Austin, Nov. 21, 2024 (GLOBE NEWSWIRE) -- Austin, Texas -

VORAGO Technologies today announced it ranked no. 285 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, now in its 30th year. VORAGO grew 408% over the past three years.

VORAGO's chief executive officer, Bernd Lienhard, credits the company's 408% revenue growth to the strength of VORAGO's portfolio to support a wide range of space applications, along with growth in the space market, especially with commercial space. He said, "It's an exciting time for our business as the space market continues to grow and expand. With the emergence of the LEO [Low Earth Orbit] economy and more and more players entering the commercial space market, there is significant need for microcontrollers and microprocessors that can withstand radiation and support applications ranging from traditional communications, command and control functions all the way to artificial intelligence. VORAGO has been a leader in radiation hardening for many years, and we have now expanded our portfolio to include radiation-tolerant solutions with the launch of our VA7230 radiation-tolerant edge computing microprocessor this year. Our team is always looking ahead at the needs of the market and how we can support the next phase of growth and innovation in space."

"For 30 years we've been celebrating companies that are actively driving innovation. The software industry continues to be a beacon of growth, and the fintech industry made a strong showing on this year's list, surpassing life sciences for the first time," said Steve Fineberg, vice chair, U.S. technology sector leader, Deloitte. "Significantly, we also saw a breakthrough in performance of private companies, with the highest number of private companies named to the list in our program's history. This year's winners have shown they have the vision and expertise to continue to perform at a high level, and that deserves to be celebrated."

"Innovation, transformation and disruption of the status quo are at the forefront for this year's Technology Fast 500 list, and there's no better way to celebrate 30 years of program history," said Christie Simons, partner, Deloitte & Touche LLP and industry leader for technology, media and telecommunications within Deloitte's Audit & Assurance practice. "This year's winning companies have demonstrated a continuous commitment to growth and remarkable consistency in driving forward progress. We extend our congratulations to all of this year's winners - it's an incredible time for innovation."

VORAGO Technologies was previously honored as a Technology Fast 500 award winner for 2023.

About the 2024 Deloitte Technology Fast 500

Now in its 30th 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 2020 to 2023.

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.

About VORAGO Technologies

VORAGO leads the industry in providing radiation hardened and radiation tolerant microcontrollers and microprocessors for Aerospace, Defense and Industrial projects around the globe. VORAGO's patented HARDSIL® technology uses cost-effective, high-volume manufacturing to harden any commercially designed semiconductor component for extreme environment operations. VORAGO primarily serves Aerospace & Defense customers in North America and Europe and has a deep flight heritage. VORAGO is a privately held company based in Austin, Texas. Learn more at voragotech.com.

About Deloitte

Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world's most admired brands, including nearly 90% of the Fortune 500® and more than 8,500 U.S.-based private companies. At Deloitte, we strive to live our purpose of making an impact that matters by creating trust and confidence in a more equitable society. We leverage our unique blend of business acumen, command of technology, and strategic technology alliances to advise our clients across industries as they build their future. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Bringing more than 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte's approximately 460,000 people worldwide connect for impact at www.deloitte.com.

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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For more information about VORAGO Technologies, contact the company here:

VORAGO Technologies

Hadley Hempel

hhempel@voragotech.com

1501 South MoPac Expy, Suite #350 Austin, TX 78746 USA

CONTACT: Hadley Hempel