Third Consecutive Year on the Deloitte Fast 500 List for TraceLink, with 611 Percent Revenue Growth
TraceLink Inc., the World’s Largest Track and Trace Network for connecting the life sciences supply chain and providing real-time information sharing for better patient outcomes, today announced it ranked #177 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. This is the third consecutive year that TraceLink has been recognized by Deloitte as one of the fastest growing U.S. technology companies.
TraceLink, which achieved 611 percent growth from 2013 to 2016, is the #6 fastest growing software company headquartered in Massachusetts and the #13 fastest growing company overall in the state, to be ranked on the 2017 Deloitte Technology Fast 500.
As the pharmaceutical supply chain races to comply with global track and trace regulations and companies look for long-term strategies to optimize the value from their significant drug serialization investments, more than 700 companies turn to TraceLink, the industry’s largest track and trace network connecting over 260,000 trading partners, to provide global connectivity, visibility, and traceability of pharmaceutical products. TraceLink’s President and Chief Executive Officer, Shabbir Dahod, attributes the 611 percent revenue growth to the Company’s enduring market leadership and its unique, differentiated software solution, as well as the industry’s critical need for TraceLink’s expansive, interoperable network. “We are honored to be named as one of the nation’s fastest growing companies for the third year in a row. This recognition further exemplifies TraceLink’s prominence as the leading solution provider for the pharmaceutical supply chain and our ability to consistently listen to our customers and deliver on their needs.”
“The Deloitte 2017 North America Technology Fast 500 winners underscore the impact of technological innovation and world class customer service in driving growth, in a fiercely competitive environment,” said Sandra Shirai, vice chairman, Deloitte Consulting LLP and U.S. technology, media and telecommunications leader. “These companies are on the cutting edge and are transforming the way we do business. We extend our sincere congratulations to all the winners for achieving remarkable growth while delivering new services and experiences for their customers.”
“Emerging growth companies are powering innovation in the broader economy. The growth rates delivered by the companies on this year’s North America Technology Fast 500 ranking are a bright spot for the capital markets and a strong indicator that the emerging growth technology sector will continue to deliver a strong return on investment,” said Heather Gates, national managing director of Deloitte & Touche LLP’s emerging growth company practice. “Deloitte is dedicated to supporting the best and brightest companies of the future in the emerging growth company sector. We are proud to acknowledge the significant accomplishments of this year’s Fast 500 winners.”
Overall, 2017 Technology Fast 500™ companies achieved revenue growth ranging from 137 percent to 59,093 percent from 2013 to 2016, with median growth of 378 percent.
About Deloitte’s 2017 Technology Fast 500™
Deloitte’s Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2013 to 2016.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000 USD, and current-year operating revenues of at least $5 million USD. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
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