9 Colorado companies rank on Deloitte's list of fastest-growing tech businesses

Deloitte released its annual list of the fastest-growing tech companies in North America this week, and nine Colorado companies made the list.

Deloitte’s 2021 North America Technology Fast 500 measures the fastest-growing companies in technology, media, telecommunications, life sciences, financial technology and energy tech sectors. Fast 500 awardees are selected based on percentage of fiscal year revenue growth from 2017 to 2010.

In total, 2021 Technology Fast 500 companies achieved revenue growth ranging from 212% to 87,037% over the three-year time frame, with a median growth rate of 521%.

“For years, we’ve been honoring companies that define cutting-edge advancements in Colorado,” said Chris Schmidt, Colorado managing partner, Deloitte LLP, in a statement. “It’s always inspiring to see how applicants in this state are transforming business and the world. We commend these companies on their success and are eager to see their future growth and how they continue to foster innovation and technological disruption.”

Last year, Colorado had eight representatives on the list, including repeat honorees Quantum Metric, BillingPlatform, Liqid and Zynex Medical.

Denver-based digital mortgage startup Maxwell topped the list for Colorado companies at No. 65 with 2,513% growth. Maxwell, which was founded in 2015, has created a platform for local and regional lenders aimed at introducing more transparency and equality to the mortgage market.

The company recently raised $52.5 million in new funding, led by Fin VC with participation from Wells Fargo Strategic Capital, along with existing investors Prudence, Rotor Capital and TTV Capital.

Here is the breakdown of the nine Colorado companies on Deloitte’s list, followed by their three-year revenue growth:

Software companies represented 73% of the entire list this year, while biotechnology and pharmaceutical companies were the second most prevalent sector in this year’s rankings at 14%. California-based medical technology company Axonics, Inc. took the top spot with a growth rate of 87,037% from 2017 to 2020.