RideCo Ranked 49th Fastest Growing Company in North America in the 2023 Deloitte Technology Fast 500™

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Nov 08, 2023, 07:59 ET

LOS ANGELES, Nov. 8, 2023 /PRNewswire/ - RideCo, the most adopted cloud-based on-demand transit solution among the 10 largest cities in the United States, announced it has ranked 49th in the Deloitte Technology Fast 500™ program. Now in its 29^th year, the program ranks 500 of the fastest growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America. During this period, RideCo achieved 3,162% growth in revenue. In parallel, RideCo ranked the 4^th fastest growing company in Canada in the 2023 Deloitte Technology Fast 50^TM program.

RideCo's Co-Founder and CEO, Prem Gururajan, credits the dedicated and talented team at RideCo for building market leading on-demand transit software and delivering the industry's best customer service, as is evident by its 95% plus customer retention rate—both of which have contributed to the company's growth. Gururajan said, "We are proud to receive recognition in the Technology Fast 500 program and be supported by a growing list of loyal customers, including transit agencies, fleet operators, and technology companies, who are driving positive change in their communities. With the support of our skilled team at RideCo, we are collectively enhancing mobility for all through on-demand transit."

"Each year we look forward to reviewing the progress and innovations of our Technology Fast 500 winners. This year is especially celebratory as we expand the number of winners to better represent just how many companies are developing new ideas to progress our society and the world, especially during a slow economy," said Paul Silverglate, Vice Chair, Deloitte LLP and U.S. Technology Sector Leader. "While software and services and life sciences continue to dominate the top 10, we are encouraged to see other categories making their mark. Congratulations to all the winners who show us how creativity, hard work and perseverance can lead to success."

"As a growing company, it's always rewarding to be recognized for the ongoing commitment it takes to navigate obstacles, transform when necessary and ultimately create a thriving business," said Christie Simons, Partner, Deloitte & Touche LLP and industry leader for technology, media, and telecommunications within Deloitte's audit and assurance practice. "Over the nearly 30 years we've been compiling the Technology Fast 500, we've seen new categories emerge, growth rates explode, and certain regional markets shine from the bright talent they attract. We are proud of all the winners for achieving this well-deserved honor."

About the 2023 Deloitte Technology Fast 500 ™ Program

Now in its 29^th year, the Deloitte Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2019 to 2022.

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 US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.

About RideCo

RideCo is the leader in rider-centric on-demand transit technology, with the most adopted cloud-based paratransit and microtransit solution among the 10 largest cities in the United States. Trusted by agencies, as well as fleet operators and technology companies, the platform powers the largest on-demand transit services in North America including Los Angeles and Philadelphia. Houston and San Antonio have also adopted RideCo's transformative software, rooted in proprietary continuous optimization technology, and supported by the industry's best customer service, including a 95% plus retention rate.

From reducing overall travel time and encouraging sustainable public transit usage to improving operational efficiency and delivering the lowest total cost of ownership, RideCo's on-demand transit technology is advancing transit for riders and reshaping how transit agencies operate their services. To date, RideCo been awarded U.S. patent numbers 10,248,913; 10,853,743; and 11,429,910. Visit www.rideco.com to learn more about revolutionizing mobility in your city.

About Deloitte

Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world's most admired brands, including nearly 90% of the Fortune 500® and more than 8,500 U.S.-based private companies. At Deloitte, we strive to live our purpose of making an impact that matters by creating trust and confidence in a more equitable society. We leverage our unique blend of business acumen, command of technology, and strategic technology alliances to advise our clients across industries as they build their future. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Bringing more than 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte's approximately 457,000 people worldwide connect for impact at www.deloitte.com.

SOURCE RideCo Inc.