Improved Access to Capital and Good Valuations Keep Technology Companies in Canada
First-time winners take top two spots in Deloitte's Technology Fast 50
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 11/13/14 -- Today, Deloitte announced the winners of its . Companies are selected for innovation, entrepreneurship, leadership and revenue growth over a five-year period. This year's Fast 50 award winners achieved an average five-year growth rate of 4,736%, a significant increase from last year's growth rate of 832%. Winners of the Companies-to-Watch (CTW) and Leadership Award categories were also unveiled.
Making its debut in the top spot of the 2014 Fast 50 list, with five-year revenue growth of 69,800%, is Toronto-based digital media company, Chango. Established in 2008, Chango is an advertising platform that uses real time user data to implement targeted marketing campaigns for its clients to acquire new customers, retarget site visitors and build brand awareness.
In second place is Vancouver-based HootSuite with a five year growth rate of 56,514%, making its debut on the Fast50 list. Ottawa-based Shopify takes the third spot with a five year growth rate of 16,759%.
"The achievements of this year's Fast 50 recipients are an indication that Canadian technology companies can excel here on home soil," said Robert Nardi, Partner and National Technology Media & Telecommunications Leader for Deloitte in Canada. "Fast-growing companies used to look solely to the US to secure sources of capital when domestic venture capital dried up after 2000, but the pendulum is now swinging back into balance. That is the result of recently added investments to the Canadian technology investing sector. "
Deloitte's annual survey of CEOs of Technology Fast 50 companies found that a strong majority (89%) of respondents believe the ability to access capital for technology companies has gotten better or remained the same in the past five years. Almost half of respondents (49%) agree that the various levels of government in Canada do enough to help Canadian tech companies, although that is down from last year's number of 72%.
"Entrepreneurs can get good valuations in Canada," said Pascal Lamoureux, Partner and Leader for Deloitte's Fast 50 program. "With the right business model, combined with support from investors and government, they will stay."
Despite this, CEOs of Technology Fast 50 companies continue to face similar talent challenges as last year. Finding the talent that is needed and attracting the right talent remain as the two most important talent challenges.
Cybersecurity: Greater attention needed
According to the survey, 69% of Fast 50 CEOs believe the current frequency and severity of cyberattacks are worse than they have been in the past. Respondents felt they were doing well (22%) or above average (43%) in taking the right steps to protect against cyberattacks, yet only about half (52%) have a cyber-threat intelligence program in place. In fact, almost half (49%) of respondents have not conducted an independent review of its current cybersecurity program. The data shows that companies may believe that it's taking the right steps to protect itself from attacks, but greater attention is needed to ensure the right programs are in place to gauge the effectiveness and maturity of cybersecurity programs. (1)
Winner highlights:
A complete list winners in the Technology Fast 50, Companies-to-Watch and Leadership Award categories is available .
About Deloitte
Deloitte, one of Canada's leading professional services firms, provides audit, tax, consulting, and financial advisory services. Deloitte LLP, an Ontario limited liability partnership, is the Canadian member firm of Deloitte Touche Tohmatsu Limited.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.
(1) The survey respondents are largely not in the cybersecurity field, but the views of a select group of fast growing technology companies provides a unique data set that likely indicates industry trends.
Contacts:
Jeannie Tsang
Deloitte
416-643-8084
Marilyne Plouffe
Deloitte
514-393-5471
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Datum: 13.11.2014 - 10:00 Uhr
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