Vention named as a Deloitte Technology Fast 500 program winner for 2022
November 18, 2022 by Manufacturing AUTOMATION
Vention ranked 143rd on the 2022 Deloitte Technology Fast 500 award program for its rapid revenue growth, entrepreneurial spirit and innovation. This was the second time that the company featured on the list.
Celebrating its 25th anniversary, the program recognizes Canada’s 500 fastest-growing technology companies based on the highest revenue-growth percentage over the past four years. Vention has had 964 percent in revenue growth from 2018 to 2021.
“Vention’s mission to democratize industrial automation has never been more relevant. With labour shortage, salary inflation, and re-shoring of production, manufacturers are looking for new, innovative solutions to automate their factory floor,” said Etienne Lacroix, CEO and co-founder of Vention. “With a focus on ease of use, Vention’s manufacturing automation platform (MAP) has empowered all manufacturing professionals to become automation specialists.”
To qualify for the Deloitte Technology Fast 500 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.
“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 Canadien economy both at home and beyond.”