Professional services firm Deloitte (News - Alert) releases its Technology Fast 500 study every year to showcase the fastest growing companies that operate in the markets of technology, media, communications, life sciences, and clean technology. Companies that have existed for at least five years in North America and have an operating budget of at least $50,000 USD or CD are eligible for inclusion in the study.
This week, AtTask, a provider of cloud-based enterprise work management software, announced that it has made the list for the second year in a row. AtTask cited its rapid growth of subscriptions -- 66 percent year-over-year from Q2 2013 to Q2 2014 -- as the reason for the honor. The enterprise work management firm said it ended the second quarter this year with 108 clients that paid over $100,000 in recurring revenue and that it secured its first-ever seven-figure transaction.
Eric Morgan, CEO of AtTask, commented on his company's growth and on the Deloitte study.
“AtTask has experienced amazing growth over the past five years,” Morgan said. “Not only have we been recognized on a local level, but we are among top-tier companies on a national level by focusing on helping our customers solve the day-to-day challenges of an ever-increasingly complex work load.”
Eric Openshaw, vice chairman of Deloitte LLP, also said the companies that make the Technology Fast 500 list are among the leaders in their markets. Even though they are the companies which are growing the fastest, they are not necessarily the largest or most established entities out there. However, they tend to be the ones driving innovation because they have substantial revenue and enough years in their markets to know how to navigate any pitfalls. Openshaw said the products released from such fast-growing companies are “exciting” and that there are many “smart thought leaders” driving growth of their individual businesses and the markets as a whole.
AtTask, for its part, says the rapid growth in recent years points to demand for enterprise work management products. Morgan hinted that the software AtTask produces attempts to contain the chaos that businesses face every day by combining project management, workflow, and social collaboration into the realm of a single piece of software.