ORBCOMM Inc., a global provider of Machine-to-Machine (M2M) and Internet of Things (IoT) solutions, today announced that it ranked 383 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. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2012 to 2015. ORBCOMM grew 176% percent during this period.
“It’s a great honor to receive Deloitte’s distinguished award as it recognizes our leadership position in the IoT industry and validates our strategy of leveraging continuous in-house technology innovation and the expansion of our products, capabilities and market reach through acquisition and partnerships with our fellow industry leaders,” said Marc Eisenberg, ORBCOMM’s Chief Executive Officer. “Being ranked on the Fast 500 list again this year is evidence of the great team we’ve built and our commitment to providing the IoT industry’s broadest set of solutions that help our customers have command and control of their assets anywhere in the world.”
“This year’s Fast 500 winners showcase that when organizations are open to diverse perspectives and insights, they are able to create an environment for their employees and customers to see the possibilities and ingenious solutions that might lie ahead,” added Jim Atwell, National Managing Partner of the Emerging Growth Company Practice, Deloitte & Touche LLP. “Entrepreneurial environments foster change and innovation within businesses, and we look forward to watching these companies continue to drive change across all sectors.”
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. Overall, 2016 Technology Fast 500™ companies achieved revenue growth ranging from 121 percent to 66,661 percent from 2012 to 2015, with median growth of 290 percent.