RideCo Announced as One of Deloitte's Technology Fast 50 Program Winners for the Third Consecutive Year

WATERLOO, ON, Nov. 6, 2024 /CNW/ - RideCo, the most adopted cloud-based on-demand transit solution among the 10 largest cities in the United States, has been recognized as part of the 2024 Deloitte Technology Fast 50^TM awards program. This is the third consecutive year that the company has been ranked among Canada's 50 fastest-growing technology companies.

Based on the highest revenue growth percentage over the past four years, RideCo ranks number 16 in this year's program with 1276% revenue growth between 2020 and 2023.

The Deloitte Technology Fast 50 program winners consist of public and private companies in the technology sector that are transforming their respective industries. The program runs alongside the broader Deloitte North American Technology Fast 500^TM.

"Receiving this recognition from the Deloitte Technology Fast 50 program for the past three years reflects the continued commitment and positive impact that our talented RideCo team is having on the lives of people in cities and communities across North America," said Prem Gururajan, Co-Founder and CEO of RideCo. "With each innovation we bring to the on-demand transit space, we are changing how public transit and mobility services are being delivered. Together with our partners, from transit agencies and fleet operators to private enterprise and a host of other stakeholders, we are improving mobility for all."

"These exceptional Technology Fast 50 winners epitomize the spirit of innovation and entrepreneurial excellence in Canada's technology sector," expressed Anders McKenzie, the National Technology Fast 50 program leader at Deloitte Canada. "By demonstrating remarkable growth rates and showcasing their ability to adapt and thrive in a rapidly evolving market, these companies have distinguished themselves as leaders in their respective fields. Their success not only reflects their own ingenuity and dedication but also contributes to the overall growth and competitiveness of Canada's technology ecosystem. We are proud to celebrate their achievements and recognize them as the driving force behind the country's technological advancement and economic prosperity."

To be eligible for the Deloitte Technology Fast 50 ranking, companies must have been in business for at least four years, have a minimum revenue of $50,000 in 2020 and $5 million in 2023, be headquartered in Canada, own proprietary technology, and invest a minimum of 5% of gross revenues in R&D activities that are conducted in Canada.

About the Deloitte Technology Fast 50 Program

The Deloitte Technology Fast 50 program is Canada's pre-eminent technology awards program. It recognizes business growth, innovation, and entrepreneurship in four distinct categories: Technology Fast 50, Enterprise – Industry Leaders, Clean Technology, and Companies-to-Watch. The program also recognizes thriving technology companies in the United States and Canada in partnership with the North American Technology Fast 500 program. Program sponsors for 2024 include RBCx, Osler, EDC, CCI, TMX, Clarity, and Lafond. For more information, visit www.fast50.ca.

About RideCo

RideCo is the leader in rider-centric on-demand transit technology, with the most adopted cloud-based paratransit and microtransit solution among the 10 largest cities in the United States. Trusted by agencies, as well as fleet operators and technology companies, the platform powers the largest on-demand transit services in North America including Los Angeles and Philadelphia. Houston and San Antonio have also adopted RideCo's transformative software, rooted in proprietary continuous optimization technology, and supported by the industry's best customer service, including a 95% plus retention rate.

From reducing overall travel time and encouraging sustainable public transit usage to improving operational efficiency and delivering the lowest total cost of ownership, RideCo's on-demand transit technology is advancing transit for riders and reshaping how transit agencies operate their services. To date, RideCo has been awarded U.S. patent numbers 10,248,913; 10,853,743; and 11,429,910. Visit www.rideco.com to learn more about revolutionizing mobility in your city.

SOURCE RideCo

John McLeod, RideCo, [email protected]