Eight Vancouver technology companies made Deloitte's latest revenue growth ranking
In the tech sector, five years of revenue growth—never mind existence—is an achievement. Now imagine that revenue is over 500 times higher than it was five years ago. You've got yourself a private-sector prodigy. B.C., it turns out, has a handful of them.
In fact, eight Vancouver area companies ranked on Deloitte's 2014 Fast 50 list, which ranks Canada's fastest growing technology companies by revenue growth over a five year period. Hootsuite placed (unsurprisingly) second on Deloitte's list, posting a 56,514 per cent growth in revenues between 2009 and 2014. In other words, its revenue is 565 times higher than it was in 2009.
For context, if a company (let's say Hootsuite) posted revenues of $100,000 back in 2009, then it would have raked in $56 million according to Deloitte's figures. Hootsuite, which joined the annual ranking for the first time this year, only recently crossed the five-year qualifying threshold: it was founded in 2008.
Seven other B.C.-based tech companies made the list, including:
- 5th: QuickMobile, a maker of events apps, 12,332 per cent
- 10th: Clio, a law firm management software company, 5,499 per cent
- 15th: Avigilon Corporation, 956 per cent (the company has made the list every year since 2010)
- 16th: Zafin, a maker of finance sector software, 865 per cent
- 22nd: Appnovation Technologies, 654 per cent
- 34th: Clevest, which makes management software for utilities, 259 per cent
- 42nd: Photon Control, a developer of technology for sensors, 220 per cent
At the top of the list is Toronto-based ad software firm Chango, which grew its revenues 698 times over the same five year period.