Rafay Recognized on the 2024 Deloitte Technology Fast 500™

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Attributes 468% Revenue Growth to High Demand of the Company’s Solutions for AI and Accelerated Computing Use Cases

Rafay Recognized on the 2024 Deloitte Technology Fast 500™

Media Contact
Audrey Briers
Bhava Communications for Rafay
rafay@bhavacom.com
(858) 522-0898

Rafay Systems, the leading provider of Platform-as-a-Service (PaaS) capabilities for cloud-native and GPU and AI consumption, today announced its inclusion in the Deloitte Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech and energy tech companies in North America. Rafay has been recognized for its 468% revenue growth from 2020 to 2023.

“Over the past year, our customer base has grown significantly across a variety of industries spanning financial institutions, biotechnology, data management, healthcare, telecommunications, government institutions and more,” said Haseeb Budhani, CEO and co-founder of Rafay Systems. “As enterprises continue to heavily invest in AI infrastructure, it’s essential that platform teams are properly equipped to make developers and data scientists successful in this GenAI era. The Rafay Platform evolves alongside customer needs. We’re committed to providing self-service consumption of accelerated computing infrastructure so enterprises’ AI projects can make a real impact. Our placement on the Deloitte Technology Fast 500 is a testament to our product-led approach to platform engineering as we make cloud-native, AI and GenAI initiatives more accessible and manageable for enterprises.”

According to Rafay’s 2024 report, “The Pulse of Enterprise Platform Teams: Cloud, Kubernetes and AI,” nine in 10 organizations have a defined platform engineering team and 87% of those who don’t, plan to build one in the next year. Platform teams are emerging as key facilitators of AI and GenAI implementation and governance. They are under immense pressure to provide the necessary infrastructure and tooling for development teams to efficiently build and run applications in the cloud. Additionally, CIOs are looking to realize returns on GPU infrastructure investments, but it currently takes platform teams one to two years to build the infrastructure that will deliver the appropriate resources to developers. This leaves developers and AI initiatives in limbo and furthers the need for a solution that accelerates these projects.

Rafay’s systematic, product-led approach to platform engineering makes it easy for developers and data scientists to gain access to high-quality workflows and self-service capabilities that abstract the complexities of cloud-native software and AI application development and operations. With Rafay, any platform engineering team can build and operate their own enterprise-ready PaaS to deliver standardized Kubernetes infrastructure and automated workflows to developers and data scientists, resulting in high value returns for CIOs.

“For 30 years we’ve been celebrating companies that are actively driving innovation. The software industry continues to be a beacon of growth, and the fintech industry made a strong showing on this year’s list, surpassing life sciences for the first time,” said Steve Fineberg, vice chair, U.S. technology sector leader, Deloitte. “Significantly, we also saw a breakthrough in performance of private companies, with the highest number of private companies named to the list in our program’s history. This year’s winners have shown they have the vision and expertise to continue to perform at a high level, and that deserves to be celebrated.”

“Innovation, transformation and disruption of the status quo are at the forefront for this year’s Technology Fast 500 list, and there’s no better way to celebrate 30 years of program history,” said Christie Simons, partner, Deloitte & Touche LLP and industry leader for technology, media and telecommunications within Deloitte’s Audit & Assurance practice. “This year’s winning companies have demonstrated a continuous commitment to growth and remarkable consistency in driving forward progress. We extend our congratulations to all of this year’s winners — it’s an incredible time for innovation.”

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About the 2024 Deloitte Technology Fast 500

Now in its 30th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, 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 2020 to 2023.

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 US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.

About Rafay Systems

Rafay’s mission is to liberate enterprises from the pains and complexities of consuming modern compute infrastructure, allowing them to channel 100% of their developers’ focus into innovation. Companies such as MoneyGram, Guardant Health and MassMutual entrust Rafay to be the cornerstone of their AI and cloud-native infrastructure strategy. Teams rely on Rafay’s product-led approach to platform engineering to deliver a Platform-as-a-Service (PaaS) experience to developers and data scientists, while ensuring strict security and cost policy enforcement. Gartner has recognized Rafay as a Cool Vendor in Container Management and GigaOm named Rafay as a Leader and Outperformer in the GigaOm Radar Report for Managed Kubernetes, acknowledging our commitment to driving innovation. To join the ranks of industry leaders who have unlocked the true potential of cloud-native computing with Rafay Systems, please visit www.rafay.co.

About Deloitte

Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world’s most admired brands, including nearly 90% of the Fortune 500® and more than 8,500 U.S.-based private companies. At Deloitte, we strive to live our purpose of making an impact that matters by creating trust and confidence in a more equitable society. We leverage our unique blend of business acumen, command of technology, and strategic technology alliances to advise our clients across industries as they build their future. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Bringing more than 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte’s approximately 460,000 people worldwide connect for impact at www.deloitte.com.

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