Chattanooga-based Freightwaves among list of fastest-growing US tech firms

Staff file photo / FreightWaves founder and CEO Craig Fuller speaks after being named a Spirit of Innovation award winner during the annual awards ceremony at The Signal on Wednesday, Oct. 23, 2019, in Chattanooga, Tenn.

Five years after Craig Fuller launched Freightwaves Inc., the Chattanooga-based logistics information, media and technology provider has been listed as one of the nation’s fastest-growing technology companies for the second consecutive year in the Deloitte Technology Fast 500 list released this week.

Freightwaves, which has grown its annual revenues nearly four-fold in the last three years and now has about 200 employees, is the only Chattanooga company and one of only five Tennessee companies on the Deloitte list for 2022, which includes the fastest-growing companies in the U.S. with proprietary intellectual property or technology.

‘This is really considered to be the who’s who list of growing companies in technology and we’re really honored to be on it,” said Fuller, who grew up in the trucking business at U.S. Xpress Enterprises prior to starting Freightwaves in 2017 and developing the company’s SaaS product, SONAR, for the logistics industry. ‘The demand for supply chain information is certainly driving a lot of growth as people realize that supply chains are quite vulnerable and having information is really important.”

Freightwaves, which grew to about $40 million in revenues, is looking to grow its business by 50% or more next year and Fuller hopes to expand the business to top $100 million in revenues by 2025.

Fastest growing tech firms

The Tennessee companies on the Deloitte Technology Fast 500, and the growth in revenues from 2018 to 2021 include:

85. Revance Therapeutics Inc., in Nashville, up 1,986%

271. LASSO in Nashville, up 544%

358. Freightwaves in Chattanooga, up 390%

394. TecnologyAdvice in Nashville, up 331%

485. ClarisHealth in Brentwood, up 248%

Source: 2022 Technology Fast 500 Rankings

— Compiled by Dave Flessner