Toronto — Camilion Solutions, a provider of product development solutions and policy administration systems to the insurance industry, announced that global media company, Red Herring, selected Camilion as a Top 50 winner in the software category for 2008. The Red Herring Canada Top 50 Award celebrates the most innovative and promising private companies in Canada, based on technology innovation, management strength, market size, investor record, customer acquisition and financial health.
Red Herring's editorial staff evaluated the nominees on both quantitative and qualitative criteria, such as financial performance, technology innovation, quality of management, execution of strategy and integration into their ecosystem.
Camilion also ranked in the Deloitte Technology Fast 50, a listing of the 50 fastest-growing technology companies in Canada, based on the percentage of revenue growth over five years. Camilion's increase in revenues of 1,897% from 2003 to 2007 resulted in a No. 13 ranking.
For more than a decade, the Deloitte Technology Fast 50 program has tracked the growth of Canadian global leaders. Now Canada's pre-eminent technology award program, the Deloitte Technology Fast 50 augments the broader Deloitte North American Technology Fast 500 initiative, with winners automatically eligible for this elite ranking, Deloitte says.
"Transforming technological innovation into business success is challenging, and it's especially difficult to sustain such rapid revenue growth over five years," says John Ruffolo, national leader, technology, media telecommunications industry group, Deloitte. “Camilion Solutions has rapidly built a highly successful company in the Canadian technology industry, and we applaud their dedication and ability to transform their vision into reality.”
Camilion's CEO Ross Orrett credits the U.S. insurance market's rapid adoption of its solutions with the company's exceptional growth over the past 12 months. "In just the past year, we have more than doubled our customer base, which includes the world's largest insurers," Orrett says. "Being ranked in the Deloitte Technology Fast 50 with such an elite group of innovative companies is an honor for Camilion. This award is a tribute to our employees and the courageous execution that our high-performance team exhibits.
Source: Camilion Solutions Inc.
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