Katalon Ranked Number 46 Fastest-Growing Company in North America on the 2023 Deloitte Technology Fast 500 (TM)
Attributes 3,482% revenue growth to AI innovation within growing software testing market
ATLANTA, November 8, 2023 (Newswire.com) - Katalon, the leading provider of the most modern, comprehensive, quality management platform, today announced it ranked 46th on the Deloitte Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America, now in its 29th year. Katalon grew its revenue by 3,482% from 2019 to 2022.
Katalon’s chief executive officer Vu Lam credits the company’s growth to its investment in AI to leverage the $40 billion software testing market, and developing early adoption among the software testing community with a product that was simple to implement and leverage.
“An early key to our success was building a scalable, community-led product that empowered testing engineers to transition from manual to automated testing,” said Vu. “Enterprises of all sizes have come to recognize that software delivering great customer experiences is critical to growing their business, and Katalon has been there to consolidate point testing solutions into a single, comprehensive AI-powered platform for releasing higher-quality code at speed. Being on the Deloitte Technology Fast 500 is a testament to our dedicated employees’ hard work and innovation, and we are truly honored with this recognition.”
“Each year we look forward to reviewing the progress and innovations of our Technology Fast 500 winners. This year is especially celebratory as we expand the number of winners to better represent just how many companies are developing new ideas to progress our society and the world, especially during a slow economy,” said Paul Silverglate, vice chair, Deloitte LLP and U.S. technology sector leader. “While software and services and life sciences continue to dominate the top 10, we are encouraged to see other categories making their mark. Congratulations to all the winners who show us how creativity, hard work and perseverance can lead to success.”
“As for growing companies, it’s always rewarding to be recognized for the ongoing commitment it takes to navigate obstacles, transform when necessary and ultimately create a thriving business,” said Christie Simons, partner, Deloitte & Touche LLP and industry leader for technology, media and telecommunications within Deloitte’s audit and assurance practice. “Over the nearly 30 years we’ve been compiling the Technology Fast 500, we’ve seen new categories emerge, growth rates explode, and certain regional markets shine from the bright talent they attract. We are proud of all the winners for achieving this well-deserved honor.”
Overall, the 2023 Technology Fast 500 companies achieved revenue growth ranging from 201% to 222,189% over the three-year time frame from 2019 to 2022, with an average growth rate of 1,934% and a median growth rate of 497%.
Now in its 29th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, 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 2019 to 2022.
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 US $50,000, and current-year operating revenues of at least US $5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
Katalon is a comprehensive, all-in-one quality management platform that enables quality assurance, DevOps and software teams of any size to deliver world-class customer experiences faster, easier, and more efficiently. The platform accelerates end-to-end software development by powering the authoring, execution, and insights of test automation across any app or environment, and flexibly integrates across a team's architecture and processes. Founded in 2016 and servicing customers in over 80 countries, Katalon is headquartered in Atlanta, Georgia. For more info about Katalon, please visit katalon.com.
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world’s most admired brands, including nearly 90% of the Fortune 500® and more than 8,500 U.S.-based private companies. At Deloitte, we strive to live our purpose of making an impact that matters by creating trust and confidence in a more equitable society. We leverage our unique blend of business acumen, command of technology, and strategic technology alliances to advise our clients across industries as they build their future. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Bringing more than 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte’s approximately 457,000 people worldwide connect for impact at www.deloitte.com.
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Source: Katalon, Inc.