Deloitte Unveils 2018 North America Technology Fast 500™ Rankings

Wisconsin logistics company using artificial intelligence claims top spot in annual ranking of fastest-growing companies

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Deloitte

Nov 15, 2018, 05:00 ET

SAN FRANCISCO, Nov. 15, 2018 /PRNewswire/ -- Deloitte today released the "2018 North America Technology Fast 500," an annual ranking of the fastest-growing North American companies in technology, media, telecommunications, life sciences and energy tech sectors. SwanLeap claimed the top spot with a growth rate of 77,260 percent from 2014 to 2017.

SwanLeap, is a leading end-to-end transportation technology provider for logistics managers and supply chain decision-makers. Founded in 2013, SwanLeap uses artificial intelligence and machine learning to reduce costs for corporate shippers and improve their supply chain performance. Its new technology is helping clients secure an annual average transportation savings of 27 percent. SwanLeap is one of the two Madison, Wisconsin-based companies in the top 10 this year.

Awardees are selected for this honor based on percentage fiscal year revenue growth from 2014 to 2017. Overall, the 2018 Technology Fast 500 companies achieved revenue growth ranging from 143 percent to 77,260 percent over the three-year time frame, with a median growth rate of 412 percent.

"Congratulations to the Deloitte 2018 Technology Fast 500 winners on this impressive achievement," said Sandra Shirai, vice chairman, Deloitte LLP, and U.S. technology, media and telecommunications leader. "These companies are innovators who have converted their disruptive ideas into useful products, services and experiences that can captivate new customers and drive remarkable growth."

"It is both humbling and validating for SwanLeap to be listed as the No. 1 fastest-growing company on the Deloitte Fast 500," said Brad Hollister, CEO and co-founder of SwanLeap. "Our team has worked relentlessly to deliver unprecedented clarity and control to a fragmented shipping market through technology powered by artificial intelligence, curating cost-effective and personalized supply chain recommendations in real time. We are grateful to our employees and customers for making this achievement possible."

The Technology Fast 500's top 10 include:

2018 Rank	Company	Sector	Revenue Growth (2014 to 2017)	City, State
1	SwanLeap	Software	77,260 percent	Madison, Wisconsin
2	Justworks	Software	27,150 percent	New York, New York
3	Shape Security	Software	23,576 percent	Mountain View, California
4	Periscope Data	Software	23,227 percent	San Francisco, California
5	Arrowhead Pharmaceuticals Inc.	Biotechnology/ pharmaceutical	17,847 percent	Pasadena, California
6	Viveve Medical Inc.	Medical devices	16,887 percent	Englewood, Colorado
7	iLearningEngines	Software	14,848 percent	Bethesda, Maryland
8	Exact Sciences Corp.	Biotechnology/ pharmaceutical	14,694 percent	Madison, Wisconsin
9	Podium	Software	13,381 percent	Lehi, Utah
10	Markforged	Electronic devices/ hardware	12,687 percent	Watertown, Massachusetts

Silicon Valley has largest share of winners
Deloitte's Technology Fast 500 winners represent more than 38 states and provinces across North America.

California's Silicon Valley continues to produce fast-growing companies, leading regional representation with 18 percent of this year's Fast 500. The New York metro area also fared well with 14 percent of the companies; New England and Greater Washington, D.C., areas followed with 7 percent each, and Greater Los Angeles accounted for 6 percent. Following is a summary of the 2018 ranking by regions with a significant concentration of winners:

Location	Percentage of List	Fastest-Growing Company in the Region	Overall Company Ranking	Dominant Sectors in Location
Silicon Valley	18 percent	Shape Security	3	Software 77 percent
New York Metro Area	14 percent	Justworks	2	Software 56 percent; Digital content/ media/entertainment 23 percent
New England	7 percent	Markforged	10	Software 40 percent; Biotechnology/ pharmaceuticals 29 percent; Medical devices 20 percent
Washington, D.C.	7 percent	iLearningEngines	7	Software 75 percent
Greater Los Angeles Area	6 percent	Arrowhead Pharmaceuticals Inc.	5	Software 65 percent

Software continues to dominate the list for the 23^rd straight year
Software companies continue to deliver the highest growth rates for the 23^rd straight year, representing 64 percent of the entire list and six of the top 10 winners overall. Of the private companies on the list, 34 percent identify themselves as part of the software as a service (SaaS) subsector, 17 percent in the enterprise software subsector, and 9 percent in fintech. Since the creation of the ranking, software companies have consistently made up the majority of winners, with a median growth rate of 412 percent in 2018.

Digital content, media and entertainment companies make up the second most prevalent sector in this year's rankings, accounting for 12 percent of the Fast 500 companies and achieving a median growth rate of 385 percent in 2018. Biotechnology/pharmaceutical companies rank third at 11 percent of the list with a median growth rate of 411 percent.

The Technology Fast 500 by industry sector:

Sector	Percentage	Sector Leader	Median Revenue Growth (2014 to 2017)
Software	64 percent	SwanLeap	412 percent
Digital content/ media/entertainment	12 percent	Remark Holdings Inc.	385 percent
Biotechnology/ pharmaceutical	11 percent	Arrowhead Pharmaceuticals Inc.	411 percent
Medical devices	5 percent	Viveve Medical Inc.	396 percent
Communications/ networking	3 percent	xG Technology Inc.	394 percent
Electronic devices/ hardware	3 percent	Markforged	410 percent
Semiconductor	1 percent	Aquantia Corp.	206 percent
Energy tech	1 percent	Momentum Solar	693 percent

Four out of five companies received venture backing
In the 2018 Fast 500 rankings, 80 percent of the companies were backed by venture capital at some point in their company history. Notably, 25 of the top 30 companies on the Technology Fast 500 in 2018 received venture funding.

"Software, which accounts for nearly two of every three companies on the list, continues to produce the most exciting technologies of the 21^st century, including innovations in artificial intelligence, predictive analytics and robotics," said Mohana Dissanayake, partner, Deloitte & Touche LLP and industry leader for the technology, media and telecommunications industry, within Deloitte's audit and assurance practice. "This year's ranking demonstrates what is likely a national phenomenon, where many companies from all parts of America are transforming the way we do business by combining breakthrough research and development, entrepreneurship and rapid growth."

For additional details on the Technology Fast 500, including the complete list and qualifying criteria, visit www.fast500.com. Connect with us on Twitter: @DeloitteTMT; #Fast500.

About Deloitte
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SOURCE Deloitte