The 15 Fastest Growing Technology Companies in BC in 2011

Posted by Knowlton Thomas

In the tech space, hypergrowth isn't unfamiliar. While certainly not every technology startup goes down this path, it happens more often than in most other industries.

In BC, what are some of the fastest growing? We wanted to know, so we found out. Using broad, multi-industry data compiled by Business In Vancouver, plus a pinch of our own research for verification purposes, we've filtered out the noise to deliver you a smaller, specific list of only technology companies. Some you may recognize, like Elastic Path Software, while others have achieved incredible growth without generating much noise, such as NewGen Technologies.

The rate of growth is displayed as a percentage of each company's five-year revenue increase. We identify them as public or private, briefly describe what they do, and note when they were founded and where they're based. Notice any inaccuracies? Let us know in the comments.

1. Clevest Solutions. Privately held; develops software for mobile field force management. 8,230% revenue growth from $42,000 to $3.5 million. Founded in 2002, based in Richmond.

2. Hypercube Technologies Inc. Privately held; develops enterprise software in education space. 2,821% revenue growth from $123,000 to $3.6 million. Founded in 1999, based in Richmond.

3. Vivonet Inc. Privately held; secure point of sale systems. 2,294% revenue growth from $209,000 to $5 million. Founded in 1999, based in Burnaby.

4. OneMove Technologies Inc. TSX-V:OM. Web platform for real estate transactions. 1,083% revenue growth from $128,000 to $1.5 million. Founded in 2002, based in Vancouver.

5. PNI Digital Media Inc. TSX-V:PN. Content orders for retailers via online and mobile software. 1,055% revenue growth from $2.1 million to $24.6 million. Founded in 1995, based in Vancouver.

6. Work at Play. Privately held; Digital agency offering web dev, interactive marketing, etc. 915% revenue growth from $250,000 to $2.5 million. Founded in 2002, based in Vancouver.

*7. iQmetrix. Privately held; Developer of software with integrated inventory, CRM, and POS for multi-location cellular and electronics retailers. 800% revenue growth from $5.3 million to $47.7 million. Founded in 1999, based in Vancouver.

7. Elastic Path Software. Privately held; Enterprise e-commerce solutions provider. 774% revenue growth from $2 million to $17.5 million. Founded in 2000, based in Vancouver. 

8. NewGen Technologies Corp. Privately held; IT services and solutions. 655% revenue growth from $265,000 to $2 million. Founded in 1996, based in Surrey.

9. Fdata Management Software Inc. Privately held; develops custom database applications. 650% revenue growth from $25,000 to $180,000. Founded in 2004, based in Vancouver.

10. Corinex Communications Group. Privately held; Develops IP communications systems. 575% revenue growth from $5.1 million to $34.4 million. Founded in 1999, based in Vancouver.

11. Tenzing Managed IT Services. Owned by Brian Shepard. Delivers SaaS and e-commerce applications. Originally named Canada Web Hosting. 563% revenue growth from $1.5 million to $10.2 million. Founded in 1998, based in Kelowna.

12. Absolute Software Corp. TSX: ABT. Develops software that tracks, manages, and protects computers. 521% revenue growth from $8.6 million to $53.2 million. Founded in 1993, based in Vancouver.

13. Domain7 Solutions Inc. Owned by Shawn Neumann. Does web strategy, design, and technology. 425% revenue growth from $400,000 to $2.1 million. Founded in 1996, based in Abbotsford.

14. Sierra Wireless Inc. TSX:SW. Wireless mobile computing and machine-to-machine communications. 384% revenue growth from $124 million to $600 million. Founded in 1993, based in Richmond.

15. PEER1 Hosting. TSX-V:PIX. Hosts colocation, managed, and self-managed servers. 336% revenue growth from $24.4 million to $106.6 million. Founded in 1999, based in Vancouver.

*EDIT: iQmetrix is not on BIV's list, but as Boris pointed out in the comments, the company should be in 7th place on this list.

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Knowlton Thomas

Knowlton Thomas

Knowlton is the managing editor of Techvibes. Based in Vancouver, Knowlton has been published in national publications and has also appeared on television and radio. Previously he was an editor for New Westminster weekly The Other Press and served on its board of directors. When not working, Knowlton enjoys playing tennis or otherwise enjoying the outdoors. more



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