Washington, DC (PRWEB) November 13, 2014
Optoro today announced it ranked No. 229 on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Optoro grew 419% percent during this period.
Optoro’s chief executive officer, Tobin Moore, credits last year’s Series B fundraiser, which allowed them to expand their customer base and improve their offerings with the company’s 419% revenue growth. He said, "We're honored to be recognized again by Deloitte as one of the fastest growing technology companies in the U.S. Our team at Optoro has been working hard to provide ground-breaking technology solutions for retailers to better manage their inventory, and we are looking forward to our exciting new product releases and rapid growth to come in the years ahead.”
“The companies ranked on the 2014 Deloitte Technology Fast 500 continue to set the bar for their industry higher each year,” said Eric Openshaw, vice chairman, Deloitte LLP and U.S. technology, media and telecommunications leader. “There are so many exciting products and smart thought leaders driving this list. We congratulate the Fast 500 companies and look forward to seeing them continue their momentum into 2015.”
“For 20 years, the Deloitte Fast 500 rankings have honored the innovation that is part of these companies’ DNA,” added Jim Atwell, national managing partner of the emerging growth company practice, Deloitte & Touche LLP. “We’re glad to be serving these high-growth companies, and helping the technology sector recognize the great strides and transformation these companies are making in their respective areas.”
Optoro previously ranked No. 278 as a Technology Fast 500™ award winner for 2013.
About Deloitte’s 2014 Technology Fast 500™
Technology Fast 500, conducted by Deloitte LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies – both public and private – in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2009 to 2013.
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 five years and be headquartered within North America.
Officially founded in 2008, as a back-end solution for businesses looking to move excess inventory online, Optoro has sought to leverage automation and analytics to work smarter. The company's proprietary, cloud-based software platform OptiTurn launched in February of 2011. In September of 2013, Optoro opened a corporate office in the vibrant Chinatown neighborhood of Washington, D.C., while maintaining a thriving operations headquarters just outside the city in Maryland.