Published on December 13th, 2012 | by Alexis Argent0
Aerohive Recognized by Deloitte as the Fifth Fastest Growing Technology Company in North America
Aerohive Networks has announced it was ranked fifth in the Deloitte Technology Fast 500™ awards. This prestigious accolade acknowledges the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America.
Aerohive Networks look to reduce the cost and complexity of today’s wireless networks, offering cloud-enabled Wi-Fi solutions for medium and large enterprise headquarters, branch offices and teleworkers. Popular products include the HiveAP110, the HiveAP320 and the HiveAP340.
- According to the Deloitte Technology Fast 500™ list, Aerohive is the fifth fastest growing technology company in North America. This award provides a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America.
- Technology Fast 500 award winners are selected based on the percentage of fiscal year revenue growth from 2007 to 2011. During that time, Aerohive’s growth was 44,569%, placing the company among only 19 other organizations on the list with growth over 10,000 percent. Aerohive is also one out of just four private companies within the top 10.
- The software sector led all industry categories, with 200 companies on the list.
- Other companies within the top 10 rankings include Tesla Motors, Palo Alto Networks, Sagent Pharmaceuticals and NeoStem.
- Aerohive’s networking solutions are based on a unique, distributed intelligent architecture that include enterprise-class Wi-Fi Access Points, revolutionary, easy-to-deploy Branch Routers and an on premise orcloud-based network management solution for easy configuration and monitoring.
- Aerohive’s growth has been driven by the explosion of smart phones and tablets, which have increased BYOD adoption in corporate environments and created a demand for enterprise Wi-Fi. According to Infonetics Research, the enterprise Wi-Fi market grew 25 percent in Q2 2012 over Q2 2011. As a result of this mobile device explosion, Aerohive has almost tripled its customer base, growing it to over 6000 customers with annual sales growth of over 150 percent. In September, Aerohive also announced it secured 22.5 million in Mezzanine Equity financing.
To be ranked fifth out of 500 companies on the Deloitte Fast 500 list is a tremendous honor,” said David Flynn, CEO of Aerohive Networks. “Aerohive has seen exponential growth in the past five years and we’re very proud to have this success affirmed by an organization as esteemed as Deloitte. We are privileged to share our ranking with the other prominent companies on this list and look forward to continue this growth in the New Year.”