Interaxon: On Deloitte’s 2019 Technology Fast 500™
Interaxon attributes its revenue growth to the successful launch of Muse 2 and the acquisition of Meditation Studio App.
Interaxon announced it was included in Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America, now in its 25th year.
Interaxon’s chief executive officer, Derek Luke, credits the successful launch of Muse® 2, the meditation headband, as well as the acquisition of the Meditation Studio App with the company’s rapid revenue growth.
He said, “In October 2018, we launched Muse® 2, a completely new product and experience in the world of meditation and neurotechnology. Muse® 2 is a personal meditation assistant that offers a whole new range of real-time feedback on a user’s meditation practice, including body movement, heartbeat, breath and mental activity.
Additionally, in July 2018, we acquired the Meditation Studio app, which is the most significant step that we have taken as a company to date.
This acquisition allowed us to expand on our direct-to-consumer SaaS offering and scale our SaaS revenue since it is an existing meditation app with existing subscribers, 700+ meditations, 60+ teachers and a team with previous SaaS and wellness experience.
By integrating the Meditation Studio app content with Muse® centric features, we’ve created a unique offering that leverages a deep library of Guided Meditations with biofeedback, which is Muse’s hallmark offering.
We are continuously working on bringing innovative products to our consumers and we will continue to deepen our commitment to providing users with tools that support a wider path of entry into a mindfulness practice, while offering an unparalleled level of deeper insights and personalization that hasn’t been seen in the meditation app space.”
“This year marks the 25th anniversary of Deloitte’s Technology Fast 500, so we are especially pleased to announce and congratulate the 2019 winners,” said Sandra Shirai, vice chairman, Deloitte LLP, and U.S. technology, media and telecommunications leader. “Once again, we saw innovation across the board, with software companies continuing their dominance of the top ten. It’s always inspiring to see how the Fast 500 companies are transforming business and the world we live and work in.”
“As technology innovation trends towards ‘everything as a service, it’s no surprise that software companies dominate the winners list yet again this year,” said Mohana Dissanayake, partner, Deloitte & Touche LLP, and industry leader for technology, media and telecommunications, within Deloitte’s audit and assurance practice.
“What’s exciting about celebrating 25 years of the Tech Fast 500 is we now have a quarter century of innovation stories to draw and reflect upon. These are the companies that push boundaries, help organizations become more efficient and productive, and ultimately enable businesses to drive growth and revenue. We congratulate all the well-deserving winners.”
About Deloitte’s 2019 Technology Fast 500™
Now in its 25th year, Deloitte’s Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences 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 2015 to 2018.
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 $US50,000, and current-year operating revenues of at least $US5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
About Interaxon
At Interaxon, we develop engaging experiences using brainwave-sensing technology designed to help you free yourself from physical, emotional and mental obstacles so you get more out of every moment. Our mission is to enable you to live a happier, healthier and more connected life with leading brainwave technologies and experiences. Our flagship product is the Muse® headband, a sensory headband that is designed to help you meditate by providing you real-time audio and visual feedback on your meditative state through the Muse® companion app. More information about Interaxon and the Muse® headband is available at www.choosemuse.com.
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the “Deloitte” name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.
