In its second year of recognition, the company grew 1,263% between 2019 and 2022
MIAMI, Nov. 8, 2023 /PRNewswire/ -- ClassWallet has placed number 114 on the Deloitte Technology Fast 500tm, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech and energy tech companies in North America. Marking its second year on the list, ClassWallet grew 1,263%, rising 41 places from last year's ranking.
ClassWallet was one of 11 fintech companies ranked on the list. Overall, the 2023 Technology Fast 500 companies achieved revenue growth ranging from 201% to 222,189% over the three-year time frame, with an average growth rate of 1,934% and median growth rate of 497%.
"ClassWallet's inclusion on the Deloitte Tech Fast 500 for the second year is a testament to the unwavering dedication of our team, partners, clients and investors who have enabled us to become the leading purchasing and reimbursement platform for public funds," said Jamie Rosenberg, founder and CEO, ClassWallet. "We're committed to ensuring that public funds reach the right people and are used for the right purposes."
ClassWallet is used by state government agencies and school districts across 32 states, helping those clients realize the full potential of over $2.7 billion in public funds.
About the 2023 Deloitte Technology Fast 500
Now in its 29th 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 2019 to 2022.
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.
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world's most admired brands, including nearly 90% of the Fortune 500® and more than 8,500 U.S.-based private companies. At Deloitte, we strive to live our purpose of making an impact that matters by creating trust and confidence in a more equitable society. We leverage our unique blend of business acumen, command of technology, and strategic technology alliances to advise our clients across industries as they build their future. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Bringing more than 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte's approximately 457,000 people worldwide connect for impact at www.deloitte.com.
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Founded in 2014, ClassWallet is the leading purchasing and reimbursement platform for public funds. The company's patented digital wallet technology ensures that public funds reach the correct recipients and are used for the intended purpose ? at a fraction of the time and cost of existing technology solutions with better compliance safeguards. ClassWallet is used by state government agencies and school districts across 32 states, helping those clients realize the full potential of over $2.7 billion in public funds. Its integrated marketplace of top retailers and service providers includes Amazon, Best Buy, Home Depot, Michaels, Office Depot, Scholastic, Staples, Varsity Tutors and more.
Headquartered in Hollywood, Florida, ClassWallet ranked number 477 on the prestigious Inc. 5000 list of the fastest-growing private companies in the U.S. in 2023 and the 61st fastest growing software company. It also ranks as the 114th fastest growing company in North America according to the Deloitte Technology Fast 500.??
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