This week, Deloitte released its annual Technology Fast 500, a ranking of the fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America. Companies are selected based on percentage fiscal year revenue growth from 2011 to 2014 and can be public or private.
In Chicago, 7 companies made the list.
- Signal: #11. The leader in cross-channel marketing technology, Signal (formerly BrightTag), has grown a whopping 5,241% since 2011.
- Sprout Social: #21. The provider of social media management tools and software has grown 3,966%.
- ContextMedia: #175. A health information services company, ContextMedia brings accessible, digital healthcare content into waiting rooms. The company has grown 453%.
- SMS Assist: #259. SMS Assist helps multisite businesses manage their properties and has grown 282%.
- Rise Interactive: #265. The digital marketing agency specializing in web analytics and traffic generation and has grown 273%.
- Valence Health: #284. The provider of clinical integration, population health and value-based care solutions and services has grown 246%. This is the second time Valence has been on this list and the company’s revenues have grown at more than 50% each year.
- Gogo: #404. The leading provider of in-flight internet has grown 155% in the past four years.
Added Valence Health’s CEO R. Andrew Eckert, “Countless hospitals and health systems across the country are evaluating new value-based models of care. We’re honored that they continue to value our solutions and expertise built over 20 years of operations.”
Looking at the entire list, 57 percent of Fast 500 are software companies, including three of the top 10 winners overall, StartApp (#1), The Trade Desk (#7) and App Annie (#10). New York-based StartApp is a mobile ad network that specializes in Android app monetization. Also, 64 percent of the names on the list are venture-backed and the average growth per company is 850 percent.
Region-wise, 20 percent of the companies are headquartered in Silicon Valley, 14 percent are from New York, seven percent are from New England, and 6 percent are L.A-based. Outside of software, the digital content/media/entertainment category was second with 15 percent and biotech/pharmaceutical came in at third with 13 percent.
Explained Sandra Shirai, principal with Deloitte, in a statement, “Amid a fierce business climate, there seems to be no shortage of new and established companies that are unlocking a seemingly unlimited potential for growth and advancement through technology’s continued disruption and proliferation across industries.”
On top of revenue growth, Fast 500 companies must have its own proprietary intellectual property or technology and record current-year operating revenues of at least $5 million. In order to be recognized, companies must also be in business for a minimum of four year and be headquartered in North America.
(Image via Deloitte and Valence Health)