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Deloitte Celebrates 25th Year of Technology Fast 500™; Unveils 2019 North America Rankings

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Photo source: forbes.com

Deloitte today celebrated the 25th anniversary and release of its “North America Technology Fast 500,” an annual ranking of the fastest-growing North American companies in the technology, media, telecommunications, life sciences and energy tech sectors.

UiPath claimed the top spot with a growth rate of 37,458% from 2015 to 2018. Founded in 2005, UiPath’s vision is a robot for every person — freeing people of burdensome, repetitive labor so they can focus on more valuable, satisfying work. UiPath has automated millions of repetitive, rule-based tasks for organizations worldwide. UiPath is one of three New York-based companies ranked in the top 10 this year.

Technology Fast 500 awardees are selected based on percentage fiscal year revenue growth from 2015 to 2018. Over the past quarter century, the Fast 500 program has honored nearly 6,000 companies across North America.

Overall, the 2019 Technology Fast 500 companies achieved revenue growth ranging from 166% to 37,458% over the three-year time frame, with a median growth rate of 439%. Results also show a shift to more private companies making the list (76%) versus public companies (24%) — a 7% change from last year’s rankings.

“This year marks the 25th anniversary of Deloitte’s Technology Fast 500, so we are especially pleased to announce and congratulate the 2019 winners,” said Sandra Shirai, vice chairman, Deloitte LLP, and U.S. technology, media and telecommunications leader. “Once again, we saw innovation across the board, with software companies continuing their dominance of the top 10. It’s always inspiring to see how the Fast 500 companies are transforming business and the world we live and work in.”

“Being recognized by Deloitte as the fastest growing technology company on the Fast 500 List is nothing short of incredible,” said Daniel Dines, co-founder and CEO of UiPath. “What we’ve achieved over the last decade could not have been done without the hard work of our employees and the amazing support of our customers, partners and investors. They humble us and inspire us to work harder to evolve RPA as the technology that not only unlocks the true potential of AI, but also other emerging solutions. This achievement is for all of them.”

The Technology Fast 500’s top 10 include:

2019 
Rank

Company

Sector

Revenue
Growth (2015
to 2018)

City, State

1

UiPath

Software

37,458%

New York, New
York

2

Sarepta Therapeutics,
Inc.

Biotechnology/

pharmaceuticals

23,925%

Cambridge,
Massachusetts

3

AuditBoard

Software

16,682%

Los Angeles,
California

4

Outreach

Software

16,069%

Seattle,
Washington

5

iLearningEngines Inc.

Software

15,846%

Bethesda,
Maryland

6

Urgently

Software

11,624%

Vienna, Virginia

7

SentinelOne

Software

10,275%

Mountain View,
California

8

Wibbitz

Software

9,083%

New York, New
York

9

LendingPoint

Software

8,813%

Kennesaw,
Georgia

10

Fortress Biotech, Inc.

Biotechnology/

pharmaceuticals

8,463%

New York, New
York

Silicon Valley has largest share of winners
Deloitte’s Technology Fast 500 winners represent more than 41 states and provinces across North AmericaCalifornia’s Silicon Valley continues to produce fast-growing companies, leading regional representation with 19% of this year’s Fast 500. The New York metro area also fared well with 12% of the companies; New England with 8% and Greater Washington, D.C., with 7%, and Greater Los Angeles accounted for 5%.

Following is a summary of the 2019 ranking by regions with a significant concentration of winners:

Location

Percentage
of List

Fastest-Growing
Company in the
Region

Overall
Company
Ranking

Dominant Sectors in
Location & Relevant %

Silicon
Valley

19%

SentinelOne

7

Software 75%

New York
Metro Area

12%

UiPath

1

Software 61%; Digital
content/
media/entertainment
18%

New England

8%

Sarepta
Therapeutics, Inc.

2

Software 55%; 
Biotechnology/
pharmaceuticals 29%

Greater
Washington,
D.C.

7%

iLearningEngines
Inc.

5

Software 80%

Greater Los
Angeles
Area

5%

AuditBoard

3

Software 63%

Software continues to dominate for the 24th straight year
Software companies continue to deliver the highest growth rates for the 24th straight year, representing 68% of the entire list and eight of the top 10 overall winners. Of the private companies on the list, 48% identify themselves as part of the software as a service (SaaS) or enterprise software subsector and 12% of companies are software with a financial services orientation (fintech). Since the creation of the ranking, software companies have consistently made up the majority of the winners, with a median growth rate of 449% in 2019.

Biotechnology/pharmaceutical companies make up the second most prevalent sector in this year’s rankings, accounting for 11% of the Fast 500 companies and achieving a median growth rate of 402% in 2019. Digital content/media/entertainment companies rank third at 10% of the list with a median growth rate of 439%.

The Technology Fast 500 by industry sector:

Sector

Percentage

Sector Leader

Median Revenue
Growth (2015 to
2018) 

Software 

68%

UiPath

449%

Biotechnology/
pharmaceutical

11%

Sarepta Therapeutics
Inc.

402%

Digital content/

media/entertainment

10%

Vislink Technologies
Inc.

439%

Medical devices

4%

Accelerate
Diagnostics Inc.

432%

Communications/
networking

3%

Ridgeline
International

305%

Electronic devices/
hardware 

3%

Fitness Cubed Inc.

337%

Semiconductor

1%

Phononic

278%

Energy tech

1%

GreenPrint

920%

Four out of five companies received venture backing
In the 2019 Fast 500 rankings, 85% of the companies were backed by venture capital at some point in their company history. Notably, 28 of the top 30 companies on the Technology Fast 500 in 2019 received venture funding.

“As technology innovation trends toward ‘everything as a service,’ it’s no surprise that software companies dominate the winners list yet again this year,” said Mohana Dissanayake, partner, Deloitte & Touche LLP, and industry leader for technology, media and telecommunications, within Deloitte’s audit and assurance practice. “What’s exciting about celebrating 25 years of the Tech Fast 500 is we now have a quarter century of innovation stories to draw and reflect upon. These are the companies that push boundaries, help organizations become more efficient and productive, and ultimately enable businesses to drive growth and revenue. We congratulate all the well-deserving winners.”

 

SOURCE Deloitte

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Sleep interiors brand gets job offer from Peter Jones despite not securing investment in Dragons Den

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LONDON, March 29, 2024 /PRNewswire/ — Tonight on BBC1, REMY founder Abeer Iqbal, entered the Den, and despite intense grilling and no investment, left with a six-figure job offer from Peter Jones

Abeer’s pitch began with the Dragon’s keen to experience his sleep-enhancing furniture. When Steven and Peter laid on his hero  ‘The Pod’, a reinvention of the beanbag, and under REMY’s best-selling ‘The Lounger’ weighted blankets, the dragons closed their eyes and pretended to snore. Which was ironic, as despite being told he’d enter the Den around 5pm, Abeer actually went in at 9.30pm, after the dragons had been receiving pitches since early that day, which to Abeer’s own admission “wasn’t easy”. Deborah Meaden said, “This might have been a fatal mistake to put your dragons to sleep before we start the pitch” – recognising that it had been a long day.

After 10+ years working in tech, helping multi-million pound businesses grow their empire at software giants like Shopify, Abeer experienced burn-out, which led him to develop REMY. Despite Abeer telling the dragons that he left the high-pressure industry due to stress and anxiety Peter Jones still offered him a job back in the rat race with a six-figure sum (which he still hasn’t taken). 

After leaving the Den, Abeer admitted feeling the “most anxious ever” and that he “just wanted to get back to his wife for a hug”.  Abeer shared, “I didn’t sleep for days, replaying every moment in my mind. I wanted to forget it.” But it’s not all bad, as Abeer explains, “the anxiety I experienced from the Den gave me a lightbulb moment and led me to create our most popular product yet – The Hugger Pillow. I needed a hug, so I created one”. 

Abeer continues, “I returned the next day to collect my items from the studio. I bumped into a fresh-faced Peter and Toukar in the carpark, they both praised my experience, Peter once again offered me a job and Toukar asked me to call him when I start the next business.”

The global ‘sleep economy’ is booming, projected to reach a record high of $585 billion this year. But Abeer felt he was unable to communicate this, “If I could have my time again, I would focus on the industry of Rest and Sleep rather than the specific products we were trying to innovate. I don’t think I articulated to the Dragon’s the size of the business opportunity that there is with REMY. In terms of what’s next, we are moving towards becoming a household name in rest and sleep but offering products in multiple categories.”

The Dragon that seemed to understand Abeer’s passion for this industry was Sara Davies, saying “I actually fundamentally don’t agree with what I’ve heard here. What I see in front of me, yes he is great at the e-commerce side of things but he gave up a career in corporate because he was passionate about this area. And if there’s one thing I know about business it’s that you will succeed when you pursue the thing you are passionate about. I wouldn’t discourage you to give up. Keep doing it and good luck. I think you could sell anything”.

You can watch Abeer Iqbal on Dragons’ Den on BBC iPlayer.

remysleep.com / @WEAREREMY

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Bitrue Coin (BTR) Analyzes User Behavior and Announces Upcoming Developments to Enhance Utility

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SINGAPORE, March 29, 2024 /PRNewswire/ — Bitrue, a leading cryptocurrency exchange serving over 10 million users globally, announces a focus on user behavior analysis to further develop the utility of its native token, Bitrue Coin (BTR).

“Understanding how our users interact with BTR is crucial for its continued growth,” states Robert Quartly-Janeiro, Chief Strategy Officer of Bitrue. “This analysis will guide upcoming developments that enhance the value proposition of BTR within the Bitrue ecosystem.”

The announcement follows a recent surge in interest surrounding exchange tokens, and digital assets used to pay for services to unlock benefits within specific cryptocurrency exchanges. Currently, BTR offers a compelling range of benefits to Bitrue users, including:

  • Reduced Trading Fees: BTR holders enjoy lower trading fees on the Bitrue exchange, incentivizing active participation in the platform’s marketplace.
  • Governance Voting Rights: BTR grants voting rights on select new listings, allowing users to influence the direction of the Bitrue platform.
  • Staking Opportunities: BTR holders can stake their tokens to earn passive rewards, providing an additional avenue for generating income within the Bitrue ecosystem.
  • Exclusive Airdrop Potential: BTR holders may be eligible for airdrops of new tokens listed on the Bitrue exchange, offering the chance to discover promising crypto projects early.
  • VIP Investment Caps: BTR unlocks higher investment caps for certain cryptocurrencies on the Bitrue platform, catering to high-volume investors.

“BTR already plays a multifaceted role in the Bitrue experience,” Quarterly-Janeiro continues. “By strategically expanding its utility based on user behavior analysis, we aim to solidify BTR’s position within the exchange token market and elevate its value proposition for our user base.”

The specific developments based on user behavior analysis are not disclosed at this time. However, Bitrue assures its users of continued transparency and will share details in due course.

Media Contact: Lily Ho, [email protected]

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Affordability, customisation and convenience: Term plans from India become more attractive and accessible for NRIs

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Term insurance from India emerges as preferred choice for NRIs seeking affordability and convenience

DUBAI, UAE, March 29, 2024 /PRNewswire/ — Policybazaar, India’s leading online insurance marketplace, is witnessing a significant increase in non-resident Indians (NRIs) choosing term insurance from India via its platform. This surge is driven by the unparalleled ease, affordability and accessibility offered by the Indian insurance market. While several factors contribute to the growing interest in term insurance in India, affordability and convenience stand out as primary reasons. The demand among the 18-60 age group has seen an impressive 130% year-on-year growth, with India emerging as the preferred choice for NRIs.

The surge in demand from NRIs can be credited to several standout features and benefits. Term policies from India cost up to 30-50% less for NRIs residing in the UAE and Singapore. Additionally, policies with coverage of up to INR 5 crores can be easily obtained with tele-medical check-ups from India, eliminating the need for physical visits. Unlike some countries with restricted policy terms and coverage, Indian term plans offer coverage for longer duration, extending up to 99 years.

Sarbvir Singh, Joint Group CEO, Policybazaar, states, “We are witnessing exponential growth in term insurance purchases from NRIs, particularly from the Gulf nations and Singapore. Policybazaar has focused its efforts on expanding term insurance protection in both Indian and overseas markets. The unmatched benefits offered by India, including competitive pricing, larger covers, and streamlined processing through video/tele medicals, are significant contributors to this demand. It is heartening to see NRIs realizing the importance of securing their dependents’ future and choosing Indian term insurance policies.”

Term Insurance for a 35 year old male, non-smoker
Policy term – 30 years

Country

India

UAE

Cover Amount

INR 2 Cr / AED 881 K

AED 900 K

Max Cover Upto

99 years

80 years

Premium in AED

AED 977.8

AED 1,539

Premium in INR

INR 22,193.00

INR 34,892.00

Free Add-ons

Early Payout on Terminal Illness + Waiver of Premium

Price Benefit

36% cheaper in India

Source: Policybazaar.com

NRIs are also eligible for 18% GST exemption* upon purchasing term insurance plans from India, when paying via their NRE accounts. This attractive pricing, along with the availability of longer-term plans, has led to a rise in demand among NRIs, especially from Gulf nations, where 65% of term insurance buyers hail from, with the UAE alone contributing 35%.

Rhishabh Garg, Head of Term Insurance at Policybazaar, adds, “The evolution in the Indian term insurance industry is marked by innovative offerings designed to meet the distinct needs of consumers overseas. The consumer-centric features in term plans from India are increasingly appealing to NRIs, which include return of premium at no extra cost, early pay-outs for terminal illness, premium waivers for permanent disability, and immediate pay-out of up to INR 2 lakhs on claim intimation for immediate obituary expenses.”

The accessibility of these plans is further enhanced through seamless processing for NRIs, whose average annual income exceeds INR 35 lakhs. Insurers now also offer a sum assured of up to 5 crores, ensuring adequate coverage based on Human Life Value (HLV) calculations. NRIs can also leverage Policybazaar’s search and comparison engine to browse the best suitable plans as per their needs and preferences.

With a commitment to providing comprehensive coverage and protection, Policybazaar continues to redefine the landscape of term insurance for NRIs, empowering them to secure their loved one’s future with peace of mind. As NRIs continue to seek comprehensive coverage and value-driven solutions, Policybazaar remains dedicated to delivering innovative term insurance products and services tailored to their evolving needs.

*Tax benefits are subject to change in tax laws

About Policybazaar.com

Policybazaar.com is one of India’s largest insurance marketplace. It is the flagship platform of PB Fintech, which owns the fintech brand, Paisabazaar.com, and lending & insurance marketplace in the UAE region, Policybazaar.ae. Policybazaar.com started with the purpose to educate people on insurance products and with its offerings has addressed the large and highly underpenetrated online insurance markets.

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