WATERLOO, ON / Nov 7, 2019 — Auvik Networks has been presented the Deloitte Technology Fast 50™ program award for its rapid revenue growth, entrepreneurial spirit, and bold innovation. The program recognizes technology companies with the highest revenue-growth percentage over the past four years.
The company also ranked 12th 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.
Auvik ranked on both of these lists thanks to its 7,914% revenue growth from 2015 to 2018.
The Deloitte Technology Fast 50 program winners consist of public and private companies in the technology sector, which have transformed the industry. Now in its 22nd year, the program runs alongside the broader Deloitte North America Technology Fast 500.
“It takes a village to raise a successful tech company,” said Auvik CEO Marc Morin. “Auvik’s growth could not have happened without the contributions and support of our employees, past and present, our customers and strategic partners, our investors, the tech community here in Waterloo Region, and countless others. We are proud—and also grateful—for where we stand today.”
Auvik makes cloud-based software that simplifies and automates network monitoring and management for IT managed service providers. Headquartered in Waterloo, Ontario, Canada, the company also has offices in Ottawa, Barcelona, Sydney, and the UK.
“In an era of rapid and constant change, Fast 50 companies should be incredibly proud of the impact they are making across all industries, as they foster the economic prosperity and success of our country,” said Erica Pretorius, Partner and National Leader for the Technology Fast 50 program at Deloitte Canada. “Their bold vision, unrivaled growth and true commitment to innovation allow them to not only improve today’s world, but also shape tomorrow’s, and I can’t wait to see where they take us moving forward.”
To qualify for the Deloitte Technology Fast 50 ranking, companies must have been in business for at least four years, have revenues of at least $5 million, be headquartered in Canada, own proprietary technology, conduct research and development activities in Canada, and invest a minimum of five percent of gross revenues in R&D.
“As technology innovation trends towards ‘everything as a service,’ it’s no surprise that software companies dominate the winners list yet again this year,” said Mohana Dissanayake, partner, Deloitte & Touche LLP, and industry leader for technology, media and telecommunications, within Deloitte’s audit and assurance practice. “What’s exciting about celebrating 25 years of the Tech Fast 500 is we now have a quarter century of innovation stories to draw and reflect upon. These are the companies that push boundaries, help organizations become more efficient and productive, and ultimately enable businesses to drive growth and revenue. We congratulate all the well-deserving winners.”
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 US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America
About the Deloitte Technology Fast 50™
The Deloitte Technology Fast 50 program is Canada’s pre-eminent technology awards program. Celebrating business growth, innovation and entrepreneurship, the program features three distinct categories including the Technology Fast 50 Ranking, Enterprise Fast 15 category (recognizes fastest-growing enterprise-level technology, media, and telecommunications companies by revenue-growth percentage over their last four years of operation), and Companies-to-Watch Awards (early-stage Canadian tech companies with the potential to be a future Deloitte Technology Fast 50 candidate). Program sponsors include Deloitte, Bank of Montreal, CBRE, First West Capital, Miller Thomson, OMERS Ventures, 3C and Lafond. For further information, visit www.fast50.ca.
About Deloitte’s 2019 Technology Fast 500™
Now in its 25th year, 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 2015 to 2018.
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 $US50,000, and current-year operating revenues of at least $US5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America