15 Maryland tech companies among fastest growing in North America
11/18/2013 | Nancy McCrea
Millennial Media, WeddingWire and RainKing Solutions led the list of Maryland companies making the 2013 Deloitte Technology Fast 500, a prestigious technology awards program in United States and Canada. Among Maryland's eight repeat companies, United Therapeutics Corporation is on the list for the 13th straight year and Zenoss is on the list for the third straight year.
Overall, there were 15 Maryland companies on the list, up from 12 in 2012. Maryland's 15 companies were the eighth most among states/provinces. California far outpaced other states with 166 companies, with Massachusetts, Ontario, New York, Washington and Pennsylvania following. Virginia had 16 companies on the list for the seventh most among states/provinces.
2013 Rank Company Name City Primary Industry 73 Millennial Media Baltimore Media and entertainment 79 WeddingWire, Inc. Chevy Chase Internet 80 RainKing Solutions Bethesda Software 90 Novavax, Inc. Rockville Biotechnology/pharmaceutical 168 Zenoss, Inc. Annapolis Software 238 Motionsoft, Inc. Rockville Software 269 OriGene Technologies, Inc. Rockville Biotechnology/pharmaceutical 278 Optoro, Inc. Lanham Software 301 Tenable Network Security, Inc. Columbia Software 336 United Therapeutics Corporation Silver Spring Biotechnology/pharmaceutical 366 Message Systems Columbia Communications/networking 392 Sourcefire, Inc. Columbia Communications/networking 402 WealthEngine, Inc. Bethesda Software 406 Notable SolutionsInc. (Nsi) Rockville Software 438 BroadSoft, Inc. Gaithersburg Software
Source: Deloitte Technology Fast 500
Award winners were selected based on percentage fiscal year revenue growth from 2008 to 2012. For the eighteenth consecutive year, there are more software companies on the Technology Fast 500 than any other sector. The Maryland companies averaged 842 percent revenue growth over the three year period.
"The software sector continues its strong growth, making up the majority of this year's ranking, but we are starting to see sectors like Internet grow in the Fast 500 ranking to match that of mainstays like biotech and pharma," Eric Openshaw, vice chairman and Deloitte's U.S. technology, media and telecommunications leader, said in a statement.
"Combining technological innovation, entrepreneurship and rapid growth, Fast 500 companies – large, small, public and private – span a variety of industry sectors, and are leaders in hardware, software, telecom, semiconductors, life sciences and emerging areas, such as clean technology. These companies are on the cutting edge and are transforming the way we do business," according to a statement from Deloitte.
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