MMB Networks Ranked Number 356 Fastest-Growing Company in North America on Deloitte’s 2020 Technology Fast 500™
Attributes 277% Revenue Growth to technology diversification and a laser focus on customer success.
Toronto, ON, November 18, 2020 — MMB Networks today announced it ranked 356 on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences and energy tech companies in North America now in its 26th year. MMB Networks grew 277% during this period.
“The Fast 500 is a list of truly amazing companies, and we are proud to make this list for a second time”, said Russell Thomas, MMB’s President and CEO. “We continue to remain focused on our customers and ensure that they can build and bring amazing customer experiences to their end users. Our talented team has worked hard to diversify our product offering to ensure that all of our large scale, mission critical customer deployments will be successful across any IoT communication technology.”
“For more than 25 years, we’ve been honoring companies that define the cutting edge and this year’s Technology Fast 500 list is proof positive that technology — from software and digital media platforms, to biotech — truly does permeate so many facets of our lives,” said Paul Silverglate, vice chairman, Deloitte LLP and U.S. technology sector leader. “We congratulate this year’s winners, especially during a time when innovation is needed more than ever to address the monumental challenges posed by the pandemic.”
“Each year the Technology Fast 500 listing validates how important technology innovation is to our daily lives. It was interesting to see this year that while software companies continued to dominate, biotech companies rose to the top of the winners list for the first time, demonstrating that new categories of innovation are accelerating in the pursuit of making life easier, safer and more productive,” said Mohana Dissanayake, partner, Deloitte & Touche LLP, and industry leader for technology, media and telecommunications, within Deloitte’s audit and assurance practice. “We extend sincere congratulations to these well-deserved winners — who all embody a spirit of curiosity, and a never-ending commitment to making technology advancements possible.”
About Deloitte’s 2020 Technology Fast 500™
Now in its 26th year, Deloitte’s Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences 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 2016 to 2019.
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 $US50,000, and current-year operating revenues of at least $US5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
About MMB Networks
Named on Deloitte’s 2018 Technology Fast 50 | 500 lists, MMB Networks is a rapidly growing IoT product development company located in downtown Toronto, and a leader in Internet of Things (IoT) technologies. MMB enables the world’s biggest brands to create amazing customer experiences by helping them build and bring wireless products to market.
From strategy and product positioning all the way through to manufacturing and support, MMB Networks helps its customers build a new generation of mission critical connected products from smart grid meters and door locks to residential solar energy systems and even intelligent hydration trackers for professional athletes.
For more information about MMB Networks, visit mmbnetworks.com.
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