Tech Company Attributes 1,122% Revenue Growth to People and Culture
Pax8, the leading cloud commerce marketplace, announced it ranked 131 on the Deloitte Technology Fast 500, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America, now in its 28th year. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2018 to 2021. Pax8 grew by 1,122% during this period.
“Pax8 continues to proliferate with more than 1,400 employees in 17 countries, and our culture fuels our success,” said John Street, Chief Executive Officer at Pax8. “With a mission to be the world’s favorite marketplace to buy cloud products, we are enabling businesses worldwide to gain efficiencies, drive growth, and reduce risks. We have accomplished some extraordinary things and are exhilarated about the next phase in our journey.”
To be eligible for Technology Fast 500 recognitions, companies must own proprietary intellectual property or technology sold to customers in products that contribute to most 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. Overall, 2022 Technology Fast 500™ companies achieved revenue growth ranging from 241% to 125,138% from 2018 to 2021, with median growth of 611%.
“This year’s Technology Fast 500 list is a true reflection of some of today’s most determined and inspiring pioneers who have prospered by anticipating what’s next, understanding what’s needed to succeed and driving creativity forward,” said Christie Simons, partner, Deloitte & Touche LLP and industry leader for technology, media and telecommunications within Deloitte’s audit and assurance practice. “Representing all facets of technology, the winners have shown they not only have the vision but can also expertly manage their companies through rapid growth. We congratulate each winner on their impressive achievements.”
“As the past year has shown us, innovation in important areas such as life sciences is critical to addressing infectious disease and other global health issues,” said Paul Silverglate, vice chair, Deloitte LLP and U.S. technology sector leader. “In addition, technology must keep pace with ever-changing consumer and corporate demands for faster, safer, and more efficient solutions to new societal challenges. Each year I am in awe of the immense talent the Technology Fast 500 rankings reveal, confirming the winners’ relentless pursuit of creativity and ability to solve real-world problems that benefit us all.”