Unicorn Companies in Vancouver in 2024

• Valuation: $7.60B
• Industry: Media & Entertainment
• Investors: Union Square Ventures, Venrock, Andreessen Horowitz
• Unicorn Milestone Date: 3/30/2021

About

Dapper Labs, founded in 2018 and based in Vancouver, Canada, is a pioneering blockchain technology company known for creating digital collectibles and decentralized applications (dApps). As one of the prominent unicorn companies in Vancouver, Dapper Labs gained initial fame with the launch of CryptoKitties, a blockchain-based game that allows users to collect, breed, and trade unique digital cats as non-fungible tokens (NFTs). Dapper Labs has since developed other popular NFT platforms, including NBA Top Shot, which allows users to buy, sell, and trade officially licensed NBA highlights.

Target Audience

Dapper Labs targets a diverse audience, including:

• Blockchain enthusiasts: Individuals interested in blockchain technology and digital ownership.
• Sports fans: Particularly those who follow the NBA, NFL, and LaLiga, who are interested in collecting digital memorabilia.
• Gamers: Players who enjoy blockchain-based games and digital collectables.
• Investors: Individuals and institutions looking to invest in the burgeoning NFT and digital collectables market.

Business Model

Dapper Labs operates on a blockchain-based business model that revolves around creating, selling, and trading digital collectibles. The company's primary revenue streams include:

• Transaction Fees: Dapper Labs charges fees on transactions made within their platforms, such as buying, selling, and trading NFTs.
• Primary Sales: Revenue from the initial sale of digital collectables, such as packs of NBA Top Shot moments.
• Secondary Market: A percentage of sales made in the secondary market where users trade NFTs among themselves.
• Partnerships and Licensing: Collaborations with major brands and sports leagues, such as the NBA, NFL, and Disney, to create exclusive digital content and collectables.

Key Offerings

• CryptoKitties: A blockchain game where users can collect, breed, and trade unique digital cats.
• NBA Top Shot: A platform for buying, selling, and trading officially licensed NBA highlights as NFTs.
• NFL All Day: A similar platform for NFL fans to collect and trade digital highlights.
• LaLiga Golazos: A platform for collecting and trading iconic moments from LaLiga football matches.
• Disney Pinnacle: A digital pin collecting and trading experience featuring characters from Disney, Pixar, and Star Wars.

Key Management

• Roham Gharegozlou: Chief Executive Officer
• Sam Gharegozlou: Director and President, Axiom Zen

Investment Timeline

• 2018: Founded and raised initial funding.
• 2019: Launched Flow blockchain.
• 2020: Raised significant funding rounds, including $12 million led by Andreessen Horowitz.
• 2021: Raised $305 million in a funding round, valuing the company at $2.6 billion.

• Valuation: $3.20B
• Industry: Financial Services
• Investors: AME Cloud Ventures, Future Perfect Ventures, Blockchain Capital
• Unicorn Milestone Date: 8/24/2021

About

Blockstream is a blockchain technology company and unicorn startup based in Victoria, Canada, with a focus on building infrastructure for the emerging Bitcoin economy. Founded in 2014, Blockstream has become a global leader in Bitcoin and blockchain technology, developing innovative solutions to enhance the Bitcoin ecosystem and make financial markets more efficient by reducing reliance on trust.

Target Audience

Blockstream's products and services cater to a diverse range of clients, including:

• Individual Bitcoin users
• Businesses and enterprises looking to leverage blockchain technology
• Financial institutions and exchanges
• Developers working on Bitcoin and blockchain projects

Business Model

Blockstream's business model revolves around creating and offering cutting-edge blockchain infrastructure and services based on Bitcoin. The company generates revenue through:

• Licensing and implementation of its proprietary technologies.
• Offering subscription-based services for its blockchain solutions.
• Providing consulting and support services to businesses adopting blockchain technology.  
• Selling hardware products like satellite kits for Bitcoin network access.

Key Offerings

• Liquid Network: A Bitcoin sidechain for fast, confidential transactions and asset issuance
• Blockstream Satellite: Global Bitcoin blockchain broadcasting via satellite
• Cryptocurrency market data feed (in partnership with ICE)
• Blockstream AMP: Platform for issuing and managing digital assets
• Elements: An open-source blockchain platform for building sidechain
• Green Wallet: A secure wallet for managing Bitcoin and Liquid assets

Key Management

• Dr. Adam Back: Co-founder and CEO, inventor of Hashcash
• Erik Svenson: Co-founder, President, and CFO
• Lawrence Nahum: Chief Architect
• Jeff Boortz: Head of Product

Investment Timeline

• 2008: MIH Holdings (Naspers subsidiary) takes a minority stake
• 2014: Raises $55 million (Series D) from Innova Capital, Jorge Paulo Lemann, and FINEP
• 2015: Receives $40 million (Series E) from Naspers and Innova Capital
• 2016: Raises $40 million (Series F) from Naspers and Innova Capital
• 2017: Secures $53 million (Series G) from Naspers and Innova Capital
• 2018: Raises $500 million for its iFood delivery app
• 2021: Receives $200 million in funding from Prosus

• Valuation: $1.75B
• Industry: Financial Services
• Investors: AME Cloud Ventures, Future Perfect Ventures, Blockchain Capital
• Unicorn Milestone Date: 06/07/2021

About

Trulioo, based in Vancouver, is a standout among unicorn companies in Canada, providing global identity verification services. Founded in 2011, the company reached unicorn status in June 2021 after raising $394 million in a Series D funding round, valuing it at $1.75 billion. As one of the notable unicorn companies in Vancouver, Trulioo's identity verification platform enables businesses to verify identities of customers and entities across 195 countries, utilising over 450 data sources to offer instant online identity proofing for over 5 billion people worldwide.

Target Audience

Trulioo's services cater to a wide range of industries, including:

• Banking
• Cryptocurrency
• Foreign Exchange
• Marketplaces
• Online Trading
• Payment Service Providers
• Wealth Management

Business Model

Trulioo operates on a B2B (Business-to-Business) model, providing its identity verification platform to global businesses. The company generates revenue by offering its services to organizations that need to verify the identities of their customers or entities they interact with. Trulioo's platform helps these businesses achieve regulatory compliance, reduce fraud risks, and expand their operations globally.

The company's business model is based on:

• API Integration: Trulioo offers API access to its identity verification services, allowing businesses to seamlessly integrate the solution into their existing systems and workflows.
• Data Partnerships: By partnering with numerous data sources worldwide, Trulioo can provide comprehensive identity verification across multiple countries and regions.
• Customizable Solutions: The platform offers customizable workflows and verification processes to meet the specific needs of different industries and regulatory requirements.
• Scalable Pricing: While specific pricing details are not publicly available, it's likely that Trulioo uses a scalable pricing model based on the volume of verifications performed or the size of the client's business.

Key Offerings

• Global Identity Verification: Instant verification of individuals across 195 countries.
• Business Verification: Verification of business entities in over 80 countries.
• AML Watchlist Screening: Screening against global watchlists and sanctions lists.
• Document Verification: Automated authentication of identity documents.
• Proof of Address: Verification of residential addresses.
• Mobile ID Verification: Identity verification through mobile network operators.
• Biometric Verification: Face matching and liveness detection for enhanced security.

Key Management

• Steve Munford: CEO

Investment Timeline

• June 2019: $52.8 million Series C funding round
• June 2021: $394 million Series D funding round, achieving unicorn status with a $1.75 billion valuation

• Valuation: $1.23B
• Industry: Industrials
• Investors: Trane Technologies, Honeywell
• Unicorn Milestone Date: 09/08/2021

About

Nexii Building Solutions Inc. (Nexii) is a green construction technology company based in Vancouver, Canada. Founded in 2020, Nexii designs and manufactures high-performance buildings and green building products that are sustainable, cost-efficient, and resilient to climate change. The company uses a proprietary material called Nexiite, which significantly reduces carbon emissions and construction waste compared to traditional building materials.

Target Audience

Nexii's target audience includes:

• Industrial, commercial, and institutional sectors
• Mixed-use and multi-family residential developers
• Single-family homeowners
• Companies seeking green retrofit solutions
• Corporations aiming to meet net-zero carbon commitments

Business Model

Nexii operates on a business model focused on sustainability and rapid construction. The company designs, manufactures, and assembles buildings using prefabricated panels made from Nexiite. This material allows for quick assembly with reduced environmental impact. Nexii collaborates with technology partners to integrate energy-efficient solutions, enhancing the overall sustainability of their buildings. The company generates revenue through the sale of its building products and construction services, targeting clients who prioritize green building practices and reduced carbon footprints.

Key Offerings

• Nexiite Panels: Prefabricated panels made from a proprietary material with lower carbon emissions than traditional concrete.
• High-Performance Building Envelopes: Airtight and energy-efficient building solutions.
• Rapid Assembly: Quick construction timelines with near-zero onsite waste.
• Sustainable Building Solutions: Products designed for disassembly and reuse, reducing embodied carbon and waste.
• Disaster-Resilient Buildings: Structures that are fire, flood, hurricane, and earthquake resistant.

Key Management

• Stephen Sidwell: CEO and Co-founder
• Michael Dombowsky: Co-founder, Co-inventor & Senior Vice President of Building Technology
• Ben Dombowsky: Co-founder, Co-inventor & Senior Vice President of Product Development
• Bill Tucker: CEO of Omicron and key executive at Nexii

• Valuation: $1B
• Industry: Enterprise Tech
• Investors: Foundation Capital, Summit Partners, Adams Street Partners
• Unicorn Milestone Date: 6/29/2021

About

Visier, headquartered in Vancouver, Canada, became part of the Unicorn Companies in Vancouver in June 2021. Founded in 2010, Visier reached unicorn status in June 2021 after securing $125 million in Series E funding, bringing its valuation to over $1 billion. The company offers cloud-based people analytics and workforce planning software, empowering organizations to make data-driven decisions about their workforce and human resources strategies.

Target Audience

Visier's target audience includes large enterprises, particularly those in the Fortune 500. The company serves over 8,000 customers across various industries, including energy, manufacturing, media, technology, and financial services.

Business Model

Visier operates on a Software-as-a-Service (SaaS) model, providing cloud-based analytics solutions to its customers. The company's platform combines data from various HR systems and other sources to provide comprehensive workforce insights. Visier's business model focuses on:

• Subscription-based pricing: Customers pay for access to Visier's analytics platform on a recurring basis.
• Embedded partnerships: Visier has an ecosystem of embedded partnerships, allowing other companies to integrate Visier's analytics capabilities into their own products.
• Continuous innovation: The company invests heavily in product development, including AI and machine learning capabilities, to stay ahead in the competitive HR tech market.
• Customer success: Visier emphasizes customer satisfaction and retention, which has contributed to its rapid growth and high customer retention rates.

Key Offerings

• People analytics platform
• Workforce planning tools
• Predictive analytics for HR decision-making
• Embedded analytics solutions for partners
• AI-powered digital assistant "Vee" for people insights
• Custom analytics solutions through the "Open for Builders" initiative

Key Management

• Ryan Wong: Co-founder and CEO
• John Schwarz: Co-founder and Chairman of the Board
• Michael Burgener: Co-founder and Director of Information Security