What Canalyst does

Canalyst (legal entity Canalyst Financial Modeling Corp.) is a Vancouver-headquartered financial data and analytics company founded in 2015 that provides standardized fundamental financial models for 4,000+ North American listed companies to institutional investors. The core product is a database of full company-specific Excel models covering every material KPI, built and maintained by a 100+ person in-house research team with multi-round human verification and software-based consistency checks. Distribution is delivered through multiple channels: a web portal for self-service access, an Excel Add-in that refreshes customized models in-place, a Python data science library (Candas) for programmatic and Jupyter-based workflows, and curated sector dashboards (Enterprise SaaS, Semiconductors, Banks, Cannabis, Restaurants) for rapid screening. Canalyst also produces IPO models within hours of S-1 filings and offers automated earnings updates that push latest-quarter data into client workbooks.

The company operates a pure SaaS model with annual subscription pricing of US$10,000-$20,000 per user, targeting enterprise investment managers, hedge funds, mutual funds, family offices, and corporate investor relations teams. By 2022 Canalyst served 400+ investment organizations globally, including eight of North America's top ten asset managers, with documented customer outcomes including 40% time savings on model-building tasks and the elimination of 5+ hours of manual work per company. The go-to-market is primarily enterprise field sales with demo-driven conversion, supplemented by content marketing, industry events (Roth Conference), podcast partnerships (Invest Like the Best), and webinars.

Canalyst was venture-backed, raising a $20M Series B in 2019 and a $70M Series C led by Dragoneer Investment Group in January 2022, with plans to double global headcount to support expansion. In August 2022 the company was acquired by Tegus, which was itself subsequently acquired by AlphaSense; the Canalyst brand continues to operate as part of the combined market intelligence platform.

Name

Canalyst

Legal name

Canalyst Financial Modeling Corp.

Website

https://canalyst.com

Company type

Private

Founded year

2015

Operating status

Acquired

Headcount range

101–250 employees

Short description

Canalyst provides standardized fundamental financial models and KPI data for 4,000+ North American listed companies, serving 400+ institutional investment managers globally through Excel, web portal, and Python delivery channels.

Ownership category

akta.pro rank

Product category

Financial Data and Analytics

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Services-Computer Processing & Data Preparation (7374)

akta.pro primary industry

Transaction Analytics & Cash-Flow Insights (risk signals, forecasting) (FSAGACAG)

Keywords

• Financial data analytics
• Fundamental equity models
• Investment research platform
• Public company data
• Equity research database

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Annual SaaS Subscriptions: Subscription-based access to the fundamental models database with annual pricing of $10,000-$20,000 per user annually. Revenue was reported as exceeding $5 million and doubling annually as of early 2020.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Canalyst provides a SaaS platform delivering 4,000+ fundamental financial models of North American listed companies, built and continuously updated by a 100+ person in-house research team. The platform is sold via annual subscriptions to institutional investors and is accessed through a web portal, an Excel add-in that preserves model customizations, and the Candas Python data science library for programmatic access. Standalone offerings include Canalyst Dashboards for sector screens, IPO Models, and Automatic Earnings Updates.

Differentiator

Problem solved

Functional benefit

Products and services

• Fundamental Models and Data The flagship SaaS platform providing 4,000+ fundamental financial models of North American listed companies, built and updated by a 100+ person in-house research team, delivered in a consistent structured Excel format. Used by institutional investment managers and asset managers for idea generation, financial modeling, valuation, and earnings analysis.
• Canalyst Dashboards Custom sector screens and dashboards enabling rapid peer and universe analysis across verticals such as Enterprise SaaS, Semiconductors, Banks, Restaurants, Cannabis, and Recent IPOs. Targeted at investment professionals who need pre-built comparative views across sector peers without building screens from scratch.
• IPO Models Fundamental financial models built within hours of S-1 filings for newly public companies, allowing investment professionals to evaluate IPO candidates quickly with the same standardized structure as the broader coverage universe. Used by analysts and portfolio managers covering recent IPOs.
• Automatic Earnings Updates Automated earnings update capability that refreshes Canalyst financial models with the latest quarterly earnings data, including through the Excel Add-in, eliminating manual model maintenance during earnings season. Used by investment analysts and portfolio managers who need models updated promptly after each earnings release.
• Canalyst Excel Add-in An Excel plugin that lets users pull updated Canalyst model data into their own customized Excel models without leaving Excel, preserving customizations and integrating Canalyst data into existing analyst workflows. Targeted at Excel-centric investment professionals.
• Candas Data Science Library A Python data science library (distributed via pip, JupyterHub, and GitHub) that allows quantitative users to access, manipulate, and visualize Canalyst models programmatically, including a scenario engine and KPI analysis, without opening Excel. Targeted at quantitative analysts and data science teams at investment firms.

Quantifiable outcome

• Saves approximately 5+ hours per company to build models
• +4 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

One partnership is on record.

• AlphaSensecoreStrategic or Co-development Partner · 2 August 2022Canalyst was acquired by AlphaSense in August 2022. Tegus is now part of AlphaSense. The acquisition combines Canalyst's fundamental models with AlphaSense's market intelligence platform.

Scale indicators8 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• AlphaSense: Market intelligence and search platform for enterprises and investors; Canalyst's parent company after the Tegus/AlphaSense acquisition. Comparable as an institutional research workflow platform serving the same buyside and corporate buyer base.
• FactSet: Enterprise financial data and analytics platform serving asset managers, banks, and corporates with fundamentals, estimates, and modeling tools. Comparable as a broader incumbent that Canalyst explicitly positions against in client case studies.
• S&P Capital IQ Pro: S&P Global's financial data, modeling, and screening platform for investment professionals. Overlapping fundamentals and screening coverage with Canalyst's Excel-based model universe, sold into the same institutional buyer base.
• Bloomberg Terminal: Dominant enterprise financial data terminal used by the same asset manager and hedge fund clients Canalyst serves. The primary incumbent Canalyst's clients cite seeking to reduce dependency on.

Direct peers

• Tegus: Primary research database for buy-side investors, providing expert transcripts and qualitative research; acquired Canalyst in August 2022. Both products target institutional investors with curated, analyst-built research content aimed at accelerating the investment workflow.
• Visible Alpha: Provider of consensus financial data, KPI tracking, and fundamental models for listed companies to institutional investors. Direct competitor to Canalyst's 4,000+ model library with similar sell-side-to-buyside distribution motion.
• Sentieo (now AlphaSense): AI-powered research and financial data platform for investors that merged into AlphaSense. Historically a direct peer offering document search, fundamentals, and analyst workflow tools to buyside customers.

Emerging players

• Wall Street Horizon: Provider of corporate event data, earnings dates, and financial datasets to institutional investors. Comparable as a niche data vendor selling fundamental and event-driven information into the same buy-side research workflow.
• YipitData: Alternative and fundamental data provider for institutional investors covering consumer, e-commerce, and public-company KPIs. Comparable as a research-team-driven data vendor serving hedge funds and asset managers.
• Atom Finance: Investment research platform offering fundamental data, screeners, and analyst workflow tools to investors. Comparable as a modern, technology-led entrant targeting the same institutional and sophisticated retail research workflow Canalyst serves.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/CanalystModels
• GitHubgithub.com/canalyst-candas/canalyst-candas
• LinkedInlinkedin.com/company/canalyst
• Facebookfacebook.com/CanalystModels

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds4 records

Investors11 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Canalyst