The Strategist

The five most fast-growing high-tech companies


06/01/2017 - 11:59



The rating includes leading public technical companies, which showed a rapid growth in sales over the past three years, combined with projected revenue growth in the next three to five years. This year, the rating’s star was Veeva Systems - a company that showed a noticeable growth of shares thanks to investments of its founder and executive director Peter Gassner. The company is developing software for the largest pharmaceutical companies. Having taken the eighth place in the rating of this year, the Veeva Systems became the second fastest growing corporate technology company that has ever received $ 500 million in revenue. With its new platform for applications, Veeva Vault is rushing to a figure of $ 1 billion. The average sales growth is 37%.



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1. Grubhub

Grubhub, creator of a delivery platform for 50,000 restaurants in more than 500 cities, occupies the very top of the American Forbes’s rating of the fastest growing technology companies in 2017. The average sales growth was 52%, Forbes reports. The publication reminds that the company became public in 2014, having debuted on the New York stock exchange.

The Chicago-based Grubhub cooperates with 44,000 restaurants in more than 1,000 cities in both the US and the UK. The company also intends to support growth of its own delivery service at the expense of its own products. In March 2017, the company purchased three restaurant delivery services and began hiring independent contractors to work as couriers. Thus, Grubhub has the potential to compete with competitors and retain a significant share of the food delivery market in the US.

2. Facebook

Mark Zuckerberg’s social network, which connects 2 billion users, took the second place in the rating. In recent years, the company welcomed Instagram and WhatsApp. Average sales growth for the three years amounted to 51%.

3. Arista Networks

The top three also includes Arista Networks, a network equipment manufacturer for large data centers, high-performance computing systems and cloud-based network solutions. Arista Networks was established in 2004 to develop and produce innovative network equipment for software-defined data centers, supercomputer computing (HPC) and high-frequency exchange trading (High Frequency Trading). Arista's network equipment is actively used by Cisco in the battle for the market of 100-Gigabit network switches.

4. Paycom Software

The 4th place is occupied by Paycom Software Inc, which develops the cloud-based software product HCM, software as a service. The company provides functionality and data analytics so that companies can manage the full life cycle of employment from the time of enrollment to the state to retirement. The company was founded in 1998 with headquarters in Oklahoma City, USA. Paycom Software entered the IPO in April 2014, and since then the stock has risen in price three times.

Paycom Software is engaged in high-tech business in a large market segment, offering solutions to companies with a staff of 50 to 2 thousand people, while industry leaders Automatic Data Processing, Inc. and Workday are focused on large customers. Paycom’s toolkits allow automating personnel accounting, the process of calculating wages. Paycom Software solutions’ advantage lies in the ease of configuration combined with stable performance and great functionality. The company sells developments through a developed agent network and regional sales offices.

5. Ellie May

Ellie Mae’s shares increased by more than 1400% since the IPO in 2011, as investors saw great value in automating the process of mortgage lending for small creditors.

Ellie Mae is engaged in prospective business in the US. The company develops and provides software for calculating loan applications for users. The company’s flagship, the Encompass system, is designed to assess the borrower's creditworthiness and the loan’s organization. The company serves about a quarter of the mortgage market. Moreover, Ellie Mae's software is a gateway to other services. For example, in October, Ellie Mae integrated the Fraud Guard solution of First American Financial Corporation into its TQL platform, which reduces the risks of fraud when registering mortgage loans.

source: forbes.com




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