November 13, 2015
TraceLink Inc., the world’s largest track and trace network for connecting the Life Sciences supply chain and eliminating counterfeit prescription drugs from the global marketplace, today announced that it has been ranked number 293 on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America. TraceLink, which achieved revenue growth of 236 percent from 2011 to 2014, is one of only 15 software companies from Massachusetts to be ranked on the 2015 Deloitte Technology Fast 500™, and is ranked number seven (7) among the fastest growing software companies headquartered in the state.
TraceLink president and CEO, Shabbir Dahod, cites a massive regulatory and technological transformation taking place within the life sciences industry as the leading driver of the company’s 236 percent revenue growth. “More than 40 countries around the world have instituted new track and trace laws designed to harden the integrity of the global pharmaceutical supply chain,” said Dahod. “These regulations have significant data scalability and network connectivity challenges, and the entire life sciences supply chain must move to a new infrastructure model so that life-saving medicines remain in compliance and aren’t pulled from the market. Our Life Sciences Cloud platform, which serves as the preferred track and trace solution for this industry, continues to fuel our record financial growth. We’re pleased to receive this prestigious recognition.”
“Amid a fierce business climate, there seems to be no shortage of new and established companies that are unlocking a seemingly unlimited potential for growth and advancement through technology’s continued disruption and proliferation across industries,” said Sandra Shirai, principal, Deloitte Consulting LLP and U.S. technology, media and telecommunications leader. “It is inspiring to witness the innovative ways that companies are incorporating emerging technologies for business gains, be it cognitive computing, or the Internet of Things. We congratulate all those ranked on this year’s Fast 500 and look forward to seeing their continued growth into 2016.”
“Through the efforts and utilization of new and emerging technologies from these companies, we are witnessing greater business demands from across almost all industries,” added Jim Atwell, national managing partner of the emerging company practice, Deloitte & Touche LLP. “We look forward to the opportunity to serve these companies as they strive to grow to the next level – be it towards introducing new solutions or entering new markets – and with it make important and long lasting impressions on the technology market as a whole.”
Overall, 2015 Technology Fast 500 companies achieved revenue growth ranging from 109 percent to 21,984 percent from 2011 to 2014, with an average growth of 850 percent.