Deloitte Unveils 2020 North America Technology Fast 500 Rankings – Press Release

Following is a summary of the 2020 ranking by regions with a significant concentration of winners:

LocationPercentage of ListFastest-Growing Company in the RegionOverall Company RankingDominant Sectors in Location & Relevant %
Silicon Valley20%Ultragenyx Pharmaceutical Inc.2Software 79%
New York Metro Area13%Cara Therapeutics Inc.9Software 68%; Biotechnology/pharmaceutical 16%
New England7%Transmit Security5Software 54%; Biotechnology/pharmaceutical 43%
Greater Washington, D.C.6%HUNGRY Marketplace Inc.18Software 72%
Greater Los Angeles Area6%Arrowhead Pharmaceuticals Inc.1Software 73%; Biotechnology/pharmaceutical 17%


Software continues to dominate for the 25th straight year
Software companies continue to deliver the highest growth rates for the 25th straight year, representing 71% of the entire list, the highest-ever percentage in the history of the rankings. Of the software companies on the list, digital platforms (33%) and enterprise infrastructure and productivity (23%) companies comprise the leading sub-sectors, followed by the fintech sub-sector at 15%. Since the creation of the rankings, software companies have consistently made up the majority of the winners, with a median growth rate of 465% in 2020.

Biotechnology/pharmaceutical companies make up the second most prevalent sector in this year’s rankings, accounting for 14% of the Fast 500 companies and achieving a median growth rate of 426% in 2020. Digital content/media/entertainment companies rank third at 5% of the list with a median growth rate of 292%.

The Technology Fast 500 by industry sector:

SectorPercentageSector LeaderMedian Revenue Growth (2016 to 2019)
Software71%Branch Metrics465%
Biotechnology/pharmaceutical14%Arrowhead Pharmaceuticals Inc.426%
Digital content/media/entertainment5%Freestar292%
Medical devices4%Velano Vascular370%
Electronic devices/hardware3%FIXD683%
Communications/networking2%AUDIENCEX378%
Energy tech1%NatGasHub.com525%


Four out of five companies received venture backing
In the 2020 Fast 500 rankings, 81% of the companies were backed by venture capital at some point in their company history. Notably, 26 of the top 30 companies on the Technology Fast 500 in 2020 received venture funding.

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