Tutor.com Named One of New York's Fastest Growing Technology Companies for Second Consecutive Year in Deloitte's Technology Fast 50 Program
Ranked number 23 in region due to nearly 600% revenue growth
New York, NY (September 26, 2007) – Tutor.com, the leading provider of on demand tutoring and homework help services, has been named to Deloitte's prestigious Technology Fast 50 Program for the New York Region for the second consecutive year. The program is a ranking of the 50 fastest growing technology, media, telecommunications, and life sciences companies in the area by Deloitte & Touche USA LLP, one of the nation's leading professional services organizations. Rankings are based on the percentage revenue growth over five years from 2002?2006. Tutor.com's increase in revenues of nearly 600 percent ranks Tutor.com as the 23rd fastest growing technology company in the region. Tutor.com was ranked six in 2006 with revenue growth of nearly 4,000%.
"Rapid but strategic growth has been a key part of our business planning since I founded the company with a vision of connecting a student to a professional tutor the minute they get stuck," said George Cigale, founder and CEO of Tutor.com. "We're honored that our impressive growth is being recognized for a second year in a row. We expect 2008 to be equally as impressive as we expand our business to reach the millions of families who will benefit from on demand tutoring."
Tutor.com's growth plans are supported by an expansion round of $13.5 million in funding led by Intel Capital in the spring of 2007. Tutor.com is using the funding to build its network of over 1,800 professional tutors and to invest in unique partnerships and marketing campaigns including a recently announced relationship with the Richardson Independent School District (RISD) in Texas.
Nearly 15,000 RISD students in grades 7 through 12 will receive 300 minutes of on demand tutoring for free for the 2007-08 school year. Tutor.com is also offering all Dallas-area algebra students 200 free minutes of on demand tutoring. These programs are designed to help Texas algebra students excel in this required gateway course, now that Texas' high school graduation requirements include four years of math and science.
To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2002 and $5,000,000 in 2006, be headquartered in North America, and be a company that owns proprietary technology or proprietary intellectual property that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies' technology or intellectual property in a unique way does not qualify.
Companies from the 16 regional Technology Fast 50 programs in the United States and Canada are automatically entered in Deloitte's Technology Fast 500 program, which ranks North America's top 500 fastest growing technology, media, telecommunications and life sciences companies. For more information on Deloitte's Technology Fast 50 or Technology Fast 500 programs, visit Fast500.com.
Tutor.com creates innovative, on demand homework help and tutoring services that connect students to a professional tutor online the moment they need help in math, science, social studies or English. Our network of over 1,800 professional tutors has delivered over 2.5 million one-to-one tutoring sessions. Tutor.com services include Tutor.com Direct, an on demand tutoring service for families and Live Homework Help, an after-school program offered at over 1,600 public libraries. Tutor.com also powers two statewide, governor-supported initiatives, HomeworkKansas and HomeworkAlabama. Tutor.com was named to Deloitte's Technology Fast 50 Program for the New York Region in 2006, was honored as one of the 25 Best Small Companies for Women 2007 by Working Mother and ranked in the first-ever Inc. 5,000 list of the fastest growing private companies in America. For more information please visit Tutor.com or call (800) 411-1970.