SAN FRANCISCO, CA and CHICAGO, IL--(MARKET WIRE)--Nov 4, 2008 -- Canopy Financial, a pioneer in innovative healthcare banking technology solutions that connect healthcare and financial services, has been named a Rising Star in Deloitte's Technology Fast 50 program for Silicon Valley. The Rising Star award is a special designation for fast-growth companies that have been in business a minimum of three years, and is part of the Silicon Valley Technology Fast 50 program. Rising Star rankings are based on percentage revenue growth over three years (2005-2007). This year's Silicon Valley Technology Fast 50 program is co-presented by Deloitte, Silicon Valley Bank, Korn/Ferry International, Cooley Godward Kronish LLP, Cornish & Carey Client Solutions, and ABD Insurance and Financial Services - A Wells Fargo Company.

Canopy is the market leader in providing electronic payment, administration and account management technology for consumer-directed healthcare (CDH) related spending accounts. Since 2005, Canopy has realized triple digit revenue growth year-over-year. Today Canopy powers the CDH programs of many of the top 25 health plans and financial institutions, administering over one million CDH related spending accounts nationally.

"The Deloitte Silicon Valley Technology Fast 50 Rising Star companies have shown the strength, vision and tenacity to succeed despite a very challenging technology environment," said Mark Jensen, partner and national director, Venture Capital Services, Deloitte & Touche LLP. "We applaud the successes of Canopy Financial and acknowledge its place as one of the few to accomplish such a fast growth rate over the past three years."

"We are honored to be recognized by Deloitte for our strong performance," said Vik Kashyap, CEO of Canopy Financial. "The acceleration of the CDH market is evidence of the pain corporate America feels from the increasing cost of healthcare. Our innovative healthcare banking technology is enabling over a million consumers to take direct financial control and bring about greater efficiency in one of the most important aspects of their lives -- healthcare."

To qualify for the Technology Fast 50 Rising Star program, companies must be incorporated a minimum of three years and have revenues in only three or four years, have operating revenues of at least $50,000 in 2005 and $5,000,000 in 2007, be headquartered within the San Francisco Bay Area (subsidiaries or divisions are not eligible, unless they have some public ownership and are separately traded), and own proprietary technology or proprietary intellectual property that contributes to a significant portion of the company's operating revenues or devote a significant proportion of revenues to the research and development of technology. Using other companies' technology or intellectual property in a unique way does not qualify.

Rising Star companies are automatically entered in Deloitte's Technology Fast 500 Rising Star category. Its Rising Star ranking is based on percentage revenue growth over three years (2005-2007). For more information on Deloitte's Technology Fast 500 or Technology Fast 50 programs, visit www.fast500.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, 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 and Chicago. For more information, please visit www.canopyfi.com or call 1-866-960-4700.

About Deloitte

As used in this document, "Deloitte" means Deloitte LLP. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.

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