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Deloitte 2018 Technology Fast 500 – 9% are Fintech

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 Rank

Company

Sector

Revenue Growth (2014 to 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/

pharmaceutical

14,694 percent

Madison, Wisconsin

9

Podium

Software

13,381 percent

Lehi, Utah

10

Markforged

Electronic devices/

hardware

12,687 percent

Watertown, Massachusetts

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 Area

14 percent

Justworks

2

Software 56 percent; Digital content/ media/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 23rd straight year 
Software companies continue to deliver the highest growth rates for the 23rd 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/

media/entertainment

12 percent

Remark Holdings Inc.

385 percent

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 21st 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.”

Oliver Smith

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