Attributes 6782.34% Revenue Growth to innovative Enterprise AI platform
SAN RAMON, CA, November 07, 2019 /24-7PressRelease/ — App Orchid today announced it ranked #14 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 now in its 25th year. App Orchid grew 6782.34% during this period.
App Orchid’s chief executive officer, Krishna Kumar, credits the company’s innovative AI platform that integrates user “tribal knowledge” to create predictive, powerful AI-powered apps to the 6782.34% revenue growth. He said, “We are thrilled to have made the Deloitte’s Technology Fast 500 list and to be ranked the #2 fastest growing company in Silicon Valley. This is a huge testament to our amazing leadership and technical teams that have built an AI platform that helps enterprises quickly solve real and complex business problems, not possible before.”
“This year marks the 25th anniversary of Deloitte’s Technology Fast 500, so we are especially pleased to announce and congratulate the 2019 winners,” said Sandra Shirai, vice chairman, Deloitte LLP, and U.S. technology, media and telecommunications leader. “Once again, we saw innovation across the board, with software companies continuing their dominance of the top ten. It’s always inspiring to see how the Fast 500 companies are transforming business and the world we live and work in.”
“As technology innovation trends towards ‘everything as a service,’ it’s no surprise that software companies dominate the winners list yet again this year,” said Mohana Dissanayake, partner, Deloitte & Touche LLP, and industry leader for technology, media and telecommunications, within Deloitte’s audit and assurance practice. “What’s exciting about celebrating 25 years of the Tech Fast 500 is we now have a quarter century of innovation stories to draw and reflect upon. These are the companies that push boundaries, help organizations become more efficient and productive, and ultimately enable businesses to drive growth and revenue. We congratulate all the well-deserving winners.”
Overall, 2019 Technology Fast 500™ companies achieved revenue growth ranging from 166 percent to 37,458 percent from 2015 to 2018, with median growth of 439 percent.
About Deloitte’s 2019 Technology Fast 500™
Now in its 25th year, Deloitte’s Technology Fast 500 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 2015 to 2018.
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 $US50,000, and current-year operating revenues of at least $US5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
About App Orchid
The App Orchid platform helps enterprises build AI fueled apps for the Energy & Utilities, Insurance and Healthcare industries. The App Orchid platform uses deep learning and natural language processing with industry specific content delivered through knowledge graphs, to create powerful predictive apps. App Orchid blends historical and real-time, structured and unstructured data with user “tribal knowledge” to deliver innovative enterprise apps, including solutions bucketed into four functional areas: AssetThink, CustomerThink, PeopleThink and DocuThink. The Big Data based in-memory technology helps to identify patterns, risks and opportunities previously impossible with traditional analytical tools. A natural language powered user experience interface makes information retrieval as simple as using Google. App Orchid helps enterprises achieve their digital transformation objectives easily through rapid deployment, low cost implementation and minimum disruption across their organization. For more information, please visit www.apporchid.com.
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