Harrogate-based Chameleon Technology and Leeds-based BigChange have been named as winners in the Deloitte 2018 UK Technology Fast 50 awards.
The awards recognise and rank the 50 fastest-growing technology companies in the UK, based on the last four years of revenue data, and are sponsored by DLA Piper, Oracle NetSuite and Silicon Valley Bank.
This year’s cohort of winners represent companies at the forefront of the sector, with over 9,000 employees across the 50 companies, an inspiring average growth rate of 2,176% and total revenues in 2018 of c.£1.2bn.
The only Yorkshire based businesses to make the top 50, Chameleon Technology (37) provide UK and international energy retailers with smart in-home energy monitors, while BigChange (48) provides mobile workforce management technologies. It’s the second year running that BigChange has featured in the list.
Founded in 2010 by Gary Martin and Mike Woodhall, Chameleon Technology (UK) Ltd designs and manufactures in-home displays for the global smart meter market bringing real time information to the Connected Homes market. The business has grown by 713% in the last four years and has also been awarded the European Home Energy Monitor of the Year Award for the last three consecutive years.
Managing Director Mike Woodhall, said: “Appearing in the Deloitte Fastest 50 for the first time will bring valuable recognition of the team’s hard work and innovation. Chameleon’s transformation from in-home display manufacturer to leading energy tech company is due to focusing beyond in-home displays to how real time energy data from smart meters will help unlock the benefits of the digitisation of our energy system for consumers and businesses.”
Launched in 2013 and based in Leeds, BigChange’s mobile workforce management technologies are trusted by over 25,000 mobile workers and back office personnel at more than 800 organisations. It employs 90 people and achieved revenues of £6.6 million in 2017.
Martin Port, founder and CEO of BigChange, comments: “Advances in cloud computing and mobile technologies have allowed us to start a revolution in the way organisations of all sizes monitor and manage their mobile workforces.
“We are delighted this has been recognised with another Deloitte Fast 50 award. Organisations want their people to be more productive, and we help them achieve that by eliminating their paperwork and allowing them to focus on what they do best.”
Deliveroo secures top spot for a second year
Food courier service Deliveroo was the overall winner of the 2018 UK Technology Fast 50 awards for the second year. Following Deliveroo’s record growth rate achieved in 2017, this year the company boasted impressive results with an average growth rate of 15,749%. Checkout . com (15,548%) and Hostmaker (6,445%) ranked second and third place respectively.
Matt Hughes, partner for Deloitte in Yorkshire, said: “It’s a fantastic achievement for both companies to be recognised in the Deloitte Fast 50 as some of the fastest growing technology businesses in the UK. They have both performed phenomenally well in the last few years and demonstrate the benefits of embracing technology to drive innovation in their respective sectors.
“Hopefully their inclusion will act as a catalyst for more of our region’s technology pioneers to feature in future awards.”
Duncan Down, lead partner for the Deloitte UK Technology Fast 50 programme commented: “We are now in our third decade of celebrating the country’s fastest-growing technology companies through the UK Fast 50 awards, and the rate of growth continues to impress. The UK start-up scene is in excellent health, with strong access to talent and funding. What impresses me most is the rate of growth, with the time from establishment to ‘unicorn’ status continuing to reduce. I would like to personally congratulate all of the winners and entrants for this year’s awards.
“After a record breaking year last year, Deliveroo has continued to see strong growth and has managed to retain the top spot. This sends a particularly positive message to UK start-ups operating in uncertain times. Through innovative thinking, planning and access to the right talent, entrepreneurial companies like Deliveroo can disrupt the market and quickly find success.”
Diversity and inclusion in the Fast 50
Diversity and inclusion has become a priority across all sectors in recent years, and is now recognised as having clear and tangible links to performance and growth. The Fast 50 have shown commitment to diversity and inclusion, outperforming the wider sector in terms of their diversity ratios.
As part of the UK Technology Fast 50 programme, Deloitte carried out a survey of over 100 CEO’s at fast growing companies. Of these respondents, half confirmed that more than 40% of their employees identify as female – a significant change from 2015 – where only one third of companies had more than 40% of employees identify as female. These figures compare well to the wider technology sector, where it is estimated that women comprise less than 20% of all employees.
Duncan Down, commented: “These results show the nature of many of the Fast 50 entrants, who are ahead of the game in attracting the best talent and ensuring inclusivity.
“A company that takes a diverse and inclusive approach to hiring can access a larger pool of applicants, and these companies attract the best talent from all over the world, which is no doubt a key contributor to their success.”
A Capital performance
London continues to dominate the Fast 50 landscape, with 68 per cent of winners headquartered in the UK capital, including nine of this year’s top 10. This was followed by the South West and Wales region, which provided 10 per cent of this year’s Fast 50 winners, rising from six per cent since last year.
In line with the trend of the last two decades, software-led businesses were once again the most prevalent sector in the UK Technology Fast 50, making up 40 per cent of all winners, only slightly less than 2017’s 44 per cent. This was followed by Fintech, which made up 28 per cent of winners – notably, 14 of the 15 Fintech winners were headquartered in London – and Media & Entertainment (18 per cent), up eight per cent and two per cent respectively.
Duncan Down commented: “This year’s cohort of Fast 50 winners saw a diverse mix of technology companies from across the country. However, London remains firmly positioned as the UK’s tech capital, with very strong representation in Fintech and software particularly.”
