An Israeli company is heading to the Canadian stock market: Pilat Group, active in employee assessment and evaluation, is preparing to list on the TSX Venture Exchange through a reverse merger in the first half of 2027.
Pilat plans to raise approximately CAD 6 million (about NIS 12.9 million at current exchange rates) at a pre-money valuation of CAD 42 million. It is expected to start being traded at a valuation of around CAD 52 million (approximately NIS 112 million), taking into account additional components of the deal.
Pilat is being advised by EXITEAM, an investment firm that guides Israeli technology companies toward listings in Canada, and which is itself undergoing a merger that will make it a public company on the Canadian exchange.
In 2025, Pilat recorded revenue of $6.3 million and EBITDA of $1.25 million. The company has developed an AI system for candidate assessment. According to Pilat, its technology operations generated revenue of $360,000 in 2025, with the number of users and candidates utilizing the system increasing more than fivefold. Results from the AI-based system-named EVA-were compared with assessments by a senior occupational psychologist, and a correlation of 0.89 was found between the evaluations. The system is used by organizations such as the IDF, Mizrahi Tefahot Bank, the Israel Electric Corporation, and Israel Post.
The listing for trading in Canada is a step the company is taking as part of its drive to expand its technological operations into international markets, with a particular focus on North America. Pilat says that it plans to extend the use of its technology beyond recruitment processes to include the assessment of existing employees, the identification of management potential, role suitability analysis, and more. The goal is to position Pilat as a provider of decision-making infrastructure spanning the entire employee lifecycle, rather than just the initial hiring stage. In doing so, Pilat leverages a vast database built up over its years of operation.
According to its website, Pilat was founded in 1974. Zohar Maimon serves is its chairperson and owner. Is client list includes banks, academic institutions, commercial companies, and government bodies.
The Canadian stock exchange has previously attracted a number of Israeli companies, primarily small firms listing on the TSX Venture Exchange (TSXV), a trading platform designed for early-stage and growth companies, as opposed to the main TSX exchange.
Published by Globes, Israel business news - en.globes.co.il - on October 14, 2026.
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