Below we present the New Jersey companies that made the Technology Fast 500 list published by Deloitte LLP, a global professional services firm with U.S. headquarters in New York.
The Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies – both public and private – in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2011 to 2014, the company said in a statement.
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. Overall, 2015 Technology Fast 500 companies achieved revenue growth ranging from 109 percent to 21,984 percent from 2011 to 2014, with an average growth of 850 percent.
Companies must have base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years and be headquartered within North America.
Software continues to have the greatest impact across technology sectors, representing 57 percent of the entire list and three of the top 10 winners overall, according to a Deloitte statement. Of the private companies, 55 percent identified themselves in software as a service (SaaS), 37 percent in cloud computing, 37 percent in data analytics and 35 percent in mobile. Each year, since the creation of the ranking, software companies have made up the majority of winners, with an average growth rate of 667 percent this year, the company said.
This year there were fewer NJ companies on the list, as readers can see here.