TORONTO, ON–(November 13, 2015) – Symbility Solutions Inc. (TSX VENTURE: SY), a global provider of cloud-based and mobile-enabled claims technology for the property and health insurance industries, is proud to announce that it was ranked 34 on Deloitte’s Technology Fast 50™ and 277 on Deloitte’s Technology 500™ awards for technological innovation, entrepreneurship, rapid growth and leadership, based on revenue growth of 250 percent from 2011 to 2014.
Now in its 18th year, the Deloitte Technology Fast 50™ program celebrates leaders in the Canadian technology industry and tracks the successful growth of Canadian-grown leaders. The program augments the broader Deloitte North American Technology Fast 500™ initiative with winners automatically eligible for this elite ranking. To qualify for the Deloitte Technology Fast 50™ ranking, companies must have been in business for at least four years, have revenues of at least $5 million, be headquartered in Canada, own proprietary technology, conduct research and development activities in Canada and invest a minimum of 5 percent of gross revenues in R&D.
James Swayze, CEO of Symbility Solutions commented, “We are proud to be recognized for the fourth year in a row by the Deloitte Technology Fast 500™ as one of the leading technology companies in North America and to be named on Deloitte’s Technology Fast 50™ for a third consecutive year. With the global insurance marketplace facing more disruption than any other commercial sector, our international expansion is fueling this continued growth and Symbility is well positioned for further expansion in the next five years.”
“Fast 50 companies are innovators that transform great ideas into stunning realities,” said Robert Nardi, Technology, Media and Telecommunications Managing Partner for Deloitte Canada. “Their passion and determination makes them all inspiring success stories. They are vital to the Canadian technology sector.”
Symbility has received a number of awards and accolades in 2015, in addition to Deloitte’s Technology Fast 50™ and Deloitte’s North American Technology Fast 500™rankings. These include rankings in the PROFIT 500 of Canada’s Fastest-Growing Companies and the Branham300 Listing of Top ICT Companies in Canada.
About the Deloitte Technology Fast 50™
The Deloitte Technology Fast 50™ program is Canada’s pre-eminent technology awards program. Celebrating business growth, innovation and entrepreneurship, the program features three distinct categories including the Technology Fast 50™ Ranking, Companies-to-Watch Awards (early-stage Canadian tech companies in business less than four years, with the potential to be a future Deloitte Technology Fast 50™ candidate) and the Leadership Awards (companies that demonstrate technological leadership and innovation within the industry.) Program sponsors include Deloitte, Bank of Montreal, Bennett Jones, OMERS Ventures and Vistara Capital Partners. For further information, visit www.fast50.ca.
About Deloitte’s 2015 Technology Fast 500™
Technology Fast 500, conducted by Deloitte & Touche LLP, 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 2011 to 2014.
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 or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of four years, and be headquartered within North America.
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