Tracking the tech downturn across Canada with data

Hockeystick BC
When the party winds down, the hangover is fast to follow.

It’s pretty clear that the bloom is off the rose of Canadian tech right now.

After the intoxicating highs of 2021, 2022 has seemed like one long hangover, with tech companies large and small facing massive layoffs and valuation markdowns.

But that’s a narrative – it’s not quite reality. And the narrative isn’t necessarily evenly distributed across Canada.

“This was the moment that you knew the hangover was about to kick in.”

So, how do we dig deeper? Well, we need data.

Thankfully we have that, due to our partnership with, resulting in quarterly reports on venture funding for each tech ecosystem across Canada. We also have the author of those reports, one Isabelle Kirkwood.

Looking for a data-backed comparison of how Canadian tech is handling 2022? You’ve come to the right place.

Let’s dig in.

Q2 2022 Canadian venture funding reports:
Following a record-setting first quarter, Québec venture funding eased up in Q2 2022
As Canadian venture funding lost steam in Q2 2022, Alberta tech continued to shine
BC tech funding returned to pre-bull market levels in Q2 2022
With only four deals closed, Q2 2022 was Waterloo Region’s least active funding quarter in three years
Funding party is over as Toronto tech stumbles in Q2 2022

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Douglas Soltys

Douglas Soltys

Douglas Soltys is the Editor-in-Chief of BetaKit and founder of BetaKit Incorporated. He has worked for a few failed companies and written about many more. He spends too much time on the Internet.

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