Attributes 661% Percent Revenue Growth to Unique Predictive Information Management Technology
San Francisco, October 20, 2010 — Recommind today announced that it ranked number 157 on the 2010 Technology Fast 500™, Deloitte’s ranking of 500 of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings are based on percentage of fiscal year revenue growth during the period from 2005–2009; Recommind’s revenue grew 661% during this period.
Recommind VP Craig Carpenter said that increased regulatory scrutiny, mounting concerns about lawsuits and high levels of customer satisfaction are driving the company’s growth.
“Large enterprises are facing the highest legal and regulatory stakes in history, and they need to respond more quickly than ever,” Carpenter said. “Our unique predictive information management software gives them an automated, highly accurate solution for finding, categorizing and analyzing the right information under very tight deadlines. We’ve seen especially high demand for our game-changing Axcelerate eDiscovery suite, the only software with Predictive Analytics™ and Predictive Coding technology, which identifies key documents from the outset of discovery and slashes traditional linear review timelines and costs by 50-90%. Over the past year, our Axcelerate eDiscovery On Demand business has increased 961% while new cases have jumped 425%. We expect this rapid growth to continue in 2011 by giving our customers an even greater competitive edge and making their satisfaction our top priority.”
“Recommind and the other 2010 Technology Fast 500™ winners forged ahead in a challenging economic environment to realize exceptional growth,” said Phil Asmundson, vice chairman and Deloitte’s U.S. technology, media and telecommunications leader. "Deloitte commends Recommind for this impressive accomplishment.”
“Recommind has proved itself to be one of the fastest growing tech companies in North America, and we are proud to honor them as one of the 2010 Technology Fast 500™,” said Mark Jensen, managing partner, venture capital services, Deloitte & Touche LLP.
Recommind previously ranked 251 as a Technology Fast 500™ award winner for 2009.
For additional detail on the Technology Fast 500™ including selection and qualifying criteria, visit www.fast500.com