Deloitte Announces 2013 Technology Fast 500™ Rankings

Software, Biotechnology and Internet Companies Lead the List

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Nov 13, 2013, 05:00 ET

SAN FRANCISCO, Nov. 13, 2013 /PRNewswire/ -- Deloitte today released the 2013 Technology Fast 500™, an annual ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Award winners were selected based on percentage fiscal year revenue growth from 2008 to 2012. For the eighteenth consecutive year, there are more software companies on the Technology Fast 500™ than any other single sector.

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"We congratulate the 2013 Deloitte Technology Fast 500 winners on their continued innovation and growth," said Eric Openshaw, vice chairman, Deloitte LLP and U.S. Technology leader for Deloitte's Technology, Media & Entertainment and Telecommunications industry practice in the Americas. "The software sector continues its strong growth, making up the majority of this year's ranking, but we are starting to see sectors like Internet grow in the Fast 500 ranking to match that of mainstays like biotech and pharma."

The top ten ranked companies are as follows:

2013 Rank	Company	Sector	Revenue Growth (2008 to 2012)	City, State
1	Rocket Fuel	Software	208,897 percent	Redwood City, CA
2	Acquia	Software	84,171 percent	Burlington, MA
3	MeetMe, Inc.	Internet	83,209 percent	New Hope, PA
4	Fusion-io, Inc.	Semiconductor	55,355 percent	Salt Lake City, UT
5	OpenX	Software	44,076 percent	Pasadena, CA
6	FireEye	Communications/ Networking	36,667 percent	Milpitas, CA
7	HeartWare Inc.	Medical Devices	33,310 percent	Framingham, MA
8	Boston Heart Diagnostics	Biotech/Pharma	32,031 percent	Framingham, MA
9	MaxPoint	Internet	31,723 percent	Morrisville, NC
10	BioDelivery Sciences International, Inc.	Biotech/Pharma	20,639 percent	Raleigh, NC

Software, Biotech and Internet Companies Make up 72 Percent of Winners

Software winners continued to grow in 2013 as the most prevalent sector, representing 48 percent of the entire list and three of the top ten winners overall. Each year since the creation of the ranking, software companies have made up the majority of winners, with an average growth rate of 2,503 percent this year.

"New technologies like cloud and software as a service (SaaS) are at the forefront of the exponential growth we are seeing in software companies," added Openshaw. "The growth is beyond revenue, with SaaS and cloud technologies allowing software companies to pop up in locations outside of your major tech hubs with workers no longer tethered to a physical workplace. As these technologies become more widely adopted, we expect that other technology sectors will begin to embrace them and that will be reflected in the ranking."

Biotechnology/pharmaceutical and Internet are the second most prevalent sectors in this year's rankings, each comprising 12 percent of the Technology Fast 500™. The 60 biotech/pharma companies on the list had an average growth rate of 2,717 percent, while Internet companies had an average growth rate of 3,370 percent. The impressive average growth rate of biotech/pharma and Internet is demonstrated by having two biotech/pharma companies and one Internet company in the top 10 of the ranking. The biotech/pharma companies are Boston Heart Diagnostics (ranked eighth) and BioDelivery Sciences International, Inc. (ranked tenth) and the internet company is MeetMe, Inc. (ranked third).

The percentage of companies from industry sectors are represented on the Technology Fast 500™ as follows:

Sector	Percentage	Sector Leader	Revenue Growth (2008 to 2012)
Software	48 percent	Rocket Fuel	208,897 percent
Biotech/Pharma	12 percent	Boston Heart Diagnostics	32,031 percent
Internet	12 percent	MeetMe, Inc.	83,209 percent
Communications/Networking	9 percent	FireEye	36,667 percent
Clean Tech	5 percent	Enphase Energy, Inc	12,890 percent
Medical Devices	5 percent	HeartWare Inc.	33,310 percent
Media and Entertainment	4 percent	Kabam	11,883 percent
Semiconductors	3 percent	Fusion-io, Inc.	55,355 percent
Computers/Peripherals	1 percent	Amped Wireless	12,676 percent
Scientific/Technical Instrumentation	1 percent	Fluidigm Corporation	241 percent

Majority of Private Companies Venture-backed

The 2013 ranking had the highest number of private company winners ever, making up 59 percent of the list. Nearly two thirds — 63 percent — of the winners are private companies that have received venture capital funding in their history.

"We are in the midst of the hottest IPO market since 2007, and the fastest growing sectors for IPOs remain IT industries like the cloud, enterprise software, Internet and healthcare IT and corresponding services," said James Atwell, partner, Deloitte & Touche LLP, and national managing partner of Deloitte's Emerging Growth Company Practice.

From a regional perspective, the Northeast saw a decrease in Fast 500 companies dropping from 26 percent in 2012 to 17 percent in 2013. At the same time the Southeast saw an increase in company placements increasing from 12 percent in 2012 to 19 percent in 2013. Approximately 41 percent of the Technology Fast 500 companies are from the West, with California once again as the standout with 166 companies on the list.

For more information about the Technology Fast 500™ including the complete list and qualifying criteria visit: www.fast500.com. Connect with us on Twitter: @DeloitteTMT; #Fast500.

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