Deloitte Announces 2012 Technology Fast 500™ Rankings Tesla Motors, Inc. Zooms into First Place; Innovation "Hot Spots" Continue to Sizzle

SAN FRANCISCO, Nov. 14, 2012 /PRNewswire/ -- Deloitte announced the 2012 Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America.

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Tesla Motors, Inc. (NASDAQ: TSLA) clinched the top spot with fiscal year 2011 revenue of $204.24 million and a growth rate of 279,684 percent from 2007 to 2011. Based in Palo Alto, Calif., the company designs and manufactures electric vehicles and electric vehicle power train components.

"The 2012 Deloitte Technology Fast 500 winners have demonstrated remarkable innovation and spectacular growth," said Eric Openshaw, vice chairman and U.S. technology, media and telecommunications leader, Deloitte LLP.  "Some of the most exciting and useful developments of the future are being created by the companies on this list. We congratulate Tesla and all of the winning companies on this impressive achievement."

"Tesla took great strides as a company this past year by successfully delivering Model S, the world's first premium electric sedan to customers, and executing a steep production ramp while creating more than 2,000 jobs in the U.S. We also expanded our partnerships with Toyota and Daimler in order to increase sales of electric vehicles globally," said Deepak Ahuja, chief financial officer at Tesla Motors. "We are honored to be part of a sector that continues to achieve high growth, and are committed to building the best car in the world while setting new standards for efficiency, safety, style, technology, operating cost and performance. We thank Deloitte for this recognition."

The top ten ranked companies are as follows:

2012 Rank

Company

Sector

Revenue Growth

(2007 to 2011)

City, State

1

Tesla Motors, Inc.

Clean technology

279,684 percent

Palo Alto, CA

2

Palo Alto Networks

Communications/

Networking   

166,938 percent

Santa Clara, CA

3

Sagent Pharmaceuticals, Inc.

Biotechnology/

pharmaceutical

146,443 percent

Schaumburg, IL

4

FireEye, Inc.

Communications/

Networking

55,413 percent

Milpitas, CA

5

Aerohive Networks, Inc.

Communications/

Networking

44,569 percent

Sunnyvale, CA

6

Avail-TVN

Media and entertainment

38,479 percent

Reston, VA

7

NeoStem

Biotechnology/

pharmaceutical

31,721 percent

New York, NY

8

Avigilon Corporation

Software

29,917 percent

Vancouver, BC

9

Recondo Technology

Software

25,482 percent

Greenwood

Village, CO

10

EcoSynthetix Inc.

Clean technology

25,327 percent

Burlington, ON

Innovation hot spots continue to sizzle

Deloitte Technology Fast 500 winners hail from cities far and wide across North America - from Portland, Maine; to Denver, Colo.; to Vancouver, British Columbia. Of the dozens of cities represented on the list, some have a particularly strong track record of consistently attracting inventive entrepreneurs and providing them with a supportive environment.

"Creative and cutting-edge cities often have several things in common including access to capital, supportive local governments, and world-class education systems," said Bill Ribaudo, national technology, media and telecommunications leader for audit and enterprise risk services, Deloitte & Touche LLP. "Many of these cities have the resources and culture that startups need to thrive, and so they have become innovation powerhouses and consistently turn out fast-growing companies year over year."

Following is a list of innovative cities with a significant concentration of winners.

Location

Percent of List

Fastest-growing Company in the

Region

Company

Overall

Ranking

San Francisco Bay area

20 percent

Tesla Motors, Inc.

1

Boston

9 percent

HubSpot

17

New York

6 percent

NeoStem

7

Los Angeles

6 percent

EdgeCast Networks

13

Washington D.C.

6 percent

Avail-TVN

6

Philadelphia

6 percent

MeetMe, Inc.

32

San Diego

6 percent

Optimer Pharmaceuticals, Inc.

15

Toronto

5 percent

EcoSynthetix Inc.

10

Software still dominates

For the seventeenth consecutive year, software companies dominated the list, comprising 40 percent of the overall list with 200 companies.  Consistent with prior rankings, the biotechnology/pharmaceutical, internet, and communications/networking sectors also had strong showings.  The biotechnology/pharmaceutical sector and internet sectors were tied for second place with 13 percent of the list, and the communications/networking sector came in at a close third place with 12 percent of the list.

Sector rankings are as follows:

Sector

Sector make-up

of Fast 500

Fastest-growing Company in

the Sector

Company

Overall

Ranking

City, State

Software

40 percent

Avigilon

8

Vancouver, BC

Biotechnology/

Pharmaceutical

13 percent

Sagent Pharmaceuticals, Inc.

3

Schaumburg, IL

Internet

13 percent

EdgeCast Networks

13

Santa Monica, CA

Communications/Networking

12 percent

Palo Alto Networks

2

Santa Clara, CA

Clean Technology

7 percent

Tesla Motors, Inc.

1

Palo Alto, CA

Medical devices

5 percent

MAKO Surgical Corp.

18

Fort Lauderdale, FL

Media and entertainment

4 percent

Avail-TVN

6

Reston, VA

Semiconductor

3 percent

SiTime Corporation

38

Sunnyvale, CA

Computers/peripherals

2 percent

Layer 7 Technologies

183

Vancouver, BC

Scientific/technical instrumentation

1 percent

Obzerv

239

Quebec, QC

For additional detail on the Technology Fast 500 including the complete list and qualifying criteria, visit www.fast500.com

As used in this document, "Deloitte" means Deloitte LLP and its subsidiaries.  Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.  Certain services may not be available to attest clients under the rules and regulations of public accounting.

 

SOURCE Deloitte



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