Rafay Recognized on the 2024 Deloitte Technology Fast 500™

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

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.”

Resources