Continuity has had revenue growth of 1,142 percent since 2011.
A software firm that helps community banks comply with government regulations has been named as the fastest growing technology company in the state.
Continuity is one of 40 companies honored in six industries by the Marcum Tech Top 40.
Continuity was founded in New Haven in 2008, in the teeth of the deepest recession in the U.S. since the 1930s.
The company has an unusual mission: helping community banks and credit unions around the country wade their way through some 10,000 government regulations.
CEO Andy Greenawalt likens their software service to QuickBooks for compliance.
"Our growth is a testament to the fact that when we weigh into a particular area, we’re doing things like cutting the cost for our clients in half or more," Greenawalt told WNPR. "Those type of impacts have driven a very change-resistant market to be adopting us at a very fast clip."
So fast, in fact, that Continuity has had revenue growth of 1,142 percent since 2011.
The company came out on top of the Marcum Tech Top 40 listing, among a particularly strong software field.
The other category winners:
Revolution Lighting Technologies Inc., Stamford (Advanced Manufacturing) FuelCell Energy, Inc., Danbury (Energy/Environmental Technologies) Alexion Pharmaceuticals, Inc., Cheshire (Life Sciences) iSend, LLC, Middlebury (New Media/Internet/Telecom) Datto, Inc., Norwalk (IT Services)
Core Informatics, a company that helps scientific companies manage data, was another honoree. CEO Josh Geballe said the company has grown five-fold in employment over the last two years, and just added its 80th employee.
“Many of our clients are pharmaceutical companies, biotech companies that are working on new therapeutics, cures and treatments for diseases,” Geballe said. “In the past a lot of organizations would manage their scientific data on spreadsheets. We’re bringing them a cloud-based software solution that’s highly flexible and scalable, that can keep up with the innovation that’s going on in science today.”
Geballe said that events and rankings like the Marcum Tech Top 40 have a serious purpose. "We have a great story to tell here in Connecticut that I don’t think gets told often enough about the innovation and the exciting things that are going on in the technology sector here," he said.
Geballe said telling that story will help the state recruit top talent to come live and work here.
Andy Greenawalt of Continuity agreed that it's vital to recognize the companies that are not always household names. "We live amongst giants, like Travelers, or Aetna, or General Electric," he said. "And oftentimes, the little companies that are redefining industries aren’t really visible the way they are in Boston or Silicon Valley."
Other industries honored in the Tech Top 40 were advanced manufacturing; energy and environmental technology; IT services; life sciences; and new media, Internet and telecoms.
The list is organized by the Connecticut Technology Council. "One of the things that we hear all the time is you can’t grow a company in Connecticut," said council CEO Bruce Carlson. "And yet here, look at these 40 companies that we’re celebrating — they’re all growing. And one of the things that we want to do here at the Tech Council is to understand better, what’s the secret sauce that helps these companies grow."
And Carlson said, also to advocate for the right public policy that will help more fast-growing tech companies to make Connecticut their home.
