Region’s fastest-growing tech firms stake place in elite list
Four West Midlands companies have been named in the latest list of the country’s fastest growing private technology, media and telecoms firms.
Published this weekend, the 19th annual Sunday Times Hiscox Tech Track 100 league table ranks Britain’s private technology, media and telecoms (TMT) companies with the fastest-growing sales.
Featuring for the first time in the Sunday Times Hiscox Tech Track 100 league table is Telford’s Rebound Returns, which provides software that handles returns and logistics for retailers.
With more than 500 customers worldwide – including ASOS and Gymshark – its platform plugs into retailers’ websites, enabling consumers to easily send back unwanted items. Sales hit £16.7m in 2018.
Also featuring is Stourbeidge-based software developer cloudThing, which delivers IT transformation projects for the British Red Cross and the Metropolitan Police.
Annual sales over three years have grown 56%, with sales hitting £6.1m in 2018.
Workforce management software company Biosite Systems, based in Solihull is ranked 94, with sales reaching £9.8m last year. The business, which employs 165 staff, has its technology used by 1,000 construction sites including Hinkley Point C nuclear power station.
Meanwhile, school payment services provider Parentpay, which was bought by Dutch rival WIS in 2018 gaining access to 85% of the secondary school market in the Netherlans ranks 98 with sales of £30.4m.
The companies appear with businesses from around Britain, including digital banking services provider Revolut, cybersecurity developer Darktrace, and currency transfer provider TransferWise.
Past stars range from travel search engine Skyscanner, which was bought by Ctrip, China’s largest travel company, for £1.4bn in 2016, to online supermarket and tech company Ocado, now floated at a market cap of £8.6bn.
The Tech Track 100 is sponsored by Hiscox, Barclays, BDO, BGF and N+1 Singer, and compiled by Fast Track, the Oxford-based research and networking events firm.
Bob Thaker, chief executive of Hiscox UK, said: “Tech companies have once again proved their mettle as they continue to power up growth and innovation. Hats off to all the companies that have made it onto this year’s Tech Track 100.”
