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A new economic wave is washing through the Tri-Cities area, with the local universities giving rise to a healthy startup ecosystem. But tech isn’t the only booming industry in and around Kitchener-Waterloo, as evidenced by the region’s respresentatives on the 2016 PROFIT 500 ranking of Canada’s Fastest-Growing Companies.

The 19 firms located in and around Kitchener-Waterloo on this year’s ranking grew their revenues an average of 1,166% between 2010 and 2015, creating an additional 1,297 full-time equivalent (FTE) jobs over that period. Collectively they employed 1,772 full-time and 484 part-time employees in 2015.

Here is the complete list of the Tri-Cities’ Fastest Growing Companies for 2016.

1. Magnet Forensics

PROFIT 500: No. 9
Head Office: Waterloo, Ont.
Growth (2010–2015): 5,636%
Revenue (2015): U.S.$10–20 million
Employees (2015, full-time equivalent): 88

What it does: Develops and sells digital-investigation software

2. Keyspire

PROFIT 500: No. 11
Head Office: Cambridge, Ont.
Growth (2010–2015): 5,446%
Revenue (2015): $10–20 million
Employees (2015, full-time equivalent): 43

What it does: Offers education and an online community for real estate investors

3. Sortable

PROFIT 500: No. 14
Head Office: Kitchener, Ont.
Growth (2010–2015): 4,653%
Revenue (2015): $5–10 million
Employees (2015, full-time equivalent): 20

What it does: Develops ad-optimization software and provides automation services for online publishers

4. QuickContractors.com

PROFIT 500: No. 28
Head Office: Cambridge, Ont.
Growth (2010–2015): 2,611%
Revenue (2015): $10–20 million
Employees (2015, full-time equivalent): 586

What it does: Connects businesses with contractors, assemblers and installers of furniture, appliances and other fixtures

5. TextNow

PROFIT 500: No. 116
Head Office: Waterloo, Ont.
Growth (2010–2015): 642%
Revenue (2015): $20–50 million
Employees (2015, full-time equivalent): 68

What it does: Distributes smartphone and wireless calling and texting packages

6. eSentire

PROFIT 500: No. 136
Head Office: Cambridge, Ont.
Growth (2010–2015): 530%
Revenue (2015): $10–20† million
Employees (2015, full-time equivalent): 229

What it does: Provides IT security services to small and mid-sized enterprises

7. MarshallZehr Group

PROFIT 500: No. 141
Head Office: Waterloo, Ont.
Growth (2010–2015): 490%
Revenue (2015): $5–10 million
Employees (2015, full-time equivalent): 16

What it does: Provides real estate developers with financing and capital management services

8. Financial Horizons Group

PROFIT 500: No. 169
Head Office: Kitchener, Ont.
Growth (2010–2015): 373%
Revenue (2015): $20–50 million
Employees (2015, full-time equivalent): 325

What it does: Distributes financial and insurance products and services through a network of independent financial advisors

9. Stance Healthcare

PROFIT 500: No. 189
Head Office: Kitchener, Ont.
Growth (2010–2015): 315%
Revenue (2015): $10–20 million
Employees (2015, full-time equivalent): 27

What it does: Manufactures and distributes furniture for the health-care market

10. Eclipse Automation

PROFIT 500: No. 222
Head Office: Cambridge, Ont.
Growth (2010–2015): 251%
Revenue (2015): $20–50 million
Employees (2015, full-time equivalent): 222

What it does: Designs, installs and maintains industrial automation systems

• • • • •

Other fast-growing companies from Kitchener-Waterloo on the 2016 PROFIT 500:

11. AET Group (No. 235); 12. Angstrom Engineering (No. 337); 13. Vinyltrends (No. 355); 14. Six S Partners (No. 369); 15. Liftsafe Group of Cos. (No. 381); 16. XL Tool (No. 391); 17. Cornerstone Courier (No. 400); 18. GCP Industrial Products (No. 429); 19. Stemmler Meats & Cheese (No. 485).

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