CHARLESTON, S.C., Nov. 17, 2016 /PRNewswire/
-- Benefitfocus, Inc. (NASDAQ: BNFT), a leading provider
of cloud-based benefits management software, today announced it
ranked number 483 on Deloitte's Technology Fast 500™, a ranking of
the 500 fastest growing technology, media, telecommunications, life
sciences and energy tech companies in North America. Benefitfocus grew 127 percent
during this period.
The recognition follows the company's recent quarterly results
including:
- Ended the quarter with 827 large employer customers, up from
703 at the end of the year ago period and 803 at the end of the
second quarter of 2016.
- Signed 6 new national accounts with more than 10,000 lives
during the third quarter.
- Announced major platform upgrades in its Autumn 2016 Software
Release. This latest release gives consumers on the BENEFITFOCUS®
Platform the ability to complete open enrollment on their mobile
device using the BENEFITFOCUS® App or directly through the mobile
optimize BENEFITFOCUS® Marketplace.
"We continue to develop our technology platform so that
employers, insurance carriers and the consumers they serve have the
ability to stay ahead of unprecedented change and uncertainty in
the health care and employee benefits industries," said
Shawn Jenkins, Chief Executive
Officer of Benefitfocus. "Many are realizing the significant
advantages of adopting a modern enterprise benefits management
platform to improve plan design, increase employee engagement,
reduce administrative burdens and encourage a more personalized
benefits experience for associates. We're honored to be recognized
by Deloitte's Technology Fast 500 and share this success with our
customers, associates and stakeholders, who all echo our commitment
to improving lives through better benefits
information."
"Today, when every organization can be a tech company, the most
effective businesses not only foster the courage to explore change,
but also encourage creativity in using and applying existing assets
in new ways, as resourcefully as possible," said Sandra Shirai, principal, Deloitte Consulting
LLP and U.S. technology, media and telecommunications industry
leader. "This ingenious approach to innovation calls for the
encouragement of curiosity and collaboration both within and
outside the office walls."
"This year's Fast 500 winners showcase that when organizations
are open to diverse perspectives and insights, they are able to
create an environment for their employees and customers to see the
possibilities and ingenious solutions that might lie ahead," added
Jim Atwell, national managing
partner of the emerging growth company practice, Deloitte &
Touche LLP. "Entrepreneurial environments foster change and
innovation within businesses, and we look forward to watching these
companies continue to drive change across all sectors."
Overall, 2016 Technology Fast 500™ companies achieved revenue
growth ranging from 121 percent to 66,661 percent from 2012 to
2015, with median growth of 290 percent.
Learn more about Benefitfocus' solutions at
www.benefitfocus.com/solutions.
About Deloitte's 2016 Technology Fast 500™
Deloitte's Technology Fast 500 provides a ranking of the fastest
growing technology, media, telecommunications, life sciences 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 2012 to 2015.
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 $50,000
USD, and current-year operating revenues of at least
$5 million USD. Additionally,
companies must be in business for a minimum of four years and be
headquartered within North
America.
As used in this document, "Deloitte" means Deloitte LLP and its
subsidiaries. Please see www.deloitte.com/us/about for a
detailed description of the legal structure of Deloitte LLP and its
subsidiaries. Certain services may not be available to attest
clients under the rules and regulations of public accounting.
About Benefitfocus
Benefitfocus (NASDAQ: BNFT) provides a leading cloud-based
benefits management platform that simplifies how organizations and
individuals shop for, enroll in, manage and exchange
benefits. Every day leading employers, insurance companies and
the consumers they serve rely on our platform to manage, scale and
exchange benefits data seamlessly. In an increasingly complex
benefits landscape, we bring order to chaos so our clients and
their employees have access to better information, make better
decisions and lead better lives. Learn more at
www.benefitfocus.com, LinkedIn and Twitter.
Except for historical information, all of the statements,
expectations, and assumptions contained in this press release are
forward-looking statements. Actual results might differ materially
from those explicit or implicit in the forward-looking statements.
Important factors that could cause actual results to differ
materially include: the need to innovate and provide useful
products and services; changes in government regulations; the
immature and volatile nature of the market for our products and
services and other factors that could impact our anticipated
growth; management of growth; fluctuations in our financial
results; general economic risks; reliance on key personnel; our
ability to compete effectively; our ability to maintain our culture
and recruit and retain qualified personnel; privacy, security and
other risks associated with our business; and the other risk
factors set forth from time to time in our SEC filings, copies of
which are available free of charge within the Investor Relations
section of the Benefitfocus website at
http://investor.benefitfocus.com/sec.cfm or upon request
from our investor relations department. Benefitfocus assumes no
obligation and does not intend to update these forward-looking
statements, except as required by law.
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SOURCE Benefitfocus, Inc.