Qumu, Inc. Ranks 20th in Deloitte's Technology Fast 50 Program for Silicon Valley Software and Information Technology (IT) Companies
Award Recognizes vCompany's Rapid Growth over Past Five Years
Emeryville, CA — October 31, 2008 — Qumu, Inc., the leader in Enterprise Video Communications (EVC), today announced that it has been named to Deloitte's Technology Fast 50 Program for Silicon Valley Software and Information Technology (IT) companies. This year’s Silicon Valley Technology Fast 50 program is co-presented by Deloitte, Silicon Valley Bank, Korn/Ferry International, Cooley Godward Kronish LLP, Cornish & Carey Client Solutions, and ABD Insurance and Financial Services – A Wells Fargo Company. Rankings are based on the percentage revenue growth over five years from fiscal year 2003–2007.
“Deloitte’s Silicon Valley Technology Fast 50 companies have shown the strength, vision and tenacity to succeed in today’s very competitive technology environment,” said Mark Jensen, Managing Partner, National Venture Capital Services, Deloitte & Touche LLP, in Silicon Valley. “We applaud the successes of Qumu and acknowledge it as one of the very few to accomplish such a fast growth rate over the past five years.”
To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in fiscal year 2003 and $5,000,000 in fiscal year 2007, be headquartered in the San Francisco Bay Area, and be a company that owns proprietary technology or proprietary intellectual property that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies' technology or intellectual property in a unique way does not qualify.
Companies from the regional Technology Fast 50 programs in the United States and Canada are automatically entered in Deloitte’s Technology Fast 500 program, which ranks North America’s top 500 fastest growing technology, media, telecommunications and life sciences companies. For more information on Deloitte’s Technology Fast 50 or Technology Fast 500 programs, visit www.fast500.com.
Qumu’s ranking as #20 comes at a time when the use of video as the preferred choice for communicating in today's dispersed work environment is at an all-time high. Just as there has been rapid consumer adoption of web video technology, so too has web video usage increased within enterprises. Applications include live and on-demand webcasts, recorded videoconferences, employee training, executive briefings, and product announcements.
“Our solution appeals to the IT groups as we leverage existing infrastructure and abstract complexity in both the management and delivery of video within the enterprise,” said Claude Dupuis, vice president of engineering for Qumu. “The video creation people, also using our solution to create content, don’t need to rely on support from IT departments to schedule and deliver video events or content.”
About Qumu, Inc.
Video plays an increasingly strategic role in the way enterprises communicate internally and externally. Qumu, the leader in Enterprise Video Communications (EVC), enables organizations to easily capture, manage, publish and distribute live and on-demand video content. The company provides a single web services based software solution that seamlessly manages all video applications, and leverages existing video, storage and distribution hardware and software infrastructure. Customers worldwide, including AT&T, Abbott Labs, Capital One, Citigroup, Dell, eBay and others are experiencing the value of the company’s patented solutions. For more information, visit www.qumu.com.