12 Most Exciting Healthcare Startups in Toronto

4 months ago

There are over 850+ healthcare startups in Toronto.

And here is the list of the 12 most popular ones.

Let’s explore the 12 most exciting healthcare startups Toronto

#1. AlayaCare:

Founded: August 2014

AlayaCare

AlayaCare empowers caregivers to deliver enhanced outcomes with its end-to-end home healthcare platform.

Its solution allows home health businesses to optimize their care operations, enrich care outcomes, retain employees, and scale up the business to new heights.

Funding:

AlayaCare has nabbed a whopping USD $293.14M in funding over 11 rounds.

Klass Capital, Investissement Quebec, and Generation Investment Management are the leading investors in AlayaCare.

The number of total investors:  12

You must also read: AlayaCare alternative

#2. ACTO:

Founded: July 2014

Backed by AI, it is a SaaS platform (Omnichannel Education) built for the life sciences industry.

Its cross-platform app includes tools that help the learners to grasp education with ease. In addition, it also provides a command center to manage the educational content lifecycle efficiently.

Funding:

ACTO has grabbed a total of USD $32.1M in funding over 6 rounds.

Questa Capital Management and Resolve Growth Partners are the leading investors in ACTO.

The number of total investors:  11

#3. SeamlessMD:

Founded year: 2012

SeamlessMD

This healthcare startup in Toronto is the leading patient engagement platform that helps in elevating patient outcomes and care experience while at the same time reducing the cost associated with it.

In fact, it enables the patients to access their digital health plan at any time from anywhere using their smartphones, tablets or computers in order to analyze their progress or appointment schedule.

Funding:

ACTO has raised a total of USD $4.1M in funding over 3 rounds.

MEDTEQ+ is the leading investor in SeamlessMD.

The number of total investors:  12

#4. Vetster:

Founded year: 2020

Vetster offers an online vet appointments platform to connect pet owners to certified vets.

What makes it unique is that Vetster provides online vet solutions 24/7 via chat and video conferencing.

Skin issues, diarrhea, behavioural concerns, minor cuts, wellness and general pet health are the most common vet services that pet owners can obtain at any time from their comfort zones. 

Funding:

Vetster has grabbed a total of USD $40M in funding over 2 rounds.

Kensington Capital Partners Limited and Whitecap Venture Partners are the leading investors in Vetster.

The number of total investors:  8

You must also read: Build an app for vets

#5. PocketHealth:

Founded year: 2016

PocketHealth

The cloud-based platform allows the patients to access, analyze and share their medical imaging records at any time, from anywhere, in any corner of the world. 

Because of its bank-level encryption technology, it is trusted by over 700,000 patients and 550+ healthcare entities across North America.

Funding:

PocketHealth has scored a total of USD $22.4M in funding over 3 rounds.

Questa Capital Management and Radical Ventures are the only investors in PocketHealth.

You must also read: Build medical imaging platform like PocketHealth

#6. League:

Founded: June 12, 2014

League

League is the next-generation digital infrastructure platform that is transforming the future of healthcare as a healthcare startup in Toronto.

Its robust platform enables the healthcare ecosystem to offer a better experience for healthcare professionals, payers, consumers and employees and consultants.

Last but not least, it allows providing a patient-centric care approach that initially improves the care outcomes of the patients.

Funding:

League has clutched a total of USD $171.1M in funding over 5 rounds.

TDM Growth Partners, TELUS Ventures, and OMERS Ventures are the leading investors in League.

The number of total investors:  19

#7. Maple:

Founded year: 2015

Maple

It is a virtual health platform that allows patients to get care solutions along with prescriptions or sick notes.

The most interesting part about Maple is that it offers 24/7 online consultation and prescription solutions.

In fact, it has almost decoded 91% of the medical concerns in the first visit.

Funding:

Maple has grabbed a total of USD $72M in funding over 3 rounds.

Shoppers Drug Mart Corporation, Action Capital, and MaRS Investment Accelerator Fund are the leading investors in Maple.

The number of total investors:  10

#8. MedChart:

Founded year: 2014

MedChart

It is transforming the way of accessing and sharing health records with its online medical records sharing platform.

MedChart simplifies the hassle of medical records access for healthcare organizations, individual care providers, patients, insurance companies, and lawyers.

Funding:

MedChart has nabbed a total of USD $17.6M in funding over 9 rounds.

Golden Ventures and Crosslink Capital are the leading investors in MedChart.

The number of total investors:  11

#9. CorVista Health:

Founded year: 2012

CorVista Health is transforming the next generation of cardiovascular diagnostic solutions.

Its cardiac diagnostic platform is backed by AI and ML algorithms that harness the true power of the data in order to improve the care outcomes of the patients.

Funding:

CorVista Health has raised a total of USD $94M in funding over 4 rounds.

MedVenture Partners and Ambix Life Science Fund I, L.P. are the only investors in CorVista Health.

#10. Verdemed:

Founded: June 2018

Verdemed

This healthcare startup in Toronto is a pharmaceutical cannabis company that offers cannabis-based medication solutions to patients in Latin America.

Verdemed's mission is to provide result-driven and clinically-approved cannabinoid products to all Latin Americans.

Funding:

Verdemed has raised a total of USD $13M in funding over 4 rounds.

#11. Able Innovation:

Founded: February 2018

It is elevating the standard of patient handling.

Able Innovation’s platform is backed by a state-of-the-art robotics platform that makes patient handling painless for healthcare workers.

Its platform ensures operational efficiency and streamlined clinical workflows while at the same time improving the patients' and care workers’ safety.

Funding:

Able Innovation has scored a total of USD $12M in funding over 4 rounds.

Velocity is the leading investor in Able Innovation.

The number of total investors:  6

#12. Deep Genomics:

Founded year: 2014

This healthcare startup in Toronto is empowering the drug development approach with AI, RNA biology, and automation. 

Deep Genomics is familiar with the complex, costlier, and time-consuming drug development process.

Thus, it utilizes AI in order to find the most appropriate drug for the genetic disorder.

Funding:

Deep Genomics has scored a total of USD $236.7M in funding over 6 rounds.

Softbank Vision Fund, Future Ventures, and Khosla Ventures are the leading investors in Deep Genomics.

The number of total investors:  15

5 lessons we have learned while helping healthcare startups as a healthcare IT company in Canada

Based in Ontario, we are a healthcare-focused IT company.

We bear a bold vision to transform the next generation of healthcare approaches using cutting-edge technology.

With the same visionary mindset, we have been working with healthcare startups for the past 7+ years.

And here are the 5 lessons we have learned by working with over 50+ healthcare startups.

#1. Sell experience. Not just a product or service.

#2. Design has a language. It talks success.

#3. Business model must deliver profit to you and value to your users. 

#4. Afraid of compliance? Try non-compliance! 

#5. Hiring a healthcare IT company = peace of mind + clinical value!