VendEngine, a cloud-based FinTech provider focused on the corrections industry, was ranked 291st on Deloitte’s Technology Fast 500, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences and energy-tech companies in North America currently in its 26th year.
The company finished second overall across the state of Tennessee. Deloitte noted VendEngine’s 372% in a three-year period.
“For more than 25 years, we’ve been honoring companies that define the cutting edge and this year’s Technology Fast 500 list is proof positive that technology – from software and digital media platforms, to biotech – truly does permeate so many facets of our lives,” said Paul Silverglate, vice chairman of Deloitte LLP and U.S. technology sector leader. “We congratulate this year’s winners, especially during a time when innovation is needed more than ever to address the monumental challenges posed by the pandemic.”
Overall, 2020 Technology Fast 500 companies achieved revenue growth ranging from 175% to 106,508% from 2016 to 2019, with median growth of 450%.
“This is a significant accomplishment for VendEngine as we continue our rapid growth in the midst of a challenging coronavirus economy,” said Silas Deane, president and CEO of VendEngine. “Deloitte’s fastest-growing technology rankings is the gold standard of tech growth lists, and we are honored by the recognition as we chart our future in a rapidly evolving FinTech marketplace.”
VendEngine’s core suite of business applications include financial accounting, trust fund management, commissary, communications, and electronic payment solutions to the government sector and across the corrections industry.
"Each year the Technology Fast 500 listing validates how important technology innovation is to our daily lives. It was interesting to see this year that while software companies continued to dominate, biotech companies rose to the top of the winners list for the first time, demonstrating that new categories of innovation are accelerating in the pursuit of making life easier, safer and more productive,” said Mohana Dissanayake, partner with Deloitte & Touche and industry leader for technology, media and telecommunications within Deloitte’s audit and assurance practice. “We extend sincere congratulations to these well-deserved winners – who all embody a spirit of curiosity, and a never-ending commitment to making technology advancements possible.”