Decoder.ca

Canadian Tech in 100 Words

1Password Crosses $500M ARR

by

Toronto-based 1Password has surpassed US$500 million in annual recurring revenue as demand grows for security tools serving developers, AI agents, and machines. The company says net new ARR increased roughly 60 percent through the first three quarters of fiscal 2026 while maintaining a double-digit free cash flow margin.

Customers using 1Password’s developer and AI security products are growing ARR about five times faster than others. The milestone comes as 1Password expands beyond credential protection with Unified Access and 1Password for Agents, aiming to secure identities and access across increasingly automated enterprise environments as companies deploy more AI-powered workflows globally today.

Kardium Begins Tracking Real-World Heart Treatments

by

Burnaby’s Kardium has enrolled the first patient in its Globe Registry, a study tracking its heart-treatment technology in routine clinical practice.

The registry is expected to include up to 500 patients across Canada and the United States, with follow-up lasting 12 months after treatment.

Researchers will assess the Globe Pulsed Field System’s safety and effectiveness in patients with atrial fibrillation. Overlake Medical Center in Bellevue, Washington, enrolled the first participant.

The milestone follows U.S. approval in 2025 and Canadian approval this summer. As commercial adoption expands, the registry will gather evidence about outcomes beyond the controlled conditions of clinical trials.

Want to know more? Check out the source code on Techcouver.com.

BioWare Shuts Down After Three Decades

by

Edmonton’s BioWare is shutting down after more than three decades, ending a chapter for one of Canada’s best-known game studios. The developer behind Baldur’s Gate, Dragon Age, and Mass Effect announced that work on its next Mass Effect game will also stop.

The closure follows parent company Electronic Arts’ decision to cut staff and close the studio. EA acquired BioWare in 2007.

Founded in 1995, BioWare helped establish Canada’s reputation for ambitious, story-driven games. Its shutdown adds to a difficult period for the domestic gaming industry, following Ubisoft’s closures of its Winnipeg and Halifax studios and the resulting job losses.

Want to know more? Check out the source code on BetaKit.

Hive Lands US$27 Million for Next Chapter

by

Kitchener-Waterloo’s Hive has announced US$27 million in Series B financing from Frontier Growth to support its next chapter in live-event marketing software.

Most of the transaction consists of secondary capital buying out existing investor Avenue Growth Partners, with a smaller portion funding product development and sales expansion.

Hive connects audience purchasing data with email, text messaging, advertising, and customer relationship tools to help venues and promoters sell tickets.

The 75-person company serves more than 1,600 venues, promoters, and festivals. About 70% of its team works in Canada, including most engineering staff, despite most customers being based in the United States.

Want to know more? Check out the source code on BetaKit.

Ottawa Takes Websites Offline Over Security Flaws

by

Canada has temporarily taken some federal websites offline following the discovery of security vulnerabilities in PHP, software widely used to power websites.

AI and digital innovation minister Evan Solomon said the shutdowns were precautionary measures to protect government systems and Canadians’ information, following guidance from the Canadian Centre for Cyber Security.

The vulnerabilities prompted protective action by governments and organizations internationally. PHP developers have published fixes for supported, up-to-date software versions.

The disruption highlights how weaknesses in shared software can affect public services across borders. The precautionary shutdowns do not, by themselves, establish that Canadian government systems have been breached.

Want to know more? Check out the source code on BetaKit.

NordSpace Lands $20-Million Defence Deal

by

Markham-based NordSpace has signed a 10-year, $20-million agreement giving Canada’s Department of National Defence priority access to its Atlantic Spaceport Complex in Newfoundland and Labrador.

The facility, under construction in St. Lawrence, is intended to support Canada’s domestic launch capabilities. NordSpace says the contract covers minimum facility and systems maintenance costs, with individual missions and launches excluded.

The company has entered a second construction phase and continues targeting orbital launches by 2028.

The agreement gives Canadian defence planners a foothold in domestic launch infrastructure as NordSpace develops its rockets, satellites, and spaceport to reduce dependence on foreign providers for launches.

Want to know more? Check out the source code on BetaKit.

KORT Adds AptPay to Payments Platform

by

KORT Payments has agreed to acquire Toronto’s AptPay, expanding its services beyond card acceptance into account-to-account payments and business disbursements.

AptPay provides a single integration for moving money through payment networks including Interac e-Transfer, Mastercard Send, Visa, and electronic funds transfers.

The combination will broaden KORT’s product offering and support its expansion across North America, including the United States.

AptPay will operate as a KORT division led by chief executive Shams Syed. The deal brings together Canadian payment-processing and payout capabilities as businesses seek simpler ways to accept funds, move money, and manage transactions through fewer technology providers and integrations.

Want to know more? Check out the source code on Fintech.ca.

Reaction Dynamics Thinks Bigger With Borealis

by

Quebec’s Reaction Dynamics has unveiled Borealis, a medium-lift rocket designed to carry six tonnes into low Earth orbit, with a first launch targeted for 2031.

The Longueuil company plans to raise $350 million in additional private investment and expand its workforce from 68 to more than 350 employees by 2031.

Borealis will build on technology developed for Aurora, its smaller rocket targeting an initial orbital flight from Canadian soil in late 2028.

The roadmap includes approximately 375,000 square feet of manufacturing and integration capacity in Quebec, underscoring the investment needed to establish Canadian launch capabilities for commercial and government customers.

Want to know more? Check out the source code here.

PataBid Raises $2 Million for Construction AI

by

Calgary’s PataBid has raised $2 million in pre-seed funding to expand its AI-powered construction estimating software. Graphite Ventures led the round, joined by Sprout Fund, Bluesky Equities, Inverted Ventures, and angel investors.

Founded by Melvin Newman, PataBid helps contractors turn construction drawings into priced estimates through its Quantify platform, combining material identification, supplier pricing, and ordering.

The company says more than 200 contractors use Quantify, with over $2 billion in bids processed.

Funding will support product development, partnerships, and North American expansion. PataBid is also developing Newton, a conversational AI estimating agent, with a commercial launch planned for next year.

Want to know more? Check out the source code on Calgary.tech.

UniUni’s Public Listing Deal Collapses

by

Richmond-based delivery company UniUni’s planned public listing has collapsed after MAK Acquisition terminated their merger agreement. The transaction would have valued the combined business at more than US$1 billion.

MAK said UniUni exceeded the agreement’s maximum cumulative pretax loss, leaving a breach it could not remedy within the allotted period.

UniUni had previously announced plans for a private funding round led by an existing investor to support North American growth and strengthen its financial position.

The setback leaves the logistics company seeking another route to public markets as it prepares for peak delivery season and works to finance continued expansion.

Want to know more? Check out the source code on BetaKit.