For the third straight year, The San Francisco Business Times has listed Cantaloupe Systems to its list of fastest-growing private companies in the Bay Area. Cantaloupe Systems qualified for inclusion on this year’s list by generating 373.2 percent year-on-year sales growth of its vending optimization technology. The company’s products and services include SEED remote monitoring and analytics, cashless sales systems and the Cantaloupe Retail Optimization Platform (CROP). Approximately 70,000 U.S. vending machines are now equipped with Cantaloupe Systems vending technology.
“Growth in the current business climate requires customers to see true value in a company’s offering,” said Mandeep Arora, co-founder and CEO of Cantaloupe Systems in a prepared statement. “The vending industry is fighting multiple challenges, and we’re grateful our customers have turned to Cantaloupe Systems to help them meet those challenges and grow their top and bottom lines by reducing costs and providing better merchandising service to their customers.”
The San Francisco Business Times ranks “fastest-growing” local companies on percentage revenue growth from 2008 to 2010. To qualify, companies provide revenue figures for the years 2008, 2009 and 2010, complete a brief online survey and submit financial documentation confirming the company’s net revenue. The San Francisco Business Times partners with PricewaterhouseCoopers to conduct the research and produce the lists. Winners were announced at an awards ceremony on Oct. 27, 2011.