Four Arlington Startups Rank Among North America’s Top 500 Fastest-Growing Tech Companies

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Four Arlington-based startups have made it onto Deloitte’s 2023 North America Technology Fast 500 Rankings list, released last week.

They are:

  • 29. GoTab, with 6,080% growth
  • 372. Brazen, with 342% growth
  • 423. Interos, with 287% growth
  • 525. Govini, with 212% growth

Awardees were selected based on percentage fiscal year revenue growth from 2019 to 2022, which ranged anywhere from 201% to 222,189% but had an average growth rate of 1,934% and a median growth rate of 497%, per a press release.

“Each year, we look forward to reviewing the progress and innovations of our Technology Fast 500 winners,” said Paul Silverglate, vice chair, Deloitte LLP and U.S. technology sector leader, in a statement. “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.”

All four Arlington companies have seen big changes recently. For most, the challenges Covid presented became fuel for their achievements.

GoTab’s streamlined ordering platform tailored to customers and restaurant staff rocketed into the public eye during Covid, when venues had to adapt to contact-less interactions. It has since launched new platformsraised millions and expanded into Canada.

The fintech company Interos was founded in 2005 but its mission — using artificial intelligence-powered software to help businesses identify disruptions to their supply chain — became especially relevant during Covid, which caused trade restrictions and product shortages.

In 2021, Interos became Arlington’s first private startup to reach “unicorn” status, or a $1 billion valuation. Between 2019 and 2021, the company grew by 303% and has had its platform used by NASA, the U.S Department of Defense and several Fortune 500 companies.

Brazen provides virtual and in-person recruiting solutions to speed up the hiring process and works with some of the top brands in the world, including 15% of the Fortune 100. It has been expanding since it raised $3 million in 2019, but saw a marked increase in interest during Covid, when virtual events became the norm.

It was recently acquired by the cloud-based talent acquisition software provider Radancy.

Govini uses data and machine learning to advance U.S. competitiveness and combat eroding military dominance. Its claims to fame include a $400 million indefinite delivery, indefinite quantity, 5-year contract for data and analytics with the Pentagon, which it landed in 2019.

This year, it launched Ark.ai, which uses AI and machine learning to scan commercially available data for information to address “challenges in supply chain, nuclear modernization, acquisition, procurement, science and technology and foreign influence,” per a press release.

The company tied its recent growth not to Covid but with other current events: China’s rise to power and Russia’s war with Ukraine.

“In the face of these threats, national security leaders have realized that maximizing the Defense Acquisition Process is the first step to building an enduring military advantage,” Govini CEO Tara Murphy Dougherty said in another press release.

“This shift is evident in our growth and the widespread adoption of our flagship product, Ark.ai, across the Department of Defense,” she continued. “Govini remains deeply committed to equipping the defense community with a platform that answers the growing call for rapid, data-informed acquisition.”

The four Arlington startups comprise p 16% of the D.C.-area startups that made it on the list. Overall, 5%, or 25, of recognized startups are based in the D.C. area. Other tech hubs dominated the list, especially the Bay Area in California.

All four share another characteristic — they provide software and services, the leading industry in the rankings.

“While software and services and life sciences continue to dominate the top 10, we are encouraged to see other categories making their mark,” Silverglate said. “Congratulations to all the winners who show us how creativity, hard work and perseverance can lead to success.”

Source : Arlnow