Burligame, CA, Nov. 16, 2015 (GLOBE NEWSWIRE) -- MotionDSP today announced it ranked 254th 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. MotionDSP grew 290 percent during this period.
MotionDSP’s CEO and Founder, Sean Varah, credits the company’s 290% revenue growth and profitibility to their flagship product, Ikena ISR - a disruptive product that anticipated the ever-increasing demand for real-time image processing of live video from drones. He said, "Despite yearly decreases in the federal defense budget, we posted strong revenue growth while increasing profitability. We anticipate continued growth next year as we expand into commercial applications of our software where time, lives and money are on the line.”
“Amid a fierce business climate, there seems to be no shortage of new and established companies that are unlocking a seemingly unlimited potential for growth and advancement through technology’s continued disruption and proliferation across industries,” said Sandra Shirai, principal, Deloitte Consulting LLP and U.S. technology, media and telecommunications leader. “It is inspiring to witness the innovative ways that companies are incorporating emerging technologies for business gains, be it cognitive computing, or the Internet of Things. We congratulate all those ranked on this year’s Fast 500 and look forward to seeing their continued growth into 2016.”
“Through the efforts and utilization of new and emerging technologies from these companies, we are witnessing greater business demands from across almost all industries,” added Jim Atwell, national managing partner of the emerging company practice, Deloitte & Touche LLP. “We look forward to the opportunity to serve these companies as they strive to grow to the next level – be it towards introducing new solutions or entering new markets – and with it make important and long lasting impressions on the technology market as a whole.”
About Deloitte’s 2015 Technology Fast 500™
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 2011 to 2014.
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 $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
MotionDSP is a leading provider of advanced image processing and computer vision software that helps commercial organizations and governments extract critical information from real-time video in high stakes situations. MotionDSP supports operational deployments within the US Department of Defense and National Intelligence agencies, as well as within homeland security, various law enforcement communities, and commercial markets.