Appinventiv, a global digital engineering leader, has joined the APAC High-Growth Companies list of 2024, owing to its impressive absolute revenue growth of 357.6% from 2019 to 2022. The tech giant is now ranked at #174 among the Top 500 companies of the Asia Pacific region. With a consistent client success rate of 97%, the company grew its annual revenue from $4.31 million in 2019 to $19.72 million in 2022.
This is the sixth annual ranking of 500 high-growth Asia-Pacific companies, compiled by the Financial Times and Statista. The financial performance analysis revealed that the IT and software sector accounts for 1/3rd of the top 500 companies in this year’s ranking.
“I want to applaud not only Appinventiv but all the IT industry players who sustained a strong stance during the peak periods of uncertainty. It is inspiring to see that over 30% of the Top 500 companies belong to the IT and software sector,” said Saurabh Singh, CEO of Appinventiv.
Leading The Growth Race
Statista identified tens of thousands of companies in Asia-Pacific as potential candidates for the ranking. However, Appinventiv’s exponential revenue growth surpassed thousands of performance graphs and landed in the #174 rank with a CAGR of 66%. The company gained a position of #43 in the industry ranking.
Championing A Stringent Evaluation Process
The submitted revenue figures had to be certified by the company’s chief financial officer, chief executive, or a member of its executive committee. For eligibility, all companies had to meet the below minimum requirements:
- Revenue of at least $100,000 generated in 2019 (or currency value equivalent as of 2019)
- Revenue of at least $1mn generated in 2022 (or currency value equivalent as of 2022)
- Revenue growth between 2019 and 2022 that was primarily organic (ie, “internally” generated)
- An independent company (not a subsidiary or branch office of any kind) headquartered in one of these 13 territories in the Asia-Pacific region: Australia, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam.
Continuing The Growth Streak
Appinventiv’s future business plans are strategically aligned to sustain and grow revenues through a strong global footing. Through five global excellence centers, it has already established its name in prominent international markets such as the UAE, the US, the UK, Australia, and Europe. Another concrete revenue support for the company comes from critical federal projects of the Indian and Qatar Governments.
Staying Adept With The Latest In Tech
The team of 1600+ tech experts is heavily investing in the R&D of the latest technologies and innovations to stay on top of the latest industry demands like AI, IoT, cybersecurity, and cloud computing. In the last 3 years, the tech leader has expanded its service portfolio manifold by developing state-of-the-art processes and deploying top in-house resource capabilities.
Nurturing A Proactively Productive Culture
Appinventiv’s approach to managing business during the COVID-19 crisis helped it retain top-quality resources while sustaining a positive growth trend. The company conducted 3 increment cycles during the lockdown period to boost employee morale, resulting in the best-in-class output when other industry leaders struggled to sustain basic operations.
Appinventiv has also mastered the early mover advantage and demonstrated its expertise in the
growing demands of generative AI and Web 3.0 applications for 30+ industries. With proactive end-to-end consultation and support, Appinventiv has delivered 3000+ digital assets with a whopping 97.5% client satisfaction rate.
About APAC High-Growth Companies Award 2024
The Asia-Pacific High-Growth Companies ranking is a list of the Top 500 companies in the region that have achieved the highest growth rate in revenues between 2019 and 2022 (China has been omitted due to difficulties in verifying data). The annual high-profile list compiled by Statista and the Financial Times is a visible and public acknowledgment of fast-growing companies in the Asia-Pacific region, published online and as a supplement to the weekday edition of the FT newspaper.
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