Deloitte Announces 2022 North America Technology Fast 500 Rankings

The software and services industry category continues to dominate the list, but the growing life sciences category puts in an impressive performance in 28th annual ranking of the fastest growing companies

SAN FRANCISCO, November 16, 2022 /PRNewswire/ — Deloitte today released its North America Technology Fast 500, an annual ranking of North America’s fastest-growing technology, media, telecom, life sciences, fintech and energy technology companies, now in its 28th yearth Year.

Technology Fast 500 honorees are selected based on percentage revenue growth over the fiscal year 2018-2021. Overall, the Technology Fast 500 companies achieved revenue growth of 241% to 125,138% over the three-year period in 2022, with a median growth rate of 611%.

“As the past year has shown us, innovation in key areas such as life sciences is critical to addressing infectious diseases and other global health problems,” he said Paul Silverglatte, Vice Chairman, Deloitte LLP and Head of US Technology Sector. “Moreover, technology must keep up with the ever-changing demands of consumers and businesses for faster, safer and more efficient solutions to new societal challenges. relentless pursuit of creativity and its ability to solve real-world problems that benefit us all.”

The top 10 of the Technology Fast 500 include:

2022
rank

company

sector

sales growth

(2018 to 2021)

city-state

1

Vir Biotechnology, Inc.

life sciences

125.138%

San Francisco, California

2

Takeoff Technologies, Inc.

Software and Services

53,250%

Waltham, Mass.

3

axonius

Software and Services

46,270%

New York, NY

4

Axonics, Inc.

life sciences

25,401%

Irvine, California.

5

VAST data

Software and Services

14.985%

New York, NY

6

modern

life sciences

13.575%

Cambridge, Mass.

7

herd safety

Software and Services

13.117%

Atlanta, GA.

8th

Corvus Insurance

fintech

12.394%

Boston, Mass.

9

fluid truck

Energy and sustainability technology

9.899%

Denver, Colo.

10

Vontive

fintech

9.154%

Seattle, Washington.

The California Bay Area leads the regional representation
Deloitte Technology Fast 500 winners represent more than 38 states and provinces North America. California’s Bay Area had an impressive performance in this year’s list, leading regional representation with 20% of the Technology Fast 500 winners, 64% of which came from the Software and Services category. The Tri-State Area was represented by 12% of the winning companies; New England up 6%, with 62% of the region’s winners representing the new Life Sciences category; Greater Washington, DC, Washingtonand Texas each accounted for 5% of the winning companies.

Below is a summary of the 2022 ranking by region with a significant concentration of winners:

location

percentage of the list

Fastest growing company

in the region

entire company
ranking

Dominate sectors

in place

bay area

20%

Vir Biotechnology, Inc.

1

Software 64%

Tri-State Territory

12%

axonius

3

Software 66%

New England

6%

Takeoff Technologies, Inc.

2

Life Sciences 62%

Greater Washington, DC

5%

On the top

88

Software 71%

Washington

5%

Vontive

10

Software 62%

Texas

5%

OJO Labs

93

Software 86%

Software and services dominated for the 27th year in a row
Software and services companies again topped this year’s Technology Fast 500 list, accounting for the majority of winners (61%) for the 27th consecutive year. Of the software and services companies on the list, digital platforms made up the majority of winners (49%), followed by enterprise infrastructure and productivity with 30% of winners. Security (13%), consumer software (6%) and education (2% and a new subsector category for this year) comprised the remaining subsectors within software and services. Life Sciences and Fintech rounded out the top 3 industry categories with 19% and 9% of overall winners, respectively.

Venture capital funding continued to be a winning strategy in the 2022 Technology Fast 500 ranking, with 84% of listed companies having received venture capital or private equity funding at some point in their corporate history, up from 81% a year earlier.

The Technology Fast 500 by industry:

sector

percentage

industry leader

Medium sales growth
(2018 to 2021)

Software and Services

61%

Takeoff Technologies, Inc. (#2)

611%

life sciences

19%

Vir Biotechnology, Inc. (#1)

613%

fintech

9%

Corvus Insurance (#8)

611%

Digital Content/Media/Entertainment

4%

Prize Picks (#48)

557%

hardware and semiconductors

4%

Syntian Corp. (#46)

563%

Energy and sustainability technology

2%

Liquid Truck (#9)

745%

communication/networking

1 %

Discord (#77)

590%

“This year’s Technology Fast 500 list reflects some of today’s most determined and inspiring pioneers who have succeeded by anticipating what’s coming next, understanding what it takes to succeed and driving creativity,” he said Christie Simons, Partner, Deloitte & Touche LLP and industry leader in technology, media and telecom within Deloitte’s audit and assurance practice. “Representing all facets of technology, the winners have proven that they not only have the vision, but also the skill to lead their businesses through rapid growth. We congratulate each winner on their impressive achievements.”

For more details on the Technology Fast 500, including the full list and eligibility criteria, visit www.fast500.com. Connect with us on Twitter: @DeloitteTMT; #Fast500 or on LinkedIn at: @PaulSilverglate; @ChristieSimons.

About Deloitte
Deloitte provides industry-leading assurance, advisory, tax and advisory services to many of the world’s most admired brands, including nearly 90% of the Fortune 500® and more than 7,000 private companies. Coming together for the common good, our people work in the industries that drive and shape today’s marketplace – delivering measurable and enduring results that help build public confidence in our capital markets, inspire clients to embrace challenges rather than opportunities to see transformation and success, and help lead the way to a stronger economy and a healthier society. Deloitte is proud to be part of the largest global professional services network, serving our clients in the markets most important to them. Building on more than 175 years of service, our network of member firms spans more than 150 countries and territories. Visit www.deloitte.com to learn how Deloitte’s approximately 415,000 employees around the world are uniting to make a difference.

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SOURCE Deloitte



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