Company attributes 256 percent revenue growth to broad demand for its embedded cellular solutions for the Industrial Internet of Things (IoT).
Plymouth, MN, November 19, 2018 – NimbeLink, the world’s leading provider of cellular IoT technology, solutions and services, announced it ranked 318th 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. NimbeLink grew 256% percent during this period and was the highest ranked company from Minnesota.
NimbeLink’s Co-Founder and Chief Executive Officer, Scott Schwalbe, credits the NimbeLink team and the company’s simple, cellular IoT solutions for the company’s fast revenue growth. Schwalbe said, “We are pleased to receive this recognition, and we’d like to thank our employees and our customers and partners as we drive continued growth for our patented cellular technologies.”
“Congratulations to the Deloitte 2018 Technology Fast 500 winners on this impressive achievement,” said Sandra Shirai, vice chairman, Deloitte LLP, and U.S. technology, media and telecommunications leader. “These companies are innovators who have converted their disruptive ideas into products, services and experiences that can captivate new customers and drive remarkable growth.”
“Software, which accounts for nearly two of every three companies on the list, continues to produce some of the most exciting technologies of the 21 st 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.”
NimbeLink is a leading Internet of Things (IoT) solution company that develops designs, and delivers smart, simple cellular-based connectivity solutions for industrial and commercial IoT markets. NimbeLink has two business units – Asset Tracking Solutions and Embedded Solutions, which includes Skywire® modems. NimbeLink makes connecting things to the Internet as simple and fast as it can be, eliminating risk and enabling customers to quickly increase their revenue.
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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.