Vancouver, Canada – Tribe Property Technologies Inc. (TSXV: TRBE and OTCQB: TRPTF) (“Tribe” or the “Company”) is pleased to announce its recognition for its rapid revenue growth as part of the 2022 Deloitte Technology Fast 50™ and Fast 500™ awards programs.
Celebrating its 25th anniversary, the Deloitte Technology Fast 50™ program recognizes Canada’s 50 fastest-growing technology companies based on the highest revenue-growth percentage over the past four years. In Canada, Tribe ranked 44th, with a 502 per cent revenue growth from 2018 to 2021. With this impressive revenue growth, Tribe also ranked on the Deloitte North America Technology Fast 500™, joining a list of top-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America.
Tribe CEO Joseph Nakhla credits the Company’s dedication to simplifying multi-family community living by providing the most comprehensive suite of products and services for building and managing residential communities as the major drivers of the notable revenue growth.
“Tribe’s ability to support all of the stakeholders within the multi-family living space including real estate developers, owners, tenants, Boards, investors and service providers – through the digitization of a building and its surrounding community is at the heart of our success to date. Our tech-backed service platform provides for a seamless transition throughout the life-cycle of a managed residential community, from pre- and post-construction to occupancy, management, maintenance and beyond,” said Nakhla. “This recognition is a true testament to the dedication and expertise of our team from product and engineering to management services, accounting, administration and customer support. Considering Tribe experienced that growth during a pandemic speaks volume of the team and the resiliency of the business.”
“It’s inspiring how this year’s exceptional cohort of the 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.”
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.
About the Deloitte Technology Fast 50™ program
The Deloitte Technology Fast 50 program is Canada’s pre-eminent technology awards program. Celebrating its 25th anniversary, the program recognizes business growth, innovation, and entrepreneurship in four distinct categories: Technology Fast 50 ranking, Enterprise Fast 15, 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 2022 program sponsors include Deloitte, RBCx, Osler, EDC, CBRE, Vector Institute, Council of Canadian Innovators (CCI), Clarity Recruitment, Lafond, and TMX. For further information, visit www.fast50.ca.
To qualify for the Deloitte Technology Fast 50 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 research, and development activities in Canada and invest a minimum of five percent of gross revenues in R&D. 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.
About the 2022 Deloitte Technology Fast 500™
Now in its 28th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2018 to 2021.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
About Tribe Property Technologies
Tribe is a property technology company that is disrupting the traditional property management industry. As a rapidly growing tech-forward property management company, Tribe’s integrated service-technology delivery model serves the needs of a much wider variety of stakeholders than traditional service providers.
Tribe seeks to acquire highly accretive targets in the fragmented North American property management industry and transform these businesses through streamlining and digitization of operations. Tribe’s platform decreases customer acquisition costs, increases retention and allows for the addition of value-added products and services through the platform. Visit tribetech.com for more information.
ON BEHALF OF THE BOARD
“Joseph Nakhla”
Chief Executive Officer
Tribe Property Technologies Inc.
Joseph Nakhla
Chief Executive Officer
1155 West Pender Street, Suite 419
Vancouver, British Columbia
V63 2P4
1-604-343-2601
For further information, contact:
| Corporate + Media Jennifer Laidlaw VP Communications and Marketing jennifer.laidlaw@tribemgmt.com 1-604-398-4161 x703 | Investor Relations Shobana Williams VP Investor Relations Shobana.williams@tribetech.com 1-604-398-4161 x725 |
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Cautionary Statement on Forward-Looking Information
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws regarding the Company and its business. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. Forward-looking statements or information in this news relate may relate to statements with respect to; the aims and goals of the Company; financial projections; growth plans including future prospective consolidation in the rental management sector; future acquisitions by the Company;; prospective benefits of the Company’s platform; and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward- looking statements. The Company does not intend, and do not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.