FloQast Ranked a Fastest-Growing Company in North America on the 2021 Deloitte Technology Fast 500™
Nov 22, 2021 | By GlobeNewswire
Attributes More Than 500% Revenue Growth to Its Ability to Enable Accounting Operational Excellence and Make Teams More Collaborative and Efficient
LOS ANGELES, Nov. 22, 2021 — FloQast, a provider of accounting workflow automation software created by accountants for accountants, today was named on the Deloitte Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America, now in its 27th year. FloQast made the list thanks to its 588% growth rate during the most recent three-year period.
"Making the Deloitte Technology Fast 500 once was an honor, but making it two years running is even better because it signals we have set ourselves up for sustained growth," said Mike Whitmire, CPA*, CEO and co-founder of FloQast. “I’m extremely proud of our team’s hard work, and I’m confident that our continued innovation in helping our customers achieve accounting operational excellence will keep us on a strong trajectory for years to come."
FloQast recently reported a 96% year-over-year growth rate in annual recurring revenue for the third quarter of 2021, as well as a 94% renewal rate. The company added more than 135 new customers in Q3, including Revolut, Hopin, Templafy, Gainsight, Credit Sesame, and Vision Solar, bringing its customer count to more than 1,500 globally.
“Each year the Technology Fast 500 shines a light on leading innovators in technology and this year is no exception,” said Paul Silverglate, vice-chair, Deloitte LLP and U.S. technology sector leader. “In the face of innumerable challenges resulting from the pandemic, the best and brightest were able to pivot, reinvent and transform and grow. We celebrate the winning organizations and especially the talented employees driving their success.”
“The pandemic has underscored the urgent need for tech solutions in a variety of areas across health care, fintech, energy tech, entertainment, to name a few, so reliance on innovators like the winners of the Technology Fast 500 is more important than ever,” said Christie Simons, partner, Deloitte & Touche LLP and industry leader for technology, media and telecommunications within Deloitte’s audit & assurance practice. “These companies are not only at the cutting edge, transforming the way we do business, but most importantly, recognize the strategic importance of ongoing innovation, especially in the ever-changing world of technology.”
FloQast was also a Technology Fast 500™ award winner for 2020. Overall, 2021 Technology Fast 500™ companies achieved revenue growth ranging from 212% to 87,037% from 2017 to 2020, with median growth of 521%.
About the 2021 Deloitte Technology Fast 500™
Now in its 27th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, 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 2017 to 2020.
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 US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
A Deloitte Technology Fast 500 company for 2020 and 2021, FloQast delivers workflow automation software enabling organizations to operationalize accounting excellence. Trusted by more than 1,500 accounting teams – including Twilio, CoinBase, Los Angeles Lakers, Zoom, and SnowFlake – FloQast was built by accountants, for accountants to enhance the way accounting teams work. FloQast enables customers to streamline processes such as automated reconciliations, documentation requests, and other workflows that impact the month-end close, financial reporting, and payroll, and is consistently rated #1 across all user review sites. Learn more at FloQast.com.
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BOCA Communications for FloQast