The Sunday Times has published a league table of Britain’s 100 fastest growing private tech companies. The league table is published annually and tracks the companies with the fastest growing sales over the latest three years. The Tech Track 100 is published in conjunction with Hiscox, a major provider of specialist insurance to homes and businesses that has been tracking the rise of the tech industry over the past 15 years. So, what does the latest edition reveal? Let’s take a look at this year’s findings.
E-commerce software trumps the list
The company sitting at the top of this year’s list is Ve Interactive, an organisation which has grown its sales, on average, 305% each year so far. The company’s specialist e-commerce software, designed to help retailers boost online sales, is backed by over 400 shareholders and sales reached £20.9m in 2014. Latest figures show that the company is worth around £1.25 billion, and you can see it featured in the latest infographic published by Hiscox.
All hail The Internet of Things
There has been a huge buzz around what we call “the internet of things” for some time now, but the 2015 results of the Tech Track 100 show that this is a trend which is no longer the next big thing. It has arrived. There are now several successful companies operating in this space, which can only be a good thing. So, what do we mean by the internet of things? Well, this strangely euphemistic term has come to describe increased machine-to-machine communication – devices embedded with sensors that generate data and talk to each other, increasing the amount of “smart” technology we use to streamline our daily lives. In 2015 we’ve seen new ways of gathering and leveraging data, a trend that is going to take technology even further in 2016.
More women in tech
One of the best things that tracking such as the Hiscox league table does is record subtle changes in direction over time. One such subtle shift that has emerged in 2015 has been the shift towards more women in tech industry positions. Whilst the numbers are still relatively low, they are changing, and this could well be a sign of things to come. Hiscox found that 10% of the companies on this year’s Tech Track 100 are either run, co-founded or more than 20% owned by women. To take some examples from the league table, social media agency Emoderation is headed up by chief executive and founder Tamara Littleton, the IT consultancy Ideal Networks is headed up by managing director Claire Hopkins and another prominent company on this year’s list, GBM Digital, is co-founded by director Michelle Atkinson. If these fresh thinkers in the industry are the marker of things to come, then tech is headed in the right direction.
Software development on the rise
Finally, one of the most important takeaways from this year’s league table is the proliferation of software development companies. Whilst this is no surprise, we can take comfort in the continuing popularity of this area – more software development ultimately translates to more innovation in the industry, demonstrating the immense growth in the tech sector as a whole.
So, what do you hope to see happening in the tech industry for 2016? Leave a comment below.