Ranking highlights the company’s rapid revenue growth from 2017 to 2020
NEW YORK, November 22, 2021 (GLOBE NEWSWIRE) – Latch, Inc. (NASDAQ: LTCH) (“Latch” or the “Company”), makers of LatchOS, the complete enterprise software as a service (SaaS), announced today that it ranks 101st Deloitte Fast 500 technology™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences, fintech and energy technology companies in North America, now in its 27e year.
“As we relentlessly pursue our mission of making all spaces better places to live, work and visit, I am incredibly proud of our team’s focus on innovation and delivering exceptional homeowner experiences. , the operators and residents we serve, ”said Luke Schoenfelder, Latch Co-Founder, CEO and Chairman of the Board. “Real estate is the largest asset class in the world and the market demand for technology like ours has never been higher. As we look to the future, I’m excited to bring the power of LatchOS to even more spaces and people around the world.
In 2021, Latch achieved several milestones. The company went public on the Nasdaq Global Select Market in June and successfully launched a series of new products earlier in the year. These include the LatchOS Pilot Project for Commercial Offices, Latch Visitor Express, the Latch Lens Partner Program and Latch C2. Latch also leveraged its open ecosystem strategy with new property management software (ePMS) integrations for Yardi and Entrata, and new product partnerships with Marks USA, a division of NAPCO Security Technologies, and TownSteel, Inc., as well as a planned partnership with dormakaba Holding AG.
About the 2021 Deloitte Technology Fast 500 ™
Now in his 27e The Deloitte Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences, fintech and energy companies, both public and private, in North America. Technology Fast 500 award winners are selected based on percentage revenue growth in fiscal year 2017 to 2020.
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 the majority of the company’s operating revenue. Companies must have base year operating income of at least $ 50,000 and current year operating income of at least $ 5 million. In addition, companies must have been in business for at least four years and be headquartered in North America.
Overall, 2021 Technology Fast 500 ™ companies recorded revenue growth ranging from 212% to 87,037% from 2017 to 2020, with a median growth of 521%.
About Latch, Inc.
Latch makes spaces better places to live, work and visit through a system of software, devices and services. In the United States, more than one in ten new apartments are currently built with Latch products, serving customers in more than 43 states through its flagship operating system, LatchOS. For more information, please visit https: //www.latch.com.
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This press release contains certain forward-looking statements within the meaning of federal securities laws, including statements regarding the adoption of Latch’s technology and products. These forward-looking statements are generally identified by the words “believe”, “plan”, “expect”, “anticipate”, “estimate”, “intend”, “the strategy”, “the future”, ” opportunity “,” plan, “” may “,” should “,” should “,” continue “,” is likely to result “and similar expressions. Forward-looking statements are predictions, projections and other statements regarding future events that are based on current expectations and assumptions and, therefore, are subject to risks and uncertainties. Forward-looking information includes, without limitation, statements regarding: the future products, performance and operations of the Company, and the related benefits to shareholders, customers and residents and the strategy of the Company. Many factors could cause actual future events to differ materially from the forward-looking statements contained herein, including Latch’s ability to implement business plans and changes and developments in the industry in which Latch operates. in competition. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and other risks and uncertainties described in the “Risk Factors” section of our registration statement on Form S-1 filed with the SEC on June 25, 2021 and other filings. by Latch from time to time with the second. These documents identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in forward-looking statements. Forward-looking statements speak only as of the date on which they are made. Readers are cautioned not to place undue reliance on forward-looking statements, and the company assumes no obligation to update or revise such forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law, including United States securities laws and SEC rules and regulations. The Company gives no assurance that it will meet its expectations.