Tech start-up achieves record growth in its third year
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A Yorkshire tech start-up has achieved triple digit growth for three years in a row, with turnover up by 164% in its third year of trading.
Principle Networks, founded in Leeds, creates network solutions to enable companies to operate seamlessly from multiple sites and remote locations.
Its 2020-2021 financial year saw the company achieve a turnover of £2.35m, whilst adding a further seven employees to its growing team and winning major contracts in the financial services, legal and manufacturing sectors.
Demand for its services has accelerated over the past 12 months, as businesses transformed working practices to remain operational during the pandemic.
Principle Networks’ team now consists of 13 employees, with further recruitment on the horizon.
Russell Crowley, who founded the company with Alex Steer in June 2018, said: “We knew the technology landscape was evolving rapidly, we knew there was a need for change, and we hoped we could lead the way.
“However, we never anticipated a pandemic and that the demand for our flexible networking solutions would surge in the way it has done.
“We’ve been incredibly fortunate to be able to continue our work, enabling our customers to embrace the change to a more dynamic working environment.
“We have huge ambitions for what can be achieved in this industry. We’re willing and able to innovate. Financially, we’re in a strong position to invest and further enhance the services we provide to our customers, and we truly believe in what we’re doing.”
Steer added: “The way businesses are operating today is presenting a big challenge for legacy network providers.
“Workforces tend to be mobile, working from anywhere at any given time. Businesses want to host their systems and applications in a multitude of locations. For the most part, this doesn’t suit the rigid, static nature of traditional branch office networks.
“We take a holistic approach, with solutions that provide a consistent experience and security posture for workers and business applications, wherever they happen to be located.
“We’ve gone as far as investing in this technology for our own business, with all of our employees working remotely, so we know it works well.
“Our strategy is to keep investing in the right people and technology, and to stay true to our principles.”