”Naborly logo

Toronto is the most populated city in the Great White North. And so it seems fitting that Naborly, a technology company that focuses on automated risk analysis for the real estate industry, was founded in the 6ix.

Naborly uses artificial intelligence and machine learning to conduct thorough tenant screening that goes beyond credit score. Through a mobile app, tenants create their “tenant resume” and the system analyzes each tenant’s unique characteristics against the desired unit to assess the risks of a tenant to a landlord.

Since its founding in 2014, the Y Combinator-backed startup has formed dozens of API partnerships leading to its 2019 $7.5 million seed round.

Do you have an AI startup in Canada that needs funding? Your research and development might be an asset you’re yet to leverage. Use our online tool to find out if you qualify for SR&ED and how much your loan can be.

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