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SAN RAMON, CA, November 19, 2020 /24-7PressRelease/ -- App Orchid today announced it ranked 55 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 now in its 26th year. App Orchid grew 2670% during this period.
App Orchid's chief executive officer, Vaibhav Nadgauda, credits the company's innovative AI platform to create predictive, powerful AI powered apps to the 2670% revenue growth. He said, "We are thrilled to have made the Deloitte's Technology Fast 500 list and to be ranked as the #12th fastest growing company in Silicon Valley. This is a huge testament to our amazing team that has built transformative AI solutions such as ContractAI on our end-to-end enterprise AI platform."
"For more than 25 years, we've been honoring companies that define the cutting edge and this year's Technology Fast 500 list is proof positive that technology — from software and digital media platforms, to biotech — truly does permeate so many facets of our lives," said Paul Silverglate, vice chairman, Deloitte LLP and U.S. technology sector leader. "We congratulate this year's winners, especially during a time when innovation is needed more than ever to address the monumental challenges posed by the pandemic."
"Each year the Technology Fast 500 listing validates how important technology innovation is to our daily lives. It was interesting to see this year that while software companies continued to dominate, biotech companies rose to the top of the winners list for the first time, demonstrating that new categories of innovation are accelerating in the pursuit of making life easier, safer and more productive," said Mohana Dissanayake, partner, Deloitte & Touche LLP, and industry leader for technology, media and telecommunications, within Deloitte's audit and assurance practice. "We extend sincere congratulations to these well-deserved winners — who all embody a spirit of curiosity, and a never-ending commitment to making technology advancements possible."
App Orchid previously ranked #2 as a Technology Fast 500™ award winner for 2019.
Overall, 2020 Technology Fast 500™ companies achieved revenue growth ranging from 175% to 106,508% from 2016 to 2019, with median growth of 450%.
About Deloitte's 2020 Technology Fast 500™
Now in its 26th year, Deloitte's Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2016 to 2019.
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 $US50,000, and current-year operating revenues of at least $US5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ("DTTL"), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as "Deloitte Global") does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the "Deloitte" name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.
About App Orchid
The App Orchid platform helps enterprises build AI fueled apps for the Energy, Utilities and Insurance industries. The App Orchid platform uses deep learning and natural language processing with industry specific content delivered through knowledge graphs, to create powerful predictive apps. App Orchid blends historical and real-time, structured and unstructured data with user "tribal knowledge" to deliver innovative enterprise apps, including solutions such as ContractAI, AssetThink, CustomerThink and DocuThink. App Orchid helps enterprises achieve their digital transformation objectives easily through rapid deployment, low cost implementation and minimum disruption across their organization. For more information, please visit www.apporchid.com.
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