Attributes 657% Revenue Growth to Vision of Democratizing IoT Innovation, Customer Expansion in Key Verticals, and New Partnerships
SEATTLE–(BUSINESS WIRE)–Mason, innovator of the only fully managed infrastructure for developing and delivering dedicated smart devices, announced it ranked 209 on the Deloitte Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America. Driven by its expansion across industries and new, key partnerships, Mason experienced a 167% increase in active recurring revenue, including a 62% expansion of existing customer ARR and a growth rate of 657%.
Mason’s chief executive officer Nancy Xiao credits strong customer growth in key verticals and new partnerships with the company’s 657% revenue growth. She said, “Our customer expansion in key verticals such as healthcare and strategic industry partnerships have positioned Mason at the forefront of the dedicated smart device revolution and contributed to our accelerated growth. By providing entrepreneurs and enterprises with a simplified and streamlined way to deliver an experience optimized for dedicated use cases, Mason puts the power of IoT innovation directly into the hands of our partners and customers. Our strong customer growth is a result of Mason’s ability to remove the fragmentation that’s so often found in the connected smart device market by delivering a unified platform that companies can use to develop and scale their offerings without having to create a fully-customizable enterprise-scale operating system themselves.”
“Each year the Technology Fast 500 shines a light on leading innovators in technology and this year is no exception,” said Paul Silverglate, vice chair, Deloitte LLP and U.S. technology sector leader. “In the face of innumerable challenges resulting from the pandemic, the best and brightest were able to pivot, reinvent and transform and grow. We celebrate the winning organizations and especially the talented employees driving their success.”
“The pandemic has underscored the urgent need for tech solutions in a variety of areas across health care, fintech, energy tech, entertainment, to name a few, so reliance on innovators like the winners of the Technology Fast 500 is more important than ever,” said Christie Simons, partner, Deloitte & Touche LLP and industry leader for technology, media and telecommunications within Deloitte’s audit & assurance practice. “These companies are not only at the cutting edge, transforming the way we do business, but most importantly, recognize the strategic importance of ongoing innovation, especially in the ever-changing world of technology.”
Overall, 2021 Technology Fast 500™ companies achieved revenue growth ranging from 212% to 87,037% from 2017 to 2020, with median growth of 521%.
About the 2021 Deloitte Technology Fast 500™
Now in its 27th 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 2017 to 2020.
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.
Mason is the fastest way to take smart devices from idea to end user. Whether building a single-use device from scratch or scaling a line of smart products, with Mason it’s faster and less costly to build, deploy and scale. Digital transformation is a modern requirement but operating a hardware-dependent initiative is hard – thousands of hours and millions of dollars are at stake. The Mason Smart Device Platform is the only fully managed infrastructure for developing and delivering dedicated devices. It offers flexible usage-based pricing for fleets of devices and manages the underlying complexity of all associated backend services, making software delivery on a smart product line—whether it’s a tablet, wearable or new form factor—as simple as delivering software in the cloud. This frees innovators to focus on what matters: application development, feature specification and UX. Granular access to add, remove or lock down capabilities makes it possible for highly customized products to be built as envisioned. Mason offloads hardware investment risks and logistics, including inventory procurement, warehousing and supply chain management. With options like zero-touch provisioning, devices work perfectly out of the box without end user intervention. Remote fleet management, troubleshooting and automated software updates by Mason ensure security and positive end user experiences. Organizations of all sizes rely on Mason to bring innovations and hundreds of use cases to market without reinventing the wheel. Smarter from start to finish with Mason.™
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Bhava Communications for Mason