Three Minnesota technology companies have landed on the Deloitte 2021 Technology Fast 500 list. The annual ranking — now in its 27th year — compiles companies based on, “percentage fiscal year revenue growth from 2017 to 2020.”
The three Minnesota companies included are:
- Branch (Minneapolis) — #34, 6,014 percent growth
- Arctic Wolf (Eden Prairie) — #159, 861 percent growth
- Inspire Medical Systems (Golden Valley) — #384, 304 percent growth
In a release, Branch said it has grown its enterprise customer base by 700 percent in the last year.
“We’re excited to continue our momentum and have that growth recognized alongside such an esteemed list of companies,” Branch Founder and CEO Atif Siddiqi said in the release. “We look forward to expanding our offerings and providing access to fast, flexible workforce payments to more industries.”
Of the three Minnesota companies, Inspire Medical Systems is the only that was also featured on the 2020 edition of the list. In that year, the medical device company ranked #278 with 399 percent growth. Total Expert also appeared on the 2020 list at #82.
According to Deloitte, the Software and SaaS sector is the most represented of the entire bunch (73 percent of ranked companies), with Biotechnology/pharmaceutical (14 percent) and electronic devices/hardware (3 percent) coming in second and third respectively.
“Each year the Technology Fast 500 shines a light on leading innovators in technology and this year is no exception,” Vice Chair and U.S. Technology Sector Leader of Deloitte Paul Silverglate said in a release. “In the face of innumerable challenges resulting from the pandemic, the best and brightest were able to pivot, reinvent and transform and grow. We celebrate the winning organizations and especially the talented employees driving their success.”
Branch CEO Atif Siddiqi and Arctic Wolf Chief Revenue Officer Nick Schneider have been featured on The tech.mn Podcast. Be sure to check out both of the episodes.
For more information about the 2021 Technology Fast 500 list, read the release below.
SAN FRANCISCO, Nov. 17, 2021 — Deloitte today released its “North America Technology Fast 500,” an annual ranking of the fastest-growing North American companies in the technology, media, telecommunications, life sciences, fintech, and energy tech sectors, now in its 27th year.
Axonics, Inc. claimed the top spot with a growth rate of 87,037% from 2017 to 2020. Based in Irvine, Calif., Axonics (Nasdaq: AXNX) is a global medical technology company focused on the development and commercialization of novel therapies for patients with incontinence. The Axonics® implantable rechargeable sacral neuromodulation system provides patients suffering from overactive bladder and/or fecal incontinence with long-lived, easy to use, safe, and clinically effective therapy. Axonics’ next-generation urethral bulking agent, Bulkamid®, provides women suffering from stress urinary incontinence with safe and durable symptom relief. Axonics is one of six California-based companies ranked in the top 20 this year.
“Axonics is proud to be recognized as the fastest growing company on the Deloitte Technology Fast 500 list,” said Raymond W. Cohen, chief executive officer of Axonics. “The strong growth of Axonics is a testament to the mission-driven culture of the company, the dedication of our employees, and our commitment to innovation and developing best-in-class incontinence solutions that improve the lives of patients. We are grateful for the trust physicians, patients and shareholders have placed in Axonics.”
Technology Fast 500 awardees are selected based on percentage fiscal year revenue growth from 2017 to 2020. Overall, the 2021 Technology Fast 500 companies achieved revenue growth ranging from 212% to 87,037% over the three-year time frame, with a median growth rate of 521%.
“Each year the Technology Fast 500 shines a light on leading innovators in technology and this year is no exception,” said Paul Silverglate, vice chair, Deloitte LLP and U.S. technology sector leader. “In the face of innumerable challenges resulting from the pandemic, the best and brightest were able to pivot, reinvent and transform and grow. We celebrate the winning organizations and especially the talented employees driving their success.”