Miovision, a company that helps cities use video feeds to track and manage traffic, is one of Canada’s fastest growing technology companies at the 32nd spot in Deloitte Technology’s latest “Fast 50” list.
Miovision’s core technology essentially tracks the movement of vehicles through video feeds, turning it into real-time data that can be used to make smarter traffic decisions. For instance, it could help manage traffic lights at intersections to ensure that people can get where they need to go quicker.
Miovision was founded ten years ago by three University of Waterloo Engineering students, and its technology is now used in nearly all major Canadian cities as well as in many smaller ones. From 2011 to 2014, the company reported 305 percent revenue growth.
Miovision CEO and co-founder Kurtis McBride said government agencies are using new technologies to make cities more responsive to the needs of citizens.
Some of the other innovative companies to make Deloite’s Fast 50 include:
- Thinking Capital, an “alternative financing” provider that uses algorithms to help grant loans to SMBs
- Frank & Oak, a Montreal-based online retailer that posted 18,480% growth
- HootSuite, a provider of social media tools based in Vancouver
To see other winners, download Deloitte’s Fast 50 report [PDF].