Attributes 447% Revenue Growth to Rapid Adoption of Bitsight Security Ratings Across Enterprise, Government, Cyber Insurance and Investor Communities
BOSTON, MASS., November 7, 2019 — Bitsight, the Standard in Security Ratings, today announced it ranks #246 on the Deloitte Technology Fast 500™ list of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America. Bitsight grew 447% during the fiscal period between 2015 and 2018.
Bitsight’s Chief Executive Officer, Tom Turner, credits product and service innovation, a strong leadership team, and heightening recognition of the importance of cyber risk management and security performance among C-suite and Board-level executives with driving increasing adoption of the Bitsight Security Ratings Platform.
"Organizations across the board are growing increasingly aware that reputation, financial performance, customer trust and loyalty, and future success are predicated on their security performance,” said Turner. “Strong security performance starts with having an effective risk management strategy rooted in continuous performance monitoring and measurement. Bitsight Security Ratings provide the objective, real-time, measurable insights into security performance that organizations need to meet stakeholders’ growing security expectations and take their businesses to new heights – and earning a spot on the Deloitte Technology Fast 500 list is a testament to the need for our solutions and our market leadership.”
“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.”
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.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the “Deloitte” name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.
Founded in 2011, Bitsight transforms how organizations manage cyber risk. The Bitsight Security Ratings Platform applies sophisticated algorithms, producing daily security ratings that range from 250 to 900, to help manage their own security performance; mitigate third party risk; underwrite cyber insurance policies; conduct M&A due diligence and assess aggregate risk. With over 1,800 global customers and the largest ecosystem of users and information, Bitsight is the most widely used Security Ratings Service. For more information, please visit www.bitsight.com, read our blog or follow @Bitsight on Twitter.