November 8, 2023 | Press Releases
Montreal, Canada, November 8, 2023 — Hivestack received recognition as part of the 2023 Deloitte Technology Fast 50™ awards program for its rapid revenue growth, entrepreneurial spirit, and bold innovation.
Celebrating its 26th anniversary, the program recognizes Canada’s 50 fastest-growing technology companies based on the highest revenue-growth percentage over the past four years. Hivestack ranks 11th with a 1,959% percent in revenue growth from 2019 to 2022.
Deloitte’s Technology Fast 50 program winners consist of public and private companies in the technology sector that are transforming the industry. The program runs alongside the broader Deloitte North American Technology Fast 500™, with winners automatically eligible for this elite ranking.
Hivestack's CEO Andreas Soupliotis, credits its market readiness and innovative, purpose-built technology as well as its service excellence with the company's 1,959% percent revenue growth. Soupliotis said, “Hivestack has been laser focused on developing the most cutting-edge technology for our partners across the entire digital out of home (DOOH) ecosystem. Not only has this allowed for us to achieve incredible growth milestones, but it has also allowed for our valued partners to reach their desired business outcomes. It is an incredible honour to be recognized on the 2023 Deloitte Technology Fast 50™ awards program - this accolade would not be possible without the commitment from our talented team and industry partners.”
“It’s inspiring how this year’s exceptional cohort of Technology Fast 50 winners have delivered outstanding revenue growth even in the face of prevailing uncertainties in the economy and marketplace,” commented Anders McKenzie, partner and national leader for the Technology Fast 50 program at Deloitte Canada. “Fueled by exemplary innovation, creativity, resilience, adaptability, along with superior business leadership, these companies are paving the way as catalysts in their respective sectors and delivering growth and value to the Canadian economy both at home and beyond.”
To qualify for the Deloitte Technology Fast 50 ranking, companies must have been in business for at least four years, have a minimum revenue of $50,000 in 2019 and $5 million in 2022, be headquartered in Canada, own proprietary technology, conduct research, and development activities in Canada and invest a minimum of five percent of gross revenues in R&D.