Florida-based company recognized for revenue growth of 931% from 2018 to 2021
MIAMI, Nov. 16, 2022 /PRNewswire/ -- ClassWallet has ranked number 155 on the Deloitte Technology Fast 500TM, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech and energy tech companies in North America, now in its 28th year. ClassWallet grew 931% during the three-year 2018 to 2021 fiscal year period.
Just 15 of the 500 honorees are fintech companies. In the eastern region, comprised of North Carolina, Ohio, Delaware and Florida (where ClassWallet is based), 26 companies made this year's ranking.
"We're honored to be recognized by Deloitte as one of the fastest growing tech companies in North America," said Jamie Rosenberg, founder and CEO, ClassWallet. "Over the past few years, an increasing number of government agencies and school districts have entrusted ClassWallet to solve the challenges of funds distribution, accounts payable spending and transparent reporting in ways previously not possible – especially for federal and state grants and scholarships. We look forward to continuing to deliver value to our current and future clients across the nation."
The privately held company, based in Hollywood, Florida, and founded in 2014, is used in 27 states and by 19 state agencies, across 6,200 schools serving 4.1 million students. ClassWallet handles accounts payable funds via its patented fintech platform and digital wallet technology, for teacher and maintenance staff spending, as well as for managing and disbursing federal and state scholarship and grant monies to families, schools and districts.
Overall, 2022 Technology Fast 500 companies achieved revenue growth ranging from 241% to 125,138% from 2018 to 2021, with median growth of 611%.
About the 2022 Deloitte Technology Fast 500
Now in its 28th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, 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 2018 to 2021.
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 US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
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.
About ClassWallet
Founded in 2014, ClassWallet (www.classwallet.com) is the leading digital wallet and automated accounts payable platform for federal, state and district education. Saving valuable time and overhead costs to track, pay and report on decentralized purchases, ClassWallet is used in 27 states and by 19 state agencies, across 6,200 schools serving 4.1 million students. ClassWallet's integrated marketplace of leading suppliers and learning curricula includes top retailers like Amazon, Office Depot, Staples, Scholastic, School Specialty, Lakeshore Learning and more. Headquartered in Miami, ClassWallet ranked #33 on Inc. Magazine's 2022 list of fastest-growing private companies in the Southeast.
CONTACTS:
Doug Wright / Henry Feintuch/Ashley Blas
Feintuch Communications
646-753-5711 / 646-753-5710 / 646-753-5713
classwallet@feintuchpr.com
SOURCE ClassWallet
