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7 Fastest Growing Businesses in North America

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The coronavirus pandemic has permanently altered the global economy, from the way we do business to what industries will dominate the international marketplace. What was normal a few months ago is no longer normal today, and this includes what companies will survive and thrive in the post-COVID-19 economy. While a retail shop just opening up in January may have had bad luck, a tech firm launching operations at the same time may have had some good luck. It is all about perspective and timing.

The virus outbreak has permanently changed things, whether it is how we work or how businesses grow their operations. Because there has been a dramatic shift to online, companies that had yet to make that transition will have a harder time succeeding. Any firm that already made that leap into digital commerce will possess an advantage. And, as you can see from this list, if you specialise in technology or health care, you are flourishing.

In North America, there are two types of businesses that will be at the forefront of corporate success: tech and health care. There are many health and tech companies in Toronto that have thrived during recent years. So, who are these organisations that are enjoying success? Let’s explore some of the fastest-growing companies in the United States and Canada.

Here are the seven fastest growing businesses in North America:

1. Levio | Professional Services | Quebec City, Quebec

Company Financials 2019
Employees: 500+
5-year revenue growth: 16,000%
Revenue: $20 million+

Canadian-based Levio is a business management consultant firm, often considered one of the fastest growing businesses in North America. It is a leader in enterprise digital transformation and information technology. It is not your typical McKinsey & Company, Bain and Company, or Accenture.

2. Prodigy Education | Software | Burlington, Ontario

Company Financials in 2019
Employees: 200+
5-year revenue growth: 14,000%+
Revenue: $20 million+

The developed world is taking the classroom online. Although many students are returning to school, many more are staying home to study. Businesses, like Prodigy Education, are expected to benefit from this market, thanks to its education software that helps parents, teachers, and schools provide curriculum tools and performance reports.

3. Neuvoo | Human Resources | Montreal, Quebec

Company Financials in 2019
Employees: 100+
5-year revenue growth: 5,000%+
Revenue: $20 million+

Neuvoo is a job search engine that connects workers to employment opportunities. While it might seem like yet another website to find jobs, Canada does not have too many of these compared to south of the border. Plus, its unique technology has garnered tens of millions of dollars in private investment. As its co-founder, Luca Martinez, said, “We’re a small business with the complexity of a large multinational.”

4. Wave | Finance | Toronto, Ontario

Company Financials in 2019
Employees: 200
5-year revenue growth: 5,000%
Revenue: $20 million+

It has been said that the COVID-19 pandemic killed small businesses. But is this true? The concerns might be overblown, but there are ways that smaller enterprises will be able to cope in the so-called new normal. Wave Financial, for example, is a financial software firm that offers free invoicing and accounting software with credit processing and payroll services. This is targeted specifically for small businesses, which is crucial for these outfits attempting to either gain a competitive advantage or find savings.

5. LetsGetChecked | Health care | New York City, New York

Company Financials in 2019
Employees: 100+
5-year revenue growth: N/A
Revenue: $36.5 million

When LetsGetChecked first started in 2014, it probably did not envision it would design health tests for the worst pandemic since the Spanish Flu a century ago. But here we are. LetsGetChecked has launched a test for the coronavirus to help frontline health care workers fight COVID-19. While it does not have an at-home test yet, the company does intend to release one for the public soon.

6. CircleCI | Technology | San Francisco, California

Company Financials in 2019
Employees: 300+
5-year revenue growth: 54,000%+
Revenue: $43.5 million

CircleCI is a continuous integration and continuous delivery platform that facilitates your venture to the cloud or your need for a private server. It has become a critical component for web development, especially for users who are looking to move away from Jenkins.

7. Divvy | Fintech | Lehi, Utah

Company Financials in 2019
Employees: 300+
5-year revenue growth: 4,000%+
Revenue: $59 million

At a time when businesses – large and small – are looking for ways to tighten their belts and be prepared for a raucous ride, Divvy becomes an invaluable source. This fintech firm offers an expense management and business budgeting tool that helps companies produce expense reports, maintain budgets, manage reimbursements, and submit financial reports. It also recently launched a real-time business funding platform. Venture capitals are in love with it since it has raised hundreds of millions of dollars since it was founded a decade ago.

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