These 2 SLO companies are among the fastest-growing tech firms in North America
Two San Luis Obispo companies were named among the fastest-growing technology companies on the continent based on revenue growth in recent years.
Deloitte’s Technology Fast 500 list ranks North American technology companies based on “technological innovation, entrepreneurship and rapid growth,” according to its website. The companies are selected based on percentage fiscal year revenue growth from 2013 to 2016.
The list ranked SMS Masterminds 212nd and Mindbody 412th. (For reference, the fastest growing tech company in the United States was Donuts Inc., a communications and networking company out of Kirkland, Washington, that grew 59,093 percent — yes, you read that right.)
SMS Masterminds, which connects business owners and consumers through mobile loyalty marketing, mobile web and reputation management solutions, made the list because of its 468 percent growth between 2013 and 2016, according to Deloitte.
In 2014, the company merged with Iowa-based Spend-Smart Payments Co., which provided prepaid debit cards, in a deal valued at more than $5.2 million, according to previous Tribune reports. That same year, it also acquired the e-commerce division of TechXpress Inc.
The company is publicly traded as SpendSmart Networks Inc. According to its annual report, total revenues were $5.8 million in 2016.
SMS Masterminds representatives did not respond to requests for comment on the list.
Mindbody, a health and wellness software company, grew 186 percent in 2016, according to the list.
“What is most gratifying is our consistent placement on these fastest growing companies lists,” Mindbody CEO Rick Stollmeyer said of the ranking. “It speaks to scope of our opportunity and the inspiration and durability of the Mindbody team.”
Its total revenue for 2016 was $139 million, according to previous Tribune reports; the company expects revenue in 2017 to be between $181.4 million and $182.4 million.
Stollmeyer said the company will continue to innovate to encourage more growth.
“Our commitment and our vision on the team is connecting the world of wellness — and this manifests in creating cutting edge products that help wellness businesses succeed,” he said.
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This story was originally published November 20, 2017 at 4:29 PM with the headline "These 2 SLO companies are among the fastest-growing tech firms in North America."