WATERLOO, ON, — Nov 18, 2020 — 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 83 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 now in its 26th year.
Auvik, a network-focused software company, ranked on both of these lists due to its 1,307% revenue growth from 2016 to 2019.
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 23rd year, the program runs alongside the broader Deloitte North American Technology Fast 500™, with winners automatically eligible for this elite ranking.
“At Auvik, we work hard every day to simplify network management for our customers, and we deliver on this promise with an easy-to-use product, which solves a genuine need in the market,” said Auvik CEO Marc Morin. “We couldn’t have done this without our exceptionally talented employees and our agile engineering-led culture that’s collaborative, purposeful, and impactful.”
“This year’s Fast 50 winners should be especially proud of this designation, as their role in the fabric of Canadian business—particularly during these turbulent times—is crucial,” said Erica Pretorius, partner and national leader for the Technology Fast 50 program at Deloitte Canada. “Their bold vision and true commitment to innovation allow them to not only improve today’s world, but also shape tomorrow’s, despite the constant uncertainty. This year’s winners are proving themselves resilient, innovative and adaptable, all in an unpredictable year defined by economic instability and the continuing public health crisis.”
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.
“For more than 25 years, we’ve been honoring companies that define the cutting edge and this year’s Technology Fast 500 list is proof positive that technology — from software and digital media platforms, to biotech — truly does permeate so many facets of our lives,” said Paul Silverglate, vice chairman, Deloitte LLP and U.S. technology sector leader. “We congratulate this year’s winners, especially during a time when innovation is needed more than ever to address the monumental challenges posed by the pandemic.”
“Each year the Technology Fast 500 listing validates how important technology innovation is to our daily lives. It was interesting to see this year that while software companies continued to dominate, biotech companies rose to the top of the winners list for the first time, demonstrating that new categories of innovation are accelerating in the pursuit of making life easier, safer and more productive,” said Mohana Dissanayake, partner, Deloitte & Touche LLP, and industry leader for technology, media and telecommunications, within Deloitte’s audit and assurance practice. “We extend sincere congratulations to these well-deserved winners — who all embody a spirit of curiosity, and a never-ending commitment to making technology advancements possible.”
About Deloitte’s 2020 Technology Fast 500™
Now in its 26th 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 2016 to 2019.
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.
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 distinct categories, including the Technology Fast 50 ranking, Enterprise Fast 15, and Companies-to-Watch. The program also recognizes companies within the North American Technology Fast 500 ranking, identifying technology companies in the United States and Canada. The 2020 program sponsors include Deloitte, RBC, CBRE, Clarity Recruitment, and Lafond. For further information, visit www.fast50.ca.
Deloitte provides audit and assurance, consulting, financial advisory, risk advisory, tax, and related services to public and private clients spanning multiple industries. Deloitte serves four out of five Fortune Global 500® companies through a globally connected network of member firms in more than 150 countries and territories bringing world-class capabilities, insights, and service to address clients’ most complex business challenges. Deloitte LLP, an Ontario limited liability partnership, is the Canadian member firm of Deloitte Touche Tohmatsu Limited. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.
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About Auvik Networks
Auvik’s cloud-based network management software keeps IT networks around the world running optimally. By automating and simplifying network management, Auvik helps rocket an IT team’s efficiency and capacity, while protecting the business from network risk. Auvik is one of the fastest growing North American technology companies, and is winner of the Deloitte Technology Fast 50, Deloitte Fast 500, and recognized as the #1 ranked Canadian company in the FT Americas’ Fastest Growing Companies 2020. Visit www.auvik.com or follow @AuvikNetworks on Twitter. Auvik is a registered trademark of Auvik Networks Inc.