11 from NJ rank among Deloitte’s 500 fastest-growing tech companies

Kimberly Redmond//November 16, 2022

11 from NJ rank among Deloitte’s 500 fastest-growing tech companies

Kimberly Redmond//November 16, 2022

Eleven businesses from New Jersey rank among the 500 fastest-growing technology companies in North America.

Released Nov. 16 by Deloitte, the North America Technology Fast 500 list, now in its 28th year, was compiled based on percentage fiscal year revenue growth from 2018 to 2021 for firms operating in the technology, media, telecommunications, life scenes, fintech and energy tech sectors.

Overall, the companies – which represent more than 38 states and provinces – achieved revenue growth ranging from 241% to 125,138% over that three-year time frame, with a median growth rate of 611%.

Insmed's headquarters is a 117,000-square-foot building located at 700 U.S. Highway 202/206 in Bridgewater in Somerset County.
Insmed in Bridgewater was one of 11 New Jersey companies to make Deloitte’s the North America Technology Fast 500 list. – EQT EXETER

For this year’s list, the top company was Vir Biotechnology Inc., a San Francisco-based life sciences company. Software and services companies Takeoff Technologies in Waltham, Mass., and Axonius in New York City took the second and third spots, respectively.

New Jersey companies included in the Fast 500:
20. Kiswe, New Providence – Software & services (7,638%)
41. Attentive, Hoboken – Software & services (4,110%)
43. DriveWealth, Jersey City – Fintech (3,911%)
64. Semperis, Hoboken – Software & services (2,826%)
90. Insmed Inc., Bridgewater – Life sciences (1,816%)
125. Apprentice.io, Jersey City – Software & services (1,159%)
198. OwnBackup, Englewood Cliffs – Software & services (752%)
221. Avidon Health, Cranford – Life sciences (693%)
257. AccuTitle, Ship Bottom – Software & services (583%)
263. Accely Inc., Avenel – Software & services (569%)
365. ADMA Biologics Inc. – Ramsey, Life sciences (377%)

“The Deloitte Technology Fast 500 winners shine a light on the impressive innovation and entrepreneurship that we see in the Garden State,” said Paul Krieger, New Jersey managing partner, Deloitte LLP. “New Jersey attracts high-caliber talent and has a great infrastructure for growth. Despite a challenging year, these companies have made the most of it.”

When it comes to regional representation, California’s Bay Area led the pack, making up 20% of the list, followed by the New York City tri-state area (12%), New England (6%), Greater Washington D.C. (5%), Washington State (5%) and Texas (5%).

Altogether, software and services companies dominated the list for the 27th year in a row, representing 61% of companies, while life sciences and fintech rounded out the top three industry categories with 19% and 9% of total winners, respectively.

Venture capital backing continued to be a winning strategy this year, with 83% of the companies listed backed by venture capital or private equity funding at some point in their company history, up from 81% last year, according to Deloitte.

“As the past year has shown us, innovation in important areas such as life sciences is critical to addressing infectious disease and other global health issues,” Paul Silverglate, vice chair, Deloitte LLP and U.S. technology sector leader, said. “In addition, technology must keep pace with ever-changing consumer and corporate demands for faster, safer and more efficient solutions to new societal challenges. Each year I am in awe of the immense talent the Technology Fast 500 rankings reveal, confirming the winners’ relentless pursuit of creativity and their ability to solve real-world problems that benefit us all.”