Toronto company tops this year's Fast 50 list

Making its debut in the top spot of Deloitte's Fast 50 is Toronto-based digital media company, Chango. Established in 2008, Chango is an ad platform that uses real time user data to implement targeted marketing campaigns for its clients to acquire new customers, retarget site visitors and build brand awareness. The company had a five-year revenue growth of 69,800 per cent.

In second place is Vancouver-based HootSuite with a five-year growth rate of 56,514 per cent, also making its debut on the list. Ottawa-based Shopify takes the third spot with a five year growth rate of 16,759 per cent.

On average, this year's Fast 50 winners achieved a five-year growth rate of 4,736 per cent, a significant increase from last year's growth rate of 832 per cent.

"Fast-growing companies used to look solely to the U.S. to secure sources of capital when domestic venture capital dried up after 2000, but the pendulum is now swinging back into balance. That is the result of recently added investments to the Canadian technology investing sector," says Robert Nardi, partner at Deloitte Canada.