M5 Networks Ranks 19th in Deloitte's 2007 Technology Fast 50 Program for New York
Company Attributes More Than 728 Percent Revenue Growth from 2002 to 2006 to Growing Awareness of Voice as a Service Technology
New York – M5 Networks, the market leader in delivering phone system functionality as a service, has been named to Deloitte's prestigious Technology Fast 50 Program for the New York region. The Technology Fast 50 is a ranking of the 50 fastest growing technology, media, telecommunications and life sciences companies in the New York area and 15 other regions in the United States and Canada. Sponsored by Deloitte & Touche USA LLP, one of the nation’s leading professional services organizations, the rankings are based on the percentage of revenue growth over five years from 2002–2006.
“Deloitte’s New York Technology Fast 50 companies have shown the strength, vision and tenacity to succeed in today’s very competitive technology environment,” said Ed Moran, director of product innovation of Deloitte Services LP, New York. “We applaud the successes of M5 Networks and acknowledge it as one of the very few to accomplish such a fast growth rate over the past five years.”
M5 Networks increased revenues 728 percent from 2002 to 2006, resulting in a number 19 ranking in the New York region’s Technology Fast 50. Dan Hoffman, president and chief executive officer of M5 Networks, credits M5’s impressive revenue growth to the company’s dedication to supporting its clients through the business transforming technology of M5 Voice as a Service.
“M5’s ranking as 19 in the New York region is a validation of the company’s business model and culture of service,” said Hoffman. “Our clients know that we are focused on helping them apply rapidly progressing VoIP technology to improve their business operations. Our revenue growth is a direct reflection of our commitment to our clients’ success, which has become the determining factor in our own achievements.”
To qualify for the Technology Fast 50, companies must be headquartered in North America and have base-year operating revenues of at least $50,000 in 2002 and operating revenues of at least $5 million in 2006. In order to be eligible, companies must own the proprietary technology or intellectual property that contributes to a significant portion of the company’s revenue growth or devote a significant proportion of revenues to the research and development of technology. Using another companies' technology or intellectual property in a unique way does not qualify.
Winners of the 16 regional Technology Fast 50 programs in the United States and Canada are eligible to be entered into the Deloitte’s Technology Fast 500 program, which ranks North America’s top 500 fastest growing technology, media, telecommunications and life sciences companies. For more information on Deloitte’s Technology Fast 50 or Technology Fast 500 programs, visit http://www.fast500.com.
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About M5 Networks
M5 Networks is the pioneer of "Voice as a Service," a breakthrough solution for business phone communications. Industry experts tell us that in ten years, no business will have a phone system – they will require phone system capabilities as an on-demand, managed service over an IP network optimized for voice – in other words, Voice as a Service. Today M5 serves a rapidly growing base of mid-sized businesses. Our solution is distinguished by the rich capabilities and unmatched service that one would expect from an industry leader.
M5 Networks has received considerable recognition and was named to the 2006 Inc. 500 (#272) and both the 2006 Deloitte Technology Fast 500 (#54) and New York Technology Fast 50 (#5). M5 was recognized by CRN as one of the top 15 Key VoIP Players in 2007 and received Frost & Sullivan’s 2004 Entrepreneurial Company Award. M5 has also been included on the Pulver 100 list for six consecutive years and Fierce VoIP’s Fierce 15 list in 2005 in addition to receiving numerous other accolades. To learn more about M5, please visit http://www.shoretelsky.com.