RateGain Travel Technologies today announced that they are one of the top Indian companies to win Deloitte’s 2016 Asia Pacific Technology Fast 500™ Award, a recognition for the 500 fastest growing hardware, software, telecom, semiconductors, life sciences and emerging areas (green technology) companies in APAC.
Winners of the Technology Fast 500 award have been selected on the basis of their percentage fiscal year revenue growth from 2013 to 2015 (or 2014 to 2016 for a financial year ending between January and June). During this period RateGain’s revenue growth reached 105%, based on revenue received from various business activities.
Bhanu Chopra, the CEO of RateGain Technologies cited, “It is our great privilege to be honored with this recognition and a matter of immense pleasure and pride. Our persistence, grit and perseverance has paid off in this fiscal year and the award comes as another major corporate milestone for us. I am delighted to see that software companies continue to dominate the scene in this award category, with 199 companies including RateGain, among the top 500, which account for a whopping 40 percent of the companies ranked!”
According to Deloitte’s report, the top 500 companies in 2016 averaged a revenue growth of 573 percent, almost 158 percentage points higher than that in 2015. Last year, the average revenue growth was 415 percent.
“Our Asia Pacific Technology Fast 500 winners demonstrate how new technologies are shaping the way we live and work, using innovative solutions to transform business models and simplify the lives of the consumer,” said Toshifumi Kusunoki, Deloitte Leader, Technology Fast 500 Asia Pacific.
The top ten companies showed an average revenue growth of 9932 percent at the Deloitte Technology Fast 500™ APAC 2016. This year’s report also reveals that of all the companies ranked, China dominates the APAC region, claiming six spots in the top 10 list.
Asia Pacific Technology Fast 500 winner RateGain, is an industry leader in the global hospitality and travel market, as far as delivering innovative SaaS solutions is concerned, to drive business value for travel companies and hotels across the globe. Solutions offered by RateGain for business transformations, are predominantly delivered through a B2B model and can be broadly classified into two target segments – ‘for the hotel industry’ and ‘for the travel industry’.
Previously in the year 2007, RateGain ranked 1st and subsequently, in 2008 it ranked 2nd in the Deloitte’s Technology Fast 50 India Program List. Recently RateGain also bagged the prestigious IE20 2016, a London & Partners initiative from the Mayor of London’s inward investment company.