Zuora is proud to announce we are again on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America. Zuora grew 202 percent during this period.
“The rapid adoption of subscriptions by companies spanning every industry in the world is creating a once-in-a-century shift in business models that are growing much faster than some of the world’s top economic indexes,” said Tien Tzuo, CEO of Zuora. “Recognition by Deloitte two years in a row is a reflection of the tremendous accomplishments of our customers’ success in the Subscription Economy.”
Heather Gates, national managing director of Deloitte & Touche LLP’s emerging growth company practice said, “Emerging growth companies are powering innovation in the broader economy. The growth rates delivered by the companies on this year’s North America Technology Fast 500 ranking are a bright spot for the capital markets and a strong indicator that the emerging growth technology sector will continue to deliver a strong return on investment.”
We found similar evidence in the Zuora Subscription Economy® Index™ (SEI) found that SaaS companies grow subscription revenues faster than the average (25% vs 17%).
“The Deloitte 2017 North America Technology Fast 500 winners underscore the impact of technological innovation and world class customer service in driving growth, in a fiercely competitive environment,” said Sandra Shirai, vice chairman, Deloitte Consulting LLP and U.S. technology, media and telecommunications leader. “These companies are on the cutting edge and are transforming the way we do business. We extend our sincere congratulations to all the winners for achieving remarkable growth while delivering new services and experiences for their customers.”
About Deloitte’s 2017 Technology Fast 500™
Deloitte’s Technology Fast 500 provides 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 2013 to 2016.
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 $50,000 USD, and current-year operating revenues of at least $5 million USD. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
Overall, 2017 Technology Fast 500™ companies achieved revenue growth ranging from 135 percent to 59,093 percent from 2013 to 2016, with median growth of 380 percent.