RESEARCH TRIANGLE PARK – Nine North Carolina firms are part of the 2019 “Technology Fast 500” rankings from Deloitte with Raleigh-based Pendo leading the way.
Pendo, which is valued as a $1 billion-plus “unicorn” after its latest round of investor financing, comes in No. 26 on the list.
“North Carolina performed well on this year’s rankings, with three companies in the top 100 and another five on the list,” said John Giannuzzi, Carolinas Managing Partner for Deloitte. “That’s a great banner for our state and its emerging tech and biotech/pharma sectors.”
This is the second consecutive year that nine NC firms have made the list, which is its 25th year.
The other firms and their rank:
56. vTv Therapeutics Inc., High Point
66. Phononic, Inc., Durham
214. Passport Labs, Inc., Charlotte
303. SQLSentry, LLC, Charlotte
387. Lender Performance Group, LLC, Charlotte
396: Tresata, Inc., Charlotte
417: InMotion Now, Inc., Morrisville
483: AvidXchange, Charlotte
Rankings are based on financial data provided to Delotte, a major accounting and services firm.
Revenue growth for the nine companies dating back three years ranges from 1,934 percent to 4,304 percent, according to a representative for Deloitte.
“We’re fortunate to have natural assets that are helping these sectors thrive, such as strong presence of higher education, cooperative business climates and geographies and cultures that are attractive to a diverse workforce,” said Giannuzzi. “It will be key for policymakers and business leaders to continue maximizing these ingredients in a way that feeds these sectors and diversifies and fuels the economy statewide.”
Deloitte note that “revenue growth ranging from 166% to 37,458% over the three-year time frame, with a median growth rate of 439%.”
And the number of private companies included in the rankings is growing.
“Results also show a shift to more private companies making the list (76%) versus public companies (24%) — a 7% change from last year’s rankings.,” Deloitte notes.
“This year marks the 25th anniversary of Deloitte’s Technology Fast 500, so we are especially pleased to announce and congratulate the 2019 winners,” said Sandra Shirai, vice chairman, Deloitte LLP, and U.S. technology, media and telecommunications leader. “Once again, we saw innovation across the board, with software companies continuing their dominance of the top 10. It’s always inspiring to see how the Fast 500 companies are transforming business and the world we live and work in.