Mike Murchison is the CEO and Co-founder of Ada, a venture-back AI-powered platform that enables hundreds of businesses around the world to meet the needs of today’s customers with thoughtful personalized interactions proven to enhance long-term value and boost the bottom line.
A proud University of Toronto graduate, marathon runner and Raptors fan, Mike has been recognized by Forbes 30 Under 30 and EY’s Entrepreneur of the Year program. He is a Fellow at Creative Destruction Lab and a volunteer for VentureKids, a program providing Canada’s underserved youth with access to entrepreneurial education.
Before Ada, Mike answered tens of thousands of customer service inquiries manually firsthand. Using this experience, he set out to build Ada’s platform that puts the benefits of AI into the hands of non-technical support teams to build, manage, and track ROI-driving automated customer experiences. Ada’s no-code, AI chatbot is the new front line of customer experience, empowering businesses to provide personalized experiences at scale.
Ada experienced tremendous growth in 2021 and closed a $130 million Series C round led by Spark Capital. This brings Ada’s total funding to $200M with a valuation of $1.2B, officially earning a rare Canadian Unicorn status. The company ranked 15 on Deloitte’s Technology Fast 500, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences and energy tech companies in North America, as well as ranking 3 on Deloitte’s Technology Fast 50, Canada’s preeminent technology awards program. Locally, the Canadian Innovation Exchange named Ada as a Top 10 Growth Company, and the company placed number 19 of 448 on the Globe and Mail’s 2021 business ranking of Canada’s Top Growing Companies. The company was also named to the lists of Best Workplaces in Ontario and Best Workplaces for Inclusion and Mental Wellness 2021.
Canada’s tech landscape is buzzing with venture financing and a record number of unicorns popping up. Here from inside Canada growing stable of unicorns: how they got there, critical lessons learned, new challenges and practical perspectives to help fellow SaaS leaders bust into the unicorn stable.