Ottawa's startups are continuing to heat up the Canadian business scene, with the naming of three local companies among PROFIT Magazine's HOT 50 list of firms, including top-five entry Apption Software.
The business process improvement software maker was ranked fifth with growth of 2,367 per cent between 2005 and 2007, as its sales jumped to $1.23 million and its payroll swelled from just five staff to 19 employees within the two-year period.
IT consulting firm PrecisionERP Inc. was the next highest-ranked Ottawa company on the list, taking 11th place with two-year growth of 874 per cent, to $3.84 million, followed by 31st-ranked IronGate Server Management & consulting, which had growth of 286 per cent to $2.32 million.
The list, which was the magazine's ninth annual ranking of emerging-growth Canadian companies, was topped by Concord, Ont.'s MortgageBrokers.com Holdings Inc., which saw growth of 3,993 per cent in the two-year period.
The report noted that the average HOT 50 firm achieved revenue growth of 756 per cent, and the average sales for all 50 companies was $6.7 million.
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