November 13, 2015 - Colorado Springs, CO. - Cherwell Software today announced it ranked 220 on Deloitte’s 2015 Technology Fast 500™ award winners, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America. Cherwell Software is pleased to report growth of 341 percent between 2011 and 2014.
The company attributes its growth not only to the strength of its technology offerings, but also to its strong commitment to customer success, as evidenced by its 98%+ customer retention rate. “We are honored to be recognized on Deloitte’s Technology Fast 500™ for the second time”, said Cherwell CEO and Co-founder, Vance Brown. “Our business continues to gain momentum based on our core beliefs of putting customers first by listening to and meeting their needs, providing innovative products and delivering an extraordinary customer experience.”
The company announced record growth and bookings for the third quarter of fiscal year 2015, ending September 30, 2015. Market demand for the Cherwell Service Management™ and Express Software Manager® solutions drove year-over-year new bookings growth of approximately 65% in Q3.
In order to be eligible for Deloitte’s Technology Fast 500 award program, 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. Additionally, companies must be in business for a minimum of four years and be headquartered in North America.