Waterloo, ON., November 16, 2022 — RideCo (TransitLabs) received recognition as part of the 2022 Deloitte Technology Fast 50™ awards program for its rapid revenue growth, entrepreneurial spirit, and bold innovation.
Celebrating its 25th anniversary, the program recognizes Canada’s 50 fastest-growing technology companies based on the highest revenue-growth percentage over the past four years. RideCo ranks 16th with 1,926% percent revenue growth from 2018 to 2021.
Deloitte’s Technology Fast 50 program winners consist of public and private companies in the technology sector that are transforming the industry.
RideCo's CEO Prem Gururajan, credits a relentless focus on helping transit agencies transform and improve the rider experience, along with RideCo’s talented team and patented technology, with the company's 1,926% percent revenue growth. “Our team has made great strides working with transit agencies and fleet operators, enabling them to offer innovative on-demand transit services, making mobility more convenient, equitable, efficient and sustainable,” stated Gururajan. “We are proud to receive this recognition, and we are determined to continue our trajectory and help transit agencies and fleet operators across North America and around the globe.”
“It’s inspiring how this year’s exceptional cohort of Technology Fast 50 winners have delivered outstanding revenue growth even in the face of prevailing uncertainties in the economy and marketplace,” commented Anders McKenzie, partner and national leader for the Technology Fast 50 program at Deloitte Canada. “Fueled by exemplary innovation, creativity, resilience, adaptability, along with superior business leadership, these companies are paving the way as catalysts in their respective sectors and delivering growth and value to the Canadian economy both at home and beyond.”
To qualify for the Deloitte Technology Fast 50 ranking, companies must have been in business for at least four years, have revenues of at least $5 million, be headquartered in Canada, own proprietary technology, conduct research, and development activities in Canada and invest a minimum of five percent of gross revenues in R&D.
The Deloitte Technology Fast 50 program is Canada’s preeminent technology awards program. Celebrating its 25th anniversary, the program recognizes business growth, innovation, and entrepreneurship in four distinct categories: Technology Fast 50 ranking, Enterprise Fast 15, Clean Technology, and Companies-to-Watch. The program also recognizes companies within the North American Technology Fast 500 ranking, identifying thriving technology companies in the United States and Canada. The 2022 program sponsors include Deloitte, RBCx, Osler, EDC, CBRE, Vector Institute, Council of Canadian Innovators (CCI), Clarity Recruitment, Lafond, and TMX. For further information, visit www.fast50.ca.
RideCo is an industry leader in on-demand transit technology, enabling on-demand ridesharing for transit riders around the globe. We partner with transit agencies, municipalities, and experienced local fleet operators to design and operate on-demand transit services. Our solutions reduce travel time, decrease walking distance, and increase service frequency for riders while lowering transit agencies' cost-per-ride, reducing demand for parking, and attracting net new riders to transit systems. RideCo continuously drives new innovation and to-date has been awarded U.S. Patent Nos. 10,248,913; 10,853,743; and 11,429,910. To learn more about our proprietary cloud-based platform and how it can revolutionize mobility in your city, visit www.rideco.com.
