MONTREAL & NEW YORK--(BUSINESS WIRE)--Plusgrade (“the Company”), a leading provider of revenue solutions to the travel industry, today announced it has been named as one of North America's fastest growing technology companies in the 20th annual Deloitte Technology Fast 50™ and Fast 500™ awards. This marks the second consecutive year that Plusgrade has been recognized on both lists.
The Deloitte Technology Fast 50 and Fast 500 programs celebrate leadership, innovation, and rapid growth in the Canadian and North American technology sectors, based on the percentage of revenue growth over the past three years. Winners are made up of public and private companies in the technology sector that share common traits and strengths and have transformed the industry. Celebrating its 20th anniversary this year, the program augments the broader Deloitte North American Technology Fast 500™ initiative with winners automatically eligible for this elite ranking. Plusgrade achieved 786% revenue growth from 2013 to 2016.
“We are honored to be named one of the fastest growing technology companies for a second consecutive year,” said Ken Harris, Founder and CEO of Plusgrade. “At Plusgrade, we have enjoyed a successful year filled with strategic new business opportunities, a growing customer base and enhanced service offerings, all of which is due in large part to our dedicated team of whom I am extremely proud. We look forward to continuing our growth while providing our partners within the travel industry the premier solutions that they have come to expect.”
“Fast 50 companies have demonstrated a successful track record of generating profitable and sustainable growth for the technology industry in Canada,” said Erica Prectorius, Partner and National Leader for the Technology Fast 50™ program at Deloitte Canada. “We are proud to recognize their efforts that have had such a significant impact on the market and wish them further success in 2018.”
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.
Plusgrade is the market leading provider of upgrade solutions, a key segment of the fast-growing ancillary revenue and merchandising sector in the global airline industry. The Company’s software solutions provide its global base of customers with meaningful incremental revenue and controls, allowing them to enhance and optimize revenue across classes of service. Plusgrade’s proprietary SaaS platform has received accolades from industry-wide participants and many distinguished media publications. Founded in 2009, Plusgrade has offices in Montreal, Canada and New York. For more information, please visit www.plusgrade.com.
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, Companies-to-Watch Awards (early-stage Canadian tech companies with the potential to be a future Deloitte Technology Fast 50 candidate) and the Leadership Awards (companies that demonstrate technological leadership and innovation within the industry.) Program sponsors include Deloitte, Aequitas NEO Exchange, Bank of Montreal, Bennett Jones, CBRE, OMERS Ventures and Wellington Financial. For further information, visit www.fast50.ca.
About Deloitte’s 2017 Technology Fast 500™
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 2013 to 2016.
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 $50,000 USD, and current-year operating revenues of at least $5 million USD. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.