Leading the way Three city tech firms ranked among the fastest growing in the country
THREE Bristol firms have been named among 50 of the fastest-growing tech businesses in the country.
Sensor specialist Sintela, which also has offices in Dorset, was in 12th place.
Developer marketplace platform Deazy ranked 13th on the list, while Loqbox, a fintech, was placed 45th.
The South West was also represented on the national list by Bournemouth-based e-commerce firm OnBuy, which was the highest-placed business from the region – in 11th, after a 3,402% rise in revenue over the last four years.
The online marketplace stocks more than 40 million products from 17,000 retailers.
London mobile games developer Tripledot Studios finished top after recording 69,387% revenue growth.
According to accounts filed on Companies House last month, the company raked in $111,350 (£94,300) for the six months to December 2021 – up by almost a fifth on the $94,500 (£80,000) it took during the full financial year prior.
Deloitte’s Fast 50 recorded an average three-year growth rate of more than 4,500%, which programme partner Duncan Down said was a marker of the “ongoing strength and resilience” of the UK tech sector, despite “considerable headwinds”.
Deloitte said the 50 firms generated more than £990 million in total annual revenues in the year 2021-2022 and employed more than 16,300 people.
The list has previously charted the rise of travel search engine Skyscanner, food delivery apps Just Eat and Deliveroo, as well as fintech Revolut.
Here is a closer look at the three Bristol firms that made the list:
» Sintela
Rank: 12th; revenue growth over last four years: 2,829%
With offices in Bristol, Dorchester and the US, Sintela is a global developer of fibre sensor technology used in national infrastructure, including critical borders, oil wells, pipelines, electricity, rail, road and telecoms projects.
Founded in 2017, the firm has been contracted to deliver over 55,900km of asset monitoring solutions over the past three years.
Chief executive Magnus McEwen-King said: “Being ranked 12th in the 2022 Deloitte Technology Fast 50 is a credit to the team at Sintela who have not only designed and built a world leading distributed fibre sensor platform but have consistently met customer performance and scale requirements.
“We are proud to be contributing to the safety and operational improvement of critical national infrastructure alongside our network of leading industry partners.”
» Deazy
Rank: 13th; revenue growth over last four years: 2,615%
Recently selected by industry experts Tech Nation as one of 15 South West firms tipped to scale and strengthen the national industry, Deazy has built a global register of software developers who it then matches with businesses, based on their requirements.
The business announced at the start of this year it had raised £5m in a Series A funding round.
In a post on LinkedIn, the company said it was an “honour” to reach the top 15 of a list of “so many ambitious, flourishing businesses”.
» Loqbox
Rank: 45th; revenue growth over last four years: 875%
Co-founded by Gregor Mowat, a former partner at financial services giant KPMG based in Russia and Kazakhstan, the business provides platforms designed to help users improve their credit rating while continuing to save money. The company reports credit repayments to major credit reference agencies
Mr Mowat, who is the company’s co-chief executive alongside Tom Eyre, said: “The growth we have seen over the last four years shows there is a real need and appetite for Loqbox especially during times like now, when financial wellbeing is more important than ever. We are very proud of our team and we are very excited about the future of Loqbox; there’s a lot more to come”.
We are proud to be contributing to the safety and operational improvement of critical national infrastructure
Magnus McEwen-King, Sintela