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Algolia Honored in Inc. Magazine’s Annual List of America’s Fastest-Growing Private Companies—the Inc. 5000

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For the Second Consecutive Year, Algolia Appears on the Inc. 5000, Ranking No. 448

SAN FRANCISCO, Aug. 14, 2019 (GLOBE NEWSWIRE) — Algolia, the leading Search and Discovery solution, today announced it has been honored on the annual Inc. 5000 list, the most prestigious ranking of the nation’s fastest-growing private companies, for the second year in a row.

“We are thrilled to be named to the Inc. 5000 for the second year in a row,” said Nicolas Dessiagne, co-founder and CEO of Algolia. “A large part of Algolia’s growth can be attributed to the evolving needs of consumers as they seek ‘Now Moments:’ instant, frictionless digital experiences that deliver the exact information or products they are looking for. Algolia’s search-as-a service platform helps customers achieve this, and we look forward to ongoing growth and momentum as we continue on our mission to allow any company to deliver an amazing search and discovery experience across any device, anywhere.”

Not only have the companies on the 2019 Inc. 5000 been very competitive within their markets, but the list as a whole also shows staggering growth compared with prior lists. The 2019 Inc. 5000 achieved an astounding three-year average growth of 454 percent and a median rate of 157 percent. The Inc. 5000’s aggregate revenue was $237.7 billion in 2018, accounting for 1,216,308 jobs over the past three years.

“The companies on this year’s Inc. 5000 have followed so many different paths to success,” said James Ledbetter, Inc. editor in chief. “There’s no single course you can follow or investment you can take that will guarantee this kind of spectacular growth. But what they have in common is persistence and seizing opportunities.”

Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/inc5000. To learn more about the significance of Algolia’s placement on the Inc. 5000, read the company’s blog on today’s news.

The annual Inc. 5000 event honoring the companies on the list will be held Oct. 10-12, 2019, at the JW Marriott Desert Ridge Resort and Spa in Phoenix, Ariz.

Methodology
The 2019 Inc. 5000 is ranked according to percentage revenue growth when comparing 2015 and 2018. To qualify, companies must have been founded and generating revenue by March 31, 2015. They had to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of Dec. 31, 2018. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2015 is $100,000; the minimum for 2018 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Companies on the Inc. 500 are featured in Inc.’s September issue.

Helpful Links

About Algolia
Our mission is to allow any company, large or small, to deliver an amazing search and discovery experience. Algolia helps the most innovative companies across all industries create powerful, relevant and scalable discovery experiences for their users. Unlike other solutions, Algolia’s search-as-a-service platform reduces the complexities of building and scaling a fast, tailored and personalized digital experience and helps teams accelerate development time. More than 7,500 companies including Twitch, Quicksilver, Discovery Communications, Medium, WeWork, Zendesk and Stripe rely on Algolia to manage 60 billion search queries a month. Algolia is headquartered in San Francisco with offices in Paris, London, Tokyo, New York and Atlanta. To learn more, visit www.algolia.com.

About Inc. Media
Founded in 1979 and acquired in 2005 by Mansueto Ventures, Inc. is the only major brand dedicated exclusively to owners and managers of growing private companies, with the aim to deliver real solutions for today’s innovative company builders. Inc. took home the National Magazine Award for General Excellence in both 2014 and 2012. The total monthly audience reach for the brand has been growing significantly, from 2,000,000 in 2010 to more than 20,000,000 today. For more information, visit www.inc.com

The Inc. 5000 is a list of the fastest-growing private companies in the nation. Started in 1982, this prestigious list has become the hallmark of entrepreneurial success. The Inc. 5000 Conference & Awards Ceremony is an annual event that celebrates the remarkable achievements of these companies. The event also offers informative workshops, celebrated keynote speakers, and evening functions.

For more information on Inc. and the Inc. 5000 Conference, visit http://conference.inc.com.

Contact
Shannon Campbell
Offleash for Algolia
algolia@offleashpr.com

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

IT

vSync Circuits Adds Verific’s Static Elaborator to Product Mix

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ALAMEDA, Calif., Dec. 03, 2019 (GLOBE NEWSWIRE) — Verific Design Automation today announced long-time customer vSync Circuits added Verific’s static elaboration to its product mix and introduced vLinter, early rule-based design analysis and verification software.

“Our relationship with Verific is one of great mutual admiration,” remarks Dr. Reuven Dobkin, chief executive officer and chief technology officer of vSync. “We respect Verific and value it as a trusted vendor with incomparable support and service.”

vLinter, static analysis-based verification used in early design stages, hunts design bugs due to bad coding practices, including unsynthesizable code, unintentional latches, undriven signals, race conditions, out-of-range indexing, incomplete case statements and simulation and synthesis mismatches. It supports both ASIC and FPGA design flows and allows easy and fast setup by directly loading project files from leading synthesis software.

“VSync takes a clever approach to functional verification using structural and formal verification, RTL and gate-level verification, automatic timing constraints generation and automatic bug fixing,” remarks Michiel Ligthart, Verific’s president and chief operating officer. “The result is a powerful methodology that works in either FPGA or ASIC verification and integration flows with Verific’s parser platforms serving as the front end.”

Verific’s SystemVerilog, VHDL and universal power format (UPF) Parser Platforms are in production and development flows at semiconductor companies worldwide, from emerging companies to established Fortune 500 vendors. Applications range from analysis, simulation, formal verification and synthesis to emulation and virtual prototyping, in-circuit debug and design for test. Verific distributes its Parser Platforms as C++ source code and compiles on all 32- and 64-bit Unix, Linux, Mac OS and Windows operating systems.

About vSync Circuits
vSync Circuits is an EDA and IP solutions company providing integration and verification solutions for ASIC and FPGA design and verification groups. It introduces a novel and unique technology for reliable multiple clock-domain design integration and verification comprised of a tool-based approach that bridges the design and verification worlds. vSync Circuits methodology is generic and is compatible with all different design flows.

About Verific Design Automation
Verific Design Automation is celebrating 20 years as the leading provider of SystemVerilog, Verilog, VHDL and UPF Parser Platforms that enable project groups to develop advanced electronic design automation (EDA) products quickly and cost effective worldwide. Verific, with offices in Alameda, Calif., and Kolkata, India, has shipped more than 60,000 copies of its software used worldwide by the EDA and semiconductor industry. Corporate headquarters is located at: 1516 Oak Street, Suite 115, Alameda, Calif. 94501. Telephone: (510) 522-1555.

Engage with Verific at:
Email: info@verific.com
Website: www.verific.com
LinkedIn: https://www.linkedin.com/company/verific-design-automation-inc/
Facebook: https://www.facebook.com/Verific-Design-Automation-100448363329771/

Verific Design Automation acknowledges trademarks or registered trademarks of other organizations for their respective products and services.

For more information, contact:
Nanette Collins
Public Relations for Verific
(617) 437-1822
nanette@nvc.com

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Rackspace Expands Professional and Managed Services to Accelerate Customer Cloud Adoption with Amazon Web Services

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SAN ANTONIO and LAS VEGAS, Dec. 03, 2019 (GLOBE NEWSWIRE) — Announced today from AWS re:Invent 2019, Rackspace accelerates its growth as a full stack service provider by expanding its portfolio of Rackspace Service Blocks™. This news expands Rackspace’s leadership in providing professional and managed services for Amazon Web Services (AWS).

With the expansion of the Service Blocks portfolio, Rackspace further empowers customers to keep pace with innovation and capitalize on new services and features like Artificial Intelligence (AI), Machine Learning (ML), Internet of Things (IoT), and Serverless Computing.

“Our customers need deep AWS expertise that helps them develop, deploy, and integrate the latest applications, improve and secure their infrastructure, and ultimately make the most of what AWS has to offer so that they can move their businesses forward,” said Matt Stoyka, Chief Relationship Officer, Rackspace. “Our enhancement of Rackspace Service Blocks bridges the skills gap faced by customers who are quickly maturing on AWS.”

“For 15 years, we’ve trusted Rackspace to hear and understand our challenges, diagnose our problems, and quickly develop solutions that fit our evolving needs as a company,” said Bill Dalton, Vice President of Firefly Digital. “Today, bringing their expertise to manage our entire container services journey, Rackspace ensures we’re getting the most from AWS so we can focus on innovating and staying competitive.” 

Enhanced Portfolio for AWS Services: Rackspace Introduces Three New Rackspace Service Block Patterns

Rackspace Service Blocks is the modular cloud services portfolio comprised of discrete, customizable services provided on a flexible consumption model, which allows customers to only pay for the cloud services they need, optimizing IT economics. 

Today’s newly introduced Rackspace Service Block patterns are designed to streamline the adoption of AWS by consolidating broad expertise across infrastructure, applications, data, strategy and integration. This expertise is distilled into solution roadmaps designed to help customers deploy three key types of solutions:

  • Container Services Journey – A combination of Professional Services, Managed Cloud and Advanced Kubernetes Management Service Blocks, this offering helps customers outline their container strategy, build containerized applications and transition them into ongoing management.
  • Hybrid Transformation with VMware Cloud on AWS – A grouping of managed and professional services designed to provide customers with the tools and expertise needed to make a smooth transition to hybrid cloud with VMware Cloud on AWS.
  • Data Modernization – This configuration helps customers streamline analytics processes, uncover deficiencies within processes and derive meaning from data to enable better data-driven business decisions and serve their customers with accurate and timely data.

Learn more about Rackspace Service Blocks at rackspace.com/lp/new-aws-service-blocks. 

Visit Rackspace at Booth #1637 in the Venetian at AWS re:Invent 2019.

About Rackspace
At Rackspace, we accelerate the value of the cloud during every phase of digital transformation. Across applications, data, security, hybrid and multiple clouds worldwide, we provide cloud specialists with unbiased expertise, continuous modernization and Rackspace Service Blocks. We work with leading partners and alliances. As a recognized Gartner Magic Quadrant leader, we deliver Fanatical Experience™ across every interaction. Rackspace has been honored by Fortune, Forbes, Glassdoor and others as one of the best places to work.

Media Contact
Mikala Ferguson
mikala.ferguson@rackspace.com
210-550-6452

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New Research Finds Latest Accounting Regulations Are Significantly Driving Up Audit Costs

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LOS ANGELES, Dec. 03, 2019 (GLOBE NEWSWIRE) — FloQast, a provider of close management software created by accountants for accountants to close the books faster and more accurately, today announced the results of a just released survey entitled “The Ugliness of the Audit.” The study, based on feedback from more than 200 financial audit stakeholders, clearly demonstrates that audits are becoming significantly more costly and burdensome for companies of all sizes and the situation is not expected to improve in the next two years. It is important to note that these cost increases are driven primarily by changing accounting rules and regulations such as ASC 606.

“The audit is an essential part of the accounting process, but it is abundantly clear that the process has become overly taxing and expensive for companies of all sizes,” said Diane Hagglund, senior research analyst at Dimensional Research. “As audits become increasingly painful and burdensome, it is driving demand for innovative software solutions that help mitigate this pain by delivering a level of sanity into the process.”

Key findings in the report include:

  • Audit costs are rapidly growing – Audits are becoming increasingly expensive for organizations of all sizes, with over half of finance teams (53%) reporting substantial increases in audit costs in the past two years, driven primarily (64%) by new accounting regulations. The vast majority (81%) of companies that have adopted ASC 606 in their audit procedures report that it has negatively impacted their audit, increasing the cost and time to complete it and adding additional stress and frustration to the process. Ninety percent (90%) expect audit costs to further increase in the next two years and more than half (55%) of large companies (over 1,000 employees) have annual audit fees of more than $250,000.
  • Audits are lengthy and disruptive for finance teams The audit process places a big strain on finance and accounting departments with ninety-five percent (95%) stating they face challenges with their audits, including conflicts with other work (82%), the complexity of accounting rules (58%), and dealing with the stressful time that has a personal impact on their staff (50%). Most telling, 66% say that CFOs and controllers live with persistent fear that they may have missed something in their financials that will come under the scrutiny of the auditors.
  • Financial software improves the audit process – Close management software is providing improvements to the audit process for 91% of the finance teams that use it, and they are less likely to expect significant increases in the cost of their audit in the future. Eighty-nine percent (89%) of those surveyed indicated they would benefit from additional software capabilities, commonly found in close management, during their audit.

“This survey validates what we hear from our customers every day – the audit has become a black hole that sucks the money, time and morale from accounting teams every year,” said Mike Whitmire, CPA*, co-founder and CEO of FloQast. “FloQast’s goal is to provide controllers and CFOs with the financial software and tools that drive more efficient audits meaning less billable hours by auditors and a quicker return to focusing on what really matters, and that’s running the business.”

A complimentary copy of the report is available at www.floqast.com/auditsurvey.

Join Dimensional Research and FloQast for a live webinar on “The Ugliness of the Audit – and How to Avoid It” on December 11 at 11:00 am PT/2:00 pm ET during which they will walk through the survey results and share best practices for how to improve audit readiness. Register at www.floqast.com/auditsurveywebinar.

To learn about FloQast close management software and how it will help your accounting team to streamline your annual audit, visit www.floqast.com/audit.

Survey Methodology
The survey was conducted by Dimensional Research, on behalf of FloQast, in November 2019. A total of 203 accounting and finance professionals participated in the survey, all of whom were directly responsible for activities and outcomes of year-end financial audits. The purpose of the survey was to gauge finance and accounting professionals’ opinions of and experiences with the annual audit process, particularly in the light of the adoption of new accounting regulations such as ASC 606 and 842.

About Dimensional Research
Dimensional Research® provides practical market research to help technology companies make their customers more successful. Our researchers are experts in the way technology organizations operate to meet the needs of their business stakeholders. We partner with our clients to deliver actionable information that reduces risks, increases customer satisfaction, and improves business results. For more information, visit dimensionalresearch.com.

About FloQast
FloQast is close management software, created by accountants for accountants to close faster and more accurately. On average, accounting teams who rely on FloQast close three days faster. Seamlessly integrated with ERPs and leveraging existing checklists and Excel, FloQast provides a single place to manage the month-end close and gives everyone visibility. The cloud-based software is trusted by more than 750 accounting departments, including those at Lyft, Twilio, Zoom and The Golden State Warriors. To learn more, visit www.floqast.com and join the conversation on Twitter at @floqast.

*inactive

Rebecca Mettler
BOCA Communications for FloQast
floqast@bocacommunications.com
914-215-0113

 

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