Fastest Growing Tech Startups
By Alan Olsen
In this age of technology, tech startups are a dime a dozen. Of course, most startups never really get past the startup stage. There are others that do go on to become successful businesses, but only a few make it really big. With technology being such a popular and fast-growing industry more startups come from the tech industry than any other. So which tech startups have seen the best results over the last several months and which ones are already well on their way to becoming a huge success?
This company has experienced average sales growth of 52 percent over the last three years. Grubhub delivers food from 50,000 restaurants in more than 500 cities. As home shopping continues to increase in popularity, Grubhub will likely continue to see positive results.
Arista Networks makes networking equipment for large data centers and the company is really gaining momentum. Arista is already making a big impression in the 100-gigabit network switch market and competitors are feeling its pull. The company has reached a 30 percent share of the market as it continues to take market share from big names like Cisco. It has seen average sales growth of 46 percent over the last three years.
As more companies turn to outsourcing options for payroll and HR, this market continues to grow. Paycom is taking advantage of the trend by offering software for both HR and payroll needs. Like Arista Networks, they have experienced a 46 percent growth average for three the last years.
Mortgage software company Ellie Mae has seen a 43 percent growth average with its software that automates the mortgage process for smaller lenders in the U.S. The company has found much success in compiling income history, titles, appraisals, and other items, since independent mortgage and home lending companies have increased.
While most people make fun of snail mail, the fact is the mailing industry is still viable and necessary. To that end, Stamps.com has found success by offering internet-based shipping and mailing services. With a three-year average growth of 42 percent, it appears customers still appreciate this service.
The "cloud" is now part of just about every industry. Storing information and data files in a virtual network is now the norm for the majority of companies, both large and small. Veeva Systems has focused its cloud software on the Life Sciences industry and has enjoyed average sales growth of 37 percent.
For companies that need solutions for network visibility management Gigamon has been very successful over the last three years. The company has experienced 31 percent average sales growth.