Sonatype Named to Deloitte’s 2018 Technology Fast 500™, Recognized as One of the Fastest Growing Companies in North America

FULTON, MD, Nov. 16, 2018 (GLOBE NEWSWIRE) -- Sonatype, the leader in automated open source governance, today announced it ranked 346 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. The recognition comes during a banner growth year for the company and on the heels of announcing an $80 million minority investment led by TPG. This is the third year in a row Sonatype has ranked as a Technology Fast 500™ award winner.

“Simply stated, every company in the world today (whether they know it, or not) is a software company, and they’re consuming unprecedented amounts of open source components. Last year’s OSS component breach at Equifax highlighted what can happen when that consumption is unchecked, leading more companies to accelerate investments in automated OSS governance and security, further increasing our growth.” said Wayne Jackson, CEO of Sonatype. “ Being named to the Deloitte Fast 500, for the third time, is incredible validation for the solution and company we’ve built.”

Today’s IT leaders face intense pressure to accelerate the pace of software innovation while also improving security.  As a result, Gartner forecasts, “by 2019, more than 70% of enterprise DevSecOps initiatives will have incorporated automated security vulnerability and configuration scanning for open-source components and commercial packages, up from less than 10% today,” wrote Neil MacDonald, David W. Cearley, Mike J. Walker, and Brian Burke in their 8 March 2018 report, Top 10 Strategic Technology Trends for 2018: Continuous Adaptive Risk and Trust.

“Software, which accounts for nearly two of every three companies on the list, continues to produce some of the most exciting technologies of the 21st century, including innovations in artificial intelligence, predictive analytics and robotics,” said Mohana Dissanayake, partner, Deloitte & Touche LLP, and Industry Leader for technology, media and telecommunications, within Deloitte’s audit and assurance practice. “This year’s ranking demonstrates what is likely a national phenomenon, where many companies from all parts of America are transforming the way we do business by combining breakthrough research and development, entrepreneurship and rapid growth.”

Overall, 2018 Technology Fast 500™ companies achieved revenue growth ranging from 143 percent to 77,260 percent from 2014 to 2017.

About Deloitte’s 2018 Technology Fast 500™

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 2014 to 2017

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 $50,000 USD, and current-year operating revenues of at least $5 million USD. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.

About Sonatype

More than 10 million software developers rely on Sonatype to innovate faster while mitigating security risks inherent in open source.  Sonatype’s Nexus platform combines in-depth component intelligence with real-time remediation guidance to automate and scale open source governance across every stage of the modern DevOps pipeline.  Sonatype is privately held with investments from TPG, Goldman Sachs, Accel Partners, and Hummer Winblad Venture Partners. Learn more at www.sonatype.com.

About Deloitte

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the “Deloitte” name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.