TORONTO, ONTARIO--(Marketwire -10/19/11)- Online software maker Wave Accounting (http://waveaccounting.com) was named one of Deloitte's Companies-to-Watch during the Fast 50™ Awards event held in Toronto last night. Deloitte's Companies-to-Watch honours innovative early stage technology companies that have been in business for less than five years.
"We're very pleased to have been recognized by Deloitte's Companies-to-Watch award," says Kirk Simpson, president and CEO of Wave. "It's another proof point that our technology and our business are breaking new ground and making a difference to our small business customers, in Canada, the U.S. and around the world."
Wave Accounting's 100% free accounting application is the fastest-growing online financial tool for small businesses. In 11 months of operation, it has signed up 75,000 small businesses in 198 countries. Wave generates revenue by presenting customers with ultra-targeted, privacy-protective advertising. Advertising partners to date include American Express, Grand & Toy, Dell and several dozen others.
Companies-to-Watch winners are widely viewed as potential global leaders in technology sectors that didn't even exist five years ago. To win the award, companies must display the kind of management expertise and superior technology that mark a successful early-stage company poised for continued growth. They must also be headquartered in Canada and devote a significant portion of their operating revenues to creating proprietary technology and/or intellectual property.
"Companies-to-Watch award winners frequently go on to score high rankings in the Deloitte Technology Fast 50™ once they have a five-year track record," said Richard Lee, National Leader, Technology, Media & Telecommunications Industry Group, Deloitte. "Wave has quickly distinguished itself for its innovative technology and entrepreneurship and this award recognizes its potential as a future leader in the Canadian technology industry."
About Wave Accounting
Based in Toronto, WaveAccounting.com focuses on small businesses with 9 employees or less, offering them real, ridiculously easy accounting with unlimited invoicing and expense tracking, accountant-friendly tools and reports, personal finance and more-all completely free. Sign up at WaveAccounting.com.
About the Deloitte Technology Fast 50™
The Deloitte Technology Fast 50™ program is Canada's pre-eminent technology awards program, celebrating business growth, innovation and entrepreneurship. Program sponsors include Deloitte, Gowlings, Wellington Financial, TMX Group, HKMB Hub International, National Angel Capital Organization, CVCA, MaRS and IGLOO Software. For further information, visit www.fast50.ca.