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This year’s Supergrowers list showcases 60 of the fastest-growing large public companies across six industries and headquartered in North America and Europe. While each company’s growth story is unique, they share key trends that offer valuable lessons for any business aiming for practical and sustainable growth. Explore the full list and dive into our research here:
NVIDIA’s meteoric rise, fueled by two related tech trends – AI and data center growth – puts it atop our Tech Supergrowers list in 2025. Demand for the company’s graphics processing unit (GPU) chips continues to surge, lifting NVIDIA from seventh position last year. AI is not the only tide lifting tech industry growth. A second is the need for better cybersecurity protections, as exhibited by the addition of two cybersecurity solution providers – Crowdstrike and Cloudflare – to the 2025 list. Continued growth in cloud computing rounds out the list of contributing tech trends.
Seven out of ten supergrowers are making a return to the list in 2025, supported by solid business models and steady demand for their products and services. The drop in 2-year CAGRs for all returning companies other than NVIDIA sounds a cautionary note. Still, the trajectory for the tech industry is driven by continuous innovation of products and business models.
Indeed, our supergrowers spend big on innovation; on average, they shelled out 31% of their revenue on R&D, compared to 14% by industry peers. Supergrowers innovate fast, too: For example, Snowflake’s releases – typically weekly – may include new features, feature enhancements, or fixes, delivered in the background without any downtime or service disruptions. When it comes to business model innovation, Gitlab is a prime example; in just a few years, the company has evolved from a repository and issue tracking focus to become a leading software development platform that provides DevOps tools for the entire software development lifecycle. Github’s innovative approach to R&D pairs input from its own R&D team members with community contributions via its open core business model, creating a virtuous cycle where more contributions lead to more features, leading to more users, leading back to more contributions.
Spending doesn’t stop with R&D – supergrowers are investing at higher rates than their competitors in go-to-market spending to exploit the shift in market conditions and customer needs. Over the last twelve months, the top ten (excluding NVIDIA) spent 43% of their revenue on sales and marketing compared to 15% by tech industry peers.
NVIDIA leaps from number seven to number one in 2025
Name any growing tech category, and chances are you’ll find NVIDIA’s chips powering the gear. Not only are the company’s processors central to AI tools, but NVIDIA is staying ahead of the competition by shifting its market focus. As AI gains steady adoption, the need to improve and deploy the underlying models responding to customer queries (inference) is overtaking the computing-intensive work of training AI models. NVIDIA has managed to stay ahead of the competition in AI by adapting to this market shift – its latest AI chip, Blackwell, is claimed to have larger performance gains in inference compared to training. Growth in AI-powered data centers by Big Tech companies - Microsoft, Google, and Meta are projected to spend up to $215 billion in the current fiscal year – is sustaining extraordinary sales expectations for the company’s data division. And if these factors are not enough to keep NVIDIA at or near the top of the heap, its prowess in building an AI software ecosystem that includes more than 300 code libraries and 600 AI models is another way the company is distancing itself from its competitors.
SentinelOne drops from number one to number two
Despite losing the top spot to juggernaut NVIDIA, SentinelOne has sustained growth with an average annual growth rate of 46% over the last 24 months, also propelled by AI tailwinds and its success in providing endpoint security, cloud security, and threat intelligence. The rollout of Purple AI in 2024 – the company’s generative AI tool for security analysts – automates threat hunting and investigation, reducing response times. The company’s customers can easily activate additional modules to enhance platform capabilities, driving growth across cloud and data modules. The platform also supports in-product promotions and trials, a key driver of SentinelOne’s land-and-expand strategy, which resulted in a dollar-based net retention rate of 110% in 2024. Savvy partnerships are another growth strategy, as shown by its multi-year deal with Lenovo to include the company’s cybersecurity platform and GenAI capabilities in Lenovo’s PCs.
Zscaler vaults from number nine to number five
The security theme continues with Zscaler – a cloud security company – showing sustained growth driven by customer retention and a strong go-to-market engine. The company’s Zero Trust Portfolio offers an alternative to traditional firewall architectures, which is resonating with new customers, including Nokia, who will migrate from its traditional firewall-based provider to Zscaler Zero Trust Exchange. Zscaler has had significant success retaining and upselling existing customers, as reflected in its 114% dollar-based NRR reported in its Q1 2025 results. The company’s account-centric selling approach drives high close rates and strong customer engagement, leading to its reported 25% increase in the annual recurring revenue from its major accounts.
Snowflake falls to number 8 from number 5 in 2024
Snowflake has clouds to thank for its success (and company name) since cloud technology is the basis for the company’s platform for data storage, processing, and analytics that allows users to consolidate data, enabling seamless sharing and collaboration. Despite experiencing a major data breach that impacted over 100 of its customers in May 2024, the company weathered the storm by responding swiftly and transparently. Snowflake’s proactive support helped the company maintain customer trust during the crisis.
Snowflake continues to benefit from strong network effects as a growth driver of its data cloud business. The more customers adopt its platform, the more data that can be exchanged among other Snowflake customers, partners, data providers, and data consumers, enhancing the value of Snowflake’s platform for all users. Additionally, the company’s effective commercial engine brings in new customers and maintains a strong focus on retention and expansion.
