MDalgorithms announced today that Deloitte Technology Fast 500™ recognized it as one of the 500 fastest-growing tech companies in North America. According to the report, the company is in the top 25 fastest-growing companies in the life sciences category, with revenue growth of 1178% from 2018 to 2021.
"There are three billion people worldwide who suffer from skin and hair problems. 90% of these people never see a dermatologist due to a lack of access to professional care or high treatment costs," said Oded Harth, the CEO and co-founder of MDalgorithms. "The skincare and haircare markets are currently dominated by one-size-fits-all products that customers purchase off the shelf or online. These products are frequently irritating or simply ineffective."
"MDalgorithms takes a fresh approach to medical-grade acne and hair loss treatment, making it accessible to millions who can't access in-office treatments." - Oded Harth, CEO and co-founder of MDalgorithms
MDalgorithms developed the world's first fully automated machine learning system for analyzing skin and scalp. With its proprietary database of over 5 million images, AI, and computer vision technology, it provides its customers with products customized to the severity and root cause of their condition.
People with these conditions take a photo of their skin or hair and, based on the analysis, get a personalized set of products. During the treatment, the company provides free unlimited medical chat support and continuously fine-tunes the product formulations as the skin/hair changes and improves.
"MDalgorithm's mission is to democratize Dermatology with AI and help everyone get customized, effective and affordable treatment," said Oded Harth. "Over the past few years, MDalgorithms has experienced substantial growth serving millions of people with skin and hair conditions; this growth is directly attributable to our continued investments in building our AI technology that allows us to provide a customized, comprehensive, and clinically effective kit of products personalized to the needs of each customer."
About the 2022 Deloitte Technology Fast 500™
Now in its 28th year, the Deloitte Technology Fast 500 ranks the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2018 to 2021. To be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology sold to customers in products that contribute to a majority of the company's operating revenues.
Millions have used MDacne.com and MDhair.co to analyze their acne and hair loss, and hundreds of thousands to treat it. MDalgorithms believes customized Ai-based treatment solutions will become the most common way to address skin conditions in the next decade. For more information, visit www.MDalgorithms.com.
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Original Source: MDalgorithms Recognized by Deloitte Technology Fast 500™ as One of the 500 Fastest-Growing Tech Companies in North America