In 2010 we were first included in the Deloitte Fast 50, a list of the 50 fastest growing technology companies in Canada based on audited revenues. We debuted at #14 that year with a five year growth rate of 2296%. Last night, Deloitte released their 2013 edition of the Fast 50 list, and I’m happy to report that Solace put in our fourth straight solid showing, ranking 19th with 395% revenue growth over the past five years.
The nature of these rankings is that it’s easier to post gaudy growth percentages when you’re just getting started thanks to the mathematical power of a smaller denominator (i.e. a small revenue figure five years earlier). It takes real substance to stay near the top of the list, however, since every year those small denominators drop off the back of the growth window. Growth over the long haul means you need not just an interesting solution but a large market opportunity, sustainable competitive advantage, an enduring value proposition, and continuous revenue execution.
If you look at the top 20 companies from 2010 (the first year Solace was on the list) only 5 are in this year’s top 50, and just 3 are still in the top 20 (including us). The rest have either hit a growth wall or been acquired.
Deloitte’s Fast 50 is great, because it gives private companies like Solace an opportunity to stand side by side with public companies in an apples to apples way. We’re proud of the track record of growth and success that their rankings demonstrate, and we look forward to being on the list for many years to come.