Waterloo, ON, November 8th, 2023 — RideCo, the most adopted cloud-based on-demand transit solution among the 10 largest cities in the United States, has been recognized as part of the 2023 Deloitte Technology Fast 50™ awards program for its rapid revenue growth, entrepreneurial spirit, and bold innovation.
Celebrating its 26th anniversary, the program recognizes Canada’s 50 fastest growing technology companies based on the highest revenue growth percentage over the past four years. RideCo ranked 4th with 3,162% percent revenue growth.
Deloitte’s Technology Fast 50 program winners consist of public and private companies in the technology sector that are innovating within their respective industries. The program runs alongside the broader Deloitte North American Technology Fast 500™. RideCo ranked 49th of the500 fastest-growing companies in North America.
RideCo's Co-Founder and CEO, Prem Gururajan, credits the dedicated and talented team at RideCo for building market leading on-demand transit software and delivering the industry’s best customer service, as is evident by the 95% plus customer retention rate—both of which have contributed to the company's growth. Gururajan said, “We are proud to receive recognition in the Deloitte Technology Fast 50 program for the second year in a row and be supported by a growing list of loyal customers, including transit agencies, fleet operators, and technology companies, who are driving positive change in their communities. With the support of our skilled team at RideCo, we are collectively enhancing mobility for all through on-demand transit.”
“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 a minimum revenue of $50,000 in 2019 and $5 million in 2022; 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 research and development.
About the Deloitte Technology Fast 50™Program
The Deloitte Technology Fast 50 program is Canada’s pre-eminent technology awards program. Celebrating its 26th anniversary, the program recognizes business growth, innovation, and entrepreneurship in four distinct categories: Technology Fast 50 ranking, Enterprise—Industry leaders, Clean Technology, and Companies-to-Watch. The program also recognizes companies within the North American Technology Fast 500ranking, identifying thriving technology companies in the United States and Canada. The 2023 program sponsors include Deloitte, RBCx, Osler, EDC, CCI, TMX, Clarity, and Lafond. For further information, visit www.fast50.ca.
RideCo is the leader in rider-centric on-demand transit technology, with the most adopted cloud-based paratransit and microtransit solution among the 10 largest cities in the United States. Trusted by agencies, as well as fleet operators and technology companies, the platform powers the largest on-demand transit services in North America including Los Angeles and Philadelphia. Houston and San Antonio have also adopted RideCo’s transformative software, rooted in proprietary continuous optimization technology, and supported by the industry’s best customer service, including a 95% plus retention rate.
From reducing overall travel time and encouraging sustainable public transit usage to improving operational efficiency and delivering the lowest total cost of ownership, RideCo’s on-demand transit technology is advancing transit for riders and reshaping how transit agencies operate their services. To date, RideCo been awarded U.S. patent numbers 10,248,913; 10,853,743; and 11,429,910.Visit www.rideco.com to learn more about revolutionizing mobility in your city.