SAN FRANCISCO, Nov. 17, 2021 /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 tech
sectors, now in its 27th year.
Axonics, Inc. claimed the top spot with a growth rate of
87,037% from 2017 to 2020. Based in Irvine, Calif., Axonics (Nasdaq: AXNX) is a
global medical technology company focused on the development and
commercialization of novel therapies for patients with
incontinence. The Axonics® implantable rechargeable sacral
neuromodulation system provides patients suffering from overactive
bladder and/or fecal incontinence with long-lived, easy to use,
safe, and clinically effective therapy. Axonics' next-generation
urethral bulking agent, Bulkamid®, provides women suffering from
stress urinary incontinence with safe and durable symptom relief.
Axonics is one of six California-based companies ranked in the top
20 this year.
"Axonics is proud to be recognized as the fastest growing
company on the Deloitte Technology Fast 500 list," said
Raymond W. Cohen, chief executive
officer of Axonics. "The strong growth of Axonics is a testament to
the mission-driven culture of the company, the dedication of our
employees, and our commitment to innovation and developing
best-in-class incontinence solutions that improve the lives of
patients. We are grateful for the trust physicians, patients and
shareholders have placed in Axonics."
Technology Fast 500 awardees are selected based on percentage
fiscal year revenue growth from 2017 to 2020. Overall, the 2021
Technology Fast 500 companies achieved revenue growth ranging from
212% to 87,037% over the three-year time frame, with a median
growth rate of 521%.
"Each year the Technology Fast 500 shines a light on leading
innovators in technology and this year is no exception," said
Paul Silverglate, vice chair,
Deloitte LLP and U.S. technology sector leader. "In the face of
innumerable challenges resulting from the pandemic, the best and
brightest were able to pivot, reinvent and transform and grow. We
celebrate the winning organizations and especially the talented
employees driving their success."
The Technology Fast 500's top 10 include:
2021
Rank
|
Company
|
Sector
|
Revenue Growth
(2017 to 2020)
|
City,
State
|
1
|
Axonics,
Inc.
|
Medical
devices
|
87,037%
|
Irvine, CA
|
2
|
GetUpside
|
Software and
SaaS
|
60,259%
|
Washington,
DC
|
3
|
Attentive
|
Software and
SaaS
|
49,155%
|
Hoboken,
NJ
|
4
|
Shipwell
|
Software and
SaaS
|
32,670%
|
Austin, TX
|
5
|
Snapcommerce
|
Software and
SaaS
|
32,526%
|
Toronto,
ON
|
6
|
Coherus BioSciences,
Inc.
|
Biotechnology/pharmaceutical
|
30,480%
|
Redwood City,
CA
|
7
|
Drift
|
Software and
SaaS
|
29,400%
|
Boston, MA
|
8
|
Nufabrx
|
Biotechnology/pharmaceutical
|
22,957%
|
Conover,
NC
|
9
|
VirnetX Holding
Corp.
|
Software and
SaaS
|
19,463%
|
Zephyr Cove,
NV
|
10
|
Banyan
Software
|
Software and
SaaS
|
18,309%
|
Atlanta,
GA
|
Silicon Valley region home to most winners
The
Deloitte Technology Fast 500 winners represent more than 37 states
and provinces across North
America. California's
Silicon Valley continues to nurture fast-growing companies, leading
the regional representation with 21% of this year's Fast 500.
The New York metro area was
represented by 12% of the winning companies; New England by 8%;
Greater Los Angeles by 6%; and
Greater Washington, DC,
Washington State, and Texas accounted for 5% each of the winning
companies.
Below is a summary of the 2021 ranking by regions with a
significant concentration of winners:
Location
|
Percentage of
List
|
Fastest-Growing
Company in the Region
|
Overall Company
Ranking
|
Dominant Sectors
in Location &
Relevant %
|
Silicon
Valley
|
21%
|
Coherus BioSciences,
Inc.
|
6
|
Software
81%
|
New York Metro
Area
|
12%
|
Attentive
|
3
|
Software 77%;
Biotechnology/pharmaceutical 15%
|
New
England
|
8%
|
Drift
|
7
|
Software 54%;
Biotechnology/pharmaceutical 43%
|
Greater Los Angeles
Area
|
6%
|
Axonics,
Inc.
|
1
|
Software
81%
|
Greater Washington,
DC
|
5%
|
GetUpside
|
2
|
Software
85%
|
Washington
State
|
5%
|
Coinme
|
78
|
Software
83%
|
Texas
|
5%
|
Shipwell
|
4
|
Software
77%
|
Software industry shows impressive representation for
26th straight year
Software companies continue
to shine in the Technology Fast 500 listing, representing the
majority of the winners for the 26th straight year
(73%), beating last year's record-breaking percentage in the
history of the rankings. Of the software companies on the list,
enterprise infrastructure and productivity (26%), fintech companies
(19%), and digital platforms (18%) comprise the leading subsectors.
Since the creation of the rankings, software companies have
consistently made up the majority of the winners, with a median
growth rate of 520% in 2021.
Biotechnology/pharmaceutical companies make up the second most
prevalent sector in this year's rankings, accounting for 14% of the
Fast 500 companies and achieving a median growth rate of 642% in
2021. Electronic devices/hardware companies had a median growth
rate of 564% and digital content/media/entertainment had a median
growth rate of 455%.
The Technology Fast 500 by industry sector:
Sector
|
Percentage
|
Sector
Leader
|
Median Revenue
Growth
(2017 to 2020)
|
Software &
SaaS
|
73%
|
GetUpside
|
520%
|
Biotechnology/pharmaceutical
|
14%
|
Coherus BioSciences,
Inc.
|
642%
|
Electronic
devices/hardware
|
3%
|
Pela
|
564%
|
Digital
content/media/entertainment
|
3%
|
SolarLeadFactory
|
455%
|
Communications/networking
|
2%
|
Discord
|
440%
|
Energy
tech
|
2%
|
Enercross
|
750%
|
Medical
devices
|
2%
|
Axonics,
Inc.
|
357%
|
Semiconductor
|
1%
|
GaN
Systems
|
485%
|
Venture backing/private equity fuels majority of
winners
In the 2021 Fast 500 rankings, 81% of the companies
were backed by venture capital at some point in their company
history. Notably, 27 of the top 30 companies on the Technology Fast
500 in 2021 received venture funding or private equity in their
history.
"The pandemic has underscored the urgent need for tech solutions
in a variety of areas across health care, fintech, energy tech,
entertainment, to name a few, so reliance on innovators like the
winners of the Technology Fast 500 is more important than ever,"
said Christie Simons, partner,
Deloitte & Touche LLP and industry leader for technology, media
and telecommunications within Deloitte's audit & assurance
practice. "These companies are not only at the cutting edge,
transforming the way we do business, but most importantly,
recognize the strategic importance of ongoing innovation,
especially in the ever-changing world of technology."
For additional details on the Technology Fast 500, including the
complete 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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