Software and services industry category continues to dominate list with fintech and life sciences placing second and third in 30th annual ranking of fastest-growing businesses
SAN FRANCISCO, Nov. 21, 2024 -- Deloitte today released its "North America Technology Fast 500™," an annual ranking of the fastest-growing North American companies in the technology, media, telecommunications, life sciences, fintech, and energy tech sectors, now in its 30th year.
TG Therapeutics, Inc. claimed the top spot with a growth rate of 153,625% from 2020 to 2023. TG Therapeutics is a fully integrated, commercial-stage biopharmaceutical company focused on the acquisition, development, and commercialization of novel treatments for B-cell diseases.
"TG Therapeutics is proud to be recognized as the fastest-growing company on the Deloitte Technology Fast 500 list," said Michael S. Weiss, Chairman and Chief Executive Officer of TG Therapeutics. "Our success over the past few years reflects the support from the multiple sclerosis community and the dedication of our incredible team in bringing BRIUMVI, an approved treatment for adults with relapsing forms of multiple sclerosis, to those in need."
Technology Fast 500 awardees are selected based on percentage fiscal year revenue growth from 2020 to 2023. Overall, the 2024 Technology Fast 500 companies achieved revenue growth ranging from 201% to 153,625% over the three-year time frame, with an average growth rate of 1,981% and a median growth rate of 460%.
"For 30 years we've been celebrating companies that are actively driving innovation. The software industry continues to be a beacon of growth, and the fintech industry made a strong showing on this year's list, surpassing life sciences for the first time," said Steve Fineberg, vice chair, U.S. technology sector leader, Deloitte. "Significantly, we also saw a breakthrough in the performance of private companies, with the highest number of private companies named to the list in our program's history. This year's winners have shown they have the vision and expertise to continue to perform at a high level, and that deserves to be celebrated."
The Technology Fast 500's top 10 includes:
2024 Rank | Company | Sector | Revenue Growth (2020 to 2023) | City, State |
1 | TG Therapeutics, Inc. | Life sciences | 153,625 % | New York, New York |
2 | Vytalize Health | Life sciences | 126,668 % | Hoboken, New Jersey |
3 | Lessen | Software and services | 39,691 % | Scottsdale, Arizona |
4 | Zero Hash | Fintech | 31,758 % | Chicago, Illinois |
5 | Deel | Software and services | 26,900 % | San Francisco, California |
6 | Talkiatry | Life sciences | 17,718 % | New York, New York |
7 | PurposeMed | Life sciences | 16,169 % | Calgary, Alberta |
8 | PrizePicks | Digital content/ media/entertainment | 16,119 % | Atlanta, Georgia |
9 | Autosled, Inc. | Software and services | 14,001 % | Rockville, Maryland |
10 | Cowbell | Fintech | 13,458 % | Pleasanton, California |
A deeper look
The Deloitte Technology Fast 500 winners represent 39 states and provinces across North America. California's Bay Area continued to lead the regional pack with 17% of the Technology Fast 500 winners, followed by the Tri-State Area representing 16% of the winning companies. Software and services is the leading industry in all major markets, even New England, where historically life sciences has dominated.
Eighty-three percent of the companies listed in the 2024 Technology Fast 500 were backed by venture capital or private equity funding at some point in their company history.
Below is a summary of the 2024 ranking by regions with a significant concentration of winners:
Location | Percentage | Fastest-Growing Company in the Region | Overall Company | Dominate Sectors in Location |
Bay Area | 17 % | Deel | 5 | Software 71% |
Tri-State Area | 16 % | TG Therapeutics, Inc. | 1 | Software 51% |
New England | 7 % | Circle | 17 | Software 43%, |
Texas | 6 % | Archer Review | 33 | Software 73% |
Greater Washington, D.C. | 4 % | Autosled Inc. | 9 | Software 62% |
Los Angeles | 4 % | Gamefam | 30 | Software 50% |
Florida | 3 % | GoTu | 31 | Software 53% |
Pacific Northwest | 3 % | Skypoint | 26 | Software 82% |
Software and services dominate for 29th straight year
Software and services companies once again topped this year's Technology Fast 500 listing, representing the majority of the winners for the 29th straight year (59%). Of the software and services companies on the list, digital platforms represented the majority of winners (41%), with enterprise infrastructure and productivity following close behind with 36% of the winners. Security (14%), consumer software (6%), and education (2%) comprised the rest of the subsectors within software and services. Fintech and life sciences rounded out the top three industry categories with 15% and 14% of total winners, respectively.
The overall median growth rate of the winners was 460%. Energy and sustainability technology had the highest median revenue growth rate at 854%.
The Technology Fast 500 by industry sector:
Sector | Percentage | Sector Leader | Median Revenue |
Software and services | 59 % | Lessen | 436 % |
Fintech | 15 % | Zero Hash | 554 % |
Life sciences | 14 % | TG Therapeutics, Inc. | 442 % |
Energy and sustainability technology | 4 % | Oxygen8 Solutions | 823 % |
Digital content/media/ entertainment | 3 % | PrizePicks | 493 % |
Hardware and semiconductors | 3 % | PixMob | 477 % |
Communications/networking | 1 % | Caliola Engineering, LLC | 314 % |
"Innovation, transformation, and disruption of the status quo are at the forefront for this year's Technology Fast 500 list, and there's no better way to celebrate 30 years of program history," said Christie Simons, partner, Deloitte & Touche LLP and industry leader for technology, media and telecommunications within Deloitte's Audit & Assurance practice. "This year's winning companies have demonstrated a continuous commitment to growth and remarkable consistency in driving forward progress. We extend our congratulations to all of this year's winners — it's an incredible time for innovation."
For additional details, connect with us on LinkedIn at @SteveFineberg, @ChristieSimons.
About Deloitte
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world's most admired brands, including nearly 90% of the Fortune 500® and more than 8,500 U.S.-based private companies. At Deloitte, we strive to live our purpose of making an impact that matters by creating trust and confidence in a more equitable society. We leverage our unique blend of business acumen, command of technology, and strategic technology alliances to advise our clients across industries as they build their future. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Bringing more than 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte's approximately 460,000 people worldwide connect for impact at www.deloitte.com.
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