SciQuest Ranked 469th Fastest-Growing Company in North America on Deloitte's 2014 Technology Fast 500™

MORRISVILLE, N.C.--(BUSINESS WIRE)--

SciQuest, Inc. SQI, a leading provider of cloud-based business automation solutions for spend management, today announced it ranked No. 469 on Deloitte's Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences and clean technology companies in North America.

“The companies ranked on the 2014 Deloitte Technology Fast 500 continue to set the bar for their industry higher each year,” said Eric Openshaw, vice chairman, Deloitte LLP and U.S. technology, media and telecommunications leader. “There are so many exciting products and smart thought leaders driving this list. We congratulate the Fast 500 companies and look forward to seeing them continue their momentum into 2015.”

“We're thrilled to be included in Deloitte's Technology Fast 500, recognizing our significant growth in the past year,” said Stephen Wiehe, president and CEO, SciQuest. “Being named one of North America's fastest growing companies by Deloitte is validation both of the growing need for our spend management solutions and that our hard work on behalf of our customers has paid off.”

Overall, 2014 Technology Fast 500™ companies achieved revenue growth ranging from 135 percent to 123,678 percent from 2009 to 2013, with an average growth of 1,640 percent. The full list of Fast 500 companies can be found here.

About Deloitte's 2014 Technology Fast 500™

Technology Fast 500, conducted by Deloitte LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies – both public and private – in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2009 to 2013.

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 $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years and be headquartered within North America.

About SciQuest

SciQuest SQI is one of the leading pure-play providers of cloud-based business automation solutions for spend management – offering deep domain knowledge and a leading, customer-driven portfolio. SciQuest solutions enable greater visibility and compliance organization-wide to help you gain control, optimize efficiencies and reduce spend. These cloud-based solutions are easier to implement and proven to deliver measurable, sustainable value with SciQuest's high-touch support, analysis and automation. Learn more about our solutions and how we can help your organization turn spending into savings at www.sciquest.com.

To join the conversation, please visit our blog, The Open Kitchen at http://www.sciquest.com/blog or follow us on Twitter @SciQuest.

Cautionary Note Regarding Forward-Looking Statements

Any statements in this release that are not historical or current facts are forward-looking statements. All forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Certain of these risks are discussed in “Part I, Item 1A, Risk Factors” and elsewhere in SciQuest's most recent Annual Report on Form 10-K and other reports, as filed with the United States Securities and Exchange Commission (“SEC”). The company's SEC reports are available free of charge on the SEC's website at http://www.sec.gov or on the company's website at www.sciquest.com. These forward-looking statements speak only as of the date hereof, and SciQuest undertakes no obligation to update, amend or clarify any forward-looking statement for any reason. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results.