CT’s 40 Fastest Growing Tech Companies Achieve Statewide Recognition

Connecticut’s fasted growing technology companies will be the center of attention Thursday evening as the Connecticut Technology Council (CTC) and Marcum LLP spotlight the 2014 Marcum Tech Top 40. Now in its 7^th year, the annual list features privately and publicly held companies, including some newcomers to the top 40. The 2014 winners are predominantly privately held companies, but 12 public companies also made the list, including Rogers Corporation, Gartner Inc. and Alexion Pharmaceuticals. That’s a slight drop from a year ago, when 14 public companies made the list.

Geographically, Fairfield County is home to 16 winning companies this year, followed by Hartford County and New Haven County, both with ten companies. For Fairfield and New Haven counties, the count increased by two businesses from a year ago; for Hartford County, the number was unchanged from last year.

The selected companies have at least $3 million in annual revenue and a demonstrated record of growth in each of the preceding four years. Four of the businesses have over $1 billion in revenue.

The Marcum Tech Top 40 recognizes technology leaders in six industry sectors, including Advanced Manufacturing, Energy/Environmental, Life Sciences, New Media/Internet/Telecom, IT Services, and Software. This year’s winners range from newcomer VRSim, Inc., a creator of virtual reality training tools for industrial and manufacturing applications, to Priceline.com, a leader in mobile travel.

Bruce Carlson, CTC’s President and CEO added, “Connecticut is proud of its remarkable heritage of innovation and invention. Job growth in Connecticut is going to come from the technology sector and these Tech Top 40 companies are a great example of the range of technology companies that are growing substantially in Connecticut.”

Among the names on this year’s list: Frontier Communications, based in Stamford, providing communications services to residential and business customers across the country (in the news this year for the proposed purchase of AT&T’s business in Connecticut); and Bolt Technology Corporation, based in Norwalk, the leading worldwide developer and manufacturer of seismic energy sources, synchronizers and underwater connectors used in offshore seismic exploration for oil and gas; and Fitlinxx, based in Shelton, an industry leading provider of wellness applications, wireless activity monitors, and health tracking devices that motivate people to live active and healthy lifestyles.

The city with the largest number of companies on the Top 40 list this year is Stamford, with six, followed by Norwalk with four, Shelton with three, and Wallingford, South Windsor, Simsbury and New Haven, each with two businesses on the list. Other towns with a top 40 high tech busine connecticut-technology-council ss are Torrington, Danbury, West Hartford, Cheshire, Guilford, Greenwich, Plainville, Middlebury, New London, Killingly, Middletown, Fairfield, Madison, Branford, Farmington, Glastonbury, Windsor, Orange and East Hartford.

“Technology companies have a set of shared challenges that range from capital-raising and complex revenue reporting to intellectual property management and international expansion. Whether they are private enterprises or Fortune 500 companies, this year’s Marcum Tech Top 40 winners all demonstrate management excellence and market foresight,” said Alex Discepolo, a Tax Partner in Marcum’s New Haven office and Practice Leader of the Firm’s High Technology Services Group.

The October 2 awards program, being held at the Oakdale Theater in Wallingford, will include an exhibition featuring the Marcum Tech Top 40 companies. Six category winners will be announced, and one company will be named overall winner for demonstrating the greatest percentage growth in revenue across all the technology verticals.

The Connecticut Technology Council is a statewide association of technology oriented companies and institutions, providing leadership in areas of policy advocacy, community building and assistance for growing companies. Speaking for 2,500 companies that employ some 200,000 residents, the Connecticut Technology Council seeks to provide a strong and urgent voice in support of the creation of a culture of innovation.

The Tech Top 40:

Advanced Manufacturing