Vention named among Deloitte’s Technology Fast 500 winners for 2022
By DE StaffAutomation Machine Building
Montreal-based automation company lauded for its innovative technology and 964 percent revenue growth increase since 2018.
Montreal-based automation company, Vention, has been recognized for the second time as part of the 2022 Deloitte Technology Fast 500 award program. The Deloitte program annually lists Canada’s 500 fastest-growing technology companies based on the highest revenue-growth percentage over the past four years. Ranked at number 143, Vention experienced a 964 percent increase in revenue growth from 2018 to 2021.
Established in 2016, Vention is best known for its digital manufacturing automation platform (MAP), a combination of cloud software and a modular hardware ecosystem. With the company’s self-serve platform, users can design and simulate custom automated systems, via the company’s browser-based 3D CAD software, using a catalogue of plug-and-play automation components. MAP also tracks component and final system costs as systems are designed. Once the design is finalized, the components in the auto-generated bill of materials are delivered for deployment, along with assembly instructions.
“Vention’s mission to democratize industrial automation has never been more relevant,” said Vention CEO and co-founder, Etienne Lacroix. “With labor shortage, salary inflation and re-shoring of production, manufacturers are looking for new, innovative solutions to automate their factory floor. With a focus on ease of use, Vention’s manufacturing automation platform (MAP) has empowered all manufacturing professionals to become automation specialists.”
To qualify for the Deloitte Technology Fast 500 ranking, companies must have been in business for at least four years, have revenues of at least $5 million, be headquartered in Canada, own proprietary technology, conduct R&D activities in Canada and invest a minimum of five percent of gross revenues in R&D.