Seven of the Ann Arbor area’s fastest growing companies received FastTrack awards from economic development group Ann Arbor SPARK.

The annual awards highlight local companies that have demonstrated consistent revenue growth over a period of at least three years.

The winners had to have annual sales of at least $100,000 starting in 2007 with average annual growth of at least 20 percent for the next three years. Also, companies must have achieved higher revenues in 2010 than in 2009.

The rapidly growing companies will be honored tonight at AnnArbor.com Business Review’s 2011 Deals of the Year ceremony at Eastern Michigan University’s Student Center. Business Review tonight will also reveal and distribute its own annual awards to seven industry leading companies as well as the Company of the Year and the Executive of the Year.

“The 2011 FastTrack winners represent how a commitment to excellence and perseverance can grow a business in the toughest economic times,” SPARK CEO Paul Krutko said in a statement. “These companies are to be commended for their commitment to innovation and their commitment to growing here in the Ann Arbor region. The companies that we recognize as FastTrack winners are driving industries that fuel the growth of our economy.”

Ann Arbor-based customer satisfaction measurement firm ForeSee, which recently shortened its name from ForeSee Results, won the FastTrack award for the fifth consecutive year.

The company, which celebrated its 10th anniversary in September and hired its 200th employee this year, has increased its revenue every quarter since it launched, CEO Larry Freed said.

LLamasoft, led by CEO Donald Hicks (left) and executive vice president Toby Brzoznowski, doubled its workforce to 50 in 2010 and has continued to add employees.

File photo | AnnArbor.com

LLamasoft, which is based at the First National building in downtown Ann Arbor, earned the award for the fourth consecutive year, reflecting sustained interest in the company's supply chain management software.

Ann Arbor-based software and web development firm SRT Solutions also won the FastTrack award for the fourth consecutive year.

Dexter-based University of Michigan health care software startup MedHub Inc. and Pittsfield Township-based computer-aided engineering firm Caelynx earned the FastTrack award for the third straight year.

Pittsfield Township-based surveillance system developer Pixel Velocity and Pittsfield Township-based Power Marketing and Research earned the FastTrack award for the first year.

(Editor’s note: AnnArbor.com Executive Vice President Laurel Champion is a member of SPARK’s Executive Committee.)

Contact AnnArbor.com's Nathan Bomey at (734) 623-2587 or nathanbomey@annarbor.com. You can also follow him on Twitter or subscribe to AnnArbor.com's newsletters.