The Deloitte Technology Fast 500, an annual list of fast-growing technology companies in North America, includes four Minnesota businesses this year.
Arctic Wolf, Inspire Medical Services Inc., Branch, and Total Expert Inc. were among the companies to make Deloitte's 2022 list.
Deloitte selects companies for the list based on percentage revenue growth from 2018 to 2021. Companies must also have base-year operating revenues of at least $50,000 and current-year operating revenues of at least $5 million.
Fast 500 companies this year grew revenue ranging from 241% to 125,138% over that period, with a median growth rate of 611%.
You can see the complete list here.
"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,” said Paul Silverglate, vice chair and U.S. technology sector leader for Deloitte
- Minneapolis-based Branch, ranking No. 69, is a financial services company. It reported 2,417% growth and this is its second consecutive year making the Fast 500. Branch’s founder and CEO, Atif Siddiqi was listed in the Business Journal’s 40 Under 40 for the class of 2022. The company records having over 160 employees on LinkedIn.
- Eden Prairie-based Arctic Wolf, ranking No. 161, is a software security company run by CEO Nick Schneider, who also was named to this year’s 40 Under 40. Under his leadership, the company reported 907% revenue growth and grew its workforce from 200 employees in 2019 to over 1900 today. The Business Journal lists this company as one of the Best Places to Work in 2022.
- Golden Valley-based Inspire Medical Systems (NYSE: INSP), ranking No. 378, has developed an FDA-approved sleep apnea device. The company reported 361% growth and revenue of $109.2 million in the third quarter of 2022. As of December 2021, it reported 485 employees. Its CEO Tim Herbert ranked 28th on the Business Journal’s 2021 CEO Compensation List.
- St. Louis Park-based Total Expert Inc., ranking No. 494, is a marketing and customer engagement platform for the financial industry. It reported 242% growth and 2021 revenue of $40.4 million. It is listed in the Business Journals’ Fast 50 in 2022. It has over 300 employees and is led by Founder and CEO Joe Welu.
Wisconsin has a single company on the Deloitte list — but its roots are in Minnesota. Madison-based Exact Sciences Corp. (NYSE: EXAS), ranking No. 432, uses cancer-fight technology was developed at the Mayo Clinic. The company reported 289% growth and has revenue of $1.8 billion. It has over 6,000 employees, although the Milwaukee Business Journal reported a 5% layoff earlier this month.
