More than a dozen Colorado companies made Deloitte's 2023 list of the fastest-growing technology businesses.
Deloitte's 2023 Technology Fast 500 list ranks North America's fastest-growing tech, fintech, life sciences, energy, telecommunications and media companies based on their revenue growth percentage from 2019 to 2022.
This year, 14 businesses based in Denver, Englewood, Colorado Springs, Louisville, Thornton, Centennial and Greenwood Village made the recently released list. Last year, 17 businesses in the Centennial State made the list and only nine were on it the year before.
Instead of ranking the top 500 tech companies, Deloitte expanded the list to 541 businesses.
"With accessible networking and early-stage support, Colorado continues to attract and nurture some of the most promising businesses, showcased in this year's list," Alexandra Tune, emerging growth companies leader for Deloitte’s Denver practice, said in an emailed statement. "It's a testament to our state's enduring appeal as a vibrant hub for innovation and growth."
Several Colorado companies on this year's list reported a decline in revenue growth as compared to its growth between 2018 and 2020, as reported on Deloitte's 2022 list. Fluid Truck, for example, reported revenue growth of 2,405% on this year's list and 9,899% on last year's list.
Here are the Centennial State companies that landed on Deloitte's national list this year:
Liberty Broadband Corp. (Nasdaq: LBRDA) came in at No. 28, reporting 6,400% growth over the three-year period. The company owns communications businesses such as Charter Communications and was included on the Denver Business Journal's 2023 list of public companies in Colorado. In 2014, Englewood-based Liberty Broadband spun out of Liberty Media Corp., which recently spun off Atlanta Braves Holdings making the Atlanta Braves a publicly traded company.
At No. 63, Fluid Truck reported a three-year growth of 2,405%, according to Deloitte. The vehicle rental company raised $17.8 million earlier this year and landed on the DBJ's list of the fastest-growing extra-large private companies and Inc. Magazine's list of the 5,000 fastest-growing privately held businesses.
Denver-based Aytu BioPharma's revenue grew by 1,221%, placing the prescription therapeutics company at No. 118 on Deloitte's list. This is company's the third consecutive year landing on the list.
Hotel Engine landed at No. 220 on the list with a revenue growth of 641%. In 2021, the company was valued at $1.3 billion after raising a $65 million Series B. Last year, Hotel Engine expanded internationally and this year, rolled out a new offering for business travelers and hired executives from IBM and Grubhub.
Cloud marketplace for IT professionals Pax8 is No. 248 on the list. The company's revenue grew by 562% between 2019 and 2022, according to Deloitte. Pax8 became a tech unicorn with a valuation of $1.7 billion in April 2022. Pax8 CEO John Street was recently named a most admired CEO winner by the DBJ.
With revenue growth of 476%, Forge Nano landed at No. 281 on Deloitte's list this year. The Thornton-based business's technology allows it to engineer materials to optimize a battery's performance. Named by the DBJ as one of Denver-area's fastest-growing private companies, Forge Nano raised $50 million in June to build a new production facility.
Colorado Springs-based Quantum Metric reported a revenue growth of 395%, coming in at No. 324 on Deloitte's list. The SaaS company helps organizations build better digital products faster. Quantum Metric became a tech unicorn in early 2021, after raising a $200 million Series B.
Coming in at No. 326, Edison Interactive's out-of-home content management system is used for smart devices in hotel rooms, golf carts and rental vehicles. Per Deloitte's list, the company saw its revenue grow by 394% over the three-year period. Edison co-founder and chief revenue officer Nick Stanitz-Harper was a DBJ 40 Under 40 winner this year.
Denver-based Arrive Health landed at No. 371 with revenue growth of 342%, per the ranking. The health tech company aims to reduce friction in health care workflows and improve access to affordable care with its online portal used by patients, providers and care teams.
Career Certified, a Greenwood Village-based education company, reported a 297% revenue growth. Founded in 2005, Career Certified offers a curriculum for pre-licensure, licensure and continuing education for employees and job seekers in careers that require certifications. The company sits at No. 412 on Deloitte's list and was listed as one of the largest Front Range private companies per the DBJ this year.
BillingPlatform's revenue grew by 296%, ranking the company at No. 415 on Deloitte's annual list. BillingPlatform is a billing software provider with tools for contract and account management, invoicing and more. The company raised $10 million in a Series B round in 2019 and has ranked on Deloitte's fastest-growing tech companies list for at least four consecutive years.
With 271% revenue growth, cybersecurity company Swimlane was ranked No. 446 on this year's list. The Louisville-based company pulled in $70 million in Series C funds in July 2022 and $40 million in January 2021.
Per Deloitte's ranking, health care company Zynex's revenue grew by 248% over the last three years. Ranked at No. 478 on this year's list, Zynex also landed on two DBJ lists this year. Zynex signed a new lease for a 43,000-square-foot office in Englewood this year.
Artificial intelligence company Veritone (Nasdaq: VERI) saw its revenue grow 202%, per Deloitte. Landing at No. 540 on this year's list, Veritone works with local and federal government organizations, ESPN, FedEx, Microsoft and Amazon to create new content and analyze existing content.
