Spellbook has been named to the 2026 Technology Fast 50™ awards program. The Toronto-based company is the global leader in contract AI infrastructure. It is ranked No. 7 on the Technology Fast 50 list, powered by 5,826% revenue growth from 2022 to 2025.
Spellbook provides the AI infrastructure that is used by 5,000+ teams across 80+ countries for contracts. The program recognizes 50 fastest growing technology companies in Canada. They are ranked by the percentage increase in revenues over the past four years. Our theme this year is: Growth Built to Last, recognizing organizations that drive sustainable development. These companies are also resilient and have a lasting effect on Canada’s technology sector.
Scott Stevenson, Co-Founder and CEO of Spellbook, commented on the achievement.
“Trillions of dollars in deals sit within contracts that still get read line by line,” said Scott Stevenson, Co-Founder and CEO of Spellbook. “We were first to put AI in lawyers’ hands, and now we’re powering contracts end to end so businesses can unlock revenue and move faster. More teams choose Spellbook than any other AI tool for contracts, and our revenue shows it.”
Spellbook Launches New AI Products for Contracts
This year, Spellbook launched Autonomous Contract Management (ACM). The world’s first AI system powers contracts from intake to repository. In addition, the company introduced Compare to Market. This feature shows lawyers how their terms stack up against real-time market data during negotiation. Furthermore, more than 10 million contracts have been reviewed on the platform.
Amanda Perran, National Technology Fast 50 program co-leader, also praised this year’s winners.
“This year’s winners demonstrate what is possible when vision, talent, and innovation come together. They are tackling complex challenges, unlocking new opportunities, and fueling growth across Canada’s technology ecosystem,” said Amanda Perran, National Technology Fast 50 program co-leader. “Their success is inspiring the next generation of entrepreneurs and helping to build a more connected, competitive, and innovative future for Canada.”
To qualify for the Technology Fast 50 ranking, companies must meet several strict criteria. First, they must have been in business for at least four years. They also need minimum revenue of $50,000 in 2022 and $5 million in 2025. Moreover, they must be headquartered in Canada and own proprietary technology. Finally, they must invest a minimum of 5% of gross revenues in R&D activities conducted in Canada.
Spellbook Builds Its Canadian Team and Leadership
Spellbook has doubled its Canadian headcount to 197 since it opened its new Toronto headquarters in January. The team now works across Toronto, Calgary, St. John’s and Vancouver. Canadian customers include Aritzia, Wealthsimple and Altera Health.
The company has also expanded its leadership team. It brought on former Shopify and Atlassian CTO Jean-Michel Lemieux as Executive Individual Contributor (EIC). Meanwhile, Spellbook named Meltem Kuran-Berkowitz as Chief Marketing Officer.
Looking for more updates on financial innovation and revenue-driven technology? Visit RevTech News for expert insights and the latest trends.
News Source: Businesswire.com
