Last year, Communitech unveiled the first ever Team True North.
The Kitchener-Waterloo hub for entrepreneurship created the list to spotlight “the best of Canadian tech”—which by their measure is defined as high-performing tech firms tracking to $1 billion in annual revenue with growth rates that match the top 1% of companies in the world.
Communitech recently added 26 Canadian tech firms to Team True North, which “represents the top one per cent of global private tech companies in Canada.”
“We’re thrilled to have identified world-class tech firms in Canada’s innovation economy,” stated Chris Albinson, CEO of Communitech, in October. “Our tech ecosystem’s ability to weather current economic challenges is due to their impressive growth.”
Team True North 2022 featured three startups based in Calgary: fintech startup Neo Financial, tele-health firm PurposeMed, and Absorb Software, a learning technology company known for its flagship product, Absorb LMS, a learning management system for businesses, higher education, and government agencies around the world.
“Our corporate learning and development products empower organizations to scale their learning so employees can deepen their skill sets in a learning culture that adapts to their needs,” the Calgary-born company explains. “With a solid online learning platform foundation, employees will be empowered to foster their talents and support long-term business growth.”
Absorb believes learning and development tools can be a competitive advantage.
“Businesses often struggle to fuel growth while supporting the learning needs of employees, partners and resellers who lack the engagement—and time—needed to close training gaps,” the company affirms.
Today, Absorb LMS is trusted by 1,700 customers across several businesses, governments, healthcare providers, educators and non-profit organizations three dozen countries—winning “over 100 awards for innovative technology,” according to the Alberta company.
“Whether you’re a small to mid-sized business or a large corporation, our learning management system is intelligently crafted for all types of organizations and learners,” Absorb states online. “Our LMS software focuses on aligning learning needs with business demands, regardless of who you’re training or why.”
Other products from Absorb include Intelligent Assist, an AI feature that allows admins to manage day-to-day tasks more efficiently. For example, type “Show me all the users that did not pass Security Compliance training,” and the report will take you to a pre-populated list of those specific users.
Founded in 2002, Absorb has found firm footing in recent years. From 2015 to 2017, the company tripled a formerly humble headcount. The Alberta organization then went on to raise major funding from Silversmith Capital Partners and others, which helped fuel the company’s continued growth through 2021, when it was acquired by New York-based private equity firm Welsh, Carson, Anderson & Stowe.