Auckland, New Zealand - Invenco Group has announced that it ranked Number 205 on the Deloitte Technology Fast 500™ Asia Pacific 2018, a ranking of the 500 fastest growing technology companies in Asia Pacific. Rankings are based on percentage revenue growth over three years. Invenco grew 370% percent during this period.
Invenco’s CEO, Gavin Lennox, credits a strong performance in the US market and growing recurring revenue streams, with the company’s 370% revenue growth over the past three years. He said, "Invenco is a relatively mature company in the New Zealand technology sector, having been around since 2009. To continue to deliver this level of growth year-on-year is a tribute to our global team who collectively work incredibly hard to achieve this result."
“Because Deloitte Technology Fast 500™ Asia Pacific measures sustained revenue growth over three years, being one of the 500™ fastest growing technology companies in Asia Pacific is an impressive achievement,” said Toshifumi Kusunoki , Deloitte Leader, Technology Fast 500™ Asia Pacific program. ”Invenco deserves credit for its remarkable growth.”
Invenco previously ranked 358 on the 2017 Deloitte Technology Fast 500 - with this year's ranking showing a jump of over 150 places. In addition to ranking on the Deloitte Technology Fast 500™, Invenco ranked 16th on the New Zealand Deloitte Technology Fast 50, which is a ranking of the 50 fastest growing technology firms in New Zealand and 5th on the Masters of Growth for showing exceptional growth over a five year period.
Overall, companies that ranked on the Deloitte Technology Fast 500™ Asia Pacific 2018 program had an average growth rate of 600 percent—the highest average growth rate since 2008. Deloitte Technology Fast 500™ Asia Pacific selection and qualifications The Technology Fast 500™ list is compiled from the Deloitte Asia Pacific Technology Fast 50 programs, nominations submitted directly to the Technology Fast 500™, and public company database research. To qualify for the Technology Fast 500™, entrants must have had base-year operating revenues of at least US$ 50,000.
Entrants must also be public or private companies headquartered in Asia Pacific and must be a “technology company,” defined as a company that develops or owns proprietary technology that contributes to a significant portion of the company's operating revenues; or manufactures a technology-related product; or devotes a high percentage of effort to the research and development of technology. Using other companies' technology in a unique way does not qualify.