SOURCE: Canopy Financial

Canopy Financial

August 18, 2009 11:24 ET

Canopy Financial Debuts at #12 on the 2009 Inc. 500 List

According to Inc. Magazine's Annual Rankings, Canopy Financial Is Also the #1 Fastest Growing Privately Held Software Company in America

SAN FRANCISCO, CA--(Marketwire - August 18, 2009) - Canopy Financial, a pioneer in innovative healthcare banking technology solutions that connect healthcare and financial services, announced today that Inc. magazine ranked Canopy number 12 on the 2009 Inc. 500 -- the magazine's 28th annual list of the nation's fastest-growing private companies. The list represents the most comprehensive look at the most important segment of the economy -- America's independent-minded entrepreneurs. Companies such as Microsoft, Zappos, Intuit, GoDaddy, Under Armour, Jamba Juice, American Apparel, Oracle, and hundreds of other powerhouses gained early exposure as members of the Inc. 500. According to the recently released Inc. 500 rankings, Canopy is also the fastest growing, privately held software company in America.

"As a company at the forefront of health care reform and innovation, Canopy is thrilled to be ranked number twelve on Inc. Magazine's 28th Annual Inc. 500 list in our first year of eligibility, and to be recognized as the fastest growing, privately held software company in America," said Vik Kashyap, CEO of Canopy Financial.

"If you want to know which companies are going to change the world, look at the Inc. 500," said Inc. editor Jane Berentson. "These are the most dynamic, fast-growth companies in the nation, the ones finding innovative solutions to problems, creating smart systems, and inventing products we soon discover we can't live without. The Inc. 500 list is Inc. magazine's tribute to American business ingenuity and ambition."

Despite the ongoing recession, the 2009 Inc. 500 offers a glimpse into the future of the U.S. economy. The health sector alone realized aggregate revenue of $1.1 billion and a 917 percent median growth rate. Canopy's industry leading Consumer-Directed Healthcare (CDH) technology empowers millions of consumers to take greater control of their health care dollars, offering access to lower cost health care benefits, greater choice in the selection of health care providers, price transparency for routine medical services, and increased speed in which health care providers are paid.

About Inc. Magazine

Founded in 1979 and acquired in 2005 by Mansueto Ventures LLC, Inc. (www.inc.com) is the only major business magazine dedicated exclusively to owners and managers of growing private companies that delivers real solutions for today's innovative company builders. With a total paid circulation of 712,961, Inc. provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology. Visit us online at Inc.com.

About Canopy Financial

Canopy Financial provides innovative technology solutions that connect healthcare and financial services. Serving some of the world's largest healthcare and financial institutions, and managing millions of consumer-directed healthcare spending accounts, Canopy powers the development and delivery of complete healthcare banking services for both consumers and businesses. Founded in 2004, Canopy maintains offices in San Francisco, CA, Chicago, IL, and Plainsboro, NJ. For more information, please visit our web site at www.canopyfi.com or call 1-866-960-4700.

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