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Tech Track 100

For the 12th year, we are proud to be sponsoring The Sunday Times Hiscox Tech Track 100 league table of Britain’s fastest-growing private technology companies. The Teck Track ranks private technology, media and telecoms (TMT) companies based on their growth in sales over the last three years of available data.

Articles and Research Report

To read our article that was featured in The Sunday Times, as well as the Research report, please view below.

Key summary

  • This year's Tech Track 100 companies increased their sales by a record average of 105% a year over three years from combined sales of £600m to £3.4bn.

  • Companies employed 18,200 staff in 2018/19, which gives average revenues per employee of £190,000.

  • Some 13,200 jobs have been added over the past three years; however, as a result of acquisitions, not all of these are new jobs.

  • The region with the highest number of companies is London, with 57 firms.

  • The next biggest region is the southeast, with 12 firms.  This covers the areas surrounding the M4 corridor technology hub, and there are a number of companies located in Surrey, Buckinghamshire, Hertfordshire and Oxfordshire.

  • The northeast and northwest are each home to seven companies.

  • 42 companies make a second appearance this year, 18 appear for a third time, while WorldRemit (No 96) makes a fourth appearance.  Victor (No 99) has appeared for five consecutive years. The record for appearances in the last 19 years is held by three companies: Skyscanner, The Hut Group and Cheapflights (now Momondo Group) with seven appearances each.

Key themes

Fintech: The UK’s fintech sector has once again broken records, both in terms of the funding levels the sector has attracted in the first six months of 2019, and its presence on this year’s Tech Track 100, with 24 companies featured this year.

Growth capital fundraising: 2018 saw record-level private equity and venture capital fundraising across the UK and Europe, a trend which is mirrored on Tech Track 100 – 40 companies are majority owned by PE/VC backers with another 28 selling minority stakes. External investors have stakes in a total of 75 companies.

International expansion: About three quarters (74) of this year’s Tech Track 100 companies have grown their sales in part thanks to international expansion, with many establishing overseas offices.

Serial entrepreneurs: 27 companies on this year’s league table are run by serial entrepreneurs, including several who have founded Tech Track 100 alumni.

Women in tech: 10 of the companies on this year’s Tech Track 100 are run or founded by women, compared to 11 last year and 10 in 2017.

Unicorns: There are six unicorns – companies with a valuation of over $1bn – on this year’s Tech Track 100, including Darktrace and the No. 1 company Revolut.

Tech for good: At a time when Big Tech is attracting criticism, some entrepreneurs on this year’s league table are creating successful businesses that are a force for good.

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