Two companies responsible for some of the largest exits in Calgary's tech history were recognized on Wednesday night at the Start Alberta Tech Awards, an annual event celebrating achievement across the province's technology sector.
Liquid cooling specialist CoolIT Systems and telehealth company PurposeMed were among 10 honourees, according to a report by BetaKit. Calgary FinTech Helcim was also recognized for its expansion over the past several years.
An Awards Program Rooted in Alberta's Startup Community
The awards are run by Start Alberta, a database tracking startups and funding activity in the province. Start Alberta is operated by The A100, a network of tech and innovation leaders, founders and investors that was founded in 2010 and serves Western Canada.
This year marked the ninth edition of the awards, which were held at the National Music Centre in Calgary. Honourees were selected across 10 categories.
Tamara Woolgar, executive director of The A100, said in a press release that the honourees are building technology that addresses genuine needs for people globally, and that their collective success demonstrates what Alberta-based companies can accomplish.
CoolIT Systems Takes Deal of the Year
CoolIT Systems received the Deal of the Year award in recognition of its acquisition by Ecolab. The deal was valued at $4.75 billion USD, or roughly $6.6 billion CAD.
The transaction was announced last March and closed in July. It stands as the largest disclosed acquisition price ever paid for an Alberta-based company.
CoolIT develops advanced liquid cooling technology, a category that has drawn growing attention as data centres look for more efficient ways to manage the heat generated by high-density computing.
PurposeMed Named Anchor of the Year
PurposeMed, the company behind telehealth brands Freddie, Frida and Foria, was named Anchor of the Year. The category recognizes a flagship company that helps form the foundation other Alberta businesses build upon.
The honour follows another significant exit for the Calgary ecosystem. PurposeMed and Freddie were recently acquired by dating platform Grindr in a deal worth $250 million USD.
Co-founder and CEO Pete MacLeod used the occasion to make a case for capital efficiency. "You can build a real company in Alberta without burning through capital," he said in a statement, adding that he hopes more founders see they can pursue ambitious goals while keeping talent in the province.
Helcim Recognized as Scaleup of the Year
Helcim, a Calgary-based FinTech and payment processing platform, won Scaleup of the Year after more than doubling its headcount since 2021.
Last August, the company closed a $53 million CAD Series C round at a valuation of $250 million. At the time, it reported more than $150 million in annual recurring revenue.
What the Honours Signal for Alberta Founders
Taken together, the awards highlight a year in which Calgary produced exits on a scale rarely seen in the region, from a multibillion-dollar infrastructure deal to a nine-figure consumer health acquisition.
For founders weighing where to build, the recognition reinforces a message local leaders have been promoting: that companies can grow, attract major buyers and retain talent without leaving Alberta. Whether these exits translate into a new wave of reinvestment and startup formation in the province will be worth watching in the years ahead.
Source: BetaKit
