15 Nov Shape Security Honored As Fastest Growing Company in the Bay Area by Deloitte’s 2018 Technology Fast 500™
Attributes Steep Revenue Growth To Exceptional Fraud Prevention for the Fortune 500
MOUNTAIN VIEW, Calif., Nov. 15, 2018 (GLOBE NEWSWIRE) — Shape Security today announced that is has been recognized as the fastest growing company in the Bay Area and the third-fastest growing company in North America by Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America. Rankings are based on a company’s revenue growth from 2014 to 2017.
“We’re laser-focused on protecting our customers and we have an incredible team,” said Shape’s CEO, Derek Smith, who credits the 23,576 percent revenue growth to the company’s unceasing dedication to customer success. Smith continued, “This is why we are able to grow incredibly quickly while maintaining a 99 percent customer retention rate.”
“Congratulations to Shape and the other Deloitte 2018 Technology Fast 500 winners on this impressive achievement,” said Sandra Shirai, vice chairman, Deloitte LLP, and U.S. technology, media and telecommunications leader. “These companies are innovators who have converted their disruptive ideas into products, services and experiences that can captivate new customers and drive remarkable growth.”
This is the latest honor for Shape, which has also been recognized by Fortune Magazine as one of the Top 100 companies in artificial intelligence, ranked by CNBC as one of the Top 50 most disruptive companies in the world, and named by Business Insider as one of the “25 Enterprise Startups to Bet Your Career On.”
About Shape Security
Shape Security builds cybersecurity technology which not only stops attackers, but also reduces friction for good customers. Shape disrupts the economics of cybercrime, making it too expensive for attackers to commit online fraud, while enabling enterprises to more easily identify and transact with genuine customers on their websites and mobile apps. The world’s leading organizations rely on Shape as their primary line of defense against automated (bot) attacks on their web and mobile applications. The Shape platform, covered by 55 patents, was designed to stop the most dangerous application attacks enabled by cybercriminal fraud tools, including credential stuffing (account takeover), fake account creation, and unauthorized aggregation. Today, the Shape Network defends 1.7 billion user accounts world-wide. Shape is backed by elite security investors including Kleiner Perkins, Norwest Venture Partners, Google Ventures, Allegis Cyber, Venrock, Baseline Ventures, Epic Ventures, HPE, Eric Schmidt’s Tomorrow Ventures, JetBlue Technology Ventures, EDBI and Singtel Innov8.
About Deloitte’s 2018 Technology Fast 500™
Deloitte’s Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences 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 2014 to 2017.
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 $50,000 USD, and current-year operating revenues of at least $5 million USD. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
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.
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