New York, NY, November 18, 2020.
NEW YORK--(BUSINESS WIRE)--Avanan today announced it ranked 171st on Deloitte's Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences and energy tech companies now in its 26th year.
Avanan's chief executive officer, Gil Friedrich, credits the recent rise in cloud security threats and Avanan’s instant-deployment model for the company’s industry-leading, 686% growth. He said, "We are pleased to be able to meet the market's needs with a product that delivers."
"For more than 25 years, we've been honoring companies that define the cutting edge and this year's Technology fast 500 list is proof positive that technology—from software and digital media platforms to biotech—truly does permeate so many facets of our lives," said Paul Silverglate, vice chairman, Deloitte LLP and U.S. technology sector leader. "We congratulate this year's winners, especially during a time when innovation is needed more than ever to address the monumental challenges posed by the pandemic."
"Each year the Technology Fast 500 listing validates how important technology innovation is to our daily lives. It was interesting to see this year that while software companies continued to dominate, biotech companies rose to the top of the winners list for the first time, demonstrating that new categories of innovation are accelerating in the pursuit of making life easier, safer and more productive," said Mohana Dissanayake, partner, Deloitte & Touche LLP, and industry leader for technology, media and telecommunications, within Deloitte's audit and assurance practice. "We extend sincere congratulations to these well-deserved winners—who all embody a spirit of curiosity, and a never-ending commitment to making technology advancements possible."
"We're honored to share this list with so many innovative companies," said Friedrich. "Our patented, API-based email security solution has led the way for years and this listing is another validation of the efficacy of this approach."
Overall, 2020 Technology Fast 500™ companies achieved revenue growth ranging from 175% to 106,508% from 2016 to 2019, with median growth of 450%.
About Deloitte's 2020 Technology Fast 500™
Now in its 26th year, Deloitte's Technology Fast 500 providers a ranking of the fastest-growing technology, media, telecommunications, life sciences and energy tech companies—both public and private—in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2016 to 2019.
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. Companies must have base-year operating revenues of at least $US 50,000, and current-year operating revenues of at least $US 5 million.