Deloitte Announces 2014 Technology Fast 500™ Rankings

SAN FRANCISCO, Nov. 13, 2014 /PRNewswire/ -- Deloitte today released the 2014 Technology Fast 500™, an annual ranking of the fastest growing North American companies in the technology, media, telecommunications, life sciences, and clean technology sectors. Awardees are selected for this honor based on percentage fiscal year revenue growth from 2009 to 2013. For the 19th consecutive year, the software sector has been the most visible on this list, with over 230 companies being from this space alone.

The top 10 ranked companies are as follows:

"We're excited for this list every year because it's such a great microcosm of the technology landscape in general," said Eric Openshaw, vice chairman, Deloitte LLP and U.S. technology leader for Deloitte's technology, media and entertainment and telecommunications industry practice in the Americas. "Some sectors – like software and Internet – have shown consistent growth over recent years. On the other hand, there are always a few surprises – previously under-represented sectors like clean technology have made considerable progress, while bio-tech continues to make up a large part of the list, which is in line with how strong this industry has been over the last year. Congratulations to all on the list on their continued excellence."

Software and Internet companies make up 64 percent of winners, have shown consistent growth
Software winners continued to dominate the list as the most prevalent sector, representing 48 percent of the entire list and six of the top 10 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 1,881 percent this year.

Internet companies make up the second most prevalent sector in this year's rankings, comprising 16 percent of the Technology Fast 500™; this sector has also shown tremendous growth over the years, growing at a rate of 1,153 percent. Biotechnology/pharmaceutical companies follow next with 47 companies representing this year's list and an average growth rate of 940 percent.  

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

Canada second only to Silicon Valley
Silicon Valley dominated the list from a regional perspective, housing 108 companies on the Technology Fast 500™ list. Canada came in second with 61 companies, followed by New England, District of Columbia, and Los Angeles. Approximately, 40 percent of the Technology Fast 500™ companies are from the West, with California once again as the standout with 164 companies on the list.

Furthermore, the Northeast saw an increase in Fast 500 companies, going from being home to 17 percent of the companies in 2013 to 22 percent in 2014. At the same time, the Southeast saw a decrease in company placement, falling from 19 percent in 2013 to 13 percent in 2014.

Majority of companies venture-backed at some point
In the 2014 rankings, 67 percent of the companies were backed by venture capital at some point.

"Investor confidence has been steadily rising in the in the North American region – especially since last year – which translates to an accelerated pace of growth for businesses across sectors," said Jim Atwell, partner, Deloitte & Touche LLP, and national managing partner of the emerging growth company practice. "Interestingly, even companies in sectors requiring more capital intensive spend – such as hardware and semiconductors – which are viewed as the least-favorable sectors by venture capitalists, are growing at rates more than 1,000 percent."

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.

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SOURCE Deloitte