Deloitte Unveils 2018 North America Technology Fast 500(TM) Rankings
SAN FRANCISCO, Nov. 15, 2018 /PRNewswire/ -- Deloitte today released the "2018 North America Technology Fast 500," an annual ranking of the fastest-growing North American companies in technology, media, telecommunications, life sciences and energy tech sectors. SwanLeap claimed the top spot with a growth rate of 77,260 percent from 2014 to 2017.
SwanLeap, is a leading end-to-end transportation technology provider for logistics managers and supply chain decision-makers. Founded in 2013, SwanLeap uses artificial intelligence and machine learning to reduce costs for corporate shippers and improve their supply chain performance. Its new technology is helping clients secure an annual average transportation savings of 27 percent. SwanLeap is one of the two Madison, Wisconsin-based companies in the top 10 this year.
Awardees are selected for this honor based on percentage fiscal year revenue growth from 2014 to 2017. Overall, the 2018 Technology Fast 500 companies achieved revenue growth ranging from 143 percent to 77,260 percent over the three-year time frame, with a median growth rate of 412 percent.
"Congratulations to the Deloitte 2018 Technology Fast 500 winners on this impressive achievement," said Sandra Shirai, vice chairman, Deloitte LLP, and U.S. technology, media and telecommunications leader. "These companies are innovators who have converted their disruptive ideas into useful products, services and experiences that can captivate new customers and drive remarkable growth."
"It is both humbling and validating for SwanLeap to be listed as the No. 1 fastest-growing company on the Deloitte Fast 500," said Brad Hollister, CEO and co-founder of SwanLeap. "Our team has worked relentlessly to deliver unprecedented clarity and control to a fragmented shipping market through technology powered by artificial intelligence, curating cost-effective and personalized supply chain recommendations in real time. We are grateful to our employees and customers for making this achievement possible."
The Technology Fast 500's top 10 include:
2018
Company
Sector Revenue Growth (2014 to
Rank 2017)
City, State
---
1
SwanLeap
Software
77,260 percent
Madison, Wisconsin
---
2
Justworks
Software
27,150 percent
New York, New York
---
3
Shape Security
Software
23,576 percent
Mountain View, California
---
4
Periscope Data
Software
23,227 percent
San Francisco, California
---
5
Arrowhead Pharmaceuticals Inc. Biotechnology/ pharmaceutical
17,847 percent
Pasadena, California
---
6
Viveve Medical Inc.
Medical devices
16,887 percent
Englewood, Colorado
---
7
iLearningEngines
Software
14,848 percent
Bethesda, Maryland
---
8
Exact Sciences Corp.
Biotechnology/
14,694 percent
Madison, Wisconsin
pharmaceutical
---
9
Podium
Software
13,381 percent
Lehi, Utah
---
10
Markforged
Electronic devices/
12,687 percent
Watertown, Massachusetts
hardware
---
Silicon Valley has largest share of winners
Deloitte's Technology Fast 500 winners represent more than 38 states and provinces across North America.
California's Silicon Valley continues to produce fast-growing companies, leading regional representation with 18 percent of this year's Fast 500. The New York metro area also fared well with 14 percent of the companies; New England and Greater Washington, D.C., areas followed with 7 percent each, and Greater Los Angeles accounted for 6 percent. Following is a summary of the 2018 ranking by regions with a significant concentration of winners:
Location Percentage of List Fastest-Growing Company in the Region Overall Company Ranking Dominant Sectors in Location
---
Silicon Valley
18 percent
Shape Security 3
Software 77 percent
---
New York Metro
14 percent
Justworks 2 Software 56 percent; Digital content/ media/
Area entertainment 23 percent
---
New England
7 percent
Markforged 10
Software 40 percent; Biotechnology/
pharmaceuticals 29 percent; Medical devices 20
percent
---
Washington, D.C.
iLearningEngines 7
Software 75 percent
---
Greater Los
Angeles Area
6 percent
Arrowhead Pharmaceuticals Inc. 5
Software 65 percent
---
Software continues to dominate the list for the 23(rd) straight year
Software companies continue to deliver the highest growth rates for the 23(rd) straight year, representing 64 percent of the entire list and six of the top 10 winners overall. Of the private companies on the list, 34 percent identify themselves as part of the software as a service (SaaS) subsector, 17 percent in the enterprise software subsector, and 9 percent in fintech. Since the creation of the ranking, software companies have consistently made up the majority of winners, with a median growth rate of 412 percent in 2018.
Digital content, media and entertainment companies make up the second most prevalent sector in this year's rankings, accounting for 12 percent of the Fast 500 companies and achieving a median growth rate of 385 percent in 2018. Biotechnology/pharmaceutical companies rank third at 11 percent of the list with a median growth rate of 411 percent.
The Technology Fast 500 by industry sector:
Sector Percentage
Sector Leader Median Revenue Growth
(2014 to 2017)
---
Software
64 percent
SwanLeap
412 percent
---
Digital content/
12 percent
Remark Holdings Inc.
385 percent
media/entertainment
---
Biotechnology/ pharmaceutical
11 percent Arrowhead Pharmaceuticals Inc.
411 percent
---
Medical devices
5 percent
Viveve Medical Inc.
396 percent
---
Communications/ networking
3 percent
xG Technology Inc.
394 percent
---
Electronic devices/ hardware
3 percent
Markforged
410 percent
---
Semiconductor
1 percent
Aquantia Corp.
206 percent
---
Energy tech
1 percent
Momentum Solar
693 percent
---
Four out of five companies received venture backing
In the 2018 Fast 500 rankings, 80 percent of the companies were backed by venture capital at some point in their company history. Notably, 25 of the top 30 companies on the Technology Fast 500 in 2018 received venture funding.
"Software, which accounts for nearly two of every three companies on the list, continues to produce the most exciting technologies of the 21(st) century, including innovations in artificial intelligence, predictive analytics and robotics," said Mohana Dissanayake, partner, Deloitte & Touche LLP and industry leader for the technology, media and telecommunications industry, within Deloitte's audit and assurance practice. "This year's ranking demonstrates what is likely a national phenomenon, where many companies from all parts of America are transforming the way we do business by combining breakthrough research and development, entrepreneurship and rapid growth."
For additional details on the Technology Fast 500, including the complete list and qualifying criteria, visit www.fast500.com. Connect with us on Twitter: @DeloitteTMT; #Fast500.
About Deloitte
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world's most admired brands, including more than 85 percent of the Fortune 500 and more than 6,000 private and middle market companies. Our people work across more than 20 industry sectors to make an impact that matters -- delivering measurable and lasting results that help reinforce public trust in our capital markets, inspire clients to see challenges as opportunities to transform and thrive, and help lead the way toward a stronger economy and a healthy society. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them.
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