Softheon Ranked 23rd Fastest Growing Company in North America on Deloitte's 2018 Technology Fast 500™

Tech Company attributes 4,904% Percent Revenue Growth to constantly evolving healthcare technology solutions

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Nov 16, 2018, 16:20 ET

STONY BROOK, N.Y., Nov. 16, 2018 /PRNewswire/ -- Softheon, a leader in cloud-based health insurance exchange integration and services, today announced it ranked 23^rd on Deloitte's Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America. Softheon grew 4,904% percent over the last 3 years.

"We are honored to be included in the top 10% of Deloitte's Fast 500 list," said Eugene Sayan, CEO & Founder of Softheon. "It's a privilege to be included with so many industry disrupters and a true testament to Softheon's innovation and our team's dedication to making healthcare affordable, accessible, and plentiful across the country."

Over the last 3 years, Softheon's team has grown from about 40 members to 150. Sayan credits this growth to Softheon's unique ability to constantly evolve and solve tomorrow's problems before they become today's headaches. Out of the top 30 companies included on the list, Softheon is one of only 5 that have not received venture funding.

"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 products, services and experiences that can captivate new customers and drive remarkable growth."

Of the 500 companies included on this year's list, 54% are privately owned and 64% are in the software industry, both characteristics of Softheon. This year software companies contributed to a median growth rate of 412% over 3 years.

"Software, which accounts for nearly two of every three companies on the list, continues to produce some of 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 technology, media and telecommunications, within Deloitte's audit and assurance practice.

About Deloitte's 2018 Technology Fast 500™

Deloitte's Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences 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 2014 to 2017.

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

About Softheon

Since its founding in 2000, Softheon's mission has been to make healthcare affordable, accessible and plentiful for individuals, employers, and government agencies across America. As an Affordable Care Act Market of Record, Softheon is trusted by 33% of carriers to serve over 37% of ACA members in their journey to find health coverage. As a NIST 800-53, PCI DSS, HITRUST-compliant cloud, Softheon is an Agent, Broker, and Merchant of Record for health insurance marketplaces. Softheon has been consistently recognized as a leading SaaS, BPaaS, and PaaS by Gartner, IDC, AHIP, ACAP, and HCEG.

In 2018, Softheon was ranked the 23^rd fastest growing company in the United States on Deloitte's Technology Fast 500.

About Deloitte

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ("DTTL"), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as "Deloitte Global") does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the "Deloitte" name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.

SOURCE Softheon