Deloitte Unveils 2022 North America Technology Fast 500 Rankings

The software and services industry category continues to lead the list, but the life sciences category is noteworthy which is growing in 28^th annual ranking of the fastest growing businesses

SAN FRANCISCO, November 16, 2022 /PRNewswire/ — Deloitte today released its “North America Technology Fast 500,” an annual ranking of the fastest-growing North American companies in the technology, media, telecommunications, life sciences, fintech, and energy technology sectors, now in his 28^th year.

Technology Fast 500 awards are selected based on fiscal year revenue growth percentage from 2018 to 2021. Overall, 2022 Technology Fast 500 companies experienced revenue growth from 241% to 125,138% over the three-year time frame, with a median growth rate of . 611%.

“As the past year has shown us, innovation in important areas such as life sciences is critical to addressing infectious diseases and other global health issues,” said Paul Silvergate, vice chairman, Deloitte LLP and a leader in the US technology sector. “Furthermore, technology must keep up with ever-changing consumer and corporate demands for faster, safer and more efficient solutions to new societal challenges. Every year I am inspired by the enormous talent that the Technology Fast 500 rankings reveal , affirming the winners’ relentless pursuit of creativity and their ability to solve real-world problems that benefit us all.”

The Top 10 of The Technology Fast 500 includes:

The California Bay Area leads the regional representation
Deloitte Technology Fast 500 winners represent more than 38 states and provinces across North America. California The Bay Area had a significant showing on this year’s list leading the regional representation with 20% of the Technology Fast 500 winners, 64% of which were from the software and services category. The Tri-State Area accounted for 12% of the winning companies; New England by 6%, with 62% of the region’s winners representing the new life sciences category; Washington, DC, Washington Stateand Texas responsible for 5% each of the winning companies.

The story continues

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

Software and services led the way for the 27th consecutive year
Software and services companies topped this year’s Technology Fast 500 list again, accounting for the majority of winners for the 27th consecutive year (61%). Of the software and services companies on the list, digital platforms made up the majority of winners (49%) while enterprise infrastructure and productivity followed with 30% of winners. Security (13%), consumer software (6%) and education (2%, and a new subsector category for this year), comprised the rest of the subsectors within software and services. Life sciences and fintech rounded out the top three industry categories with 19% and 9% of total winners, respectively.

Venture capital backing continued to be a winning strategy in the 2022 Technology Fast 500 ranking, with 84% of listed companies backed by venture capital or private equity financing at some point in their company history, up from 81% last year.

The Technology Fast 500 by industry sector:

“This year’s Technology Fast 500 list is a true reflection of some of today’s most determined and inspiring pioneers who have gone above and beyond, understanding what it takes to will succeed and drive creativity forward,” said Christie Simons, partner, Deloitte & Touche LLP and industry leader for technology, media and telecommunications within Deloitte’s audit and assurance practice. “Representing all aspects of technology, the winners demonstrated not only that they have the vision but that they can expertly manage their companies through rapid growth. We congratulate each winner on their remarkable achievements.”

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

About Deloitte
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SOURCE Deloitte