My spies have tipped me off about some interesting news for cVidya, the Israeli business assurance vendor. cVidya has been ranked amongst Deloitte’s Israeli Technology Fast 50 for the third year running. This year cVidya were 10th on the list, with reported revenue growth of 413% over a five-year period. In other words, their revenues in the financial year ending 2011 were 513% of the revenues they had reported in the financial year ending 2007. This growth is seemingly stated after including the additional revenues that flowed from the takeover of ECtel. cVidya made the 2011 Fast 50 with 5-year growth of 558%. However, in 2010, the pre-merger cVidya boasted much higher 5-year growth, at a stunning 1213%. Back then, cVidya CEO Hopalong Aginsky said:
“We presented revenue growth of over 1200% in the last 5 years which does not include our 2010 acquisition of ECTel. We are extremely proud of this achievement and confident that we will be able to top this next year, with the merged company’s figures.”
The slowing rate of growth is not that surprising – it is easier to attain stunning rates when starting from a low base. What is interesting is that cVidya’s management wanted and expected more. Perhaps that explains why cVidya have chosen not to highlight their inclusion in this year’s list.