Yes. Netflix cancelled it after two seasons because it was expensive to produce (due to its world-wide production locations) and did not have sufficient viewership to justify the cost. Fans came out in force to support the show and convinced Netflix to produce a series finale.
Continuum is produced by Reunion Pictures, Boy Meets Girl Film Company and GK-TV, in association with Shaw Media. As of 2013, Endemol has acquired the international distribution rights to the show and its future seasons.
The continuum concept is an idea, coined by Jean Liedloff in her 1975 book The Continuum Concept, that human beings have an innate set of expectations that our evolutionary process has designed us to meet (which Liedloff calls the continuum) in order to achieve optimal physical, mental, and emotional development and adaptability.