Later, the leading visual social marketing platform for Instagram, Facebook, Twitter, Pinterest, and TikTok, is presented the Deloitte Technology Fast 50™ program award for its rapid revenue growth, entrepreneurial spirit and bold innovation. The program recognizes Canada’s 50 fastest-growing technology companies with the highest revenue-growth percentage over the past four years. Later ranks 16 with a 1,074 percent in revenue growth from 2016 to 2019.
The Deloitte Technology Fast 50 program winners consist of public and private companies in the technology sector, which have transformed the industry. Now in its 23rd year, the program runs alongside the broader Deloitte North American Technology Fast 500™, with winners automatically eligible for this elite ranking.
Later’s Chief Operating Officer and Founder, Matt Smith, credits the company’s first-to-market status, strategic product iteration, and ongoing emphasis on building solutions and resources that address the barriers to success facing small businesses, for the company’s 1074 percent revenue growth.
“Later started as a hack week project in Vancouver in 2014, with the goal of simplifying visual social media marketing for businesses. With over four million users in tow, we’ve achieved a level of success that we could not have imagined if it were not for the businesses that trust us. The Deloitte Technology Fast 50™ award is testament to that,” says Smith. “Helping our small and medium-sized business users not only succeed online, but compete with global enterprises, has and will continue to shape the evolution of our business. We’re dedicated to teaching this critical segment of the workforce how to expand their online communities, build long-lasting relationships with them, and then develop viable products, services, and revenue streams online. But, more than anything, our goal is to empower entrepreneurs to spend less time manually posting to social media channels, and more time building their businesses.”
“This year’s Fast 50 winners should be especially proud of this designation, as their role in the fabric of Canadian business—particularly during these turbulent times—is crucial,” said Erica Pretorius, partner and national leader for the Technology Fast 50 program at Deloitte Canada. “Their bold vision and true commitment to innovation allow them to not only improve today’s world, but also shape tomorrow’s, despite the constant uncertainty. This year’s winners are proving themselves resilient, innovative and adaptable, all in an unpredictable year defined by economic instability and the continuing public health crisis.”
To qualify for the Deloitte Technology Fast 50 ranking, companies must have been in business for at least four years, have revenues of at least $5 million, be headquartered in Canada, own proprietary technology, conduct research and development activities in Canada and invest a minimum of five percent of gross revenues in R&D.
This is Later’s first appearance on Deloitte’s 2020 Technology Fast 50™. The company also ranked 111 on Deloitte’s 2020 Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences and energy tech companies in North America now in its 26th year. Overall, 2020 Technology Fast 500™ companies achieved revenue growth ranging from 175% to 106,508% from 2016 to 2019, with median growth of 450%.