Attributes 280% Revenue Growth to Product Innovation, Differentiated Data Insights, Strong Partnerships
Boston, November 17, 2021 — Bitsight, the standard in security ratings, today announced it was named to the Deloitte Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America, now in its 27th year. Bitsight grew its revenue 280% during this period.
Bitsight’s chief executive officer, Steve Harvey, credits the company’s rapid revenue growth to a commitment to innovation, an unparalleled data set, an expansive partnership network, and a skyrocketing market demand for cyber risk and performance management solutions:
"The incredible milestones we achieved in the past year – from surpassing $100M in annual recurring revenue, launching Financial Quantification for Enterprise Cyber Risk, to inking a landmark partnership with Moody’s – firmly positioned Bitsight as the most trusted provider of cybersecurity ratings and analytics in the market. Bitsight continues to empower risk leaders with meaningful, objective, data-driven insights they need to tackle pressing issues like ransomware and supply chain security, and to help them achieve meaningful risk reduction. Earning this recognition from Deloitte underscores the trust and confidence that the market places in Bitsight, and our ability to continue to meet and anticipate market needs."
“Each year the Technology Fast 500 shines a light on leading innovators in technology and this year is no exception,” said Paul Silverglate, vice chair, Deloitte LLP and U.S. technology sector leader. “In the face of innumerable challenges resulting from the pandemic, the best and brightest were able to pivot, reinvent and transform, and grow. We celebrate the winning organizations and especially the talented employees driving their success.”
“The pandemic has underscored the urgent need for tech solutions in a variety of areas across health care, fintech, energy tech, entertainment, to name a few, so reliance on innovators like the winners of the Technology Fast 500 is more important than ever,” said Christie Simons, partner, Deloitte & Touche LLP and industry leader for technology, media and telecommunications within Deloitte’s audit & assurance practice. “These companies are not only at the cutting edge, transforming the way we do business, but most importantly, recognize the strategic importance of ongoing innovation, especially in the ever-changing world of technology.”
Bitsight previously ranked No. 246 as a Technology Fast 500™ award winner for 2019.
About the 2021 Deloitte Technology Fast 500™
Now in its 27th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, 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 2017 to 2020.
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 US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
About Bitsight
Bitsight is transforming how the world addresses cyber risk with cybersecurity ratings and analytics. The Bitsight Security Ratings Platform applies sophisticated algorithms, producing daily security ratings that range from 250 to 900, to help organizations manage their own security performance; mitigate third party risk; underwrite cyber insurance policies; conduct financial diligence; and improve national security. With 2,300 global customers and the largest ecosystem of users and information, Bitsight is the Standard in Security Ratings. Learn more at bitsight.com.
About Deloitte
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.