mFoundry Ranked Number 105th Fastest Growing Company in North America on Deloitte's 2011 Technology Fast 500™

SAN FRANCISCO, Oct. 20, 2011 /PRNewswire/ -- mFoundry, the fastest-growing provider of mobile banking solutions in the U.S., today announced it ranked 105 on Deloitte's Technology Fast 500™ ranking of the 500 fastest-growing technology, media, telecommunications, life sciences and clean technology companies in North America. mFoundry grew 985% percent during this period and is the only provider of mobile banking solutions to make the list.

mFoundry's co-founder and CEO, Drew Sievers, credits the sophistication of the company's SaaS (software-as-a-service) mobile banking platform, its track record of fast deployments, and its extensive network of financial technology partners with the company's 985% revenue growth.

"Being named the 105th fastest-growing technology company in the U.S. is great recognition of the hard work our team has done this past year," said Sievers. "We see tremendous opportunity to build on this momentum in the coming year, as more and more financial institutions look to deploy mobile solutions for their customers and members."

"mFoundry, like all 2011 Technology Fast 500™ companies, has excelled in fostering innovation and channeling it into spectacular growth – against the backdrop of one of the most challenging economies in history," said Eric Openshaw, Vice Chairman and U.S. Technology, Media and Telecommunications Leader, Deloitte LLP. "Deloitte recognizes mFoundry for its remarkable accomplishment."

Overall, 2011 Technology Fast 500™ companies achieved revenue growth ranging from 134 percent to 70,211 percent from 2006, with an average growth of 1,736 percent.

To see the complete 2011 Technology Fast 500™ list, please visit Deloitte's website here.

About mFoundry

mFoundry is most popular mobile banking solution in the U.S., currently the choice of more than 500 banks and credit unions nationwide. mFoundry's mBanking product is the leading software-as-a-service (SaaS) based mobile banking solution in the market today. mFoundry's mobile banking customers include leading financial institutions, such as Bank of America, PNC Bank and Zions Bank.

In addition to its mobile banking experience, mFoundry has established itself as a leader in mobile payments, through its work with retailers like Starbucks Coffee Company. mFoundry developed and manages Starbucks Card Mobile program, the most successful mobile payments program to date, currently used in more than 6,800 stores nationwide.

mFoundry was founded in 2004 by Drew Sievers and Rodney Aiglstorfer.

The company is headquartered in Larkspur, California, with additional offices in downtown San Francisco. For more information on mFoundry, please visit http://www.mfoundry.com.

About Deloitte's 2011 Technology Fast 500

Technology Fast 500, which was conducted by Deloitte & Touche LLP, a subsidiary of Deloitte LLP, provides a ranking of the fastest-growing technology, media, telecommunications, life sciences and clean technology companies – both public and private – in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2006 to 2010.

In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.

SOURCE mFoundry