Vention announced as one of Deloitte's Technology Fast 50™ program winners for 2023

A unified digital platform to empower manufacturers to become
automation specialists

MONTREAL, Nov. 8, 2023 /CNW/ - Vention, the leading digital manufacturing automation platform (MAP), was recognized for the third time as part of the 2023 Deloitte Technology Fast 50™ awards program for its rapid revenue growth, entrepreneurial spirit, and bold innovation.

Celebrating its 26^th anniversary, the program recognizes Canada's 50 fastest-growing technology companies based on the highest revenue-growth percentage over the past four years. Vention ranks 29 with a 636 percent in revenue growth from 2019 to 2023.

Vention is democratizing the $180B+ industrial automation market. Since 2016, Vention has empowered high-mix manufacturers to implement industrial automation through cloud software and a modular hardware ecosystem. The self-serve platform combines a suite of easy-to-use engineering software and plug-and-play automation components, enabling manufacturing professionals to design, automate, order,deploy, and operate automated equipment directly from their web browsers, erasing the boundaries between the digital and physical worlds.

"Vention's commitment to make industrial automation accessible has never been stronger. As the manufacturing landscape grapples with labor shortages, rising salaries, and a surge of localized production, the need for innovative solutions to automate factory operations is on the rise," said Etienne Lacroix, CEO and Co-Founder of Vention. "With a focus on ease of use, Vention's Manufacturing Automation Platform (MAP) empowers every manufacturing professional to become an automation specialist."

Deloitte's Technology Fast 50 program winners consist of public and private companies in the technology sector that are transforming the industry. The program runs alongside the broader Deloitte North American Technology Fast 500, with winners automatically eligible for this elite ranking.

"It's inspiring how this year's exceptional cohort of Technology Fast 50 winners have delivered outstanding revenue growth even in the face of prevailing uncertainties in the economy and marketplace," commented Anders McKenzie, partner and national leader for the Technology Fast 50 program at Deloitte Canada. "Fueled by exemplary innovation, creativity, resilience, adaptability, along with superior business leadership, these companies are paving the way as catalysts in their respective sectors and delivering growth and value to the Canadian economy both at home and beyond."

To qualify for the Deloitte Technology Fast 50 ranking, companies must have been in business for at least four years, have a minimum revenue of $50,000 in 2019 and $5 million in 2022, be headquartered in Canada, own proprietary technology, conduct research, and development activities in Canada and invest a minimum of five percent of gross revenues in R&D.

About the Deloitte Technology Fast 50™ program
The Deloitte Technology Fast 50 program is Canada's pre-eminent technology awards program. Celebrating its 26^th anniversary, the program recognizes business growth, innovation, and entrepreneurship in four distinct categories: Technology Fast 50 ranking, Enterprise—Industry leaders, Clean Technology, and Companies-to-Watch. The program also recognizes companies within the North American Technology Fast 500 ranking, identifying thriving technology companies in the United States and Canada. The 2023 program sponsors include Deloitte,  RBCx, Osler, EDC, CCI, TMX, Clarity, and Lafond. For further information, visit www.fast50.ca.

About Vention
Vention helps some of the most innovative manufacturers automate their production floors in just a few days through a democratized user experience. Vention's digital manufacturing automation platform allows clients to design, automate, order, and deploy automated equipment directly from their web browsers. Headquartered in Montreal, Canada, with offices in Berlin and Boston, Vention's 300+ employees serve 4,000+ customers on five continents and 25 manufacturing industries.

Over the years, the company has been awarded many business and industry recognitions. In 2022 only, the company was awarded the prestigious Deloitte 2022 Technology Fast 50m, Report on Business Canada's top growing company, and Best Work Place (for professional development).

For more information, visit vention.com or follow us on LinkedIn.

*MachineMotion, MachineLogic, MachineCloud, and Vention are trademarks of Vention Inc.

SOURCE Vention Inc.

Media Contact: Sophie Ducharme, [email protected], 1 800 940-3617