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Monday, November 13, 2017

Deloitte honors fastest growing tech companies

A number of companies with links to the payments industry earned Deloitte 2017 Technology Fast 500 awards. The 23rd annual list honored 500 companies headquartered in North America. Selection was based on technology innovation, entrepreneurship and rapid growth. Companies with base-year operating revenues of $50,000 stemming from proprietary product sales in eight categories, and $5 million for the current year, were ranked on percentage growth during the 2013 through 2016 period.

Toast tops in payments

Boston-based Toast, an all-in-one restaurant technology platform launched in 2013, earned the top spot among payments industry players, ranking third with growth of 31,250 percent. "Our team is thrilled to be recognized as one of the fastest growing companies in the U.S. and will continue to deliver on our promise to be obsessed with customer success," said Chris Comparato, Chief Executive Officer of Toast.

Other Deloitte award winners focused on retail and enterprise offerings included the following, in order of ranking:

  • 121 ‒ Kabbage Inc. (978 percent growth)
  • 138 ‒ Koupon Media (809 percent)
  • 155 ‒ ShopKeep (702 percent)
  • 164 ‒ Shopify (675 percent)
  • 170 ‒ App Annie Inc. (630 percent)
  • 172 ‒ TouchBistro Inc. (619 percent)
  • 194 ‒ MobileCause (542 percent)
  • 209 ‒ Foursquare (491 percent)
  • 216 ‒ Buyatab Online Inc. (451 percent)
  • 227 ‒ Movable Inc. (434 percent)
  • 311 ‒ AvidXchange (268 percent)
  • 383 ‒ Square Inc. (209 percent)
  • 398 ‒ Zuora Inc. (202 percent)
  • 399 ‒ Payoneer Inc. (200 percent)
  • 418 ‒ Net Element Inc. (190 percent)
  • 424 ‒ MindBody Inc. (186 percent)
  • 433 ‒ Parkmobile LLC (171 percent)
  • 455 ‒ Q2 Software Inc. (164 percent)
  • 489 ‒ FactorTrust (144 percent)
  • 497 ‒ Yapstone Inc. (139 percent)

About his company being honored for the second time, ShopKeep CEO Michael DeSimone said, "As the operating environment for businesses continues to be reshaped by fast-paced advances in technology, SMB merchants must be in position to evolve in order to meet the expectations of their customers, help them grow, and be successful. We remain committed to equipping our customers with the sophisticated business management capabilities and insights they need to compete in the modern business landscape."

TouchBistro CEO Alex Barrotti credits the company's ongoing commitment to restaurant technical innovation through development of its innovative app. "The solution we have developed and continue to enhance effectively works as the hub of a restaurant's operations, improves the customer experience, and increases table turns," he said.

Net Element CEO Oleg Firer credits the company's progression to organic growth in its North America Transactions Segment, specifically the success of its Unified Payments brand, which focuses on value-added payment acceptance solutions for small to midsize businesses (SMBs) in the United States.

Security companies score big

Security companies such as password and online identity management firm Dashlane Inc. and Knowbe4 also gained recognition. Here are the top five:

  • 65 ‒ Dashlane (2,484 percent growth)
  • 70 ‒ Knowbe4 (2,258 percent)
  • 72 ‒ Payfone Inc., 72 (2,153 percent)
  • 111 – Malwarebytes (1,204 percent)
  • 267 ‒ FireEye Inc. (342 percent).

"The relentless push by cyber criminals and the potential harm from ransomware, phishing attacks, CEO fraud, and other forms of social engineering can be substantial, costing billions of dollars," said Stu Sjouwerman, CEO of security awareness training provider KnowBe4. "CISOs and IT managers recognize the effectiveness of the KnowBe4 platform to help them reduce human error and reduce their social engineering attack surface."

Mobile and digital authentication provider Payfone Chief Financial Officer Tom FitzSimmons said that being recognized is validation of the "team's hard work and passion for building a new paradigm for identity authentication -- one that allows enterprises to protect their users while also delivering the best possible user experience."

In tabulating the winners, Deloitte noted that software companies dominated, with 293 software companies making the grade this year. Among the companies listed, 66 percent were privately held, with 17 of the top 20 being private; 34 percent were public entities. According to Deloitte, 70 percent of the companies listed have received venture capital and/or private equity funding at some point. end of article

Editor's Note:

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