Deloitte Fast 500: Medical device company takes the top spot but software continues to dominate the top 10

For the 26th consecutive year, bundle companies continued to predominate the Deloitte Technology Fast 500, but biotech and aesculapian instrumentality companies besides captured apical spots. Axonics (Nasdaq: AXNX), a aesculapian exertion company, topped the 2021 database with a maturation complaint of 87,037% from 2017 to 2020. No, that's not a typo. Based successful Irvine, CA, Axonics offers an "implantable rechargeable sacral neuromodulation system" designed to dainty patients with "overactive bladder and/or fecal incontinence".

"Axonics is arrogant to beryllium recognized arsenic the fastest increasing institution connected the Deloitte Technology Fast 500 list," said Raymond W. Cohen, main enforcement serviceman of Axonics, successful a property release. "The beardown maturation of Axonics is simply a testament to the mission-driven civilization of the company, the dedication of our employees, and our committedness to innovation and processing best-in-class incontinence solutions that amended the lives of patients. We are grateful for the spot physicians, patients and shareholders person placed successful Axonics."

For the 9 months that ended connected September 20, 2021, Axonics reported nett gross of $127.2 million compared to $76.8 cardinal for the aforesaid play successful 2020, representing a 66% maturation rate. In October, the Orange County Business Journal named Axonics the fastest increasing nationalist institution successful Orange County. 

The apical 10 companies connected the 2021 Fast 500 database were:

1. Axonics - Medical instrumentality institution focused connected incontinence therapies, Irvine, CA
2. GetUpside - Customer rewards and loyalty platform, Washington, DC
3. Attentive - Text connection selling software, Hoboken, NJ
4. Shipwell - Logistics and shipping software, Austin, TX
5. Snapcommerce - Mobile commerce institution that runs Snaptravel, Toronto, ON
6. Coherus BioSciences - Biopharmaceutical company, Redwood City, CA
7. Drift - Conversational selling platform, Boston, MA
8. Nufabrx - Biopharmaceutical institution offering "healthware" products, Conover, NC
9. VirnetX Holding - Real-time communications security, Zephyr Cove, NV
10. Banyan Software - Enterprise software, Atlanta, GA

Now successful its 27th year, Deloitte's 2021 Technology Fast 500 ranks companies based connected their percent fiscal twelvemonth gross maturation betwixt 2017 and 2020. The companies connected the this year's database had gross maturation betwixt 212% and 87,037% and a median maturation complaint of 521%.

Software and SaaS companies made up 73% of the companies connected the 2021 Deloitte Technology Fast 500 list.

Image: Deloitte

Software and SaaS companies accounted for 7 of the apical 10 companies connected the database and 368 (73%) of the list's full 500. This is simply a 2% summation from past year. Within this category, endeavor infrastructure & productivity made up 26%, fintech 19%, integer platforms 18%, information analytics 13%, information 12% and yet user bundle and healthtech with 6% each.

Biotechnology/pharmaceutical companies made up the adjacent largest manufacture radical with 14%, integer content/media/entertainment and physics devices/hardware tied for 3rd with 3% each and communications/networking, vigor tech and aesculapian devices tied for the for the 4th spot with 2%.

2021 Deloitte Technology Fast 500 winners by industry

Image: Deloitte

In an interrogation with TechRepublic, Paul Silverglate, spouse and vice seat with Deloitte, said helium believes "biotech is climbing up" the database and due to the fact that this year's ranking lone reflects information from the archetypal portion of the  COVID pandemic, helium expects to spot much biotech companies connected aboriginal lists.

Silverglate besides said helium expects consequent reports to bespeak the maturation of companies that supply "products that were developed arsenic a effect of COVID" to assistance radical enactment from their homes. "Companies that assistance you live, enactment and play wrong your home, tended to bash good during the pandemic," said Silverglate. "And, Those companies that helped you live, enactment and play extracurricular your home, little well."

SEE: Coronavirus: Critical IT policies and tools each concern needs (TechRepublic Premium)

Along with circumstantial companies and tech sectors, Deloitte besides ranked geographic regions. The companies connected the 2021 database represented 37 states and provinces successful North America. California's Silicon Valley topped the Fast 500 accounting for 21% of institution headquarters. The New York metropolitan country was 2nd with 12%, New England was 3rd with 8%, greater Los Angeles had 6% and greater Washington, DC, Washington State, and Texas accounted for 5% each.

Silicon Valley and the San Francisco Bay country had the astir companies (by headquarters) connected the Deloitte 2021 Technology Fast 500 database with 103 retired of 500 (21%).

Image: Deloitte

To beryllium considered for Deloitte's 2021 North America Technology Fast 500 awards, companies had to use betwixt April 5 and July 9, 2021 and conscionable the pursuing requirements:

• Be successful concern for astatine slightest 4 years
• Be headquartered successful North America
• Have fiscal twelvemonth 2017 operating revenues of astatine slightest $50,000
• Have fiscal twelvemonth 2020 operating revenues of astatine slightest $5 million
• Have a maturation complaint of astatine slightest 75% (growth complaint is computed arsenic [(FY20 rev. - FY17 rev.)/FY17 rev.] x 100)
• Own proprietary intelligence spot oregon proprietary technology, which indispensable beryllium sold to customers successful products oregon services that lend to a bulk of the company's operating revenues

Companies besides had to autumn wrong 1 of the manufacture categories connected this year's list. There was nary interest to apply.

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